Coinbase PRO Makes it Official, Ethereum Classic (ETC) Transfers are LIVE

Coinbase Pro Launches Ethereum Classic (ETC) Support

Coinbase Pro, the exchange formerly known as GDAX, just announced the launch of Ethereum Classic (ETC) on the platform.

As of August 7, 2018, Coinbase Pro is accepting transfers of Ethereum Classic. ETC trading will begin within the next few days.

The announcement isn’t a surprise: Coinbase Pro announced final testing for ETC last Friday with the goal of accepting ETC transfers by Tuesday. The exchange achieved that goal after testing went according to plan.

The next step is to launch ETC support on Coinbase exchanges first, then launch ETC support at Coinbase.com.

Coinbase will roll out ETC support through four stages, including transfer-only (the stage that launched today), followed by post-only, limit-only, and full-trading support.

Coinbase hasn’t set a date for the launch of ETC trading. Today, they’re encouraging users to deposit ETC into the platform. Then, once liquidity is established, ETC trading will begin.

“We plan to add support for ETC at Coinbase.com when sufficient liquidity is established,” explained San Francisco-based Coinbase in its announcement. “We expect this to occur approximately 1–2 weeks after trading begins on Coinbase Pro.”

Coinbase Pro is one of two new exchanges launched from GDAX. Coinbase recently split its GDAX exchange into Coinbase Pro and Coinbase Prime. Pro is the exchange for individual traders, while Prime is dedicated to serving institutions. If you traded on GDAX previously, then you’re a Coinbase Pro user. Institutions who traded on GDAX, meanwhile, have been contacted by the Coinbase Prime team.

ETC transfers officially began at 10am PT on Tuesday, August 7. You can deposit ETC into Coinbase Pro but you cannot place orders and no orders will be filled on those order books. Order books will be in transfer-only mode for the next 24 to 48 hours.

The next step is to launch the post-only stage, which is when customers can post limit orders but with no matches (completed orders). Order books will be in post-only mode for a minimum of 10 minutes.

Then, there will be limit-only mode. In this third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of 10 minutes.

Finally, Coinbase will launch ETC with full trading support. On this final stage, full trading services will be available, including limit, market, and stop orders.

“One of the most common requests we receive from customers is to be able to trade more assets on our platform. Ethereum Classic is just a first step in that direction.”

Coinbase also hinted that similar launches will likely take place in the near future:

“We announced last month that we are exploring a number of other assets to add to the platform, and customers should expect to see similar announcements when we are exploring new assets to add to the platform.”

Coinbase has been rumored to be exploring the launch of Stellar on its platform, for example, among other cryptocurrencies.

Ethereum Classic is up 4.69% over the last 24 hours, making it the 11th largest cryptocurrency by market cap. In addition to being listed on Coinbase, ETC was just listed on Robinhood, making it a great news day overall for ETC supporters and investors.

You can see the full announcement on their blog here.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,467FansLike
2,795FollowersFollow
4,229FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Billion Dollar Publicly-traded MicroStrategy Buys 21,454 Bitcoin as a Reserve Asset

MicroStrategy is now taking a deep dive into the world of bitcoin. The $1.2 billion Nasdaq listed software company has officially announced its position in...

How Will Crypto Cope In Regulation-Friendly State Belarus After Lukashenko’s Protested Presidential Win?

Crypto-friendly state Belarus faced a nation-wide internet blackout on Monday after a hotly contested presidential election on Aug. 9. The country has been facing...

Compound Protocol to Roll Out Decentralized Oracles Dubbed ‘Open Price Feed'

Compound, one of the most popular defi protocol, is all set to introduce open price feeds for lending on its platform using a decentralized...

$2 Million Slippage & Surge in Ether Price on Uniswap Helps Net $40k in Profit

A Uniswap user was able to profit $40,000 thanks to $2 million of slippage and the price of Ether surging north of 15%. It all...

Irish Govt to Target Cryptocurrencies Use in Money Laundering And Terror Financing

The Irish government aims to implement stricter and more stringent laws to curb money laundering and terrorism financing in its financial system, including digital...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today