Ethereum Classic Finally Comes to Coinbase

Ethereum Classic Finally Comes to Coinbase
фото показано с : blokt.com

2018-8-9 16:08

The largest cryptocurrency exchange in the United States, Coinbase, has finally launched support for Ethereum Classic (ETC) on its platform. On August 7, users were immediately able to deposit ETC to their exchange accounts. The company has announced several stages for launching support for the 11th largest cryptocurrency in the world.

Final Testing Completed

Coinbase wrote on its blog that the final testing of the ETC support had been completed and that users will be able to transfer their ETC coins into the exchange. The exchange said:

“Our testing has gone according to plan, and we will be launching ETC support first on our exchanges, and then at Coinbase.com.”

Coinbase also announced that the support for the currency would be completed in four stages — transfer-only, post-only, limit-only and full-trading modes.

The coin will first be available on Coinbase Pro and then proceed to Coinbase.com after the exchange witnesses sufficient liquidity. They believe that this could happen within one to two weeks of the commencement of trading on Coinbase Pro. Note that Coinbase Pro is for individual or retail traders, while Coinbase Prime is designed for institutional investors.

Slow and Steady Approach to Launch

Coinbase suggested that there will be four stages in which order books will be created for the Ethereum Classic coin, beginning with ETC–USD and followed up by ETC–BTC and ETC–EUR.

The first stage, the transfer-only mode, began on August 7 at 10 am PT, where only transfers to Coinbase Pro accounts will be supported 24 to 48 hours. In the second stage, customers will be able to post limit orders however these orders will not be matched (completed).  This stage will be in place for a minimum of 10 minutes. In the third stage, limit orders will start matching and will remain in this mode for at least 10 minutes. Market orders will be not accepted in stage three.  The final stage is where full trading services begin.

Depending on liquidity and Coinbase’s discretion, the duration of each of these stages can be changed.

It is important to note that Coinbase’s no. 1 rival at the moment — Robinhood Crypto — started its Ethereum Classic trading services on August 6, just one day before Coinbase was scheduled to announce its support for ETC. Robinhood Crypto provides commission-free trading to users and is quickly evolving as a fierce competition to Coinbase.

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Источник: blokt.com

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