Coinbase Exchange Speculation – Are Monero XMR & Ripple XRP Next?
In recent weeks, we have been hearing about the possibility of Ripple and Monero heading to Coinbase. While this news cannot be confirmed, there are some insider sources which claim that Ripple is the most likely currency that might be considered by Coinbase for incorporation.
This is in part due to its to the rapidly expanding portfolio in the world of banking and international market transfers. Not only that, Ripple also allows for more than a thousand transactions to be processed on a per song basis. This makes it easily scalable, and hence of much use to many business operations across the globe.
Why All The Coinbase Exchange Speculation?
To start things off, we logged onto Coinbase and used its ‘advanced search feature’ to randomly look for links related to cryptocurrencies and altcoins other than BTC, ETH, Litecoin. We started off with Dash, and as expected, there we no hits or matches that came up. The same happened when we tried out other coins such as IOTA, Cardano.
However, things became a little more interesting when we typed in the name Ripple into the search box. The website gave us a hit, and presented us with a link that has led us to believe something is going on here. For starters, why is Coinbase giving us a match that states that Ripple is a “Supported digital currency”, when it is clearly not available for trade on the system. The same happened when we typed in Monero into the search column (i.e it showed up as a supported digital currency).
At this point, it is also valuable to mention that Monero is avoided by certain online exchanges due to its IRS and the privacy related issues. However, this problem can be overcome as Coinbase uses a strict set of ‘security protocols’ that can negate such issues. Since all of the trading on coinbase occurs on the GDAX platform and not via the Monero blockchain, legal forks that we have just mentioned can be easily gotten rid of.
Is There Any Official Word From Coinbase On All This?
No. There has been no official statement that has been released from the company’s end. Also, to be absolutely clear, there were no links to either Ripple or Monero on the landing page. Thus, the search results that we found could have been a result of sheer luck or coincidence.