Coinbase announced that they were thinking of adding new coins, Keyword, thinking.
Since the addition of Bitcoin Cash on CoinBase it seems like Coinbase has not been focusing on making new coin additions a priority but instead catering to their larger investors with Index Funds & Coinbase Custody to make them feel better.
- The coins announced will definitely pump in some way after these announcements, but will they ever be added? I’d say maybe 2 of the coins announced gets added to Coinbase.
- The use case for these coins are not a factor as seen below, CoinBase may not even let users withdraw or deposit coins into a different wallet or exchange making some of these coins not usable in the way they are currently advertised.
- You may be able only able to buy sell, & HODL these new coins.
- Nothing is guaranteed. The fact is, nothing may come of this announcement. CoinBase is very much covering themselves in every way possible which is great.. for them. They may not even list these coins in the US at all due to fact that regulation in the United States is uncertain.
- In any case, if I were the head of Ripple, I would stay away from including myself in announcement so vague like this. It seems if withdrawals and deposits are disabled, the use case for XRP is also none.
- So the real question; is CoinBase adding these coins for their use cases, or by request of their bigger clients?
Who does reap the benefits of these announcements?
CoinBase definitely does , but also the big investors who are coming in using the index fund or many of their other products. Investors who actually have big money want security. Their priority is not to better our community or advance the current technology, it is to better themselves and their larger clients.
So what will help us bring the next bull run & help Crypto get to mass adoption?
Enter The Cash App
The Cash App owned by Square is already the easiest way to send and receive money between two parties that allow you to instantly deposit those funds in your bank account for a small fee.
You can easily buy and withdraw Bitcoin as long as you give your I.D in the united states. Right now, they are working on being able to deposit in their wallets. When this happens, this is a major step for Crypto. Once most realize there is a simple solution between your bank and Crypto, instant mass adoption is no issue.
Squares register’s are a simple way for small merchants to accept and receive payments instantly with no issues. Small business all over the world use them. I am most readers have used one at some point. If i could easily spend my Bitcoin at one of these registers while on a trip overseas, that would be a step up compared to anything CoinBase has done in the last 2 years.
Some Final Numbers:
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