Will Coinbase Add Stellar, Cardano, ZCash, Ox, and BAT?
Today, out of the blue, Coinbase added the following Tweet.
"Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX)."
Since Coinbase has struggled to add tokens before like Ethereum Classic, the announcement of the addition of these 5 altcoins is HUGE. The trading volumes for these coins since the annoucement have been INSANE and continue to trade bullish amid bearish BTC run.
Let's go over what these Altcoins are and which problems they solve and how.
Cardano (ADA): Cardano is a complete blockchain, built to improve upon the flaws that Ethereum has. It is written in a completely different protocol that provides insane security and tends to be much more reliable. The potential for more advanced features over the Ethereum blockchain are in surplus. This would be a great addition to Coinbase.
Basic Attention Token (BAT): BAT is designed to fix a flawed digital advertising system. It's comprised of the holy trinity in advertising: User, Advertiser, and Publisher. The whitepaper's opening states: “Digital advertising is broken. The marketplace for online advertising, once dominated by advertisers, publishers and users, has become overrun by “middleman” ad exchanges, audience segmentation, complicated behavioral and cross-device user tracking, and opaque cross-party sharing through data management platforms. Users face unprecedented levels of malvertisements and privacy violations. Mobile advertising results in as much as $23 per month in data charges on the average user’s data plan, slow page loads, and as much as 21% less battery life. In response, over 600 million mobile devices and desktops (globally) employ ad blocking software and this number is growing. Traditional publishers have lost approximately 66% of their revenue over the past decade, adjusted for inflation.”
With the advertising world being so large, Coinbase SHOULD pick this coin up!
Stellar Lumens (XLM): Stellar Lumens has been around since 2014! It's a cryptocurrency platform that focuses on remittance and cross-border payments. In essence, it will work like Paypal, but it's more flexible and with more options. This allows you to transfer money faster, cheaper, with less hassle.
Zcash (ZEC): This coin is another open-source cryptocurrency but it offers "privacy and selective transparency of transactions", which means the transactions are published on a public blockchain but everything about the transaction remains anonymous. This is similar to what Monero and even DASH are doing.
0x (ZRX): 0x token is a trading token, allowing you to be able to trade all sorts of ERC-20 tokens directly without having to rely on a centralized exchange to hold your funds, eliminating the possibility of your funds being taken.
GREAT options, but will they implement them?
I'm not sure why Coinbase chose these coins specifically, as they are all very different. However, their usage and value are substantial. We won't know if they will for sure implement these coins, only time will tell. It won't matter that much anyway, since we can get these coins on Binance. I'm not sure what the point of having it on Coinbase would be besides to line their pockets with fees.
What are your thoughts? Let me know in the comments below!
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