Exchange companies are very important to the growth of Cryptocurrencies. When a major exchange company like Coinbase adopts a specific currency people trust the cryptocurrency more that when it does not appear in major exchange companies.
Coinbase has been operating under very high traffics. This has led the company’s website to have several server outages. People have also come out criticizing the company for slow transaction time and little or no support. Recently the company had to suspend operations when Litecoin’s rally was very high. With all these new things are expected at the company next year.
In a recent interview, Coinbase CEO Brian Amstrong who is also one of the Co-founders talked about how cryptocurrencies were becoming the next generation stock markets. The CEO said that the company was introducing a new service which would allow traditional investors buy and store Cryptocurrencies.
In his statement: “Our company is working hard to become the first qualified custodian for all institutions that were seeking to store cryptocurrencies.”
What seemed to be very interested came when he started talking about altcoins. The CEO said that Coinbase was planning to expand altcoin listings in 2018. “The altcoin that is currently exiting everyone are Bitcoin, Litecoin, and Ethereum but our company will add much more in 2018. This is going to be very exciting especially for institutional investors.” He added.
Coinbase stand on ICOs
When the CEO was told to comment about ICOs and SEC regulations that the company had not added ICOs on the platform because of the regulatory uncertainty. He said that not only Coinbase was cautious about ICOs, but other exchanges were cautious. Some of the areas that people need to be very careful with is customer demand, the diligence of the involved team, regulatory risks among others.
The CEO concluded by saying that Coinbase was very committed to providing a safe environment and a place where customers would have assets which they can trust and participation in the trading market.
There has been a lot of speculation on the altcoins likely to appear on Coinbase in 2018. Most likely in 2018, we will see NEO, IOTA, Bitcoin Cash, and Ripple. There is also a likeliness of having Dash, Monero, Nem and Bitcoin Gold appearing. For now, it’s not clear, but we may still have all the above-named altcoins on Coibase.
The adoption of more cryptocurrencies by Coinbase will be important in the growth of the industry. This means that the dominance of Bitcoin will also be reduced since people will have more options in the exchange company which is one of the biggest in the word. People will also trust altcoins which appear in the company since it’s a very trusted exchange company.