ALGO Set For Trading Launch on Coinbase From Wednesday

ALGO Set For Trading Launch on Coinbase From Wednesday

Coinbase has revealed that this week will see the launch of their latest trading option, ALGO.

In preparation for the launch of the option to trading ALGO tokens, Coinbase has provided important information about the company behind the token, Algorand. According to Coinbase, the system was built with the plan in mind to “solve some of the technical barriers of existing blockchain infrastructure” and aims to improve decentralization, scalability and security.

Operating via permissionless proof-of-stake it is said to have the capabilities to build scalable blockchain projects despite the company still being in its infancy. Setting up shop only in June 2019, founded by cryptographer and Turing award winner Silvio Micali.

As of Wednesday 14th August, Coinbase Pro users will be first able to transfer the ALGO into their account. Trading will happen via the standard 4-stage launch implemented by the platform for all their new listings, i.e. transfer-only, post-only, limit-only and then finally, full-trading likely to be offered the following day.

All users of their service, bar those living in New York State, will be able to partake in trading which will happen sometimes during pacific time business hours, although an exact time is yet to be announced, with the trading pair ALGO/USD available to begin with.

Users still have 3 days to prepare themselves for the inclusion of this latest option on Coinbase, which comes less 2 weeks after the listing of stablecoin, Tezos and a month after the addition of two futures trading options BlockStack (STX) and Akropolis (F-AKRO).

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