Coinbase is a US company that runs a cryptocurrency exchange platform. Coinbase functions remote-first and doesn’t have authorized physical offices. The coinbase was started in 2012 by Brian Armstrong and Fred Ehrsam. Coinbase is the largest cryptocurrency exchange in the United States. With the highest trading volume as of March 2021.
Coinbase was launched in June 2012 by Brian Armstrong, an ex Airbnb engineer. Armstrong registered in the Y Combinator startup incubator program and acquired a $150,000 cash intake. Fred Ehrsam, an ex Goldman Sachs trader, afterward joined as a co-founder.
Coinbase is named after coinbase trades, which are notable trades. Introduce cryptocurrency into circulation in proof of work cryptocurrencies. In October 2012 the coinbase started trading services for users to buy and sell bitcoins through bank transfers.
Key Benefits of Coinbase Cryptocurrency Exchange
Beginners friendly
The Coinbase web and mobile app are easy to use. This allows users to buy, sell, and exchange cryptocurrencies fast.
Support various types of cryptocurrencies
Coinbase supports over 100 currencies for trading, and the number extends.
Possibilities to earn cryptocurrency
Earn interest on eligible balances, or get a small amount of a new currency through Coinbase Earn.
Low price with Coinbase Pro
Any user can switch to Coinbase Pro, an active trading platform with extra features and low fees.
Products
Coinbase offers products for both retail and institutional cryptocurrency investors.
The company’s products for retail traders include:
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Coinbase is an app used to buy, store and trade different cryptocurrencies. Supports cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin.
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Coinbase Pro is a proficient asset trading platform for trading digital assets.
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Coinbase Wallet is an app that allows consumers to access decentralized crypto apps (dapps) using a dapp browser.
Products for institutional traders include:
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Coinbase Prime, a trading platform for institutional customers.
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Coinbase Custody is a specialist-level service for organizations that hold bitcoin and other cryptocurrencies.
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USD Coin is a digital stablecoin that aids traders put up U.S. dollars in trade for a cryptocurrency that has the same value.
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Coinbase Card – is a debit Visa card that authorizes traders to spend cryptocurrency.
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Coinbase Commerce – a payment service for merchants.
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Coinbase Earn – is a cryptocurrency learning platform that awards users with small portions of altcoins. Users get awards for watching videos and taking examinations in coinbase earn.
The coinbase has (API) for developers and vendors to build applications and accept payments in digital currencies. Coinbase has a mobile app that supports both iOS and Android.
Operations
Coinbase operates and has no physical offices. The coinbase reported 43 million verified users, 7,000 institutions, and 115,000 ecosystem partners in over 100 countries. The Coinbase crypto exchange has an income of $1.14 billion in 2020.
Coinbase is available for buying/selling trade operations in 32 countries. while the cryptocurrency wallet was available in 190 countries worldwide.
Coinbase effect
The “Coinbase Effect” refers to the rise in the cost of cryptocurrencies. The listed for sale on a predominant crypto exchange like Coinbase will ease news to the public. The particular cryptocurrency listed on the big crypto exchange would be more beneficial. This helps to introduce among large users and is open to huge traders.
Starting a cryptocurrency exchange like coinbase would be a futuristic business plan. Since 2021 cryptocurrency and digital assets are becoming popular among the global people. One can start a cryptocurrency exchange like coinbase with the help of an available coinbase clone.
