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Coinbase is an online platform that grants access to merchants, consumers, and traders to transact with digital currency. It allows the users to create their bitcoin wallet and start selling or buying bitcoins connecting with bank accounts.
It provides merchants with payment processing systems and tools to support many high-trafficked websites on the internet. They used to have broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many other cryptocurrencies, with fiat currencies with approx 32 countries and bitcoin transactions and storage in 190 countries all over the world. This company was founded in 2012 by Brian Armstrong and Fred Ehrsam, and currently, it is the leading cryptocurrency in the United States by trading volume.
The company launched the services to buy and sell bitcoin in October 2012. Also, the company received US$ 5 million series in May 2013 of investments by Fred Wilson from venture capital firm Union Square ventures. The company also received US$ 25 of investment from venture capital firm Andreessen Horowitz, The USV, and Ribbit Capital in December of the same year. The company grew up to one million users until 2014, achieved the blockchain explorer service block, and the company's web bookmarking has secured insurance that covers the value of Bitcoin stored on their servers and launched the vault system secure bitcoin storage. Throughout 2014, the company also partnered with Overstock, Dell, Expedia, Dish Network, and Time Inc, granting permissions to those firms to accept bitcoin payments. The company also added bitcoin payment processing capabilities to traditional payment companies Stripe, Braintree, and PayPal.
Coinbase has emerged as a crypto asset kingmaker for investors, as assessed on its exchanges has seen a substantial price appreciation. This development is mostly a result of crypto assets evolving into an investment vehicle. Coinbase's excellence in security, regulatory compliance, and ease of use has helped drive up user numbers.
Cladding the challenges, Coinbaase moves ahead to expand its core business and explore farther-ranging opportunities. Ultimately, Coinbase's story reverts to mirror the sectors as a whole. Until a real blockchain technology is deployed, tested, and used, Coinbase is virtually at the whims of spectaculars hoping for a quick buck. And it knows the perks of its work, so on the way of riding the market again as coinbase is coming up as it is preparing itself for a stock market listing with a confidential application to SEC to go public.