Coinbase Announces Support for Ethereum ERC20 Tokens

[Jdavid05]

Hello Guys!! Is this true? Coinbase will add ERC-20 Token so its possible to add all ERC-20 Token on GDAX or just limited ERC-20 Token like 10-20 Tokens only?

Coinbase announced today it’s intention to add ERC20 support to several of its suite of products.

Historically, Coinbase announcements have caused huge retail influxes of retail investors, erratic price swings, and even allegations of market manipulation. That’s why it was a surprise today when Coinbase's latest announcement came not with a bang but a bearish whimper. Prices are down across the board today and there has been very little reaction to Coinbases momentous announcement. Whether or not the market chooses to react in the next 24 hours, one thing is for sure. Coinbase’s addition of ERC20 support will have wide-reaching effects around the cryptocurrency markets for years to come and cannot be overlooked.

Source: https://www.ccn.com/coinbase-announces-it-will-add-erc20-support/

[bobo012]

Yes it is true, but like you see good news does not help in the downtrend. We have had only positive news last month, with G20 and US congress, now france supporting blockchain tech also, and cboe sending ETF support letters to the SEC. It all had zero effect. I doubt this Coinbase announcement will help, but its nice to see they are catching up with other exchanges.

[boyshx]

To be honest that doesn't mean anything in the long run. Just because the are getting many ERC20 tokens on bar doesn't mean that it will help the economy of crypto currency push further. It just means that we have got all new platform to exchange our tokens over there and nothing else. There are so many exchangers coming out month after month but does that mean crypto currencies are spiking in the long run? No, I dont think so. So it is the similar thing that is happening right now or will happen once the exchanger implementation is completed. Thats the straight thing about it and we should be very excited about positive effect of it on the crypto currency because there is none. Thoughts are welcome on this one. 

[sorrysteve1]

Coinbase is mostly used by new and inexperienced investors, or at least that is the impression I get. Right now we don't have too many of them as they're all scared and there's little publicity, when things turn around and there are many new guys then the influence of this will be shown in the markets.

[contrarian]

Lol. Good news for everyone who sent tokens to coinbase ethereum addresses and lost them.

[STT]

Good news if Coinbase will handle all ERC20 Tokens like a proper wallet would.   Thats bullish for Ethereum for wider usage and also I personally like this as it raises the prospects of me getting tokens stuck on Bittrex released as it doesnt handle ERC20 and someone used the wrong address instead of using my wallet address.   The present system for handling for Ethereum seems pretty patchy in my experience.  Obviously wallets is the correct use but if we are talking about the main steam then its often going to include exchanges like this one, seems a fairly big step to me.

[AniviaBtc]

Is this true? If this is really a good step, it's especially for us and the crypto currency market! Undoubtedly its contribution to the economy of crypto!

[Rath_]

To be honest that doesn't mean anything in the long run. Just because the are getting many ERC20 tokens on bar doesn't mean that it will help the economy of crypto currency push further.

A lot of people are actually Coinbase, I wouldn't be surprised if the vast majority of its users who bought Ethereum on their platform, didn't know anything about ERC20 tokens. I'm not into Ethereum tokens so I can't tell much about their market, but many people seems to actually see some potential in them. Tokens might become a little bit more popular, but it won't be as revolutionary as introducing SegWit or other cryptocurrency such as Ripple. Unless they provide clear UI and information about buy, selling and choosing a proper token, nothing will change much.

[Koro-Sensei]

Hello Guys!! Is this true? Coinbase will add ERC-20 Token so its possible to add all ERC-20 Token on GDAX or just limited ERC-20 Token like 10-20 Tokens only?

Coinbase announced today it’s intention to add ERC20 support to several of its suite of products.

Historically, Coinbase announcements have caused huge retail influxes of retail investors, erratic price swings, and even allegations of market manipulation. That’s why it was a surprise today when Coinbase's latest announcement came not with a bang but a bearish whimper. Prices are down across the board today and there has been very little reaction to Coinbases momentous announcement. Whether or not the market chooses to react in the next 24 hours, one thing is for sure. Coinbase’s addition of ERC20 support will have wide-reaching effects around the cryptocurrency markets for years to come and cannot be overlooked.

Source: https://www.ccn.com/coinbase-announces-it-will-add-erc20-support/

That is almost a good news for all of us and maybe coinbase can rack up tons of costumers if they add this feature. I doubt though that they can provide all the tokens provided by the original ethereum site. If that happens but limits only what is the trend then it will not give success to them.

[cellard]

Good news if Coinbase will handle all ERC20 Tokens like a proper wallet would.   Thats bullish for Ethereum for wider usage and also I personally like this as it raises the prospects of me getting tokens stuck on Bittrex released as it doesnt handle ERC20 and someone used the wrong address instead of using my wallet address.   The present system for handling for Ethereum seems pretty patchy in my experience.  Obviously wallets is the correct use but if we are talking about the main steam then its often going to include exchanges like this one, seems a fairly big step to me.

Coinbase has proven their incompetence a million times now, I wouldn't be surprised if something wrong happens. If i was holding ERC-20 tokens, I wouldn't gamble, just get a real Ethereum wallet and hold them yourself.

If they are adding not only support but trading pairs, I guess that will be positive for those that care about ICO tokens since it will add massive liquidity on them, the problem is, there are tons of ICO scams, so I hope they are at least doing research and adding the less scammy of the bunch, not the ones willing to pay the most to Coinbase to get listed on there.

