San Francisco-based crypto exchange has added support for Civic (CVC), Decentraland (MANA), and district0x (DNT).
Users of Coinbase.com (for retail traders) can begin trading these tokens. Support for CVC, MANA, and DNT tokens has also been added for Coinbase Android and iOS apps.
Coinbase confirmed that customers can now purchase, sell, convert, send, receive, or store CVC, MANA, and DNT tokens. As noted in a blog post by the exchange, CVC and MANA are available in “all Coinbase-supported regions.” DNT trading will be supported in all Coinbase-supported regions (except for New York State due to regulatory restrictions).
CVC is an Ethereum based token that’s used for transactions on the Civic platform, which is an established identity verification protocol. Users are able to verify their information via Civic. They can “securely” share their personal details and the verification methods with different service providers, which reduces the need to re-verify their identity (on multiple occasions). Service providers may offer CVC tokens to users and verifiers for taking the time to go through the verification process.
As explained by Coinbase, MANA is an Ethereum token that’s used for transactions on the Decentraland virtual reality platform. MANA tokens may be used to pay for virtual or digital plots of land in Decentraland. The tokens may also be used to buy “in-world” goods and services.
DNT is an Ethereum token that’s used for transactions on a network of “decentralized” marketplaces and communities (referred to as “districts”). The DNT token is needed by the application which is used to manage the District Registry. The tokens can be used to “signal support or disapproval for proposals made by network participants,” Coinbase explained.
All three of these ERC-20 compliant tokens have been supported on Coinbase Pro, the platform for professional traders, since late 2018.
Coinbase noted that its customers are always asking the exchange to list new cryptocurrencies. Before listing them, Coinbase carefully assesses each project in order to make sure they meet certain guidelines and requirements.
Coinbase also mentioned they’re always investing in new tools to help their clients gain a better understanding of different cryptocurrency platforms. The exchange has published several informational asset pages (for CVC, MANA, and DNT). It has also posted a new section of the Coinbase website where customers may find answers to common questions about crypto-assets.
As reported recently, Coinbase introduced its Coinbase Card in the US. The exchange noted that the card allows crypto to be used for payments and purchases online and in-store, as well as ATM withdrawals.
As covered in October 2020, Coinbase revealed that it received over 1,900 requests for customer information from law enforcement during H1 2020.