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New assets and services from Coinbase

03/14/2019
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Coinbase trading platform was able to integrate its Custody cryptocurrency storage service into an over-the-counter trading platform. At the same time, the news came that the exchange had listed a new asset - Stellar Lumens.

Custody service from Coinbase

For large investors, the problem of storing cryptocurrency assets is highly relevant. They cannot hold large volumes of liquidity on trading accounts, which leads to delays in conducting transactions.

One of the reasons why the US Securities and Exchange Commission rejected an application to trade Bitcoin-ETF contracts was the lack of a secure cryptocurrency storage service. With the solution of this problem, another obstacle to the emergence of a new instrument has been eliminated.

Previously, to conduct a purchase or sale, it was first necessary to transfer tokens from the “cold” cryptocurrency storage, which took up to two days. If we consider that over-the-counter trading is already associated with an increased risk, such a delay adversely affected the volume of operations.

After integration into the custody service platform, the operation will take place without the slightest delay. This will remove the risks of price fluctuations and make transactions more stable.

Stellar Lumens on Coinbase

The second important news from the Coinbase Exchange is a listing of the popular Stellar Lumens cryptocurrency. However, for now, it will be available only on a professional platform. Nothing is reported about plans to expand the range for ordinary users.

On the news that Stellar Lumens began to bargain on the Coinbase exchange, its price instantly soared by 3%. Growth did not stop there, and the daily increase was 5.32%.

The cryptocurrency platform Stellar Lumens is a consensus platform with complete decentralization. It has a built-in exchange of digital financial assets and allows for instant trading. That is, Coinbase clients have the opportunity to transfer any digital assets into euros or dollars with just two transactions.

What is Coinbase cryptocurrency exchange

This marketplace was established in 2014 in the United States. Now it has become the largest in the country, the number of users has long exceeded 10 million people and continues to grow. Security of funds is ensured by their storage on hardware wallets, this is where more than 90% of assets are located.

However, for large investors, there is a cryptocurrency storage service on “cold” wallets. That is, access to them can only be obtained by manually entering a password. Its loss leaves the client without money for sure, since it is virtually impossible to pick it up.

The company operates in 32 countries of the world, and its official website supports 9 languages. For the purchase and sale of assets there are several types of trading platforms. Coinbase is owned by large financial institutions, including the New York Stock Exchange.

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