Dash has been added to the Coinbase cryptocurrency app shortly following the Coinbase Pro addition announcement last week.
Dash (DASH) is launching at https://t.co/bCG11KveHS and in the iOS and Android apps within the next 15 minutes. You may need to update your app to properly buy, sell, convert, send, receive, or store DASH. We will update when DASH is fully live. https://t.co/ZLhqDLmQVD
— Coinbase (@coinbase) September 19, 2019
In an announcement today, Coinbase, the popular cryptocurrency wallet and brokerage app, indicated that it had activated Dash on the platform effective immediately:
“Starting today, Coinbase supports Dash (DASH) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store DASH. DASH will be available for customers in all Coinbase-supported regions, with the exception of New York State and the United Kingdom. Additional jurisdictions may be added at a later date.”
Dash joins the 16 other assets available on the app. Dash was previously added to Coinbase Pro, the cryptocurrency exchange behind Coinbase, which features a more full-fledged traditional trading platform. Coinbase offers a platform more friendly for new users than Coinbase Pro, and acts as an entry point to the ecosystem for many users.
Coinbase’s unrivaled popularity as an on-ramp for new cryptocurrency users
The addition of Dash to Coinbase’s platform provides a significant boost to the ability of the currency to reach new users. Coinbase has proven to be a very popular initial entry point for new users seeking to enter the cryptocurrency ecosystem as investors or as users. Towards the end of 2017, during the height of the cryptocurrency bull market, Coinbase ranked in as the top most popular app in the Apple App Store as a record number of users surged into the platform seeking to buy and sell cryptocurrency. The addition of Dash to the platform ensures that it will be an available option for users the next time a surge in interest occurs and customers flock to the platform.
Coinbase’s vindication of Dash’s advanced network security
The addition of Dash into the Coinbase platform also includes an implicit endorsement of its security model. Dash deposits are recognized as final after two on-chain confirmations, or about five minutes, significantly faster than Bitcoin’s roughly 60-minute confirmation wait. This is likely due to ChainLocks, which provides a high level of security after a single confirmation, protecting the network against 51% attacks. This joins the growing list of exchanges recognizing InstantSend instant confirmations as well as other expedited deposit timelines.