Coinbase has announced the removal of Bitcoin Cash (BCH), XRP, and Ethereum Classic (ETC) from its self-custody wallet platform. This decision, driven by low usage of these assets on the wallet service, takes effect in early 2023—giving holders just over a month to decide their next steps. While these coins are being delisted from the Coinbase Wallet, they remain supported on the Coinbase exchange, offering users several strategic options.
This guide breaks down why the delisting is happening, what it means for your holdings, and the best actions to take—whether you're planning to sell, transfer, or securely store your crypto long-term.
Why Are XRP, Bitcoin Cash, and Ethereum Classic Being Delisted?
Delisting digital assets is not uncommon in the crypto space. Platforms like Coinbase regularly evaluate which tokens to support based on factors such as user demand, security, regulatory risks, and network activity.
XRP: Regulatory Uncertainty Lingers
XRP has faced ongoing regulatory scrutiny since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple Labs in December 2020. The SEC alleges that Ripple conducted an unregistered securities offering, raising over $1.3 billion through XRP sales. While the case continues, many exchanges—including Coinbase—have taken a cautious approach.
Although XRP trading remains active on the main Coinbase exchange, its limited utility within the wallet ecosystem contributed to the delisting decision.
Bitcoin Cash and Ethereum Classic: Legacy Chains with Declining Usage
Both Bitcoin Cash (BCH) and Ethereum Classic (ETC) originated from hard forks—permanent splits in their original blockchains.
- Bitcoin Cash split from Bitcoin in 2017 over disagreements about block size and scalability.
- Ethereum Classic emerged after Ethereum’s 2016 hard fork, which reversed a major hack on The DAO. While Ethereum moved forward with changes, ETC maintained the original chain.
Despite strong initial support, both assets have seen declining adoption compared to their parent networks. As Josh Fraser, co-founder of Origin Protocol, explains:
“When there’s a hard fork, one chain often becomes dominant while the other sees less development and usage. Coinbase supports many assets, but they prioritize those with active communities and high demand.”
Low transaction volume and minimal integration into decentralized applications (dApps) likely influenced Coinbase’s decision to remove BCH and ETC from its wallet interface.
What Does Delisting Mean for Your Crypto?
Importantly, your funds are not at risk. Delisting from the Coinbase Wallet does not mean your assets are frozen or lost.
According to Coinbase’s official statement, any unsupported assets left in user wallets after the cutoff date will still be tied to your blockchain address. You retain full ownership—as long as you have access to your recovery phrase.
However, once delisted:
- You won’t be able to view or transact with BCH, ETC, or XRP directly in the Coinbase Wallet app.
- To manage these assets, you’ll need to import your recovery phrase into another non-custodial wallet that supports these networks.
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Reeve Collins, co-founder of Tether and SmartMedia Technologies, emphasizes:
“Leaving your coins in a non-functional wallet is like storing cash in a vault you can’t open. You own it, but you can’t use it.”
Your Options for Managing Delisted Coins
If you hold any of these three cryptocurrencies, here are your best next steps:
1. Self-Custody Using a Hardware Wallet
The crypto mantra “Not your keys, not your coins” underscores the importance of self-custody. By moving your assets to a personal wallet, you maintain full control.
Hardware wallets like Ledger support all three delisted coins—BCH, XRP, and ETC—making them ideal long-term storage solutions. These devices store private keys offline, protecting against online threats.
Steps to migrate:
- Purchase a compatible hardware wallet.
- Set it up and securely back up the recovery phrase.
- Transfer your coins from Coinbase Wallet using your new wallet’s public address.
This method ensures maximum security and future-proof access.
2. Transfer to Another Exchange
You’re not limited to Coinbase. Hundreds of global exchanges support BCH, XRP, and ETC—including Binance, Kraken, and OKX.
Before transferring:
- Confirm the receiving exchange supports deposits for each specific asset.
- Double-check network compatibility (e.g., don’t send BCH to a BTC address).
- Be mindful of transaction fees and withdrawal limits.
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Transferring to another exchange allows you to continue trading or converting your holdings without interruption.
3. Sell Your Holdings
Selling may be the right choice if you’re uncertain about the future value of these assets—or if you want to reallocate capital.
On Coinbase:
- Sell BCH, ETC, or XRP directly on the exchange platform before moving funds.
- Convert proceeds to USD or stablecoins like USDT or USDC.
- Withdraw cash to your bank account.
⚠️ Note: Selling triggers a taxable event. Consult a tax professional to understand capital gains implications. Transferring coins to another wallet or exchange does not trigger taxes.
Frequently Asked Questions (FAQs)
Will I lose my XRP, Bitcoin Cash, or Ethereum Classic?
No. Your assets remain yours even after delisting. As long as you have your recovery phrase, you can access them via another wallet that supports these networks.
Can I still trade these coins on Coinbase?
Yes—but only on the Coinbase exchange, not in the standalone wallet app. Trading pairs for BCH, XRP, and ETC remain active on the main platform.
How do I move my coins out of Coinbase Wallet?
- Open Coinbase Wallet.
- Select the asset you want to transfer.
- Tap “Send” and enter the recipient’s public address.
- Confirm the transaction with your passcode or biometrics.
Ensure the receiving wallet supports the specific coin and network.
Is it safe to keep crypto on exchanges?
While Coinbase uses strong security measures—including cold storage for over 90% of funds—no exchange is immune to hacks or operational risks. For large holdings, experts recommend moving assets to self-custody solutions like hardware wallets.
What happens if I don’t take action by the deadline?
After delisting:
- You won’t see your BCH, ETC, or XRP balance in the app.
- You cannot send or receive these assets through Coinbase Wallet.
- Your funds remain accessible via recovery phrase import elsewhere.
Failure to act limits usability but doesn’t result in loss—provided you safeguard your recovery phrase.
Does this mean these coins are worthless?
Absolutely not. Delisting reflects platform policy—not intrinsic value. Millions of users continue to hold and transact with XRP, BCH, and ETC worldwide. Their value depends on market demand and ecosystem adoption.
Final Thoughts: Take Control of Your Crypto
The delisting of Bitcoin Cash, XRP, and Ethereum Classic from Coinbase Wallet is a reminder that custody matters. While convenient, relying solely on third-party platforms limits your control.
Now is the time to:
- Assess your long-term strategy.
- Choose a secure storage method.
- Stay informed about network changes.
Whether you decide to sell, swap, or self-custody, acting before the deadline ensures uninterrupted access to your digital assets.
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Remember: In cryptocurrency, ownership means responsibility. Protect your keys, protect your wealth.