Coinbase Wallet Adds Storage Support For Ethereum Classic (ETC)

by | Nov 27, 2018 | Cryptocurrency News

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Ethereum Classic (ETC) gets support on Coinbase Wallet

Ethereum Classic News: Coinbase, one of the leading crypto wallets and exchanges has announced that Ethereum Classic (ETC) is now officially one of the cryptocurrencies its wallet supports. The official announcement was made on Coinbase official blog yesterday 26 November 2018.

With this asset launch, Coinbase Wallet now supports Ethereum (ETH), Ethereum Classic (ETC), and all of the 100,000+ ERC20 tokens on the Ethereum blockchain. As part of our mission to be the easiest and most trusted crypto wallet, we plan to add support for even more blockchains in the future.”

Coinbase exchange had added support for ETC in August and now added it to its list of supported tokens in its wallet which certainly is of great significance for users of the wallet. The announcement also stated that the Coinbase wallet will be updated to include ETC in a few days to enable new users view, send or receive ETC.

For those who have been using the wallet, all ETCs sent to an ETH address will “show up” after the update as ETC address will be the same as the existing ETH addresses. Coinbase currently supports BTC, BAT, BCH, ETH, LTC, ZRX, the stablecoin USDC and now ETC.

The company is looking to expand its user base by adding more blockchains as time goes on. The addition of crypto assets to the wallet seems to have been very fast as it started with only ETH and ERC-20 tokens just in August but now supports a reasonable number of assets.

Coinbase has a mission to become the leading and most trusted wallet with great ease of use and this dream seems to be materializing as the wallet is rated one of the best among the top crypto wallets in the world.

With the current bear market situation, the addition of ETC to Coinbase wallet may just help the asset to stay afloat as its addition to the Coinbase exchange led to a price surge in August. Since this addition will expand the user reach of the asset and may encourage investors to consider it as an investment option, we can experience a similar surge, although it is not certain.

It will be interesting to see the pattern of things for ETC following its support by Coinbase wallet in the next few days.

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