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Coinbase And Robinhood Support Ethereum Classic




Why have two exchanges begun supporting ETC 24 hours apart?

In an August 6 blog post, the popular crypto exchange Coinbase announced its platform would begin supporting transfers in Ethereum Classic (ETC) Tuesday.

According to the blog post, trading in ETC will be available to most Coinbase customers, including those who use Coinbase Markets, Coinbase Prime, and Coinbase Pro. However, the exchange stated that Coinbase Consumer customers who did not withdraw their ETC before the hard fork in January 2017 would not receive corresponding Ethereum Classic credits, because it was not supported by Coinbase Consumer until after the fork took place.

The blog post also states, "We intend to allow 24–48 hours of transfers through Pro/Prime before opening the markets … Once sufficient liquidity is established, trading will then be enabled on Pro and Prime."

Also announced August 6, trading platform Robinhood revealed it would begin support for ETC today, just one day prior to Coinbase.

Some may question why the two exchanges decided to provide support for ETC specifically. According to Coinbase, the exchange frequently receives requests from customers to add additional assets to its platform.

Since both platforms already support the most popular digital currencies (e.g., bitcoin, Ethereum, and Litecoin), supporting ETC could simply be the next step for each company to grow its business and customer base.

Another possible reason for Coinbase's decision to support ETC could be attributed to Barry Silbert, ETC investor and Founder and CEO of the Digital Currency Group, which invests in Coinbase.

Silbert, who just happened to retweet both the announcements by Robinhood and Coinbase, gained some notoriety for being an ETC cheerleader. According to a 2016 article by Reuters, Silbert praised ETC on Twitter so often he was given the nickname "Barry Shillbert."

In July 2016 Silbert tweeted:

In May of last year, he reiterated his support for (and his company's dedication to) ETC:

Nathan Graham

Nathan Graham lives in Sparks, Nevada, with his wife, Beth, and dog, Kyia. Nathan has a passion for new technology, grant writing, and short stories. He spends his time rafting the American River, playing video games, and writing.

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