Coinbase, probably the most famous of all Bitcoin exchange and trading platforms, is getting ready to add Ethereum trading, as several users have noticed on social media.
Ethereum is not a bastard Bitcoin version, but a standalone cryptocurrency, completely different from Bitcoin, built from the ground up. Ethereum is the public blockchain’s name while the actual cryptocurrency itself is called Ether (ETH).
Ethereum is Coinbase’s first non-pure-Bitcoin trading system
On the other hand, Coinbase is one of the most stable Bitcoin exchange platforms, being backed by many well-known and established financial organizations. This has helped the platform gain popularity, mainly because there’s a smaller chance that someone would run away with the client’s Bitcoin and have nobody to sue afterward like it happened many times these past months with other Bitcoin trading platforms.
Ever since its launch, Coinbase has remained dedicated to one cryptocurrency alone, and that was the original Bitcoin. No Litecoin, no Dogecoin, no Metalcoin, or other shady currency.
For a long time, Coinbase has offered exchange rates for Bitcoin to US Dollar, Canadian Dollar, British Pound, and Euro. During this past week, some users spotted two new currency exchanges added to the platform’s menu, and that was Ether to Bitcoin and Ether to US Dollar.
After the news had leaked on Twitter, the company pulled the changes from both its site menu and the API. It all seemed like an accident, or a beta test gone wrong.
Coinbase company to rebrand as GDAX
Nevertheless, the news broke, and the Bitcoin community reacted, mainly in a possitive tone. A day later, Reuters reported that Coinbase wasn’t only adding Ethereum trading, but the company was actually preparing a rebrand, planning to rename its parent company from Coinbase to GDAX, or Global Digital Asset Exchange.
The change supposedly comes in preparation to add a more diverse offering of cryptocurrencies, said Adam White, vice president of business development at Coinbase.
Until that happens, Coinbase’s decision to add Ethereum trading means a lot for the cryptocurrency, which is already considered a solid Bitcoin alternative, if the Bitcoin infighting finally manages to destroy its ecosystem.