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Coinbase announces ETC credits support for its customers

San Francisco-based digital currency exchange Coinbase has announced today that ETC credits will soon be available on its website and that, Coinbase customers will be credited the full amount of ETC associated with their account.

The company, however, announced last week that it has no plans to support ETC. Coinbase said in a previous online post, “Coinbase launched support for ETH after last week’s hard fork in the Ethereum network. Since launch, Coinbase has exclusively supported transactions and trading in ETH -- not ETC... At this time, Coinbase has no plans to support ETC, although we will continue to monitor the situation and evaluate customer demand.”

Later, few customers expressed an interest in recovering ETC that may be associated with their Coinbase transactions.  As a move following this and considering the fact that it is important for customers to trust Coinbase in order to safeguard digital currency assets, the company has announced the move to support ETC credits.

“We are working as swiftly as possible to create a simple process which will allow users to send an ETC credit to an off-platform ETC address of your choosing,” the recent announcement stated.

The announcement made it clear that, although Coinbase will be making ETC credits available to send off-platform, it is not planning to support ETC trading or transactions on its platform. The platform said that it will update soon as the credit process becomes available.

“Customers should avoid sending additional ETC to any Coinbase wallet,” it added.

Founded in June of 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin and Ethereum.

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