Coinbase To Delist 4 Major Cryptos Due to Low Usage

  • Coinbase Wallet will cease accepting BCH, ETC, XRP, and XLM native tokens.
  • Coinbase cited “low usage” as the basis for delisting the four coins
  • Unsupported assets are accessible with users’ Coinbase Wallet recovery phrase

On December 5, Coinbase Wallet will cease accepting Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple’s XRP Ledger (XRP), and Stellar (XLM) native tokens.

The assets mentioned above will no longer be supported on December 5. However, users with balances can withdraw beyond that date using a recovery phrase.

Coinbase cited “low usage” as the basis for delisting the four coins, all of which rose to prominence during the 2017 bitcoin bull market.

This does not mean your assets will be lost. Any unsupported asset that you hold will still be tied to your address(es) and accessible through your Coinbase Wallet recovery phrase. In order to view or transfer these assets after Jan. 23rd, you will need to import your recovery phrase on another non-custodial wallet provider that supports these networks.

The exchange has also delisted XRP, one of the top 10 cryptos, from its exchange listing. At the time of writing, XRP trades at $.39 with a huge market capitalization of almost $20 billion. Additionally, the market capitalizations of ETC, BCH, and XLM crypto are over $2 billion each.

In other news, On November 29, Huobi made an announcement about its collaboration with TRON, DMC Labs, and the Commonwealth of Dominica. The government of Dominica approved the three platforms to issue Dominica Coin (DMC), the country’s official coin, and Digital Identity (DID). Holders of DMCs will receive Dominican digital citizenship.

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José is a crypto enthusiast who trades crypto night and day. He loves to share his trading stories and experiences in all his published articles. José likes to hang out and travel to meet new friends. Enjoys sushi, vodka, and tequila.