According to an update on the company’s website, Coinbase Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP) and Stellar (XLM) associated with local altcoins will remove it from the wallet service.
Coinbase’s Wallet App Will No Longer Support Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP), and Stellar (XLM) Altcoins
Assets will no longer be supported on December 5, but users with balances will be able to withdraw funds from other wallets with their secret recovery phrase after that date.
“To view or transfer these assets after January 23, you will need to transfer your recovery phrase to another non-custodial wallet provider that supports these networks.”
Coinbase, 2017 cryptocurrency He cited “low usage” as the reason for the delisting of these four altcoins, which gained great importance in the bull market.
According to CoinGecko, XRP remains the seventh largest cryptocurrency with a market cap of $19.6 billion and 24-hour trading volume of almost $1 billion across all exchanges.
Bitcoin Cash (BCH) and Ethereum Classic (ETC), hard forked versions of the world’s two largest cryptocurrencies, Bitcoin and Ethereum, have lost a large chunk of their overall cryptocurrency market share since their launch more than five years ago.
However, Coinbase also warned in its statement that if unsupported assets are sent or received through wallet services, these assets will be lost:
“Coinbase Wallet can only store supported cryptocurrencies and access decentralized apps on supported networks.”
*Not investment advice.
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