Posted on

Coinbase Opens Up To Altcoins, Launches Crypto-To-Crypto Trading

Coinbase Surprises Users With Monday’s “12 Days Of [Christmas]” Feature

Last Monday, Coinbase, the world’s most valuable crypto company, revealed that it would be launching a “12 Days of Coinbase” initiative, an obvious reference to the age-old holiday song of a similar title. In an announcement pertaining to this program, the San Francisco-headquartered platform divulged that 12 Days was a culmination of its development efforts for 2018.

Keeping this in mind, the firm explained that it would make one pertinent announcement each day, whether it be a new feature, company program, or anything in between. Just one week after the launch of this holiday-inspired initiative, on day 8, the upstart valued at $8 billion has arguably released the most exciting feature of 12 Days so far.

At noon on December 17th, Coinbase took to its Twitter page to unveil a feature that its retail users have been clamoring for since Ethereum (ETH) added to the multinational platform. Per a blog post released in tandem with Coinbase’s tweet, this feature, dubbed “Convert.” will allow users to trade one cryptocurrency to another on the firm’s consumer-focused offering.

Convert will allow traders to issue crypto-to-crypto instantaneously, and purportedly at a “lower than if done via two separate transactions.” The startup will be charging a targeted spread of 1%, but the fee incurred may vary, specifically due to “market fluctuations.” This feature will be “gradually” rolled out to Coinbase’s clients in the 34 countries that have access to “native payment access.”


In closing, the firm maintained that this newest feature is part of Coinbase’s mission to build a open financial system for the world.

Coinbase Opening Up To Altcoins 

This move only underscores Coinbase’s newfound affection for altcoins, which has shocked the industry at large, as formerly, the startup expressed copious amounts of hesitance towards listing non-Bitcoin digital assets. Still, the fact of the matter is that amid 2018’s bear market, the American juggernaut likely weighed its options, and decided to move its business in a unique direction.

Per previous reports from Ethereum World News published in September, Dan Romero, Coinbase’s general manager, took to CNBC’s “Fast Money” segment to discuss the matter. Romero, who has quickly risen to the top of the startup’s pecking order, explained Coinbase’s vision for its altcoin-friendly plan:

Ultimately, crypto is a global phenomenon. You have software developers and entrepreneurs around the world building products on top of crypto, and it’s unlocking a lot of use cases, particularly in emerging markets. I think we need to shift as a company to a more global perspective.

Just months after this revelation, the platform has remained true to its word, listing an array of altcoins, some well-known, others not so much, in rapid succession. At the time of writing, Pro, the startup’s testing ground for altcoin support, currently lists the “Coinbase Five” (BTC, BCH, ETH, LTC, and ETC), ZCash (ZEC), 0x (ZRX), BAT, Decentraland (MANA), LOOM, Civic (CVC), and district0x (DNT).

The startup has also expressed that it intends to “explore” offering support for an extensive list of altcoins, namely Stellar Lumens (XLM), XRP, Cardano, NEO, and Tezos (XTZ). Seeing that the company has made good on its “exploration” of assets previously, it can be assumed that the tokens on the list, partially conveyed above, will be added in due time.

Title Image Courtesy of Marco Verch Via Flickr

The post Coinbase Opens Up To Altcoins, Launches Crypto-To-Crypto Trading appeared first on Ethereum World News.

Posted on

Stellar Lumens (XLM) vs Ripple’s XRP: Round Two

On the same path on how humans when facing an issue attempt to solve it while learning more, the crypto-verse made its introduction to overcome many problems we hurdle on a daily basis with. So, in a way most coins are presented before us with the idea to make the world a better place. The issues that the digital currencies deal with most are coming from the existing financial industry architecture and network.

Obviously more and more ideas made their debut in the ecosystem claiming they will do better than the other or previous ones. Of course, with time better technologies and versions of existing platforms made their appearance. With great importance is the subject of money/currency transferring between individuals within or cross-border range.

In the case of blockchains specialized in providing solutions to banks and payment providers to process cross-border transactions, 2 are the blockchains that currently dominate the sphere: Stellar XLM and the San Francisco based firm Ripple’s XRP.

Stellar Lumens XLM and XRP

The competition between the two started from the birth of Stellar XLM as Jed McCaleb initiated the non-profit Stellar Development Foundation after forming the parent company Ripple in 2013 which followed with him leaving his active position. This all as Mr. McCaleb sought to step-up the transactionary side of the verse.

