In light of modern-day challenges, the one aspect that we still struggle with is transparency, and it is one such aspect that deserves the utmost attention. Amidst growing levels of scrutiny, and mistrust, a Blockchain-based digital ledger promising a transparent transaction interface had come to light in the form of Bitcoin in 2009.
Since its very inception, crypto has been a source of constant adventure, as it called out to traders looking to get onto the new thing. Yet, crypto is not something that has always been accessible to the masses.
This is where Coinbase comes in, with the notion that anyone, anywhere can be empowered to securely send, and receive crypto. Since its roots back in 2012, Coinbase has grown to encompass more than 56 million users, across 8000+ institutions, and 100+ countries.
Today Coinbase witnesses over 335 billion dollars in quarterly trades, as users are able to count on its support to safely trade, invest, and more importantly transact in crypto.
As people begin to see the feat that this company has pulled off they are more able to understand the CEO of Coinbase, Brian Armstrong, and his famous words, “Coinbase powers the crypto economy.”
Coinbase is not just an online cryptocurrency trading network, but it is one that had the largest cryptocurrency exchanges as compared to anyone else in the US as of March 2021. As an all-inclusive online platform, Coinbase lets its users actively build their own cryptocurrency wallets as they leverage their bank accounts to buy and sell this currency.
This stellar organization had also hammered down the big leagues as it boasts its status as a safe haven for crypto exchanges. One can reinstate this about Coinbase, considering that it not only follows the legislation of the law to the letter but also due to the fact that it has never been hacked – a claim many of its competitors cannot make.
Coinbase seeks to build an open financial system, which can be enjoyed by both retail and institutional customers alike. Coinbase runs on a model which banks on users who are looking to shop for crypto, or trade it.
Although Coinbase is most well-known for its suite of retail trade products featuring Coinbase Pro, and Coinbase Wallet, it also features solutions for institutional traders, and businesses.
Institutional traders are granted a unified product experience in which they can access custody, high-performance APIs which are seamlessly enabled for high-frequency traders. At the same time, institutional traders can also reap the benefits of Coinbase custody such that they have full access to financial reporting confirmations, third-party audits, and an expert SEC-qualified custodian.
Whereas, when we look at the business side of their products we come across a retail payment program, Coinbase Commerce. This is a platform custom designed for merchants who can accept crypto payments from anywhere in the world through a decentralized process featuring a user-controlled wallet. Whereas, on the other hand, consumer clients are able to spend their cryptocurrency with a debit Visa card, termed the Coinbase card.
The USD Coin is also an invaluable asset to Coinbase’s business clients as it facilitates a faster trading experience that gives customers the leeway to swap their dollars into cryptocurrency holdings.
In the words of Brian Armstrong, “A more fair, accessible, efficient, and transparent financial system enabled by crypto.” With this, we can see how the company is committed to proliferating its easy-to-use platform to help users get a grasp of the crypto economy.
The Coinbase story is however far from over, in fact, we can boldly state that it has merely just begun. The company plans not only to further proliferate its platform but also to continuously add on more assets and inculcate them into its trading network.
This inevitably scales its bottom line, but it simultaneously encourages its vastly growing customer base to sample up-and-coming blockchain applications. Through this world-class application, Coinbase may one day soon achieve its goals as digital asset circulation continues to catch on and reach even the further corners of the globe.