Coinbase is well known for its positive impact on coin listings. It has, for dozens of times, added new tokens on their platform and caused a massive surge in the price and activity hours before and after the addition.
The exchange announced on Thursday that its customers can now buy and sell the Brave Basic Attention Token which was added on its retail trading platform last week. According to the announcement, traders will transact with the token on coinbase.com, on its iOS apps or its Android app.
Basic Attention Token (BAT)
Coinbase initially said that it would support the token last week on its trading platform, making BAT the second ERC-20 token that the platform has included after 0x. Coinbase has even gone ahead to make the process easy for investors by allowing them to use the Coinbase Pro interface with only a single click.
The announcement, however, noted that the New York residents would not be able to participate in the trading of the new token.
“The new token will be available for most jurisdictions, but the New York investors will wait for a short while before they start the trading,” stated the platform in the announcement. The reasons for the delayed service were not revealed.
Coinbase wrapped up the announcement by informing their users that they have noted their opinions, heard their complaints and also demands of their cryptocurrency platform. The team also assured investors that more coins would be listed on the platform soon.
“Our customers should expect more digital assets to be listed on our platform in the future, as our goal is to ensure that we meet their standards and expectations.”
Coinbase users should also know that the platform intends to make another announcement regarding the newly included token, but this will happen when the token becomes available on the Android Apps, iOS or its website. Just like the other previous coins, Coinbase repeated the same sequential order which involves the transfer only stage and the post only stage where the investors are allowed to post limit orders. This is followed by the limit only stage where the matching is done without submitting the market orders, then finally the full trading stage which is accompanied by the launch.
Coinbase recently added USDC and the 0x Protocols Token (ZRX). It also supports Bitcoin Cash, Etherium Classic, Etherium, Bitcoin and Litecoin.
After the listing announcement, the price of BAT surged by more than 20%. It has since then regressed in line with the bearish market movement and was trading at $0.3 at press time.
Disclaimer: This is not an investment advice. It is of paramount importance that everyone should do his or her own due diligence before investing in any product, platform, tokens etc. Cryptocentral.io does not endorse any content or product published on this page. Our aim is to simply provide all the readers with the latest information in the field of cryptocurrency / blockchain industry that might be of interest to our readers.