Coinbase Drops XRP, Stellar, Bitcoin Cash, and Ethereum Classic Support

The leading US cryptocurrency exchange Coinbase has announced that it would stop supporting digital wallets for self-custody with little use.

By the end of the year, XRP, Stellar (XLM), Bitcoin Cash (BCH), and Ethereum Classic (ETC) will no longer be supported, according to Coinbase Wallet.

“After careful evaluation, we will be removing support for several networks with low activity on Coinbase Wallet starting in January 2023, including – BCH, ETC, XLM & XRP.”

According to Coinbase Wallet, it assesses crypto assets to provide better services. It released an upgrade earlier this year that allows users to see offerings straight from the popular non-fungible token (NFT) marketplaces OpenSea and Raible.

“These routine evaluations allow us to continue investing in new features that make Web3 more accessible.”

Users are guaranteed by the company that they won’t lose their unsupported assets.

“Rest assured that any balances of these assets held in a Coinbase account (Coinbase.com or the Coinbase mobile app) will not be impacted.”

Customers who own any of the unsupported assets, according to Coinbase, may still access them throughout the recovery phase of their Coinbase Wallet.

“In order to view or transfer these assets after January 2023, you will need to import your recovery phrase on another non-custodial wallet provider that supports these networks.”

XRP is now selling for $0.40, XLM is for $0.089, BCH is for $112, ETC is for $20.22 at the time of writing.