Did you know that Coinbase has removed support for native Bitcoin?

In the current scenario of rebounding Bitcoin price action favorable news is emerging, however, some news is not so encouraging, for example it is being asserted that we are at the top of a bearish channel that will lead Bitcoin to decline in the coming weeks.

Another of the not-so-favorable elements about Bitcoin is that Coinbase has removed support for native Bitcoin, and other UTXO currencies from Coinbase's merchant payment platform has been removed, according to the company's head of product, Lauren Dowling.

In an article uploaded by Ana Pereira, she referenced that according to CEO Brian Armstrong in X that the company is in the process of integrating the Lightning Network into Coinbase, additionally stating that, "Broadly speaking, we believe that paying for things online with cryptos really won't go mainstream until we get out of layer 1, and reduce transaction fees and confirmation times, so we're trying to accelerate the move into that world."

He also referenced Pereira that, "The decision to remove native Bitcoin prompted criticism from the community on social media platforms, with some users pointing out how the removal affects Bitcoin adoption."

One of the things that caused me some concern is that, "Coinbase often acts like it's fighting for good, but don't be fooled, it's not. For example, 'Coinbase Commerce' no longer supports payments from self-custodial wallets or third-party exchanges."


Cointelegraph. Coinbase drops native Bitcoin payments from merchants’ platform. Link


The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph