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Why Coinbase Won't Add New Cryptos Anytime Soon

Why Coinbase Won't Add New Cryptos Anytime Soon

Why Coinbase Won't Add New Cryptos Anytime Soon Mar 26, 2018 at 13:00 UTC|UpdatedMar 27, 2018 at 10:01 UTC Supporting new crypto assets may be a "top priority" for Coinbase, but any such additions to its order books might not be close on the horizon. According to Coinbase general manager Dan Romero, the San Francisco-based exchange wants to add several new cryptocurrencies in line with customer feedback, but it's treading cautiously as U.S. regulators deliberate on how they might treat certain uses of the technology. "The reality of the regulatory situation keeps us from going and doing that right away," he said. Specifically, Romero mentioned the Securities and Exchange Commission (SEC), which is rumored to have dozens of investigations ongoing concerning initial coin offerings (ICOs) - fundraising efforts that involve the creation of custom cryptocurrencies. While speculation is ongoing about the nature of the investigations, the regulator seems to be gathering information in an effort to make a ruling on when a crypto token is a security. But since Coinbase is not a licensed broker, at least not yet, it cannot trade instruments that qualify as securities. And what the firm doesn't want to deal with is adding crypto assets to its platform and then being ordered to remove them again, as several exchanges in Hong Kong had to do when crypto tokens were retroactively deemed securities in February. "When we get to a point that we know which digital currencies and assets are securities, which ones are commodities, money or currency, it would be immensely helpful," Romero said, adding: "If the regulatory environment gets clearer, I think you will see Coinbase adding many new assets to our platform." The conversation comes days after the company published two blog posts on M Continue reading >>

Coinbase - Wikipedia

Coinbase - Wikipedia

July2, 2011; 6 years ago(2011-07-02) [1] Coinbase is a digital currency exchange headquartered in San Francisco, California . They broker exchanges of Bitcoin (), Ethereum (), Litecoin () and other digital assets with fiat currencies in 32 countries, [9] and bitcoin transactions and storage in 190 countries worldwide. [10] [11] [12] [13] Coinbase was founded in July 2011 by Brian Armstrong and Fred Ehrsam. [7] [14] It enrolled in the Summer 2012 Y Combinator startup incubator program. In October 2012, the company launched the services to buy and sell bitcoin through bank transfers. [15] In May 2013, the company received a US$5 million Series A investment led by Fred Wilson from the venture capital firm Union Square Ventures . [16] In December 2013, the company received a US$25 million investment, from the venture capital firms Andreessen Horowitz , Union Square Ventures (USV) and Ribbit Capital . [17] In 2014, the company grew to one million users, acquired the blockchain explorer service Blockr and the web bookmarking company Kippt, secured insurance covering the value of bitcoin stored on their servers, and launched the vault system for secure bitcoin storage. [18] [19] [20] Throughout 2014, the company also formed partnerships with Overstock , Dell , Expedia , Dish Network , Time Inc. to power accepting bitcoin payments. [21] [22] [23] [24] [25] The company also added bitcoin payment processing capabilities to the traditional payment companies Stripe , Braintree , and PayPal . [26] In January 2015, the company received a US$75 million investment, led by Draper Fisher Jurvetson , the New York Stock Exchange , USAA , and several banks, "apparently the first time any traditional financial institutions have taken direct stakes in a bitcoin enterprise". [27] Later in Jan Continue reading >>

Coinbase Bug Allowed Users To Steal Unlimited Eth, Wallet Paid $10k Bounty For Discovery

Coinbase Bug Allowed Users To Steal Unlimited Eth, Wallet Paid $10k Bounty For Discovery

Coinbase Bug Allowed Users To Steal Unlimited ETH, Wallet Paid $10K Bounty For Discovery A bug that could have allowed Coinbase users to drain billions of dollars in Ethereum took a month to fix, a report shows. Major US crypto wallet provider and exchange service Coinbase has rewarded a Dutch company with a $10,000 bounty after it discovered a smart contract glitch allowing users to steal as much as they want in Ethereum (ETH) , according to a report made public today, March 21. The issue, which VI Company reported to Coinbase December 27 of last year, revolved around exploiting a smart contract that involved a faulty wallet. Users were technically able to credit themselves with unlimited ETH funds. By using a smart contract to distribute ether over a set of wallets you can manipulate the account balance of your Coinbase account, VI Company described in the report, continuing: If 1 of the internal transactions in the smart contract fails all transactions before that will be reversed. But on Coinbase these transactions will not be reversed, meaning someone could add as much ether to their balance as they want. Coinbase has faced continued technical difficulties for almost a year. Since a mass influx of new users in mid-2017, the US largest exchange and wallet providers technical capabilities have been stretched, resulting in delayed and missing funds , system outages and other problems. Despite promises to beef up performance, the reaction to a bug that could technically have drained billions of dollars in cryptocurrency is telling; Coinbase only fixed the issue a month after the original report on January 26. Analysis of the issue indicated only accidental loss for Coinbase, and no exploitation attempts, it wrote as part of its commentary. Loopholes of this type have Continue reading >>

Bug Caught That Allowed Coinbase Users To Garner Unlimited Amounts Of Ether

Bug Caught That Allowed Coinbase Users To Garner Unlimited Amounts Of Ether

Bug Caught That Allowed Coinbase Users to Garner Unlimited Amounts of Ether Bug Caught That Allowed Coinbase Users to Garner Unlimited Amounts of Ether On March 20, 2018, it was revealed that a bug hidden in Coinbases Ethereum smart contract setup could have given users access to unlimited amounts of ether. At press time, it does not appear as though the vulnerability was ever exploited or even noticed by users. The issue was first discovered last December by VI Company, a Dutch firm that specializes in fintech. The company was planning to give its employees ether bonuses in celebration of the upcoming holiday season when researchers noticed the issue with their ETH receiving code while garnering funds from a contract. They saw that by using a smart contract, a series of digital wallets could be tricked into recording ether transfers and purchases that had never actually happened. The team issued the following statement in a vulnerability report later published on the firms HackerOne account in January 2018: By using a smart contract to distribute [ETH] over a set of wallets, you can manipulate the account balance of your Coinbase account. If [one] wallet transaction in the smart contract fails, all transactions before that will be reversed, but on Coinbase, these transactions will not be reversed, meaning a person could add as much Ethereum to their balance as they want. The report specified the following steps for taking advantage of the exchanges weakness: Set up a smart contract with a few valid Coinbase wallets and [one] final faulty wallet. Transfer appropriate funds to the smart contract. Execute smart contract adding the set amount of ether to the Coinbase wallets without ever actually leaving the smart contract wallet because the complete transaction fails at Continue reading >>

Eth Usd - Ethereum Price Chart Tradingview

Eth Usd - Ethereum Price Chart Tradingview

ETH broke out of all my previous predicted channels and trends in the past few days, putting 700 USD in its sights in the near future. My previous prediction of ETH/USD at 660 USD by EOY has already been broken. Making new parallel channel trends, I predict a price for ETH/USD at the End Of the Year (EOY) to be:Optimistic high: 1000 USDOptimistic narrow range: ... Continue reading >>

Coinbase Is Reimbursing Losses Caused By The Ethereum Flash Crash

Coinbase Is Reimbursing Losses Caused By The Ethereum Flash Crash

Coinbase is reimbursing losses caused by the Ethereum flash crash Relevnt launches a publisher-centric news app Earlier this week, GDAX, the digital currency exchange run by Coinbase, experienced a flash crash in its USD Ethereum market. Within seconds the price of ETH crashed from ~$320 to as low as $0.10. While the price recovered quickly, the rapid price movement caused many traders to experience margin calls or stop loss orders, resulting in potentially severe losses. While many initially thought the flash crash was the result of nefarious work, GDAX eventually confirmed that there was no indication of wrongdoing or account takeover. Instead, the flash crash was the result of someone placing a multi-million-dollar sell order at market price, meaning ETH would change hands at whatever price bidders were currently offering until the entire order was filled no matter how much lower the price was than the current price of ETH. Filling this order caused ETH prices to instantly slip 30% to $224 which in turn caused 800 stop loss orders and margin liquidations, which further drove the price down, to as low at $0.10. Typically, someone placing a large sell order would liquidate their position over time to minimize the downward effect on price. Also, GDAX reminds users who are about to initiate large sell orders that it will cause slippage in the market, meaning this trader most likely didnt care (or didnt understand) that his trade would move the market. For anyone not familiar with trading and exchanges, a stop loss order is an order to sell stock (or cryptocurrency) when the price drops to a certain level. Its basically used as a way to cut your losses. Additionally, a margin funding liquidation is when you borrow funds to go long and bet that an asset will rise in price Continue reading >>

