Coinbase, an American cryptocurrency exchange, has announced the launch of full trading support for the Basic Attention Token (BAT) on its platform. Customers can now buy, sell, send, receive, and store BAT alongside other digital currencies. The token will be available in most jurisdictions, excluding New York.
Coinbase Launches Full Trading of Basic Attention Token (BAT)
San Francisco, November 8, 2019 - Coinbase, a leading American cryptocurrency exchange and wallet provider, has officially launched full trading of the Basic Attention Token (BAT) on its platform, as announced in a blog post published today.
Customers of Coinbase can now engage in a wide range of transactions involving BAT, including buying, selling, sending, receiving, and storing the token. This expansion follows the exchange's announcement last week that it had begun accepting inbound transfers of BAT to its Coinbase Pro platform, signaling the imminent commencement of trading once sufficient liquidity was established.
The listing of BAT on Coinbase Pro entailed a phased approach, comprising four distinct stages:
- Transfer-only: Users can deposit BAT into their Coinbase Pro accounts.
- Post-only: Customers can place limit orders for BAT.
- Limit-only: Limit orders begin to match.
- Full trading: Access to all trading services, including limit, market, and stop orders.
Upon the announcement of BAT's initial listing on Coinbase Pro, the token's price experienced a surge of over 20%, demonstrating the anticipation within the cryptocurrency community. While the price response to today's full trading launch has been more moderate, BAT has exhibited a steady upward trend on its weekly chart, rising from $0.253 on November 2nd to a high of $0.379.
Coinbase's decision to list BAT is part of its broader strategy to expand its offering of digital currencies. In October, the exchange added support for 0x (ZRX), making it the first ERC-20 token available for trade on its platform. In the same month, Coinbase also launched the first U.S. dollar stablecoin, USDC, in partnership with Circle, a blockchain-powered payments technology company.
The listing of BAT on Coinbase is expected to further increase the accessibility and adoption of the token. BAT is a utility token designed to reward users for their attention and engagement with online advertising. The token can be used to access premium content, support creators, and participate in the Brave Rewards ecosystem.
Coinbase's announcement underscores the growing mainstream acceptance of cryptocurrency. By adding BAT to its platform, Coinbase is providing its vast customer base with a convenient and secure way to interact with a token that plays a crucial role in the emerging digital advertising landscape.
