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Coinbase Pro Now Offers Ethereum Classic

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Coinbase Pro Now Offers Ethereum Classic

After the final testing has gone according to plan, Coinbase Pro now offers Ethereum classic on their platform. Just like other cryptocurrency trading platforms such as Ethereum classic on Robinhood.

Coinbase Pro Now Offers Ethereum Classic

Coinbase has begun the lunch of Etherum Classic (ETC) on their exchange at Coinbase Pro. Once sufficient liquidity has been established ETC then can be offered at Coinbase.com.

Two months ago, GDAX, a Coinbase’s professional trading platform for individuals, has split into Coinbase Pro and Prime. While Coinbase Pro is the exchange for individual traders, Coinbase Prime is the exchange for institutions.

In an announcement blog post, David Farmer, Coinbase Pro’s General Manager, wrote:

“We announced final testing for Ethereum Classic (ETC) last Friday, with a goal of accepting ETC transfers for exchange users by Tuesday, August 7th.”

The testing went well, and they decided to be launching ETC support on their exchanges and followed with Coinbase.com. The launch will start with four stages: transfer-only, post-only, limit-only, and full-trading mode.”

The Stages of the Ethereum Classic Launch

The ETC launch will launch in 4 stages:

  1. Transfer-only. Customers will be able to transfer Ethereum Classic beginning at 10 am PT on Tuesday, August 7th. Traders cannot place orders, and orders will not be filled on these order books. Order books will be in a transfer-only mode for 24–48 hours.
  2. Post-only. 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 10 minutes.
  3. Limit-only. 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 10 minutes.
  4. Full trading. In the final stage, full trading services will be available.

Coinbase is looking at expanding further

David Farmer also notes that Ethereum Classic is just a first step towards having the assets people are willing to trade. They announced last month that they are exploring many other assets to add to the platform, and customers should expect to see similar announcements in the future.