[cryptohoodz]

Interesting development. So this could mean Coinbase could potentially list a coin that is built on the Ethereum platform. Which one could it be? So far, Coinbase has chosen the top 3 coins, which could suggest Ripple, EOS, Cardano, Stellar.

[kaya11]

Hello Guys!! Is this true? Coinbase will add ERC-20 Token so its possible to add all ERC-20 Token on GDAX or just limited ERC-20 Token like 10-20 Tokens only?

Coinbase announced today it’s intention to add ERC20 support to several of its suite of products.

Historically, Coinbase announcements have caused huge retail influxes of retail investors, erratic price swings, and even allegations of market manipulation. That’s why it was a surprise today when Coinbase's latest announcement came not with a bang but a bearish whimper. Prices are down across the board today and there has been very little reaction to Coinbases momentous announcement. Whether or not the market chooses to react in the next 24 hours, one thing is for sure. Coinbase’s addition of ERC20 support will have wide-reaching effects around the cryptocurrency markets for years to come and cannot be overlooked.

Source: https://www.ccn.com/coinbase-announces-it-will-add-erc20-support/

It is positive news for the upcoming trends, now they are supporting a little and hoping soon to support more. I will follow any news and updates about the good things that is happening now. It will just be a matter of time for the crypto currencies will be climbing back again, and this time for sure it will be far more better than last time.

[STT]

Coinbase has proven their incompetence a million times now, I wouldn't be surprised if something wrong happens. If i was holding ERC-20 tokens, I wouldn't gamble, just get a real Ethereum wallet and hold them yourself.

If they are adding not only support but trading pairs, I guess that will be positive for those that care about ICO tokens since it will add massive liquidity on them, the problem is, there are tons of ICO scams, so I hope they are at least doing research and adding the less scammy of the bunch, not the ones willing to pay the most to Coinbase to get listed on there.

I dont want to use Coinbase for holding but lets be real for convenience sake people love to use these exchanges so its a positive.   I would only want to use it in a transitory way, I agree its a bad way to hold anything long term and not how crypto should work long term.  
   Also alot of people just arent that rich or especially involved, they are storing pocket change in many cases so the effort of wallets is something people hopefully expand to, an exchange is an easy way to start at least.

 I wont comment on coinbase competency but any protocol has to be resilient to failures so every mainstream use is a test and this also makes coinbase a larger target for some kind of more complex attack.  I remember cryptsy the old alt coin exchange was targetted with a scam coin that hacked them from within, obviously cryptsy had lousy security if this story is true but I'd expect some kind of malicious attempt on Coinbase if at all possible.  If they have half a brain they will acknowledge and be ready for it I guess

[LTU_btc]

I really didn't expected this step from Coinbase. But, well, it will have meaningful impact to markets. Like we already saw in past, when coin like Bitcoin Cash, Ethereum was listed on Coinbase, value of these currencies significantly increased.
Anyway, I wouldn't choose centralized exchanges to keep my tokens. MyEtherWallet is my first choice. But many less experienced users may choose Coinbase for simplicity and convenience. I heard that some users are confused how to use MEW. But Coinbase can bring even more chaos if they will list only several tokens. People may send their tokens to Coinbase ETH address without knowing that token aren't listed on Coinbase and people will loose their money in this way.

[darkangel11]

I really didn't expected this step from Coinbase. But, well, it will have meaningful impact to markets. Like we already saw in past, when coin like Bitcoin Cash, Ethereum was listed on Coinbase, value of these currencies significantly increased.
Anyway, I wouldn't choose centralized exchanges to keep my tokens. MyEtherWallet is my first choice. But many less experienced users may choose Coinbase for simplicity and convenience. I heard that some users are confused how to use MEW. But Coinbase can bring even more chaos if they will list only several tokens. People may send their tokens to Coinbase ETH address without knowing that token aren't listed on Coinbase and people will loose their money in this way.

It was a matter of time IMO. As the market develops and some coins become established and popular even the most reluctant exchanges like Coinbase will start to accept them. You can only stay behind for so long I understand that they want to keep the number of wallets to minimum, but for now they have only BTC, LTC and ETH available. That's 3 coins!

Interesting development. So this could mean Coinbase could potentially list a coin that is built on the Ethereum platform. Which one could it be? So far, Coinbase has chosen the top 3 coins, which could suggest Ripple, EOS, Cardano, Stellar.

You gave 4 in there While I'd hate to see centralized Ripple go anywhere, it might be their first choice.

[MakeMoneyBtc]

At a certain moment Coinbase had to do this step because a lot of coins with ERC20 are launched every day and some of them already became very successful.

[wandino]

 Good news for Ethereum ERC20 token holders.

[whirlcoin]

Good news for Ethereum ERC20 token holders.

I think this might happen by end of this year or even later because they just said they have idea to add the ERC20 tokens to their wallet but still no new about when it will happen.But if that heppens then it can help the price of crypto to go upward because most of the crypto users coinbase as their only wallet but don't know how many tokens will be supported by them.

[Tankdestroyer]

I think this might happen by end of this year or even later because they just said they have idea to add the ERC20 tokens to their wallet but still no new about when it will happen.

Will coinbase also offer exchanging of erc20 tokens to fiat currency? That would be really great if they did(since I have many erc20 tokens that I want to convert before this year ends). I also wonder though, will this spark erc20 token's popularity to newbies and the public masses as well? If that is the case, then it would really be great for crypto in general(because adoption rate will increase).

[Raone]

I think that it is a definitely a very good news for ICO investors, as they can now use Coinbase to hold ERC20 tokens.