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ADA Being Considered for Coinbase Custody and Exchange

March 2, 2021 by Buzzle Staff

Quick Edit: Cardano is now live on Coinbase, as of 3/17/2021!

Cardano (ADA) users will be able to stake and store their funds safely and securely in a cold wallet on Coinbase Custody. Cryptocurrency assets will remain active investments while in cold storage on Coinbase Custody. Coinbase Custody is considering Cardano for inclusion and Coinbase is prospecting ADA for inclusion on its exchange. Cryptocurrency has a reputation for being volatile and insecure. The partnering of the revenue-generation of ADA staking with the security of storing tokens in a safe cold wallet is attractive to institutional investors.

Active Staking from Cold Storage

Active staking from cold wallets will allow institutional and enterprise investors to generate periodic income while not risking their currency to pirates or hackers. Once ADA is accepted by Coinbase Custody, it will find more mainstream acceptance which will help Cardano flourish in the crypto markets.

The partnership between Cardano (ADA) and Coinbase will bring institutional-grade storage solutions to enterprises. In proof-of-stake blockchains like Cardano, blocks are verified by ADA token holders who receive periodic payments. Coinbase has explored the ADA token for potential listing on its exchange since mid-2018.

ADA on Coinbase Custody

Coinbase Custody is an independent, NYDFS-regulated, entity built on Coinbase’s crypto-first DNA. Coinbase could list ADA on their exchange by the end of 2020. A Cardano developer release announced that an ADA listing on Coinbase may be in the works. Coinbase considers additional cryptocurrencies very carefully and with great caution. Government regulations and restrictions have made it harder for exchanges to add new coins to their stables.

Decentralized Computing

Cardano is a blockchain technology platform founded by the co-founder of Ethereum, Charles Hoskinson, and developed to be a secure, fast, and scalable blockchain. Cardano is both a cryptocurrency (ADA) and a decentralized computing platform. Recently the company that manages ADA, IOHK, launched Shelley, the latest upgrade to the Cardano blockchain. It brings scalability and greater decentralization to Cardano.

Staking ADA Tokens

You can stake ADA tokens outside of Coinbase Custody and staking Cardano earns you periodic residuals and royalties as a return on your investment (ROI). Cardano staking operates on a cyclical basis. Staking Cardana ADA tokens helps fund the network.

Cardano uses an extremely scalable proof-of-stake algorithm called Ouroboros—an ancient symbol depicting a snake eating its own tail—that validates transactions without high energy costs.

Safe and Profitable

Cryptocurrency investments are either at-risk or in safe storage. Institutional investors want their assets to generate revenue and offer a return on investment. Once Coinbase adds ADA to Coinbase Custody, enterprise and industrial investors will be able to securely store their crypto assets while generating periodic stakeholder revenue. These investment vehicles are valuable for attracting corporate investors.

In Conclusion

There is no guarantee that Cardano will ever become a Coinbase cryptocurrency. Being included in Coinbase Custody will attract the attention of high-volume corporate investors who want rewards with very little risk. Inclusion on the Custody platform will make the ADA token much more popular and could pave the way to eventual inclusion in Coinbase or Coinbase Pro.  Acceptance by big-business often results in popular general acceptance and Cardano is on its way.

Filed Under: Alt Coins Tagged With: ada, ada coinbase, algorithm, cardano, coinbase, coinbase custody, cryptocurrencies, cryptocurrency, cryptocurrency exchange, enterprise, industrial, ouroboros, proof of stake, roi, stakeholder, token, tokens

Further Insights

Coinbase Referral: How to Make Extra Money on Coinbase
March 31, 2021
Coinbase Status: Security and Account Information for New Investors
March 30, 2021
Tezos Value: History of a Uniquely Volatile Crypto Platform
March 29, 2021

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