15 Insights on Coinbase
Aug 12, 2017 Posted / 1867 Views
Cryptocurrency market is growing with many innovative ideas getting flourished day by day. The integration of technologies provides everyone a platform and opportunity to create an investment based on higher return value as the profit. One such cryptocurrency based platform is Coinbase. It deals with transferring of cryptocurencies over the internet platform and empowering the exchange of the digital currencies, with a setup to provide financial settlements to their clients.
This can be an all in one solution and platform to the people and companies who want to gain financial solutions, exchange their digital currencies, securing their digital assets in Coinbase's crypto wallets.
Coinbase is a safe online platform to buy, sell, transfer, and store digital currency. Coinbase's operation is to create an open financial system for the world and to be the platform for helping people that converts digital currency into and out of their local currency.
Core cryptocurrency wallet and exchange Coinbase has announced it has raised $100 million in Series D funding. On Thursday, Coinbase CEO Brian Armstrong said that this growth represents a 'major milestone' for them, with resources mainly going into the customer support size growth. They will be continuing to scale further with the gathered funds.
With the incredible funds growth, Coinbase aims to increase the size of their staff support and engineering teams, so that more people are available for the help of customers.
Fidelity Investments has declared a collaboration with Coinbase to let traders view cryptocurrency assets. In remarks circulated among media, Fidelity, which has made a name of its own in the finance because of its affection towards Bitcoin and the change, could take effect by next Wednesday. The partnership itself will be between the wallet provider and the broker’s innovation unit of Fidelity Labs.
Initially, Coinbase was hesitant to support the newly created cryptocurrency Bitcoin cash(BCH), after its forking on 1 August. But now Coinbase has decided to support the new cryptocurrency BCH in 2018.
Coinbase has its own mobile application. On this app we can buy, sell, exchange and secure our digital currency safely in the storage space by using their wallets. The app is available to both Android and iOS users on both the platforms.
Coinbase's wallet services enables the buying, selling, depositing and withdrawing of various currencies like Bitcoin, Litecoin and Ethereum. It gives its users a smooth and swift functioning of sending and receiving of digital currency via their website and apps on mobile phones.
The digital currencies that Coinbase holds online is fully protected by insurance policy. This implies that if Coinbase will bear a violation of its online storage, the insurance policy would compensate to customer's lost funds.The insurance policy will cover any losses happening from a violation of Coinbase’s in the cases of physical, cyber security or by employee theft. Coinbase holds minimum 2% of customer funds online. It stores maximum funds offline.
With the funds raised, a part will also be used in opening of new office in New York for its another exchange called GDAX, to serve the institutions and traders for the future.
Coinbase will invest in Toshi. Toshi is an Ethereum based network browser, which will help to speed up the digital currency network and create an environment for payment system at a global level.
Coinbase offers many options for the payment methods for the customers in UK, USA, Europe like linking via bank accounts, withdraw to bank, bank wire deposits, using debit card or credit cards. Such activities will be properly authenticated and carried out in a secure manner.
According to the statistics for Coinbase, it has exchanged $20.0B in digital currency. Coinbase is supported by 32 countries. Coinbase till now have approximately served 9.2 million customers.
Coinbase offers features like insurance protection in which the user's digital currency stored on their server will be secured by insurance policy, providing secured storage, full control over private keys, and one can also schedule their buys, exchanges on monthly or weekly basis.
Coinbase is a one stop shop, they offer a crypto wallet, an exchange platform, and merchant tools within a simple interface. Coinbase is a platform on which many applications are being developed using their API.
With surge in speed of the cryptocurrency market investments and the funds raised, Coinbase aims to build and see companies with innovative ideas based on the digital currencies.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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