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has announced that it will no longer support Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP), or Stellar (XLM) on Coinbase Wallet as of January 23. The move is “due to low usage” of the assets on the platform. Coinbase Wallet is a self-custody mobile app, similar to other software wallets such as MetaMask, though with a wider array of support for crypto assets.
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will still be able to access the coins and tokens via Coinbase’s exchange. Despite it removing the assets from its wallet product, users would be able to recover them via their recovery phases. BCH is a Bitcoin spin-off that came about after a hard fork. Its selling point, its community says, is that it can be used for quicker and faster payments than the original Bitcoin. ETC is another spin-off: it is the cryptocurrency behind Ethereum Classic blockchain which allows people to build upon its network.
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is the token behind the XRP Ledger, originally called Ripple, the same name as the crypto payments company founded by XRP’s creators. The XRP Ledger is a blockchain launched to help banks and other financial institutions move money fast and without fees. XLP, like XRP, is a token that is used on the Stellar blockchain and payment network, and is itself a spinoff of sorts. Stellar, developed by a Ripple co-founder, was created to help move money across borders economically. BCH’s market cap currently stands at $29 billion. ETC’s market cap currently stands at $2.2 billion. XLP’s market cap currently stands at $19.6 billion.
