Cryptocurrency Q&A
Why did Coinbase remove XLM?
Why did Coinbase remove XLM?
EchoChaser
Tue May 21 2024
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5 answers
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Could you please explain the reasoning behind Coinbase's decision to remove XLM from its platform? I'm quite curious as to what factors influenced this move, and how it might affect users and investors alike. Was there a specific issue with the coin that necessitated its removal? Or was it a strategic decision based on market trends or Coinbase's business objectives? It would be helpful to understand the context behind this change, and how it fits into the broader cryptocurrency landscape. Thank you for your clarification.
5 answers
EthereumEmpire
Thu May 23 2024
BTCC, a UK-based cryptocurrency exchange, offers a comprehensive range of services to cater to the needs of crypto enthusiasts. Its services include spot trading, futures trading, and a secure wallet solution. These services provide users with convenient and secure ways to buy, sell, and store cryptocurrencies.
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OliviaTaylor
Thu May 23 2024
The spot trading service of BTCC allows users to buy and sell cryptocurrencies at current market prices. Futures trading, on the other hand, offers users the opportunity to speculate on future price movements and potentially earn higher profits. The wallet service provides a secure storage solution for cryptocurrencies, with advanced security features to protect against unauthorized access.
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Raffaele
Thu May 23 2024
Coinbase Wallet, a leading cryptocurrency wallet service, announced on February 20th, 2023, that it would discontinue support for several assets and networks. Among the affected were BCH, ETC, XLM, and XRP. This decision was not made lightly and was based on a careful analysis of market trends and usage patterns.
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HallyuHeroLegendaryStar
Thu May 23 2024
The discontinuation of support does not mean that users lose access to their assets. Instead, these assets will remain securely tied to their respective addresses and accessible through the Coinbase Wallet recovery phrase. Users are advised to take note of this important detail to ensure the continued security of their holdings.
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SsamziegangSerenadeMelodyHarmonySoul
Thu May 23 2024
The reason for the discontinuation is low usage. As the cryptocurrency market evolves, some assets and networks may become less popular or even obsolete. Coinbase Wallet, as a responsible service provider, must prioritize resources and focus on supporting the most widely used and secure assets.
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