Coinbase Will Add Support For Certain ERC20 Tokens
Ter a latest blog postbode, Coinbase announced their intention of accepting ERC20 Tokens. ERC20 is an ethereum token standard that defines a common list of rules for all the ethereum tokens to go after. With this standard, you can create your own cryptocurrency. Right now, more than 70% of the token sales were made on the Ethereum blockchain using the ERC20 protocol. Coinbase proclaimed that their decision wasgoed made te order to accept ERC20 assets spil Coinbase products.
What could this mean for the cryptocurrency market?
Thesis are fine news for cryptocurrency enthusiasts. There are a lotsbestemming of cryptocurrencies that deserved a place on Coinbase and didn&rsquo,t had that chance. This could also lead the way to a fresh wave of people investing ter cryptocurrencies. Until now, the options were pretty limited on Coinbase and most of the fresh investors were sticking to the cryptocurrencies listed there. Now, they will have a broad diversity of options, leading to people investing te different cryptocurrencies. But the cryptocurrencies won&rsquo,t be added to Coinbase at very first :
&ldquo,Coinbase will only list assets after they are listed on GDAX. After evaluating factors such spil liquidity, price stability, and other market health metrics, wij may choose to add any ERC20 asset added to GDAX to the Coinbase podium,&rdquo,
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Therefore, most likely only the most valuable ERC20 tokens will be listed on Coinbase. If a cryptocurrency wasgoed added and accepted on GDAX &ndash, that doesn&rsquo,t mean that it will also be listed on Coinbase. For investors with more than $Ten Million ter a certain ERC20 token &ndash, you may be interested to find out that the Coinbase Custody will open its gates for fresh deposits and withdrawals &ndash, most likely more cryptocurrencies than it will be listed on GDAX.
This wasgoed a long expected uur by the cryptocurrency community. Coinbase supporting certain ERC20 tokens could bring fresh investors to the market. Spil Coinbase also have the Custody service, wij may see a loterijlot of big companies investing ter the cryptocurrency market ter the future.