In a move that’s sure to excite cryptocurrency enthusiasts, Coinbase Custody has recently announced the addition of support for 16 altcoins. Among these, 13 are Ethereum based tokens, expanding the platform’s offerings and providing users with more options for diversifying their investment portfolios.
For those unfamiliar with the concept, Coinbase Custody is a secure and trusted platform that offers institutional-grade offline storage solutions for digital assets. This service is designed to cater to the needs of institutional clients who require a high level of security and regulatory compliance for their cryptocurrency holdings.
The inclusion of 16 new altcoins on Coinbase Custody means that users can now securely store a wider range of digital assets on the platform. This move reflects Coinbase’s commitment to providing top-notch custodial services and keeping up with the evolving landscape of cryptocurrencies.
Some of the notable altcoins that have been added to Coinbase Custody’s supported list include Aave (AAVE), Uniswap (UNI), Compound (COMP), and Maker (MKR). These tokens are all built on the Ethereum blockchain, which has established itself as a leading platform for decentralized applications and smart contracts.
By adding support for Ethereum based tokens, Coinbase Custody is catering to the growing demand for these assets among institutional investors. Ethereum’s versatility and robust ecosystem have made it a popular choice for developers and users alike, leading to a proliferation of tokens and decentralized finance (DeFi) projects on its network.
In practical terms, the addition of these altcoins means that users can now store their AAVE, UNI, COMP, MKR, and other supported tokens securely on Coinbase Custody. This provides peace of mind for investors who value the safety and reliability of a trusted custodial service.
Coinbase Custody’s decision to expand its supported altcoins is also a testament to the platform’s ongoing efforts to stay ahead of the curve in the dynamic world of cryptocurrencies. By offering a diverse range of assets for storage, Coinbase Custody is positioning itself as a key player in the institutional crypto custody space.
For users looking to take advantage of this new development, the process of storing altcoins on Coinbase Custody is straightforward. Simply create an account on the platform, deposit your desired altcoins, and follow the instructions to securely store them in offline storage.
Overall, the addition of support for 16 altcoins, including 13 Ethereum based tokens, on Coinbase Custody is a positive step that underscores the platform’s commitment to innovation and customer satisfaction. With this expansion, users now have more options to securely store their digital assets, further solidifying Coinbase Custody’s position as a trusted custodial service in the cryptocurrency industry.
