Yesterday, Coinbase announced via their blog that they will be easing their requirements for listing new coins. According to the announcement, Coinbase is doing this in cognizance of the increased number of coins and tokens in the market. According to them, certain coins and tokens will only be listed in specific jurisdictions where they are compliant with the local regulations and securities laws. Here are the specifics of what Coinbase had to say about these new listings procedures.
“Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner. In practice, this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time.”
Coinbase also announced that they will not require any fees for new listings, but they might re-introduce them later.
“Initially there will be no application fee. Depending on the volume of submissions, we reserve the right to impose an application fee in the future to defray the legal and operational costs associated with evaluating and listing new assets.”
From the above, it is clear that there is an opportunity for Dogecoin (DOGE) to get into Coinbase. That’s because, on the parameter of listing on specific jurisdictions, Dogecoin is way above that. Unlike cryptos that have ambiguities on whether they are securities or not, Dogecoin is a decentralized platform. There is no central authority to Dogecoin (DOGE). It has always been a community. In essence, Dogecoin meets the requirements of Coinbase to be listed universally, not just in specific jurisdictions. Dogecoin is pretty much similar to bitcoin (BTC), Litecoin (LTC) and other decentralized cryptos that are already listed on Coinbase.
On the issue of fees, this has always been a major hindrance for truly decentralized cryptos, stopping them from getting into major exchanges. Just recently, it emerged that Dogecoin may not be getting on Binance any time soon. That’s because there is no CEO or other central entity to pay the necessary fees. In essence, Coinbase’s current feeless listing is a window of opportunity for Dogecoin (DOGE). This is a good time for the community to make a go at it, because once Coinbase reintroduces fees, it will be very difficult for Dogecoin (DOGE) to ever get listed on it.
Besides, the application process is quite simple. Coinbase has provided a link through which, any coin that wants to get listed can use to gain access to the exchange.
Based on the above, there is a real incentive for the Dogecoin community to push through with this listing. That’s because, it would give an unprecedented surge in the price of Dogecoin. Coinbase is one of the world’s largest and most respected exchanges, and any coin listed on it, has an edge in market standing. Besides, Dogecoin has proven to be quite responsive to major exchange listings in the past. For instance, it saw a huge increase in price when it was added to Robinhood, even though it happened in the deep of the bear market. In essence, a listing on an exchange as big as Coinbase would have a far bigger impact than that of Robinhood to the price of Dogecoin.
This is definitely an opportunity for Dogecoin to try out Coinbase and add to its value going into Q4 of 2018. A push into the top 10 would be quite possible if this listing happens. Will the Dogecoin (DOGE) developer team make a run for it? Well, only time will tell, but it’s worth a try.