Bitcoin Price Index - Real-time Bitcoin Price Charts

Bitcoin Price Index - Real-time Bitcoin Price Charts

The vice president of the European Central Bank saidyesterday that investors are taking a risk buying bitcoin at current high prices. Do you believe celebrity endorsements help the blockchain industry? Yes big names add credibility and visibility No they back scam projects or distract from innovation Indifferent this neither helps nor hurts the space I would like to receive the following emails: CoinDesk Weekly - Insights for the week ahead CoinDesk Daily - Our snapshot of the day's news Subscribe to our free newsletter and follow us Continue reading >>

Ripples Token Price Hits $1 Amid Fresh Speculation That Coinbase May Be Listing Xrp

Ripples Token Price Hits $1 Amid Fresh Speculation That Coinbase May Be Listing Xrp

Ripples Token Price Hits $1 Amid Fresh Speculation that Coinbase May be Listing XRP The third-biggest digital currency is up more than 16 percent during trading Monday amid rumours that XRP could be joining crypto exchange Coinbase. According to CoinMarketCap, XRP, the native token for Ripple, is now trading above $1, at $1.05, pushing its market cap to more than $41.4 billion, at the time of publishing. The spike in price comes a day before Ripple CEO Brad Garlinghouses alleged appearance on CNBCs Fast Money on Tuesday. Also due to appear on the program is Asiff Hirji, Coinbase President and COO. Two other digital currency executives will also be in attendance. However, while this may simply be a panel discussion to talk about cryptocurrencies in general, this has, nonetheless, sparked fresh rumours that Garlinghouse and Hirji might take the opportunity to make an announcement. At present, San Francisco-based Coinbase offers trading for bitcoin, bitcoin cash, ethereum, and litecoin. Further details about the upcoming show remain limited, and neither Garlinghouse or Hirji have tweeted any information about show. Despite this, however, the XRP price has risen in the past 24 hours. If the rumours do prove true it would make the trading of XRP easier, enabling Coinbase traders to, once again, diversify their investment portfolios. Today also marks the start of the additional staff members working at Coinbase to help handle the volume of inbound support requests. Last month in a blog post , Tina Bhatnagar, vice president of operations and technology at Coinbase, wrote that the company would be adding approximately 500 staff members over a three-month period. The first group of 90 staff members will begin today with a group added each week until the 500 target has been reac Continue reading >>

Coinbase Announces Support For Ethereum Erc20 Tokens

Coinbase Announces Support For Ethereum Erc20 Tokens

Coinbase Announces Support for Ethereum ERC20 Tokens Coinbase announced today its intention to add ERC20 support to several of its suite of products. Historically, Coinbaseannouncements have caused huge retail influxes of retail investors , erratic price swings , and even allegations of market manipulation . Thats why it was a surprise today when Coinbase s latest announcement came not with a bang but a bearish whimper. Prices are down across the board today and there has been very little reaction to Coinbases momentous announcement. Whether or not the market chooses to react in the next 24 hours, one thing is for sure. Coinbases addition of ERC20 support will have wide-reaching effects around the cryptocurrency markets for years to come and cannot be overlooked. ERC20 is the standard used by Ethereum tokens and smart contracts . It serves as an interface to which anyone wishing to issue a token or write a smart contract must comply. There are a total of59,948 Ethereum contracts out there. Although Ethereums market share has shrunk, they almost single-handedlydominated the ICO bull market of 2017. For instance, many of the most successful currencies such as EOS which raised $185 million in just 5 days, Bancor which raised $153 million, and at least 2 more that raised $70 million or more. ERC20 tokens are seen as the bedrock of ICOs, and blockchain applications by fans of Ethereum. Coinbase has a number of products this will affect. The first, and potentially the most important for institutional investors is Coinbase Custody . While unfamiliar to many retail investors, Coinbase Custody is a digital asset custody service that provides secure storage and financial controls of large holdings. No one knows how many customers are using custody, but it is seen as the most pro Continue reading >>

