It’s been a big week for Ethereum Classic (ETC). The coin, which is a fork of Ethereum (ETH), has seen a surge in price and trading volume after Coinbase announced that it would be adding support for the asset on its platform.
This news sent shockwaves through the cryptocurrency community, as it was unexpected given that Coinbase had previously stated that it had no plans to add ETC to its exchange.
Coinbase is one of the most popular cryptocurrency exchanges in the world, so its listing of a new asset usually causes a major price movement. In the case of Ethereum Classic, the price of the coin surged by over 30% after the announcement.
This listing is significant for a number of reasons. Firstly, it shows that Coinbase is willing to change its mind on assets that it had previously ruled out.
NOTE: WARNING: Coinbase does not currently accept Ethereum Classic (ETC) as a payment method. Attempting to send ETC to Coinbase could result in the loss of funds. Do not attempt to purchase, sell, or transfer ETC using Coinbase.
This could mean that other assets that are currently not supported, such as Ripple (XRP), could eventually be added in the future. Secondly, it also provides more legitimacy to Ethereum Classic, which has often been overshadowed by Ethereum in terms of development and community support.
With this listing on Coinbase, Ethereum Classic is now much more accessible to mainstream investors and should see an influx of new users and capital. It remains to be seen how this will affect the price of ETC in the long term, but for now, it looks like things are off to a good start.
Yes, Coinbase does accept Ethereum Classic (ETC) on its platform. This was announced recently and caused a surge in price and trading volume for the coin.
This listing is significant as it provides more legitimacy to Ethereum Classic and makes it more accessible to mainstream investors.
7 Related Question Answers Found
Since its launch in 2016, Ethereum Classic (ETC) has been one of the most popular cryptocurrencies. Despite its popularity, Coinbase does not support ETC. Here’s why:
Coinbase is a digital asset exchange company.
Yes, Coinbase does pay interest on Ethereum. Currently, the interest rate is 4.08% per year. This means that for every $1,000 worth of Ethereum you have in your account, you will earn $40.
80 in interest annually.
Ethereum staking is coming to Coinbase, one of the world’s leading cryptocurrency exchanges. This is big news for the Ethereum community, as it will make it much easier for people to earn rewards for participating in Ethereum’s consensus mechanism. Coinbase has not yet announced an official launch date for Ethereum staking on its platform, but it is expected to roll out sometime in 2020.
As of late, there has been much discussion in the crypto community about whether or not Coinbase will support Ethereum staking. Currently, the only way to earn interest on your Ethereum holdings is to keep them in a cryptocurrency wallet that supports staking, such as Trust Wallet. Coinbase has been one of the most popular cryptocurrency wallets for years, but it does not currently support staking.
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum Classic is a continuation of the original Ethereum blockchain – the classic version preserving untampered history; free from external interference and subjective tampering of transactions. Ethereum Classic is a public, open-source, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.
Ethereum Classic (ETC) is a cryptocurrency that was created as a fork of the Ethereum blockchain. The fork occurred in June 2016, after a hacker exploited a flaw in the Ethereum code to steal $50 million worth of Ether. The Ethereum community decided to hard fork the blockchain in order to restore the stolen funds, but a minority of users refused to upgrade to the new version of the software, choosing instead to stick with the old blockchain.
Ethereum Classic (ETC) is a cryptocurrency that was created as a result of a fork in the Ethereum blockchain. The fork occurred in 2016, after a group of developers disagreed with the way that the Ethereum Foundation was handling the DAO hack. The group of developers decided to create a new version of Ethereum, which they called Ethereum Classic.
