Cryptocurrency Q&A
Why did Coinbase delist BSV in 2021?
Why did Coinbase delist BSV in 2021?
SakuraBloom
Sat Nov 23 2024
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6 answers
1042
Coinbase delisted BSV in 2021 due to several reasons. Primarily, the exchange announced that it would no longer support Bitcoin SV, citing concerns over the coin's fundamentals and future prospects. Additionally, Coinbase had previously warned users about the potential delisting, giving them time to withdraw their BSV funds. The decision also followed a broader trend of exchanges delisting or restricting trading of certain cryptocurrencies based on various criteria such as regulatory compliance, market demand, and the coins' overall health.
6 answers
Giulia
Mon Nov 25 2024
As a result of the 51% attack, the BSV network became unstable, leading to concerns about its security and reliability. Coinbase, as a responsible cryptocurrency exchange, decided to delist BSV to protect its clients' interests.
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Chiara
Mon Nov 25 2024
Since the delisting, Coinbase clients have been unable to buy or sell BSV on the platform. This means that traders and investors looking to engage in BSV trading have to look for other exchanges that still support the coin.
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Maria
Mon Nov 25 2024
Despite the delisting, Coinbase customers who already held BSV in their wallets on the platform were not affected. They can still keep their BSV in their wallets and access it whenever needed.
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Andrea
Mon Nov 25 2024
Coinbase made a significant decision in 2021 by delisting Bitcoin spin-off BSV, also referred to as Satoshi’s Vision. This move came after a serious incident occurred on the blockchain supporting BSV.
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Maria
Mon Nov 25 2024
The blockchain behind BSV experienced a "51% attack," which is a serious security breach where a single entity or group gains control over more than half of the network's mining hash rate. This allows them to double-spend coins, reverse transactions, and otherwise manipulate the blockchain.
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