Coinbase is a global cryptocurrency exchange. It is gradually holding a grip and also serves as a wallet. So not only does it help with all the transactions but also help store the digital currencies for perusal. Coinbase is widely accessible across 42 countries with more than 20 million customers around the world.
Out of the wide range of services it has, the primary one is buying and selling of Bitcoins through a bank account, credit card or debit card. The company has raised over $400 million from leading investors.
August 2019 saw Grayscale’s crypto assets worth $2.7 billion to be held by Coinbase Custody. This makes Coinbase have the account of a good number of assets including leading ones. Some of the coins in its kitty are Bitcoin, Ethereum, Bitcoin Cash and Litecoin including many more digital assets.
Now with a grandeur of assets to hold, this means Coinbase is emerging as a sought-after exchange and here’s why you should be considering to invest on Coinbase-
It won’t have you be bogged down by the intricacies of technology. Rather it solely concentrates on the transactions of currencies. Coinbase provides a new foray into currency speculation and investing for those looking forward to investing in cryptocurrency.
In Coinbase there is no space for pseudo-anonymity. Your name is attached to your Coinbase account and so is your bank account. This makes tracking down transactional history quite easy.
- Intermediary based
If not worked over the blockchain then not much can be done to ensure the verification of the transaction history or that your account is taking place on the blockchain. This instead means that trust is placed on the intermediary which in this case is Coinbase.
- Real-time prices
Coinbase shows absolutely real-time prices of cryptocurrencies. There is no scope of fraudulency or misguiding whatsoever. This builds the exchange’s goodwill and reputation.
What’s more, is that the exchange stores 90% of the customer’s funds offline to ensure the security of all cryptocurrency purchased and sold within Coinbase. The plus side is that Coinbase also stores assets like that of fiat currency in bank accounts on behalf of the customers. This helps in an unforeseen event where the company might become insolvent. Customers and their money will be safe with no loss incurred. Coinbase in the past year has undergone many asset acquirements that prove its level of security especially in a market such as a cryptocurrency.