Earthmeta Earthmeta

Full Trading of 0x Protocol Token (ZRX) Enabled on Coinbase

| Updated
by Julia Sakovich · 3 min read
Full Trading of 0x Protocol Token (ZRX) Enabled on Coinbase
Photo: 0x / Twitter

San Francisco-based cryptocurrency exchange Coinbase has opened trading for 0x (ZRX), which has become the first ERC-20 token listed on the platform.

One of the major crypto exchanges in the world, widely known Coinbase has announced that users of as well as users of its Android and iOS apps now will have an opportunity to trade, buy, sell or store ZRX.

Such an announcement means that ZRX, the token representing the 0x Project, is the first ERC-20 token to be listed by the exchange.  Earlier, traders using Coinbase had an opportunity to work only with Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin.

According to the statement made by Coinbase, ZRX will be available in most jurisdictions, nevertheless, initially, there will be some geographical restrictions. For example, residents of the state of New York and the United Kingdom will not have a possibility to enjoy the benefits of the newest initiative but it is expected that quite soon this issues will be adjusted.

ZRX Support by Coinbase Pro

This announcement just followed another piece of news. On October 11, it was revealed that Coinbase had added 0x protocol’s ZRX token to its professional trading platform Coinbase Pro.

The Coinbase Pro exchange started offering three trading pairs ZRX/USD, ZRX/BTC, and ZRX/EUR, nevertheless, last week these possibilities were available exclusively only for Coinbase Pro users.

When it became obvious that ZRX’s addition to the platform mentioned above was positively welcomed, the company realized an urgent necessity to add this token to the list of coins available on their more popular platform – that can boast a wider audience.  So, these previously existing limitations are in the past.

Coinbase Plans for Improving its Offerings

Coinbase has always been trying to listen to their customers with a view to take into consideration their interests and demands while widening their offerings. The most common requests that the company has received were related to new opportunities to trade more digital assets on the platform.

The plans to add support for ERC-20 tokens were revealed in March. At that time exchange stated that their team had evaluated a number of factors including liquidity, price stability, and other market health metrics and had taken a decision to add any ERC-20 asset added to GDAX to the Coinbase platform. Nevertheless, there was no any final decision in March.

Some month later, in July, it was announced  by Coinbase that they  were considering the addition of ZRX support to the platform, though there were four other tokens under consideration: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), and Zcash (ZEC).

The company’s Vice President and GM of Coinbase Consumer, Dan Romero, wrote in the official statement that Coinbase is actively investing in new instruments and initiatives aimed at helping users to learn more about cryptocurrencies and explore them.

It was also mentioned that the company had launched informational asset pages and added a new website section to answer frequently asked questions about crypto.

Altcoin News, Cryptocurrency News, News
Related Articles