Is Coinbase Going To Add More Coins

A person sitting at an office desk and looking at a cell phone with a contemplative expression.

Epitome source: Getty Images

Getting listed on Coinbase is no longer a stamp of blessing.

Until recently, if Coinbase listed a cryptocurrency, it was viewed every bit a postage of approval and often pushed upward the coin’s price. Merely Americans’ favorite cryptocurrency exchange has changed its opinion. Rather than being a gatekeeper, Coinbase at present wants to list as many digital currencies as it can.

CEO Brian Armstrong tweeted in June that Coinbase’due south goal was to list every asset it was legally able to. “Outside of our listing standards (for safety/legality), we don’t offer an opinion on the value of each nugget,” he said.

“Nosotros are asset agnostic, considering we believe in free markets and that consumers should have option in the cryptoeconomy. This is how we’ll accept the most innovation.”

Coinbase’southward change in melody

The reason for Coinbase’s new arroyo is simple. Investors want access to a wider range of coins, and if Coinbase doesn’t provide it, investors will motion to its competitors. That’southward why Coinbase says it wants to exist the kickoff to issue new coins. The thought is to provide the site’s users with admission, but not validation.

Coinbase currently lists around 70 currencies in the U.South., though they’re non all available in every state. Armstrong told CNBC in April that the company is considering list 100 more coins.

Armstrong has stressed that investors should not have a Coinbase list equally an endorsement of any kind. He also promised that the leading cryptocurrency exchange would provide tools in the future to assist investors evaluate private currencies.

Our summit crypto play isn’t a token – Here’s why

We’ve constitute i company that’southward positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you’ve probably used this visitor’s technology in the past few days, even if yous’ve never had an business relationship or even heard of the company before. That’s how prevalent it’s become.

Sign upward today for
Stock Advisor

and go admission to our exclusive study where you can become the total scoop on this visitor and its upside equally a long-term investment. Learn more and get started today with a
special new member discount.

Become started

Coinbase’south new direction makes sense from a business perspective. But for investors, it’due south never been more important to do your own enquiry.

Do your ain research

Call up that cryptocurrencies are highly volatile and relatively untested investments. And dissimilar securities that list on the stock commutation, at that place’southward very little regulation controlling cryptocurrencies. For case, listed companies demand to meet SEC reporting requirements. Cryptocurrencies don’t.

Put simply, private investors have to do their own due diligence, especially if exchanges aren’t going to vet the coins they list. Here are some other things to await for:

  • Who’south behind the currency and what their credentials are:
    Wait at other projects they’ve been involved with, and pay attention to anything fifty-fifty remotely suspicious.
  • What the crypto says it will exercise and what problems information technology’s trying to solve:
    You’ll find a lot of data in its white newspaper. Don’t worry if the linguistic communication seems technical at first, the more you read, the more than you will understand. Just information technology is important to persevere.
  • Whether the information is well presented and makes sense:
    Watch out for typos or things that don’t quite ring true. For example, if a currency uses a method you lot’ve never heard of to validate its transactions, you lot’ll need to practise more digging.
  • How much money information technology has raised and what its market cap is:
    The market cap is the total number of coins in apportionment multiplied past the cost of the coin. It gives you a adept thought of how volatile the coin might be, and how much influence larger players might have on the toll.
  • What you tin can larn from the tokenomics:
    How many tokens will exist released? How volition they be released? And how will people be incentivized to participate in the network?

There are many things in the crypto globe that nosotros tin can’t command, from the latest celebrity tweet to a whole nation banning cryptocurrency services. And the manufacture is however developing, so we don’t know which currencies volition come out on tiptop. The technology still has a way to go before it reaches its full potential.

Cryptocurrency investments will always exist risky. Simply if you do your research, you have a amend run a risk of picking coins that will perform well in the long term.

Source: https://www.fool.com/the-ascent/cryptocurrency/articles/coinbase-will-now-list-as-many-coins-as-possible/

Check Also

Will Dogecoin Go Up In Value

Will Dogecoin Go Up In Value

On Dec. 6, 2013, Billy Markus and Jackson Palmer decided to combine their dearest of …