Coinbase Cryptocurrency Exchange

in #coinbase • 7 years ago


One of the oldest ventures in cryptocurrency exchanges is Coinbase. This is one of the exchange platforms that was launched at the time when cryptocurrency Bitcoin was a novelty. Launched as a San Francisco company way back in 2012, this company operates across 32 countries. It has served about 12 million customers in this period. There has been about $40 billion worth of exchanges done in cryptocurrencies since its inception. Hence it can be stated to be one of the highest funded startups based on Bitcoin which has grown to become one of the largest exchanges in cryptocurrency across the world.


coinbase

Features of Coinbase

Being one of the oldest cryptocurrency exchanges in the market this Bitcoin startup has the following features:

• Its trading practices are distinct. For instance, users can trade at set prices that are based on market value.
• Users can purchase cryptocurrencies on this platform at a faster pace than they can for other exchanges.
• It makes cryptocurrency purchases easier as it accepts credit card payments as well as allowing bank transfers.
• The fees are less than four percent on Coinbase that makes it cheaper as compared to higher transaction fees charged on other exchange platforms.
• Fees are variable as per the payment method you choose; for instance the credit card payment mode attracts higher fees.
• This exchange platform trades mostly in Ethereum, Bitcoin, and Litecoin.
• It has plans to add more cryptocurrencies on its platform in the near future.
• Users can sign up for personal or business accounts. Once the accounts are verified through phone number verification one needs to set up payment options. The payment method chosen needs to be verified which takes a few days to be completed.
• When one has funds in their account they can opt to buy cryptocurrency. One needs to confirm the service fees and the amount they wish to purchase to complete a transaction.

Should you invest in Coinbase?

When you look at a cryptocurrency purchase or exchange platform, it is normal to have certain apprehensions. There have been certain issues such as large losses of cryptocurrency in the past, such as the Mt Gox incident that affected all cryptocurrency exchanges. However, this platform is a registered entity and complies with Federal laws under US sovereignty. It also strives to maintain a financial system that is open as well as innovative which has helped in instilling confidence in existing investors as well as helping them to profit from the exchange system.


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7 years ago in #coinbase by
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