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Author Topic: Coinbase wallet stops support for XRP, ETC, XLM and BCH  (Read 327 times)
sheenshane
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December 06, 2022, 11:50:26 PM
 #41

this is obvious decision coming from big platform like coinbase these coins that gets delisted are quite literally just losing their volume slowly but sure, I think eventually the other platform like kucoin and binance gonna do the same if they listed the coin in the first place, it's certainly better that someone should ditch this coin and invest in newer coins that's basically guarantees more return instead of holding the coin that just losing its fame and popularity.
Yes, because of the citing low usage but it doesn't mean you can't use these 4 coins once delisted.
It's only on the Coinbase wallet but still you can purchase it on Coinbase pro.  Just only removing support, doesn't mean you can't access it.

Sometimes this really happens on exchange when there's low usage or has minimal trading volume on that coins.

Another reason could be these.
  • XRP - SEC issue
  • BCH, XLM and ETC --fork coin issue

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December 07, 2022, 06:10:31 AM
 #42

And the main reason why they're going to stop supporting these coins because of;

Coinbase cited "low usage" as a reason for delisting the four coins,
There is a reason for all of them but not sure about ETC one. XRP is a company, it's called Ripple, and removing that makes sense because they are being investigated at all times, and XLM looks like it's not going to pick up, and BCH as well, those are two that has gone down too much and will not recover by the looks of it.

On the other hand ETC is still strong, and since ETH going the staking route, ETC has been a safe harbour for many miners as well, so it is a weird decision to lump these together there. I feel like there needs to be something that could change it all together, I wish that they were all very low ones, and not high level ones like ETC.

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December 07, 2022, 07:25:17 AM
 #43

@OP you shouldn't confuse the readers!

Coinbase wallet and Coinbase exchange are different, Coinbase wallet is a non custodial wallet which mean you can get the seed phrase and then import it to other non custodial wallet. This mean anyone that use Coinbase wallet must not panic since you wouldn't loss your coins.

I don't know if Coinbase exchange still support those token or not, but this article only mention about Coinbase wallet only.
That's right we can import our wallet to any other wallet. By seed phrase or with private key.
There in other wallet we can see or handle our coins/tokens easily if this wallet support these coins/tokens.
And the Coinbase users should not panic in this situation.

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December 09, 2022, 01:06:20 AM
 #44

Out of all these delisted tokens, its only Ripple which is worthwhile and incidentally I have a good amount of it stashed in my Atomic wallet. Though Ripple has started gaining some greens after the predictable red candles gotten after this announcement
Well, we all have our preference of what we think is a good and a bad coin. And on your end, it's XRP that's good on you and you're an investor on it. Anyway, it seems not a problematic thing to you and to the others that owns the delisted coins because they're listed in other more exchanges.

this is obvious decision coming from big platform like coinbase these coins that gets delisted are quite literally just losing their volume slowly but sure, I think eventually the other platform like kucoin and binance gonna do the same if they listed the coin in the first place, it's certainly better that someone should ditch this coin and invest in newer coins that's basically guarantees more return instead of holding the coin that just losing its fame and popularity.
Looking at the overall volume of most of them, they're considerably good and doing well. But if Coinbase has its own basis, they can do what they think should be done for the good of their business. Likewise, many think that it's not that really true that these cryptos do have a low usage on their platform.

There is a reason for all of them but not sure about ETC one. XRP is a company, it's called Ripple, and removing that makes sense because they are being investigated at all times, and XLM looks like it's not going to pick up, and BCH as well, those are two that has gone down too much and will not recover by the looks of it.

On the other hand ETC is still strong, and since ETH going the staking route, ETC has been a safe harbour for many miners as well, so it is a weird decision to lump these together there. I feel like there needs to be something that could change it all together, I wish that they were all very low ones, and not high level ones like ETC.
I do agree about ETC, after the transition of ETH, most miners went through ETC as it's still mineable. But can't do anything with that if they have to remove it just for the same reasons as the others.

That's right we can import our wallet to any other wallet. By seed phrase or with private key.
There in other wallet we can see or handle our coins/tokens easily if this wallet support these coins/tokens.
And the Coinbase users should not panic in this situation.
Yeah, I've already corrected that on the original post. Thanks!

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