Cryptocurrency

Coinbase Wallet to stop supporting ETC, XRP, BCH, and XLM tokens

Due to low usage, the Coinbase Wallet is discontinuing support for ETC, XRP, BCH, & XLM. The assets will be linked to the user’s address and accessible via Coinbase Wallet.

Coinbase Wallet recently announced that it would stop supporting ETC, XRP, BCH, and XLM. The reason behind the move is the tokens’ low usage.

According to almost every Coinbase Wallet review, the platform offers reliable services. Thus, the coins have taken a huge loss with the development. The latest blog by Coinbase states that users will not instantly lose unsupported assets.

The assets will remain connected with the user address, and customers can access them during the recovery phase. Users must import the recovery phrase or similar wallet provider to transfer or view the assets after January 2023.

As soon as the updates are implemented, users will lose the ability to send or receive unsupported assets via Coinbase Wallet. Currently, the platform supports EVM and Ethereum-compatible networks in its browser and mobile extension.

Here are the networks configured on the platform, but users can also add other ones manually:-

  • Arbitrum
  • BNB Chain
  • Avalanche C-Chain
  • Gnosis Chain
  • Optimism
  • Fantom Opera
  • xDai
  • Polygon
  • Solana

Users can find more information about the wallet and similar platforms to find their best options. Other than that, customers can check the ERC-20 tokens supported on Coinbase Wallet using these steps:-

  • Launch the Coinbase app and click on “Receive.”
  • Toggle the search bar and look for the asset.
  • Select the asset before choosing the wallet address.

The platform now only allows crypto-to-crypto conversion for Polygon, Avalanche C-Chain, BNB Chain, and Ethereum-based assets.

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