Coinbase’s crypto wallet will no longer toughen four older cryptocurrencies.

In an announcement on Tuesday, Coinbase said that this can pause toughen for Bitcoin Cash (BCH), Ethereum Traditional (ETC), Stellar (XLM) and XRP on the Coinbase Pockets in January 2023. The tokens will live listed and tradeable on the Coinbase replace.

The firm cited “low usage” as the reason for discontinuing the assets on its wallet. Coinbase said the resolution to put off these tokens was as soon as made after “cautious evaluate” – something that allows the replace to proceed investing in recent gains.

The four tokens in questions are among the many tip 30 cryptocurrencies by market cap. BCH, XLM and ETC all score a market cap of between $2 billion and $2.7 billion, while XRP is the seventh-largest crypto asset with a market cap of $20 billion.

“This would no longer mean your assets would per chance be lost,” said Coinbase, explaining that users with balances of those assets will soundless be ready to get right of entry to them the expend of their Coinbase recovery phrase.

In squawk to transfer assets after January 2023, on the opposite hand, users will desire to import their recovery phrase on one other non-custodial wallet that supports these networks.

The transfer to put off these tokens from the Coinbase Pockets attracted a distinguished quantity of criticism from the users, namely those connected to the respective token communities.