Coinbase Plans to Add New Coin

Rumors concerning Coinbase and their intention to add a new coin have been swirling for the past few months. For years, anyone using Coinbase was limited to buying Bitcoin. You had to purchase Bitcoin and then move it to an exchange to trade for altcoins. When Bitcoin reached record highs, the fees and the confirmation time made it very difficult to trade.

Coinbase finally added Litecoin, Ethereum, and Bitcoincash. Having these options has made things much easier for cryptocurrency investors. The process of going from fiat to crypto has always been a bit of a hurdle for new investors. One of the rumors was that Ripple would be added to Coinbase. This rumor actually made sense to me since the banks have fully embraced Ripple. As of yet, this has not happened.

Coinbase has just announced the edition of Ethereum Classic to their website. The coin jumped over 20 percent in price when the announcement went public. I think Coinbase is feeling some pressure because several exchanges are introducing a fiat to crypto alternative with at least one coin. I hope we will see more coins added in the near future. The process of going from fiat to crypto should be as painless as possible if we hope to encourage mass adoption of cryptocurrencies into society.