Coinbase Announces the Addition of “Many More” Alt-Coins in 2018

 In Investment News
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The cryptocurrency exchange known as Coinbase announced through CEO Brian Armstrong that it would be adding many more alt-coins to its exchange in 2018. The digital currency exchange brokers the transfer of a number of prominent cryptocurrencies already and has allowed cryptocurrency holders to liquidate their digital assets and exchange them for the fiat currencies of over 32 to different countries. Armstrong, who cofounded Coinbase, has called the exchange “Stock Market 2.0”.

 

 

Currently, Coinbase only provides a digital exchange for Bitcoin, Litecoin, and Ethereum, which are largely regarded as the three most prominent cryptocurrencies on the market today. The announcement has sent excitement through the cryptocurrency world and will likely be viewed by investors as a benchmark of legitimacy.

 

While there are other digital exchanges for cryptocurrencies out there now, Coinbase is considered one of the easier ones to navigate. It also allows users to deposit money from their bank accounts or credit cards. Because of the ease with which investors can purchase cryptocurrencies via Coinbase, cryptocurrencies that are listed on Coinbase get an immediate bump in their value. Cryptocurrency enthusiasts refer to this as the “Coinbase Bump.”

 

Coinbase has yet to announce which cryptocurrencies it’s going to add to its exchange, but there are a number of likely candidates that are either offering something new or have seen a lot of activity from the internet. There has been a lot of talk and speculation in the community that among the new coins may be Dash, Ripple, and Stratis. Coinbase chose Bitcoin, Ethereum, and Lite Coin for obvious reasons. Ethereum has seen a good deal of activity and created an entire community around their coin. Bitcoin was the first in the game. Litecoin streamlined the rate at which transactions are processed. So each of these coins has a claim to doing something unique and bringing something new to the realm of cryptocurrencies. It is likely that Coinbase will continue to list coins that can claim the same.

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