Getting listed on a major digital currency trading platform is one of the biggest goals of every digital currency in the crypto space. This is because there are lots of benefits attached to it. Major digital currency trading platform across the globe have very large user databases. They are very popular and they have built a good reputation over time.
When a digital currency is listed on a major exchange, that digital currency gains further exposure. More investors will have the opportunity to invest in that digital currency. This will increase the adoption and demand for the digital currency. An increase in demand and adoption of the digital currency would result in an increase in its value. This is why a lot of digital currencies are looking for trading positions on top digital currency trading platforms.
Coinbase Explores the Addition of News Digital Currencies
Coinbase is one of the major digital currency trading platforms in the U.S. The exchange has been in business for quite some time now and it has a very large customer base. Coinbase has provided trading support for several digital currencies, including Bitcoin (BTC) and Ethereum (ETH).
However, the exchange is now exploring the possibility of adding more than thirty digital currencies to its platform. According to a press released by the firm, some of the digital currencies to be added to the platform include XRP (XRP), Cardano (ADA), and EOS.
XRP (XRP) Price Today – XRP / USD
The firm officially released a list of thirty-one digital currencies, including the three mentioned above, and also Tezos (XTZ), NEO, and others. OmiseGo (OMG), Stellar Lumens (XLM), Zilliqa (ZIL), Loom Network (LOOM), Aragon (ANT), Golem Network (GNT), IOST, Dai, Civic, Bread Wallet (BRD), Aeternity (AE), and Decentraland (MANA) were also in the list.
In a statement, Coinbase said it will be working with regulators and local banks to add them in as many jurisdictions as possible. The exchange said that there is no guarantee that a digital currency will be added to the platform even when it appears on the list. The reason is that some coins might encounter some restrictions while some might not be added at all when they are done with their evaluation.
In a statement, Coinbase said: “The addition of new digital currencies requires significant exploratory work from both a compliance and technical point of view. We can’t guarantee that all these digital currencies we are evaluating will be added to the trading platform. In addition, our process of listing may result in some of these digital currencies being listed only for customers to sell and buy, not for receiving and sending using a local wallet.”
Bitcoin (BTC) Price Today – BTC / USD
In September, the trading platform published a new listing process that would enable it to add digital currencies faster than before. Nevertheless, the exchange stated that the new listing process only applies to digital currencies that were compliant with their local regulations.
As a result, some digital currencies listed on the platform will only be made available to customers in specific jurisdictions.