Coinbase Introduces Inbound Transfer for Brave’s Basic Attention Token (BAT)

One of the leading cryptocurrency exchange Coinbase recently announced in a blog post that the exchange has started accepting inbound transfers for Brave’s Basic Attention Token (BAT) to Coinbase Pro, from November 2.

BAT is an Ethereum-based token integrated with the blockchain-powered privacy-focused web browser Brave. During its Initial Coin Offering (ICO) for BAT, Brave successfully raised $35 million in 30 seconds.

 

Rumors related to BAT being included to Coinbase’s platform have been doing the rounds since the last month when the coin showed tremendous growth in a week. On October 22, BAT experienced a major performance when the coin hiked by 57% in a week and reached $0.29.

 

The official announcement also notified that BAT is not yet available at Coinbase.com or in its iOS and Android apps. The company will notify people with separate announcements whenever the token becomes available on these Coinbase platforms. Meanwhile, the exchange stated that:

— It will accept deposits for at least 12 hours prior to enabling trading.

— Trading on the BAT/USDC order book will commence once people start making their deposits and the required liquidity is established.

— Users will be able to convert their USD to USDC using ‘one-click’ within the Pro interface.

— Users will be able to access BAT trading in most jurisdictions, but initially, the service will not be available for residents of the state of New York.

According to the post, BAT trading will go through four stages

  1. Transfer-only: Starting from 1 pm on November 2, investors can transfer BAT into their Coinbase Pro account.
  2. Post-only: Investors can post limit orders but there will be no matches or completed orders. Order books will be in the post-only mode for a minimum of one minute.
  3. Limit-only: Limit orders will start matching, but customers will not yet be able to submit market orders. Order books will be in the limit-only mode for a minimum of ten minutes.
  4. Full trading: Full trading services will be available, including limit, market, and stop orders.

The exchange assures its investors that it would send tweets from the Coinbase Pro Twitter account as each order book goes through the phases mentioned above.

Coinbase’s primary objective has been to create an open financial system for the world. This driving force can be attributed to Coinbase’s positive attitude toward new coin listings. Till date, it has added multiple new tokens to its platform, Basic Attention Token (BAT) being the latest one.

Earlier in October, Coinbase launched trading of the first ERC-20 token on its platform— 0x (ZRX). Again later in the same month, the exchange entered into a partnership with blockchain-powered payments technology company Circle and launched the first U.S. dollar stablecoin— USDC.

Related Cryptocurrency News