Coinbase Wallet will no longer support Ripple and Bitcoin Cash tokens

Representatives of one of the largest cryptocurrency wallets Coinbase Wallet have announced the termination of support for Ripple and Bitcoin Cash tokens. This decision was explained by a decrease in demand for these cryptocurrencies among consumers.

It is expected that support for these assets will end on December 5, 2022. After that, sending and receiving these cryptocurrencies will become unavailable. However, the termination of support due to low token usage does not mean that customers will lose access to their assets. The platform will publish detailed instructions on how to withdraw unsupported cryptocurrencies in the near future.

In addition to Ethereum and all EVM (Ethereum Virtual Machine) compatible networks, Coinbase Wallet supports 9 other blockchains, including: BNB, Polygon, Solana, and Arbitrum. Coinbase Binance/">started supporting the Binance network at the end of May, and since then, users have been able to exchange and store cryptocurrencies of the BNB (Binance Smart Chain) and Avalanche projects.

As for Coinbase, last week, former US intelligence officer Edward Snowden accused its management of violating confidential customer information. According to Snowden, in an effort to meet the requirements of regulators, the platform ignores the needs of its own customers. It is worth noting that the cryptocurrency exchange Coinbase lost 69,000 bitcoins worth $ 1.15 billion after the FTX coll apse (withdrawn by users).