Coinbase, the largest U.S.-based crypto exchange, has announced it will delist XRP, Bitcoin Cash (BCH), and Ethereum Classic (ETC) due to "low usage." These assets will be removed from its crypto wallet by January 2023.
Holders of these coins must decide how to manage their assets before the deadline. Below, we outline the reasons for delisting, implications for your funds, and actionable steps to safeguard your investments.
Why Are XRP, Bitcoin Cash, and Ethereum Classic Being Delisted?
Delistings are common when coins face low demand, regulatory scrutiny, or technical challenges. Here’s why these three assets were targeted:
- XRP: Ongoing SEC lawsuit alleging Ripple conducted an "unregistered securities offering."
- Bitcoin Cash & Ethereum Classic: Both recently underwent "hard forks"—blockchain splits caused by community disagreements, diluting value and adoption.
Josh Fraser, co-founder of Origin Protocol, notes exchanges delist assets based on demand, security, and regulatory compliance.
What Happens to Your Funds After Delisting?
Your assets remain safe but will no longer be tradable on Coinbase. To access them post-January 2023:
- Use your Coinbase Wallet recovery phrase to import funds into a non-custodial wallet (e.g., Ledger).
- Transfer to another exchange supporting these coins (e.g., Binance, Kraken).
👉 Best hardware wallets for secure crypto storage
4 Options for Managing Delisted Coins
1. Self-Custody (Recommended)
- Hardware wallets (e.g., Ledger) support all three coins.
- "Not your keys, not your coins"—retain full control.
2. Move to Another Exchange
- Research platforms still listing XRP, BCH, or ETC.
- Global options include Binance, KuCoin, and Bitfinex.
3. Sell Your Coins
- Triggers a taxable event (capital gains/losses).
- Weigh market conditions and long-term potential.
4. Hold Long-Term
- These assets retain value outside Coinbase.
- Monitor regulatory/technical developments.
FAQs
Q: Will my coins disappear after delisting?
A: No—they remain accessible via recovery phrase.
Q: Can I still trade these assets elsewhere?
A: Yes, many exchanges (e.g., Binance) continue supporting them.
Q: Is self-custody safer than keeping funds on an exchange?
A: Absolutely. Exchanges risk insolvency (e.g., FTX collapse).
Q: Are these coins still viable investments?
A: Community support and utility determine value, not exchange listings.
👉 Top exchanges for Bitcoin Cash and Ethereum Classic
Key Takeaways
- Coinbase’s delisting doesn’t erase asset value.
- Self-custody or transfer to another platform avoids disruption.
- Stay informed on regulatory and market trends.
This article was adapted from Fortune’s original coverage.
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