In a call with investors, Coinbase CEO Brian Armstrong said the crypto exchange will list Dogecoin as tradeable in six to eight weeks (via Gizmodo),
Doge on Coinbase
Dogecoin has been in the news a lot lately, receiving support from public figures like Elon Musk. Although the coin started as a joke it now has a current market cap of US$77 billion. Mr. Armstrong also spoke about the future of cryptocurrency:
I think it’s going to be something, kind of, like apps in the App Store or on the iPhone where there’s eventually millions of these assets created over time and so we’re putting a lot of work and thought into how do we accelerate our pace of asset addition, and one of those is Doge, as you mentioned, which has been getting a lot of attention recently.
Doge is controversial in the crypto space because, unlike Bitcoin which has scarcity built into it, Doge has no such limitations with an infinite supply. Its value hinges on getting attention, like Mr. Musk tweeting about it, and the price fluctuates wildly.
But like many other cryptocurrencies, Doge is likely to stick around for a while, and it sounds like Coinbase recognizes that. The exchange has a typical transaction fee of 1.49% when you link your bank account to the app.