Coinbase Pro said in a blog post that users could transfer Dogecoin (DOGE) to their professional trader accounts. And operations are expected to be launched on Thursday “if liquidity conditions are met.”
Initially, DOGE will be supported through five trading pairs. Including DOGE / USD, DOGE / BTC, DOGE / EUR, DOGE / GBP and DOGE / USDT.
The news comes weeks after Coinbase CEO Brian Armstrong first announced that the exchange was going to list Dogecoin, Elon Musk’s favorite online currency. During last month’s benefit filing.
Even the CEO of Tesla, Elon Musk, invited the executives of the platform to take the step and open mechanisms. So that those interested in Dogecoin could market it through its service.
As a fun fact, the blog post did not announce whether Coinbase would add the cryptocurrency to its retail trading platform. And to your mobile application.
Dogecoin celebrates its listing on Coinbase with increases
Coinbase is definitely one of the largest exchanges on the planet, and its Pro service, as the name suggests, is designed for professional traders. Additionally, Dogecoin is also available for purchase on the Robinhood app and through Gemini.
Starting today, inbound transfers for DOGE are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday June 3, if liquidity conditions are met. https://t.co/sFYODy4Xma
– Coinbase Pro (@CoinbasePro) June 1, 2021
“From now on, we will begin accepting inbound transfers from DOGE to Coinbase Pro. Trading will begin at 9 AM PT on Thursday, June 3, if liquidity conditions are met.”
The company also says it plans to launch in three phases: post only, limit only, and full negotiation. Traders will be able to access the currency through BTC, ETH, USD, EUR, and USDT.
“Quoting the Trading Rules: If at any time one of the new order books does not meet our assessment of a healthy and orderly market, we can keep the book in a state for a longer period of time or suspend trading.”
Likewise, Coinbase stressed that it will only go through each phase of the launch when its assessment “for a healthy and orderly market” is fulfilled.
It is now available?
In fact, Dogecoin is not yet available on Coinbase’s main website or its consumer mobile apps.
“DOGE is not yet available on Coinbase.com or through our mobile apps. There will be a “separate announcement if this support is added”.
Very important, you can sign up for a Coinbase Pro account here to start trading. For more information on trading DOGE on Coinbase Pro, visit the support page.
In closing, for many people, the fact that an Exchange like Coinbase decides to list a certain cryptocurrency in either of its two services, is a guarantee that it can have a better commercial evolution.
Finally, what do you think Dogecoin is added to Coinbase Pro? Let us know in the comment box.
I leave with this phrase from George Soros: “It does not matter at all if you are right or not. What does matter is how much you win when you are right and how much you lose when you are wrong.