01 Dec 2022
The XRP, Stellar (XLM), Bitcoin Cash (BCH), and Ethereum Classic (ETC) will no longer supported in the Coinbase wallet
Coinbase, a leading cryptocurrency exchange in the United States, has announced it will stop supporting low-usage cryptocurrencies on its self-custody digital wallet.
By the end of the year, XRP, Stellar (XLM), Bitcoin Cash (BCH), and Ethereum Classic (ETC) will no longer be supported, according to Coinbase Wallet.
“After careful evaluation, we will be removing support for several networks with low activity on Coinbase Wallet starting in January 2023 including – BCH, ETC, XLM & XRP.”
According to Coinbase Wallet, it assesses crypto assets to develop better features. It released an update earlier this year that allows users to view offers directly from popular non-fungible token (NFT) marketplaces OpenSea and Rarible.
“These routine evaluations allow us to continue investing in new features that make Web3 more accessible.”
The company guarantees users that they won't lose their unsupported assets.
“Rest assured that any balances of these assets held in a Coinbase account (Coinbase.com or the Coinbase mobile app) will not be impacted.”
Customers who own any of the unsupported assets can still access them, according to Coinbase, by using the recovery phase of their Coinbase Wallet.
“In order to view or transfer these assets after January 2023, you will need to import your recovery phrase on another non-custodial wallet provider that supports these networks.”
XRP is currently trading for $0.40, XLM for $0.089, BCH for $112, ETC for $20.22 at the time of writing.
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