Exchange of bitcoin in the USA Coinbase has avoided any reaction from its user base to support the bitcoin forks.
The company announced on its blog that it plans to support the withdrawal of Bitcoin Forks through its suite of products in the foreseeable future.
We have already seen several new coins created from Bitcoin Forks, the most common of which are Bitcoin Cash, but also Bitcoin Gold and Bitcoin Diamond, to name a few. Now Coinbase is preparing for more. This does not mean that Coinbase will add more currencies to trade in its GDAX digital asset exchange, at least not yet.
“We are not announcing support for any specific asset at this time.” As always, we consider the technical, operational and legal considerations when deciding which Bitcoin Fork assets to admit and we will always indicate on which sites of our website the assets are admitted. . – Coinbase
Coinbase got into a lot of trouble with investors last year over a failed Bitcoin Cash launch. Investors claimed that it involved privileged information, which gave the company’s internal staff an advantage over them and led to collective trials against the exchange. This time, Coinbase says clearly that it is following the protocol and says:
“We are announcing this, both internally and publicly, in a manner consistent with our process to add new assets.”
Subsidiaries of Coinbase
Coinbase is the parent company of several subsidiaries, most of which will support Bitcoin Fork withdrawals. The company described the approach that each of its companies will take to support Bitcoin Forks.
Custody of Coinbase: Will develop infrastructure to support Bitcoin Forks. The company said that Coinbase Custody will likely support a larger number of bifurcated assets compared to its GDAX or Coinbase platforms.
GDAX will also develop the infrastructure to support Bitcoin Forks for the assets that remain on this platform when the fork occurs. They remind you that adding support for withdrawals does not extend to the negotiation of the asset.
Coinbase index fund: Coinbase has an index fund that offers investors exposure to the currencies listed in GDAX. It is open to accredited US investors and will support Bitcoin Fork withdrawals. The assets are added to the index on a weighted basis of market capital, similar to the S & P 500 index for shares.
Coinbase: “anticipates the infrastructure to support the withdrawal of Bitcoin Forks for assets that remain on the platform at the time of the fork.” Coinbase reminds operators that they will only list assets in the platform once they are added to GDAX and just because a currency appears in GDAX does not mean that it will necessarily be compatible with Coinbase.
Coinbase Commerce: this is a payments platform powered by a private key and, therefore, the merchant is the control of the assets.
Coinbase has also just announced Coinbase Ventures, an investment vehicle for start-up companies.