Users Can Now Trade Cardano on Coinbase and Its Apps

Key highlights: 

• Users can trade ADA on Coinbase and the exchange’s Android and iOS apps
• Many users of the exchange demanded that ADA should be listed
• Cardano is now on the list of assets in the Bloomberg Terminal

Coinbase, the a major United States-based cryptocurrency exchange, officially announced that users can now trade Cardano (ADA) on its platform. After previously only listing ADA on Coinbase Pro, the company has now also added the coin to Coinbase.com and its Android and iOS applications. Users can purchase and sell ADA in and they can also store, transfer, or receive the asset. The feature can be used in all of Coinbase’s supported jurisdictions.

What is Cardano? 

Cardano is a blockchain project that’s known for its reliance on scientific methods of study and peer review. Its development started in 2015, and its presale was particularly popular in the Asian market, mostly in Japan. The presale lasted for two years, and the project raised around $62 million. The public trading of ADA started in October 2017. 

The structure of Cardano’s team had basic changes in 2018, and many team members were replaced. Cardano has five different phases in its development, called Byron, Shelley, Goguen, Basho, and Voltaire.  Cardano is currently the leading staking crypto coin on the cryptocurrency market.

Cardano currently has a market capitalization of $37.4 billion, and the coin is changing hands at about $1.19. There are over 31.4 billion ADA coins in circulation, with about 71% of the total supply being released.

Many Coinbase users requested ADA to be on the list 

Cardano has played a major role the cryptocurrency market lately, and many users were asking for the coin to be listed on Coinbase. Coinbase has finally responded to the demand of the users, and the move should keep existing users happy while potentially also attracting some new users that required ADA to be listed on the exchange.

Recently, a description of Cardano was also added to the Bloomberg Terminal, although investors can’t yet track the ADA markets on the terminal.