Coinbase - Buy Bitcoin & More

Coinbase - Buy Bitcoin & More

For free $10, enter "Cobasebonu" in Google before signing up. This is an official promotion for new users of Coinbase. Over the years the app has gotten better and better. This is by far the best coin wallet I've downloaded and I have gone through quite a few. Beautifully intuitive I remember when buying bitcoin was like circumnavigating a labyrinth. No more! The speed and intelligence the bitcoin network is being expanded is staggering and Coinbase is the bedrock that seems to offer more people the chance to play in this strange and wonderful modernity. This is a brilliant app that is the gateway between whatever local currency you use and the world of crypto currencies. Buying and selling is easy and simplified. Finding your wallet addresses could be a bit more intuitive but in the end it's the best full service bitcoin wallet and exchange app on the market. Currently, you can send value to any Bitcoin, ETH or LTC address anywhere in the world. It cannot be used for trading. If you are a newbie and all you do is buy and hold, do not sell until you have made enough appreciation for whatever your goal may be. Use TWO FACTOR AUTHENTICATION to make your Coinbase holdings more secure than your regular online banking the Coinbase app will point you in the right direction. The only complaint I have is that I can't add my AMEX as a purchase option. I have a request in to support to find out why. I would love to be a beta tester and test all the future features. My account was closed for what seemed to be no apparent reason and I was forced to send my Bitcoin and Etherium to a new wallet. Later that day I received an email that said: Upon careful review, we believe your account has engaged in prohibited use in violation of our Terms of Service and we regret to inform you that Continue reading >>

How To Buy Ethereum & Best Exchange Ratings

How To Buy Ethereum & Best Exchange Ratings

While all of these cryptocurrency exchanges do the same thing (facilitate buying and selling cryptocurrencies), they operate differently. To make things easier to understand, weve outlined 3 groups of exchanges: Group A This first group of exchanges allows users to trade fiat currencies (USD, EUR, GBP, etc.) and cryptocurrencies on an open market. These sites function similarly to traditional forex and stock exchanges, allowing users to make limit, market, stop, and even margin trades. Typically, these sites have limited deposit and withdrawal methods for fiat currencies, most commonly offering bank wires and bank transfers. While these sites can be complicated for new users, they typically have the lowest fees of any group. Exchanges in Group A include Gemini, Kraken, GDAX, & CEX.IO (CEX.IO also offers group B offerings). Group B The second group of exchanges operate more like online cryptocurrency retail stores. Rather than have their users make trades on a market, they directly facilitate the purchase and sale of cryptocurrency with their users. This creates a more beginner friendly process than group A exchanges. These exchanges also typically allow users to make purchases with debit and credit cards, in addition to bank wires/transfers. While these sites are typically thought of as the easiest ways for beginners to buy and sell Ethereum, they charge higher fees than Group A exchanges. Exchanges in Group B include Coinbase, CEX.IO, and Coinmama. Group C The last group of exchanges work similarly to Group A exchanges, but only offer cryptocurrency trading. This means on these exchanges you can only trade cryptocurrencies for other cryptocurrencies. This group does not offer the ability to buy or sell cryptocurrencies with fiat currency. Exchanges in Group C include Continue reading >>

Coinbase Paves Way For New Altcoin Support With Erc20 Upgrade

Coinbase Paves Way For New Altcoin Support With Erc20 Upgrade

Coinbase Paves Way For New Altcoin Support With ERC20 Upgrade New altcoins may be coming to Coinbase and GDAX after a blog post reveals ERC20 protocol support. Coinbase has announced its intention to support ERC20 tokens on its exchange, reversing previous statements from January, in a blog post published March 26. In the post, Coinbase said its decision to support ERC20, which is the technical standard used for smart contracts on the Ethereum blockchain and the protocol used for many of the thousands of altcoin assets in existence, paves the way for supporting ERC20 assets across Coinbase products in the future. The move comes several weeks after the US largest exchange and wallet provider added ERC20 token support to its Ethereum wallet and DApp (decentralized application) browser Toshi. The announcement came with a conspicuous pledge not to reveal any likely altcoin candidates for future hosting. A previous post last updated March 17 reiterated new asset additions would be done under stringent controls, a commitment that followed Decembers highly controversial addition of support for altcoin Bitcoin Cash , which saw Coinbase accused of insider trading . A month later, CEO Brian Armstrong stated publicly in the first incarnation of the asset addition blog post that neither Coinbase nor its sister exchange GDAX would seek to offer any new cryptocurrencies. As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company, he wrote Jan. 4. Coinbase will only list assets after they are listed on GDAX, the latest announcement meanwhile continues, also stating: After evaluating factors such as liquidity, price stability, and other market health metrics, Continue reading >>

When Buying Ethereum On Coinbase, Why Is The Buying Price Higher Than The Current Price On Dashboard?

When Buying Ethereum On Coinbase, Why Is The Buying Price Higher Than The Current Price On Dashboard?

