You will often hear people speculating about when a coin will be listed on Coinbase. Why is this important?
It is not just that Coinbase is a big exchange with lots of newbies on it, although this is true. The thing about Coinbase is that it is an exchange with a fiat bridge, allowing the automatic conversion of crypto to fiat via APIs. As a consequence crypto payment providers often operate using a Coinbase wallet supporting only the coins listed there.
From a risk perspective it is an indirect confirmation that the coin is legit.
Coinbase is perhaps one of the more conservative exchanges out there when it comes to supporting digital assets.
They study coins extensively I think and their criteria shows their philosophy. They are a filter.
Yes, and ADA is filtered out due to its current centralised/federated nature.
They will list it when Shelley is fully operating, probabley by the end of the year.
Probably 6 to 8 weeks. All they need is to see that Cardano takes the steps to and has a successful transition. Expect it ti be when they transition to the main-net.
Once coinbase acreditation price will rise.
You’re are too optimistic. First, the Testnet must be tested for a lot of different type of testing, then the results need to be analysed. Also, the chain will be hardforked to Ouroboros BFT and then slowly converge to Shelley finally. After these only Coinbase would accept them as they have strict listing policy. as an example they say “network is public, decentralized, and enables trustless consensus.”. These are AND relations and one of the three is false. So, you say 22nd of Apr, I can say that the earliest can be 1st of July, but I would be very suprised if that would happen by that time, so realistically sometimes in the Q4. But, who knows.
Lets see what develops. Most of anything stated by other than company insiders is all guess work. I’m sure you very smart and have insights you value above anyone else’s. I expressed what I believe to be correct. Coinbase doesn’t need all the hoops you suggest to add ADA. You might need to see that but based on their comments and standards, they don’t and they have expressed as much much earlier when they specifically stated they would be listing assets that may be less developed. They may list them with restrictions so long as they met key standards.
I don’t care if I’m correct or you. I hope that anyone who wants to trade ADA on Coinbase gets their chance earlier than later. I’m a long term holder. Period. I’ve had serious problems with Coinbase when they held a deposit for 2 months and never got back to me with any reasons as to why. I had to contact their banks and file a fraud claim to get my funds released by the bank. It took 6 days after contacting the bank. My point is I have no love for Coinbase. My opinion is based on their standards and statements. So is it my opinion or their’s? Maybe you share the same thinking. Any way. Lets see what happens and when. So far ((their)) promise to release new coins every few weeks has proven to be inaccurate.
Monday XRP was listed … And the effect on the price was nearly nothing until now.
Why should it be different with ADA?
Besides a minimal temporary increase it probably won’t affect the price in the current market. It worked extremely well in a bull market because of all the extra hype. Nonetheless I couldn’t care less. In it for the long haul.
In a March 28 interview Fireside chat with Charles Hoskinson made some comments at the end of his interview. If I recall the important comment’s correctly they were made in the last 8 or 10 minutes of the interview.
You may find it interesting.
Go and listen to the comments by Charles Hoskinson regarding the listing or lack there of. It would be located in one of 2 places in his march 28th Fireside chat. $7 to 49 minutes and in the last 8 minutes of the same interview.
He wasn’t very supportive of it happening soon. Personally I am hopeful it happens after Shelly is launched. I’d like to be able to stop buying other cryptos to buy ADA. On Coinbase the problem is solved, so I am very hopeful. Resolves tax consequences from the initial purchase.