Finst

Coinbase Wallet stops supporting XRP, BCH, ETC and XLM

Relatively low usage will cause Coinbase Wallet to stop supporting several cryptocurrencies starting next year.

By Finst News
• 3 min read
Coinbase Wallet stops supporting XRP, BCH, ETC and XLM

Relatively low usage prompts Coinbase Wallet to drop support for several cryptocurrencies starting next year.

From January 2023, Coinbase Wallet will no longer support several cryptocurrencies due to low usage. This follows a corresponding announcement. The "upcoming coins and networks" that will be affected are: BCH, ETC, XLM and XRP.

The coins will remain available for a while

Coinbase clarifies, however, that the "Coins held in the wallet will not be lost." Specifically: "All unsupported coins you own will still be tied to your address(es) and accessible via your Coinbase Wallet recovery phrase. To view or transfer these balances after January 2023, you must transfer your recovery phrase to another non-custodial wallet provider that supports these networks," it continues.

Coinbase urges customers to verify whether the wallet supports the "specific network on which the coins are held." Meanwhile, it says this will have "no impact on support for listed coins on Coinbase.com or the Exchange app." Recently, whistleblower Edward Snowden voiced concerns about the crypto exchange and its relationship with regulators. Read more here.

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.