which network does coinbase use

Coinbase's support for a variety of cryptocurrencies and blockchain networks, including Bitcoin, Ethereum, and Litecoin, allows for diverse investment and transaction capabilities within the platform.

Oct 26, 2024 at 09:23 pm

Which Network Does Coinbase Use?

Coinbase, one of the largest cryptocurrency exchanges in the world, supports a variety of cryptocurrencies and blockchain networks. The specific networks used by Coinbase vary depending on the cryptocurrency being traded or used. Here are the most commonly used networks by Coinbase:

1. Bitcoin (BTC): Bitcoin is the original and most widely used cryptocurrency. Coinbase supports both the Bitcoin Core network and the Bitcoin Cash network.

2. Ethereum (ETH): Ethereum is a decentralized blockchain platform that enables smart contracts and decentralized applications (dApps). Coinbase supports the Ethereum network, as well as several popular Ethereum-based tokens, such as ERC-20 tokens.

3. Litecoin (LTC): Litecoin is a peer-to-peer cryptocurrency that is based on the Bitcoin protocol. Coinbase supports the Litecoin network.

4. Bitcoin Cash (BCH): Bitcoin Cash is a fork of the Bitcoin network created in 2017. Coinbase supports the Bitcoin Cash network.

5. Dogecoin (DOGE): Dogecoin is a peer-to-peer cryptocurrency that began as a joke. Coinbase supports the Dogecoin network.

6. Stellar Lumens (XLM): Stellar Lumens is a decentralized blockchain platform that focuses on cross-border payments. Coinbase supports the Stellar Lumens network.

7. USD Coin (USDC): A stablecoin that is pegged to the US dollar to make it ideal for everyday transactions and investing.

8. Ripple (XRP): A powerful payment network enabling fast and low-cost transactions across currencies and networks by using the XRP Ledger.

9. Polygon (MATIC): A Layer 2 scaling solution for Ethereum, providing faster and cheaper transactions.

10. Solana (SOL): A high-performance blockchain focusing on scalability, enabling fast and low-cost decentralized applications.

It's important to note that Coinbase may add or remove support for specific networks in the future. Additionally, some Coinbase products or services may use different networks or have additional network requirements. It is always recommended to check with Coinbase directly for the latest information on supported networks.