One very key-mark when the battle between the two rose to new heights was when the leading crypto-exchange Coinbase announced that it is experimenting around with 5 digital assets: Cardano ADA, Basic Attention Token BAT, Stellar Lumens XLM, Zcash ZEC and 0x ZRX.

This hoisted a debate between the two-first row competitor’s communities as for a long time XRP enthusiast do ask the team from Coinbase to add their favorite token on the platform.

However, at the same time Weiss Ratings spoke very well (and that often) about XRP’s speed and how it could act as a perfect base currency for exchanges like Binance. That characteristic is by far one of the most important when it comes to transfers in global-range.

In the other hand, Stellar Lumens steps the cross-border transaction game up by partnering with TransferTo to boost international money transfer. This way, send&receive in over 70 countries will be completed very speedy and efficient.

The first round [Coinbase’s case] went for Stellar Lumens as many conclude by knowing that the exchange denied signs of testing XRP for listing it in the platform.

R. Two– In an interview for the Blockchain Podcast #66 of Finance Magnates  Anthony Barker, Chief Technology Officer [CTO] of Paris-based international money transfer firm Tempo, commented on the benefits of using blockchains for the financial industry and the reasons why this company’s team chose Stellar over Ripple.

“Stellar was sort of a natural fit for us … My gut reaction was that [Ripple] is not so good for community building … [It’s] much more like a Visa/Mastercard… I have a strong belief that open systems win in the long run.”

“We worked with Jed McCaleb and his developers, and we added compliance, so it’s integrated into Stellar as a standard 2nd-layer protocol … so we know how to send first name, last name, and date of birth across.

They added that really quickly simply because they’re really focused on this global remittance use case,”

This, by no doubts, is the opinion of one individual/group/firm and so one. However, we know that events like that can impact and inspire many to look more into one choice than the other.

Despite many choosing other options instead of Ripple’s XRP because of the words spread that it is too centralized, less of the nodes are run from the San Francisco based firm Ripple than the other 52%. On top of that Mr. Schwartz – CTO of Ripple, many times labeled even as the could-be Satoshi Nakamoto, commented how their chose protocol cannot be controlled by miners which can happen to Bitcoin or Ethereum becoming more centralized than believed.

By knowing the vast need of improvement in money transferring and how struggling and frustrating it is these days to complete it in a larger distance, there is a big future for both project ahead. Each year the crypto-verse is becoming more intriguing and attractive to enthusiast about.

Girl in a jacket


Posted on

Ethereum Network Tokenized U.S. Dollars Trade made Possible by Tether

Transform Your Dollars to Crypto-Tokens

The leader in providing tokenized currencies Tether is offering tokenized USD on the Ethereum Network, a service on the second by market cap major cryptocurrency following only Bitcoin. In a simple context – traders, users and investors can change their government supported currencies into tokens which can be used to make exchanges easier and simpler.

On Sep 11 it was announced the launch of the ERC20 Tether tokens in partnership with Ethfinex – a trading platform and information hub on ETH network. If everything goes as planned many delays users very often have to struggle with will be cleared when they have to user businesses and banks services.

“The number of tokens and assets being tokenized on top of the Ethereum platform is growing rapidly, with many proving disruptive to traditional business models,” said Project Lead at Ethfinex Will Harborne. “By enabling all ERC20 compatible applications and protocols to integrate tokenized USD, we expect to see enhanced efficiency and further stability on the Ethereum network.”

[embedded content]

So in a nutshell, users will deposit the USD, it will be converted into a virtual currency named “Tether – ₮”. All of the Tether assets will have a name and symbol of their own to represent the trade which later can be used as an aforementioned ERC20 token.

Later on, it is expected the yen and euros will be supported on the platform and network too. TokenCard has been added on the partnership, making it possible for the Tether users to use their tokenized currency on the way that they are want like with traditional currencies.

This could be a complete system change and how we see or use cryptocurrencies and the tokens. Ethfinex did put out a very important target that the partnership has ahead: developing currencies that could be very simple and usable by users on everyday events in their daily life.

“We believe this development will not only open up the world of cryptocurrencies to more mainstream consumers, but also set the standard, and encourage other companies to be more innovative and accessible in their product and service offering at this pivotal time for money and payments,” said Tether co-founder Craig Sellars.

Blockchain technology in general is changing how things got done until now like the way we vote, entertainment industry, improved air travel and so on. If everything rolls out as planned for companies like Ethfinex, Tether and so on – the understanding and use of money could change entirely.

– For more Cryptocurrency market related Updates and News Follow us on our Facebook and Twitter pages.