Bitcoin Forum

Coinbase would be including XRP but only for storage purposes and not for trading. Can someone tell me why?

Coinbase is considering adding 37 new assets to its Coinbase storage service. New cryptocurrencies will not be added to other Coinbase products. To do this, they must first pass the Coinbase digital asset platform. This process includes consideration by an internal Committee of experts whose responsibility it is to verify that the crypto asset meets the criteria established in the framework.

They are offering wallets. Like blockchain.info for bitcoin but are not making it available for trade like binance.
Coinbase has always been on dilemma whether it's a wallet or exchange. GDAX was supposed to be the exchange now coinbase pro but still the wallet supports the same.

"I heard that coinbase custody is exploring the addition of many existing and forthcoming crypto assets for storage only, and will be working to add them as quickly and safely as possible."

"In an article I found that XRP is traded a lot with USD by people who are new to crypto. And also Their goal is to gain $ and not BTC. But i’ve not enough idea about coinbase XRP."

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I think this is a very good move
Not making them traceable on coinbase leaves the coinbase even more unique as there won’t be any form or losses on their hands
Hopefully Etherum classic leads the way in a good manner by having a storage on coinbase e

Is this real that they will be including XRP? I thought that Coinbase won't add them to the platform and this is why many has been bitter with Coinbase.

This sounds kinda twisted. If xrp will be added to coinbase for storage only, does this mean that coinbase users can only send xrp from another exchange or wallet to their coinbase wallet but will not be able to buy xrp directly from coinbase with btc or eth? Or maybe users can buy at instant quoted price.

This simply is just a storage medium, but i think you can make more enquiries on thin on their website.

Maybe trading XRP won't be profitable for them and it is rational for them to exempt it but the best response can be from their customer service.find out from them.

Storage means they'll support an online wallet for the currency but not exchange. They have officially announced it not only for Ripple but many more coins https://blog.coinbase.com/coinbase-custody-is-exploring-a-range-of-new-assets-e700496844be

"Coinbase Custody is exploring the addition of many existing and forthcoming crypto assets for storage only, and will be working to add them as quickly and safely as possible. At this time, we have not yet considered these assets for trading. We are making this announcement internally at Coinbase and to the public at the same time to remain transparent with our customers about support for future assets."

https://cdn-images-1.medium.com/max/1600/1*BaQZ59n4mEDPd-NjCUjK7A.png

Maybe it good for xrp to be included in coinbase so as the other new cryptocurrencies. But claims that coinbase will be a storage for xrp and not for trading, I don't know if its true or not. Let's just wait for the progress of this news.

Well, this might be in preparation for future trading,but for now, i think its just for the purpose of storage.

This is basically like a wallet. Given coinbase has always struggled with what they want be, whether they are a wallet or an exchange, this may be their new identity, finally.

They (XRP) are still not officially trading news coins, but news will come on it soon. But if they pass they framework, they are assuring to be approved at Coinbase for trading very soon.

Basically they haven't come to a decision yet about the trading of new coins that will be added to their database very soon. But according to them, all these assets will be approved for trading on Coinbase sooner or later given that they pass the requirements of the Coinbase Digital Asset Framework.

Coinbase will add more coin especially ERC-20 backed up.
though what they are offering is wallet to store tokens.
But i am thinking what is the purpose for that?

According news that I have known, Coinbase haven't accepted XRP yet, and be considering more and may be listed on the next time, so it is storaged in Coinbase's system

That means if the ripple coin doesn't meet the requirement of the regulatory framework of coinbase. It's not compliant and i guess ripple is not meet the minimum requirement and that's why coinbase only adding it to the storage purpose.

Coinbase is thinking about adding 37 new assets for its Coinbase stockpiling administration. New cryptographic forms of money won't be added to other Coinbase items. To do this, they should first pass the Coinbase computerized asset stage. This procedure incorporates thought by an inside Committee of specialists whose duty it is to confirm that the crypto resource meets the criteria built up in the system.

I suppose that there should be some reasons for this but do not panic and wait, I think they will trade on the cryptomarket later so be patient and calm, do not make mistakes.

I think coinbase are a platform to build digital resources. Anyone here can assemble wealth. The base of the coins has increased the expansion of the new XPR. In my opinion, this is a very good way to create good opportunities in the future.

They just offers crypto wallet. I thought GDAX will exchange now coinbase pro but still the wallet supports the same.

The custody service is primarily aimed at institutional clients and not retail clients. One of the things that has been standing in the way of institutional investors investing in crypyocurrency has been the lack of custody services that meet the fiduciary requirements that institutional investors are obligated to meet. Imagine a pension manager trying to explain to clients that it lost their money because it got hacked. Coinbase has obviously seen this as a niche that it wants to exploit.

Coinbase is well know platform to exchange but still have some limitation I think. But I hope it will improve more in future.

The coins that are being listed on Coinbase haven't yet met the requirements of Coinbase Digital Asset Framework. As soon soon as they pass the regulations they will be added on the database according to Coinbase.

I think as we all know coinbase is asset of cryptocurrency ,its new assets is XRP and it is top.but it is only use for storage. May be they are not for trading they are only for storage

I really expect some more clear and specific questions from you, otherwise it will be very hard for us to provides you a appropriate answer,in bitcoin market there are all of issues are available like low price rate, scams, security problem lots of things so if you don't identify specific one it is hard to explain

Well it doesn't make any sense for any exchange to offer a currency simply to hold it and not to trade it.  Coinbase is losing ground to low/no fee exchanges.   Gemini has lower fees and better trade interfaces.  Robinhood has free trading but is only available in a few states.  If coinbase doesn't start offering better and lower cost services then they will lose business.  People already don't like them because the fees are way too high.  They should change their fee structure.  Maybe a percentage like 2 or 3% on trades under $200 and then a flat rate of 5$ for anything over $200. 

Coinbase will provide only storage service because it will add almost 37 new assets. But they will provide wallets like other blockchain such as bitcoin. But for trading,  :-\  it will not be used.

There was a confusion about the Coinbase that Coinbase will be used for exchange or for trading. But I heard that it will provide the wallet system which were used in previous also but the difference is it can’t be used in trading.

According to Coinbase, the coins that are being listed in the coming future will become available for exchange once they pass the crypto asset framework that is maintained and regulated by CoinBase itself. So, hopefully, we can see these coins being traded on CB very soon.

With Coinbase, you can completely trade cryptos on it. If you do not trade on Coinbase, then it is possible that your country is being listed among the countries that are not allowed to trade cryptocurrency. I still trade on a daily Coinbase and storage cryptos there daily.

Can someone explain to me why this market price in 2018 has dropped dramatically? When will the price of a coin rise again like last year?

the only people who know the reason is only coinbase team my friend
if i'm not wrong at the first time coinbase only a bitcoin wallet,
maybe someday ripple can be tradeable in coinbase

XRP is the currency version of Ripple. And as till now, exchanges have only occurred through tokens and coins, they are keeping XRP for storage purposes and not for exchange.

I think the only people that have a reasonable explanation to this if it's true, is the coinbase people. There are responsible for their decisions and I want to believe that they have a reason why they include XRP on their exchange, but just for storage purposes and not to trade. It doesn't make sense though, seeing that all coins on exchanges are for trading purposes.