Tag Archives: coinbase

Coinbase reverses position; will support bitcoin cash after all

Coinbase just published an update that details an apparent change of heart on bitcoin cash: they’re working on supporting it by the start of 2018.

This means that if you have any bitcoin that you left in Coinbase’s hands during the hard fork a couple days ago, you’ll get your fair share of created bitcoin cash after all. Eventually, anyway—your bitcoin cash will be available to you whenever Coinbase officially launches support for the new coin in the coming months.

This is good news—Coinbase’s previous position no doubt left many of their customers feeling as though the popular exchange was openly stealing from them.

Reminder: get your bitcoin out of Coinbase before August 1st!

If you have any bitcoin stored at Coinbase or any other online exchange, it’s probably a good idea to move it into a private wallet that you control ASAP.

On August 1st, the Bitcoin network will likely fork into two separate blockchains—which will create a new currency in the process. Everyone that owns bitcoin will automatically receive an equivalent amount of the new currency, called “Bitcoin Cash” (BCC)—but this is only guaranteed to happen for you if you control the private key to the wallet address where your BTC is stored on August 1st. In other words, if you leave your BTC on an exchange during the fork, you’ll be at the mercy of the exchange as to whether or not they decide to give you the BCC that is created from the split.

Coinbase has already publicly stated that they’re taking the ethically questionable stance of not transferring the newly-created BCC to customers that trust them to hold their BTC during the fork. Other exchanges, such as Bittrex, have explicitly told their customers that they’ll be credited with whatever BCC their BTC generates. If you want the BCC that you’re entitled to, and have any doubt as to where your exchange stands, make sure that you transfer your BTC to your own private wallet at some point before Tuesday!

Given that the futures price for BCC is currently hovering around $400/coin, and many people expect it to end up somewhere between 10-20% of BTC’s value after the fork, there is potentially a lot of money at stake for people with sizable bitcoin holdings.

Litecoin available to trade on Coinbase

Coinbase, widely regarded as one of the largest and most trustworthy cryptocurrency exchanges, has finally added support for Litecoin as of a few minutes ago. Their LTC price is currently all over the place—immediately rising to nearly $35 before backing down into the low $20s (other exchanges are listing LTC at around $20). It’ll be interesting to watch the price over the next few hours/days.

Bitcoin price hits all-time high

Bitcoin has gained about 15% in value over the past week, putting it at over $1,450 on Coinbase currently. That’s higher than any point since its inception!

Ethereum and Litecoin are both also doing quite well. ETH is up roughly 50% compared to just one week ago, and LTC has nearly quadrupled in value since the start of 2017.

What’s driving the recent spike in cryptocurrency valuation? Other than the imminent SegWit activation for Litecoin, there doesn’t seem to be any big news that should be driving prices up at this pace. Are people reacting to political uncertainty around the world by converting some of their fiat currency into digital cash? I’m honestly not sure—but it’s certainly interesting to follow!

Coinbase CEO confirms Litecoin support coming

Brian Armstrong, the CEO of Coinbase, has confirmed via Twitter that Litecoin support is finally on the way. A recent press release hinted that Coinbase might be eyeing LTC, but this is the first time Armstrong has publicly acknowledged implementation plans. No time frame was mentioned, but this is good news for Litecoin regardless!

Coinbase to finally offer support for Litecoin?

A press release from New York’s Department of Financial Services dated yesterday reveals that Coinbase has been granted approval to offer Litecoin services to its users.

Coinbase is widely regarded as the premier Bitcoin exchange. Last July, they added support for Ethereum, prompting many to wonder when (or if) support for Litecoin was coming. The press release seems to be confirmation that Coinbase is at least laying the groundwork for LTC support.

Happy Bitcoin Black Friday!

Today is Bitcoin Black Friday, and that means there are some good deals to be had for shoppers using bitcoin to pay for their purchases. Remember that the long-term success of cryptocurrency depends on consumers that are willing to spend their coins—so consider making at least one purchase today in support of Bitcoin’s future.

Also, a reminder that Coinbase is waiving all fees today.

Update: Mt. Gox has now also announced that they’re waiving all fees today through Monday.

Coinbase waiving all fees this Friday

Coinbase today announced that they’ll be waiving all fees on 11/29 in celebration of Bitcoin Black Friday. If you’ve been wanting to buy, sell, or trade bitcoin, it won’t cost you a Satoshi at Coinbase this Friday.

Coinbase is probably one of the more reliable and trustworthy exchanges available at the moment, if you’re not familiar with them. You can sign up here through my referral link if you don’t already have an account, and we’ll both get $5 worth of free bitcoin after your first 1 BTC transaction.