Coinbase, one of the world’s most widely used bitcoin wallet platform and cryptocurrency exchange, has added support for Ethereum.
Users of Coinbase will be able to trade and store Ether in their Coinbase account, without integrating or installing an add-on software onto the existing wallet platform.
As a part of the platform’s Ethereum integration, Coinbase has announced the launch of the Coinbase Ethereum Buy Widget, a tool for developers to embed Etherum purchases within their applications.
“We are pleased to announce that Coinbase is adding support for Ethereum. Consumers can now easily buy, sell, send, and store Ether in their Coinbase account,” announced the Coinbase team.
Coinbase CEO Brian Armstrong also announced on social media that the Coinbase development team has been working on integration Ethereum support on the Coinbase wallet and exchange platform for four months.
The @coinbase team in the war room just launched ethereum support! Four months in the making. ?? pic.twitter.com/x71WlV5j32
— Brian Armstrong (@brian_armstrong) July 21, 2016
Immediately after the launch of Ethereum trading on the Coinbase exchange platform, the Coinbase development team has reported a surge in volume on the ETH/USD pair. The Coinbase team noted that Ether trading has surged 4% with one hour of the launch of Ethereum trading platform.
ETH is trading up 4% since we launched about an hour ago.
— Brian Armstrong (@brian_armstrong) July 21, 2016
Since the beginning of 2016, Coinbase has demonstrated continuous support for the Ethereum network and foundation, adding Ethereum trading on GDAX, Coinbase’s global digital asset exchange, in May of this year.
The Coinbase team and its CEO Brian Armstrong consistently praised the Ethereum foundation’s ability and will to fight through adversity, especially during the recent disarray involving the DAO.
On the day of the announcement of Ethereum support, Armstrong commended the Ethereum network’s successful hard fork, which was initiated to resolve the technical issues with the DAO platform.
“My hope is that we start to see hard forks as an elegant upgrade/voting mechanism, not something to be feared that results in multiple coins,” said Armstrong.