The difference my friend, is due to the bid ask spread. This is how coinbase makes money from each transaction. The $ 194.59 that coinbase is quoting is the bid price. Basically this means coinbase is bidding(willing to spend) $ 194.59 for buying 1 unit of Ethereum from you or me. To remain profitable and cover its own expenses, Coinbase will sell the unit of Ethereum for more that what it bought it. This becomes the ask price. In this case, Coinbase asks for $ 195.55 from any customer willing to buy back a unit of Ethereum from it. The difference of $ 0.96 is what Coinbase gets to keep from each transaction. Your exchange rate for buying or selling digital currency through our Conversion Service is calculated as the market rate of the digital currency on Coinbases GDAX platform, plus a spread of up to 50 basis points. In rare circumstances, the market rate from GDAX may not be available due to outages or scheduled maintenance. In order to provide you with uninterrupted services at such time, we may derive market pricing data from unaffiliated digital currency exchanges. Rates quoted in these circumstances are subject to spread exceeding 50 basis points. The final rate will be quoted to you before you complete your transaction. We charge fees (Conversion Fees) to use the Conversion Service, which vary based on your location, payment method, and other circumstances. In some cases we may charge an additional fee on transfers to and from your bank account. We will always notify you of Conversion Fees and any other service fees that apply to your transaction, both at the time of the transaction and in each receipt we issue to you. Unless otherwise disclosed to you at the time of your transaction, the conversion fee you pay is calculated as the greater of: (a) Minimum fee a Continue reading >>

Coinbase Bug Allowed Users To Give Themselves Unlimited Ether

Coinbase Bug Allowed Users To Give Themselves Unlimited Ether

Coinbase Bug Allowed Users to Give Themselves Unlimited Ether Coinbase, one of the worlds most popular cryptocurrency exchanges, has apparently had a nasty bug lurking in its system that would allow users to collect unlimited ether through a few simple steps. Thanks to a bug report, however, the company avoided disaster. VI Company , a Dutch firm specializing in FinTech, publicly disclosed the vulnerability on its HackerOne account on Wednesday. According to the report, a string of digital wallets controlled by a smart contract could be manipulated to trick Coinbase into believing a transfer had occurred. The issue was first reported in late December, and Coinbase responded on January 25th saying the issue had been resolved and that the company would be rewarded with a $10,000 bounty. Smart contracts have been touted as one of the main arguments for why the Ethereum blockchain technology could have more potential than Bitcoin. In the most basic terms, a smart contract is a set of if/then conditions regulating the transfer of cryptocurrency funds. VI Company wanted to give its employees a unique Christmas present last year, and familiarize them with smart contracts. It set up a smart contract that would distribute a small amount of ether to everyone on Christmas Eve, Christmas Day, and Boxing Day. But it noticed something weird. The people handling the project realized that if one of the internal transactions of the contract failed, all the transactions were reversed, which is how the smart contract should work. But Coinbases internal accounts didnt register the reversal. So, Coinbase thought the wallet had been credited with additional ether, but checking the wallet outside of Coinbase showed that no deposit had occurred. VI Company uploaded screenshots of its transact Continue reading >>

Bitcoin Drops 28% Below $10,000 On Coinbase; Ethereum Crashes 30% In 24 Hours

Bitcoin Drops 28% Below $10,000 On Coinbase; Ethereum Crashes 30% In 24 Hours

In fact, nearly every major cryptocurrency suffered massive losses during the day. Ethereum traded at about $1,062 as of 8:12 p.m. ET. That represented a sizable rebound after hitting a low of $854 earlier in the afternoon. Coinbase is the leading U.S. marketplace for trading bitcoin, ethereum, litecoin and bitcoin cash. But at around 10:50 p.m. ET, the price of ethereum fell below $1,000 again to trade at $973. The declines followed comments from South Korean authorities that indicated tougher regulation on digital currency trading. However, there was no immediately apparent driver behind the late-afternoon decline. Bitcoin dropped 28 percent to a low of $9,969 on Coinbase, but quickly jumped back up to trade back above $11,000 as of 8:12 p.m., ET. At about 10:50 p.m. ET, bitcoin prices slipped again to trade at $10,757. Bitcoin has now nearly halved in price after topping $19,800 in mid-December. But the digital currency remains more than 1,100 percent higher over the last 12 months, according to Coinbase. Ripple , the third-largest digital currency by market capitalization, traded near $1.05 after earlier plunging 46 percent to near 90 cents, according to CoinMarketCap. Last week, the site began excluding prices from some South Korean exchanges, where ripple trades about 20 cents higher. Continue reading >>

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