Coinbase, one of the most popular cryptocurrency exchanges, does not currently offer support for Metal (MTL). Given that Coinbase is one of the leading exchanges in terms of both trading volume and user base, this may come as a surprise to some.
However, there are a number of reasons why Coinbase may not be offering support for Metal at this time.
First and foremost, Coinbase is a regulated company. As such, they are subject to compliance with various regulations. One of these regulations is know-your-customer (KYC) requirements.
In order to comply with KYC regulations, Coinbase would need to collect extensive personal information from users who wish to trade Metal on their platform. This would likely deter many users from using Coinbase, as they value their privacy.
Second, Metal is a relatively new cryptocurrency. It was only launched in 2017 and has not yet gained widespread adoption.
As such, there may not be enough demand from users to justify listing Metal on Coinbase.
Finally, Coinbase may simply be waiting to see how Metal develops before deciding whether or not to list it on their platform. They may be waiting to see if it gains more adoption or if there are any major changes or updates to the Metal protocol.
Only time will tell if Coinbase will eventually offer support for Metal. For now, users will need to look elsewhere if they want to trade this cryptocurrency.