Bitpanda Offers Support for ERC20 Token Support and Non-Support for Unsupported Tokens

Bitpanda, Europe’s leading retail exchange, recently expanded its portfolio of ERC20 tokens by adopting general support for the standard. On the other hand, the platform also warned its users that it will only support separate tokens and only well-researched projects will be selected and added to the platform.

The platform Tweeted, “We’re happy to announce the ERC20 support is now live on the Bitpanda platform! We can now being to add specific tokens using this standard to our platform, tokens we support will always be listed on #bitpanda #ERC20.”

Before Bitpanda’s announcement Omisego (OMG) also added the ERC20 to its project and the move positioned the exchange ahead of Coinbase, which is still working on its addition of the same tokens.

Although Bitpanda also adopted the ERC20 tokens, OMG’s value fell by 9% to under $6. Bitpanda may see better results, as European regulations have authorized the service to offer banking services and to use banking areas. Overall, the absence of limitations concerning the addition of the new digital asset may be beneficial.

Further, ERC20 projects came to the main stage after Coinbase started researching assets such as Basic Attention (BAT). And, while there are numerous tokens, many of them are valuable and are in demand among investors and traders. ERC20 tokens, specifically, feature the most versatility in terms of use and some are categorized as utility tokens, while others are securities. ERC20 tokens also features many economies and referral schemes. The tokens have an advantage concerning market capitalization as well.

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