A while back Coinbase said it was exploring adding ZRX, ADA, BAT, XLM, and ZEC. Since ZRX was added, there is good reason to pay attention to ADA, BAT, XLM, and ZEC.
ZRX has already been listed, so let’s put that aside.
Of the ones not listed yet, BAT and XLM have preformed very well. So while they are solid picks, buying them now hardly gets you in at recent lows. That said, ADA and ZEC are different stories. Both are near recent lows.
All of these are solid coins from solid projects, and all of these are arguably worth owning, and further the primary reason to own any of them is on their own merits.
That said, we all know coins tend to rally when listed on Coinbase.
Since that is true, it can make sense to build your position before a coin launches so you aren’t left scrambling or waiting for it to stabilize after.
With all that covered, here are some strategies some might use and some things to think about:
- Decide if you are going long, short, or doing a mix so you know how to react when the time comes. One option is to go long, but to sell a little bit of a coin for profit after it gets listed to lower your average price.
- Since we don’t know if or when Coinbase will list a coin, and since the market is volatile, it can be a good move to average into any coin you want to buy (i.e. it can make sense to build your position slowly over time).
- If you wouldn’t buy a coin anyway, you might want to avoid a coin. Just because a coin is likely coming onto Coinbase doesn’t mean there is going to be profit. Those who bought ADA in anticipation of the Coinbase right off the bat are currently down over 50%.
- ETC was listed on Coinbase a while back. It is a solid project in its own right. It pumped initially and then fell to a recent low a while after being listed. Being listed can lift a coin up and keep it up… or it can simply result in a temporary rally. This doesn’t mean you should expect this, it just is what has historically happened.
- Coinbase has high standards, if they are even considering listing a coin then it is a show of confidence for the coin/project in my opinion.
- Just because a coin has gone up, like with XLM, BAT, ZRX, doesn’t mean it isn’t a good buy. Sometimes the coins preforming the best are the safest bets. Making a contrarian play (buying a coin when it is not doing well) is different than buying a coin showing strength.
- Just because a coin has preformed poorly recently, like with ADA and ZEC, doesn’t mean it is a bad play. ZEC is a longstanding coin with solid liquidity, ADA is a mind-blowing project with lots of potential. These coins have done well in the past, they could very well preform well in the future too!
- Buying a coin after it is listed can still make sense. You can buy shortly after it is listed and deal with the potentially higher price (it could still end up being a good pice over time), or you can wait for it to stabilize. With ETC the best price you could get long was found well after the listing.
Bottomline: Keep an eye on the Coinbase hopefuls. If they are coins you want in general, consider starting to build your position before it gets listed.