It has been a long time in the making, but Coinbase has finally integrated support for Ethereum. After months of promise and speculation what it would do for the ETH price, the integration is now complete. Coinbase users can buy Ethereum with the support payment methods, or exchange it against Bitcoin directly. CEO Brian Armstrong mentioned the company might add other currencies in the future.
It didn’t take long for the Ethereum price to respond to the Coinbase news. Almost immediately, the charts started showing strong buy support. For most investors and speculators, this is another long-term investment, in the hopes of seeing the value per ETH go up over time.
That being said, the addition of Ethereum to Coinbase has been in the making for quite some time now. The company finally enabled support for this popular altcoin. This news also gave Coinbase CEO Brian Armstrong another opportunity to take a jab at Bitcoin for its lack of scalability. Ethereum seems to be doing a better job in that department; that much is certain.
What is rather interesting is how Coinbase may look at adding other cryptocurrencies in the future. The company is actively looking for user feedback on which coins they would like to see added. Pump-and-dump schemes will never make it to Coinbase, though, for obvious reasons. But this could give established altcoins a chance to gain more traction.
So far, the cryptocurrency community seems to be in favor of having Monero added to Coinbase. Bitcoin Core developers have praised Monero developers for their cryptographic work, and the cryptocurrency is gaining a lot of traction all over the world. With a strong focus on privacy and anonymity – both of which lack in Bitcoin and Ethereum – it could make for an exciting addition to the exchange.
This outspoken support for Monero does not mean it will be added to Coinbase anytime soon, though. It has taken Coinbase several months to add Ethereum integration, and a similar time “schedule” is expected for future additions. Dash would be another contender, although it is receiving a lot less support in the Reddit thread so far.
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