Major US cryptocurrency exchange Coinbase says it will stop supporting under-used crypto assets in its self-custodial digital wallet. According to Coinbase Wallet, it will take XRP, Stellar (XLM), Bitcoin Cash (BCH), and Ethereum Classic (ETC) offline for the next year. “After careful review, starting January 2023, we will remove support for several low-activity networks in the Coinbase wallet, including BCH, ETC, XLM, and XRP. Coinbase Wallet says it is evaluating
crypto to implement better features. Earlier this year, it released an update that allows users to directly view offers from the major non-fungible token (NFT) marketplaces OpenSea and Rarible. This routine testing allows us to continue investing in new features that make Web3 more accessible.
The company assures users that they will retain the unsecured assets they own. “Rest assured that these assets’ balances will not be affected in a Coinbase account (Coinbase.com or the Coinbase mobile app). Coinbase says customers with any of the unsupported assets will still be able to access them during their Coinbase wallet recovery period.” To view or transfer these assets after importing recovery phrases into another non-custodial wallet provider that supports these networks by January 2023. As of this writing, XRP is trading at $0.40, XLM at $0.089, BCH at $112, and ETC at $20.22.