Crypto Exchange Coinbase Pro Is Adding Support for Orchid Trading

Published at: Dec. 12, 2019

Major American cryptocurrency exchange Coinbase is adding support for Orchid (OXT) on its professional trading platform Coinbase Pro.

According to a blog post published by Coinbase on Dec. 12, Coinbase Pro will start accepting OXT deposits starting Friday, Dec. 13, “for at least 12 hours prior to enabling full trading.” The company also noted:

“Once sufficient supply of OXT is established on the platform, trading on the OXT/USD order book will start in phases, beginning with post-only mode and proceeding to full trading should our metrics for a healthy market be met.”

As the company has done in the past, Coinbase Pro will ramp up to full OXT trading in four steps: transfer-only, post-only, limit-only and finally full trading. 

Coinbase also notes that OXT is not yet available on Coinbase.com, or via its mobile apps, but pointed out that it will make a separate announcement if and when this functionality is added.

Support for OXT not available everywhere

The crypto exchange also added that not everyone will be able to enjoy the new features. According to the announcement, OXT will be immediately available in Coinbase’s supported jurisdictions, with the exception of New York State and the United Kingdom. Additional regions “may be added at a later date.”

Orchid offers a decentralized virtual private network (VPN) service for anonymous communication and virtual private networking. It includes a bandwidth market where node providers stake tokens to advertise their services using the Ethereum blockchain and receive payment in Orchid's native cryptocurrency OXT.

As Cointelegraph previously reported Coinbase Pro also added support for Tezos (XTZ) in July, and DASH in September.

Coinbase Pro released iOS mobile app

In October, Coinbase introduced a mobile app for Coinbase pro customers. The iOS mobile app provides access to more than 50 trading pairs for users in over 100 countries, and duplicates the platform’s features including real-time candles, depth charts, order books and types. Users of the app reportedly pay the same fees for orders as those executed on the desktop platform.

Tags
Blockchain
Cryptocurrencies
Related Posts
Altcoins notch triple-digit gains as Bitcoin price pushes toward $60K
If this past weekend is any indication of the current bull market cycle, then an altcoin season may be well underway. Similar to previous cycles, after Bitcoin (BTC) makes a significant run-up in price and then enters a consolidation period, funds begin to migrate into large and small market cap altcoins. Data from Cointelegraph Markets and TradingView shows that while Bitcoin traded in a range between $57,000 and $60,200 over the past week, multiple altcoins saw double-digit gains as exchange listings and protocol developments brought a new wave of enthusiasm and trading volume for select projects. Tron ecosystem leads the …
Blockchain / April 6, 2021
XRP price surges 55% to a 3-year high amid push for financial inclusivity
The price of XRP saw a 55% breakout over the past two days as the sixth-ranked cryptocurrency by market capitalization has renewed its focus on the creation of a cross-border payment network that is inclusive and sustainable. Data from Cointelegraph Markets and TradingView shows that XRP dropped to a low of $0.566 in the early hours on April 4 before a wave of trading volume helped lift its price to a high of $0.877 within the last few hours. The uptick in trading volume was sparked after Ripple posted a blog titled “Creating a More Financially Inclusive and Sustainable Future” …
Blockchain / April 5, 2021
Major Bank CEOs Testify at US Congress, Topics Include Blockchain and Crypto
Chief executive officers of leading banks testified before the United States House of Representatives Financial Services Committee on April 10 on how the banking industry has transformed since the 2008 financial crisis. Among many topics spanning the breadth of the banking industry, the CEOs and lawmakers discussed blockchain technology and cryptocurrencies. During his allotted time for questioning, Rep. Warren Davidson (R) argued that the industry is entering into a new era of innovation, wherein blockchain technology is transforming existing financial systems, as well as cybersecurity. Davidson also noted that the U.S. is currently staggering behind due to regulatory certainty issues. …
Blockchain / April 10, 2019
Swiss National Bank Board Director: Central Banks’ Interest in Issuing Crypto Has Waned
Thomas Moser, a board director at the Swiss National Bank (SNB), believes that central banks’ interest in developing central bank-issued digital currencies (CBDCs) has now waned, Business Insider reports today, June 23. Moser told Business Insider at this week’s Zug Crypto Valley Conference that although there was initial interest among central banks in issuing CBDC or a national cryptocurrency, “enthusiasm has slowed again because of the implications it would have for financial stability:” "The whole technical issue, which excited everyone, really takes second place to this conceptual policy issue. The mood now is: everyone is monitoring it, some are experimenting …
Blockchain / June 23, 2018
Finblox withdrawal restrictions trigger concerns from the community
Finblox, a crypto-staking platform backed by Three Arrows Capital (3AC) has paused reward distributions and tightened its withdrawal limits. Following this, community members expressed concerns over their assets, with some calling for transparency and bringing up decentralization. In a tweet, Finblox announced that the firm is assessing the effects of 3AC’s situation on its liquidity. While the firm does this, it highlighted, Finblox has paused its reward distribution for all of its users and lowered its monthly withdrawal limit to $1,500. Many of the platform’s users were disappointed with the news, sharing their frustrations about not being able to withdraw …
Blockchain / June 17, 2022