The popular cryptocurrency exchange Coinbase is now offering customers the abilities to trade Basic Attention Token (BAT). The new digital asset is available through Coinbase.com website as well as the related apps for Android and iOS.
In a report from CoinTelegraph, they indicate that trading officially launched on Thursday (Nov. 8), allowing for customers to buy, sell, send/receive, and store the BAT coins on the site. Coinbase said the BAT coins won’t be available initially for New York residents but should be available in most other jurisdictions.
The news of the full trading comes after Coinbase began to accept BAT transfers to Coinbase Pro last week. The exchange was attempting to establish enough liquidity before allowing customers to buy, sell, send or receive on the Coinbase platform.
The initial announcement that Basic Attention Token was headed to Coinbase caused a price spike too. It jumped over 20 percent on that news. However, now that Coinbase has started to allow full trading of BAT it slumped on Thursday, falling by nearly four percent at one point in the day’s trading.
Back on Nov. 2, BAT was at $0.253 per coin. It rose to a price of $0.379 on Thursday (Nov. 8), and dropped a bit to $0.321 during the day.
BAT is based on Ethereum, making it an ERC-20 utility token. Like many cryptocurrencies, Basic Attention Token has been around for just a short time. It arrived on the scene after an initial coin offering (ICO) back in May of last year. That ICO had impressive results as it reportedly raised $35 million in under 30 seconds.
Coinbase now offers eight different digital currencies to customers on its platform for trading, storing, sending, or receiving. They are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), 0x (ZRX), Basic Attention Token (BAT) and USD Coin (USDC). The latter of these, USDC, is valued at $1 just like the US Dollar allowing for easier trading in and out of positions.
The Coinbase platform seems to be continuously expanding towards more crypto tokens, so it will be interesting to see which new currencies arrive on the site in 2019.