Dogecoin The Dogecoin cryptocurrency the meme-based cryptocurrency which has enjoyed a string of successes in recent months has been added to the cryptocurrency trading platform Coinbase which is a major achievement for the humorous cryptocurrency.
It’s kind of. Coinbase Pro announced on Tuesday that Dogecoin was now accessible via the Coinbase Pro where trading is now permitted.
- Trade for Doge will start around 10 a.m. MMT on Thursday.
But, Dogecoin is not accessible through Coinbase.com or the Consumer mobile applications. There will be an additional announcement as and when it happens according to Forbes.
- Coinbase Pro is an exchange site for digital assets which allows users to exchange for digital assets, like cryptocurrency.
Dogecoin and Coinbase reports
There are rumors of Dogecoin could soon be accessible on Coinbase. In a report to CNBC, the cryptocurrency exchange application Coinbase stated that Dogecoin will be available within the next six to 8 weeks.
According to MarketWatch, Coinbase CEO Brian Armstrong stated that Coinbase needs to enhance its functions before it is able to allow customers to exchange Doge.
The change is a major one for Dogecoin. In the moment, most people are using the Robinhood application to purchase and sell Dogecoin. However, Coinbase was home to 43 million users on its own in 2020 and 2.8 million of them conducting transactions per month. This has opened Dogecoin to be accessible to an even larger number of users.
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The exchange is expected to increase interest in the meme-based cryptocurrency by offering the $1.2 million giveaway.
Retail customers of Coinbase are now able to sell, buy as well as store dogsweeps (DOGE, -1.82%) on the exchange, the company said in an article on its blog. To entice interest, Coinbase has launched an $1.2 million Dogecoin giveaway.
- Investors who choose to participate and make a purchase of 100 dogecoins are eligible to participate in the offer.
- Coinbase has released websites with information about dogecoin as well as an area that will address frequently asked queries about cryptocurrency.
- The news came out on Tuesday. the Exchange declared that it would be making the move to add the meme-inspired currency to its trading platform for professionals, Coinbase Pro.
- Its timing for the latest announcement was different from Coinbase previous precedents when it listed cryptocurrencies. Coinbase usually adds cryptocurrencies to their retail platforms couple of weeks after the initial announcement the cryptocurrencies on the Professional version.
- The Coinbase announcements have not been able to increase the price of which had dropped about 6 percent to $0.39 in the date of publication.
- Dogecoin has fallen from its record peak in the amount of $.72 in May, after beginning the year at just a only a fraction of a penny.
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