Coinbase, Exchanges

Will Coinbase Add Kin?

It’s been a big week for Kin. First, the cryptocurrency was added to the popular Coinbase Wallet.

Then, on Wednesday, it was announced that Kin would be integrated into the messaging app Kik. The cryptocurrency is now available in three wallets, and its total addressable market has increased by millions of users. But will Coinbase, the largest US-based cryptocurrency exchange, add Kin to its trading platform?.

The answer is probably not. Coinbase has been very selective about the cryptocurrencies it lists on its exchange. So far, only a handful of coins are available to trade: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ethereum Classic.

Of those five, only Bitcoin and Ethereum have been around for more than two years. The others were all added within the past six months.

NOTE: Please note that Coinbase has not officially announced plans to add Kin (KIN) to its platform. Therefore, any speculation about Coinbase adding Kin should be taken with a grain of salt. Investing in cryptocurrency is highly speculative and involves a high degree of risk. Before making any decisions regarding investments in cryptocurrency, please make sure you have done thorough research and understand the risks associated with such investments.

Coinbase has also been hesitant to add new coins that don’t have a strong use case or aren’t backed by a large company. For example, the exchange recently announced that it would not be adding Ripple’s XRP token to its platform.

Ripple is one of the largest companies in the cryptocurrency space, with a market cap of over $10 billion. But Coinbase doesn’t think XRP is a good fit for its exchange.

The same could be said for Kin. The cryptocurrency doesn’t have a lot of utility right now outside of being used on Kik.

And while Kik does have millions of users, it’s not as big as some other messaging apps like WhatsApp or Facebook Messenger. Coinbase might be hesitant to add a coin that doesn’t have a lot of real-world use cases yet.

But there’s always a chance that Coinbase could change its mind in the future and add Kin to its exchange. For now, though, don’t expect to see Kin trading on Coinbase any time soon.

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