Finalizing ETC GBP Coinbase Integration

Coinbase has shared plans for expanded coin support, and is now finalizing additions of Ethereum Classic (ETC), and British Pound support for UK users.

Coinbase is an industry leader of cryptocurrency exchanges by user numbers and trading data, but more importantly the organization holds tightly to maintaining regulatory compliance. Because of this, their currency diversity does not match that of other exchanges. CEO Brian Armstrong has been outspoken about the growing cryptocurrency industry.

Starting today Coinbase will take on only ETC inbound transfers for 24 to 48 hours to Coinbase Pro and Coinbase Prime before their other exchange platforms. Last week Coinbase officially began accepting GBP same-day or near instant deposits and withdrawals in some areas of the UK. Integration will be an ongoing process to ensure proper functionality and regulatory compliance.

Other Coin Additions

Last month Coinbase shared that they were working on the addition of Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC), and 0x (ZRX).

Ethereum Classic

The stages of integration are made to guarantee a minimum level of liquidity. Within two weeks, ETC will be made available on the standard platform, Coinbase Consumers.

Coinbase is also doing extra work to maintain a fair approach. Customers who held their ETH balance through Ethereum’s hard fork that created ETC in 2016 will receive their corresponding balance of ETC into their new Coinbase ETC wallet.

British Pound

UK customers will gain access to GBP support over the course of August depending on their location. Coinbase has joined the UK movement to increase financial efficiency as well. Faster Payments Scheme was created in the early 2000s by Santander, Barclays, Citi, and many of the many other prominent financial institutions in Europe.

The primary objective was to reduce the usual three day confirmation time for transactions between financial institutions and businesses. The new payment channel was implemented in 2008, providing much more efficient bank transfers to residents – generally one day.

Follow us on Twitter, Facebook, Steemit, and join our Telegram channel for the latest blockchain and cryptocurrency news.

This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.

More from Cryptocurrency Exchanges

Popular broker in the test: PrimeXBT review

PrimeXBT is a relatively young broker, which has its headquarters in the Seychelles. As the companies mentioned in our past …

Kriptomat: A Leading Cryptocurrency Exchange

From a cybersecurity point of view, Kriptomat obeys all of the most immeasurable measures users would demand from an exchange …

Popular broker in the test: The great Plus500 review

Plus500 is a popular broker in Germany, the UK and other European countries. The Israel-based broker is especially known for …

In order to support and motivate the CryptoTicker team, especially in times of Corona, to continue to deliver good content, we would like to ask you to donate a small amount. Independent journalism can only survive if we stick together as a society. Thank you