Coinbase Adds Support for Internet Computer (ICP), a Utility Token Supporting DeFi, NFTs

Beginning on Monday (May 10, 2021), digital asset firm Coinbase will be supporting Internet Computer (ICP) at (for retail traders) and via the Coinbase Android and iOS apps as well.

Coinbase clients now have the option to purchase, sell, convert, send, receive, or store ICP tokens. ICP is currently available through all Coinbase-supported regions, but not in New York State (presumably due to regulatory restrictions).

ICP trading is also supported via Coinbase Pro, the crypto exchange platform for professional traders.

As explained in the announcement, Internet Computer utility tokens (ICP) may be staked in its governance system in order to earn “voting rewards”, or “converted into cycles” that may be used to run smart contract computation.

As noted in the update:

“On the Internet Computer blockchain, ‘developers can create websites, enterprise IT systems, pan-industry protocols, hyperscale open internet services, DeFi, and NFTs by deploying their code directly on the public Internet.'”

You may find more information about Internet Computer (ICP) by reviewing this research report.

As mentioned in the announcement:

“One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. We announced a process for listing assets, designed in part to accelerate the addition of more cryptocurrencies. We are also investing in new tools to help people understand and explore cryptocurrencies. We launched informational asset pages (see ICP ), as well as a new section of the Coinbase website to answer common questions about crypto.”

Clients may sign up for a Coinbase account here to purchase, sell, convert, send, receive, or store ICP tokens.

As covered recently, Coinbase Pro announced it was adding crypto tokens Cartesi (CTSI), iExec (RLC), Mirror Protocol (MIR) and Tellor (TRB).

As reported earlier this month, Coinbase teamed up with Pledge 1% to create corporate Giving Program that leverages the power of crypto to help people

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