XRP set to trade on Coinbase | Suspected wash trading rife at major exchanges, per study

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“It’s ingenious and blockchain is important but bitcoin has no unique value at all. It doesn’t produce anything, you can stare at it all day and no little bitcoins come out or anything like that.” — Warren Buffett, CEO Berkshire Hathaway

The Big Block

It is a day that’s been long awaited by one vocal corner of the cryptocurrency world. 

XRP, the cryptocurrency associated with payments firm Ripple, will soon trade on Coinbase, one of the largest crypto exchange operators in the United States, the company announced Monday.

“After 10am PT on February 25, 2019, we will begin accepting inbound transfers of XRP to Coinbase Pro,” the firm said in a press release. “We will accept deposits for a minimum of 12 hours prior to enabling full trading. Please note that inbound transfers require the specification of an XRP destination tag.”

To start, XRP is not available on Coinbase.com or via its mobile apps, the press release noted. There will be four stages for XRP’s listing on Coinbase, according to a blog. 

  1. “Transfer-only. Starting at 10am PT on Feb. 25, customers will be able to transfer XRP into their Coinbase Pro account. Customers will not yet be able to place orders and no orders will be filled on these order books. Order books will be in transfer-only mode for at least 12 hours.”

  2. “Post-only. In the second stage, customers can post limit orders but there will be no matches (completed orders). Order books will be in post-only mode for a minimum of one minute.”

  3. “Limit-only. In the third stage, limit orders will start matching but customers are unable to submit market orders. Order books will be in limit-only mode for a minimum of ten minutes.”

  4. “Full trading. In the final stage, full trading services will be available, including limit, market, and stop orders.”

Read More on The Block (3 Minutes)

Around The Block

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