Coinbase to Support ARB Token on its Platform: What You Need to Know

03/23/2023 01:05 • Tech Ticker • 174 views

According to reports, Coinbase, the cryptocurrency exchange, announced that it would support the upcoming native token ARB launched by Arbitrum and trade online on the platform. The announcement states that the USD-ARB trading pair on Coinbase will be launched in stages. The exchange also stated that ARB trading will not be available in some supported jurisdictions, but did not provide any further details. Some users may face delays in depositing on the Arbitrum network, and are currently working to resolve this issue. According to the notice of Coinbase, the contract address of the ARB token Arbitrum network (ERC-20 token) is 0x912CE59144191C1204E64559FE8253a0e49E6548.

Coinbase to launch Arbitrum native token ARB

If you are a crypto enthusiast, then you must be aware of the recently launched native token ARB by Arbitrum. In line with this, Coinbase has announced its support for the digital asset and will soon launch the USD-ARB trading pair on its platform. Nevertheless, there are a few things you need to know about this development.

Overview of ARB Token

Before diving into the support of ARB token by Coinbase, it is important to understand what ARB is all about. ARB is the native token of the Arbitrum network, and it is an ERC-20 token that was launched in August 2021. Arbitrum is one of the most popular Layer 2 scaling solutions for Ethereum, and it allows users to conduct faster and cheaper transactions than the mainnet.

Coinbase to Support ARB Token

Coinbase, which is one of the largest cryptocurrency exchanges in the world, recently announced its support for the ARB token. The exchange stated that it would launch the USD-ARB trading pair in stages, but did not provide any specific timeline for this. However, this move is expected to provide more liquidity and exposure to ARB token, which in turn may increase its value.

Restrictions on ARB Trading

While Coinbase has shown support for ARB token, there will be some restrictions on its trading. According to the exchange’s announcement, ARB trading will not be available in some supported jurisdictions, but there were no further details provided on this matter. Therefore, it is important to check if your jurisdiction is supported before attempting to trade ARB on Coinbase.

Delay in Depositing on Arbitrum Network

Another issue that users may face when trading ARB token on Coinbase is a delay in depositing on the Arbitrum network. Coinbase has acknowledged this issue and is currently working on resolving it. Therefore, users should be patient and check for updates on this matter.

Conclusion

The announcement of Coinbase’s support for the ARB token is a positive development for the crypto ecosystem. As one of the largest exchanges in the world, Coinbase’s support will provide more exposure and liquidity to the token, which may increase its value. However, users need to be aware of the restrictions on ARB trading as well as the delay in depositing on the Arbitrum network to avoid any inconvenience.

FAQs

1. What is the ARB token?
The ARB token is the native token of the Arbitrum network, an Ethereum Layer 2 scaling solution that allows for faster and cheaper transactions.
2. When will the USD-ARB trading pair be launched on Coinbase?
There is no specific timeline provided by Coinbase on the launch of the USD-ARB trading pair.
3. Will ARB trading be available in all supported jurisdictions on Coinbase?
According to Coinbase’s announcement, ARB trading will not be available in some supported jurisdictions, but there were no further details provided on this matter.

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