Founded by Brian Armstrong and Fred Ehrsam, Coinbase came into existence in the year 2011. The company began the services of buying and selling bitcoin via bank transfers in the year 2012. Coinbase is based in San Francisco, California. The digital currency wallet and platform allow merchants and consumers to transact with new digital currencies. The digital currencies may include Bitcoin, Ethereum, and Litecoin. A large number of users consider the exchange as highly beginner-friendly. It is because of its stunning and easy user interface. As Coinbase is a brokerage, you can buy Bitcoin and other cryptocurrencies directly from the company. You do not have to buy Bitcoin and various other cryptocurrencies from other users. Coinbase charges 1.49 percent fees on bank purchases and 3.99 percent fees on debit or credit buys.
As a result of its low fees, it is suggested to use your bank account while you make huge purchases. In comparison with other brokerages, Coinbase’s fee is on the lower side. The security standards of Coinbase have emerged to be really high. It is interesting to note that Coinbase is supported in various continents. It may include Africa, Europe, Asia, Australia, North America, and South America. Coinbase has also been supporting famous stable coins like DAI, USDC, which is a crucial feature of any famous cryptocurrency exchange.
In the beginning of 2017, Coinbase’s users reached a record level of 10 million. Of late, the client base has also surged by an average of 1 million monthly. The cryptocurrency wallets at Coinbase is registered over 30 million. Earlier in January 2015, the popular exchange received a whopping 75 million investment. In December 2015, 25 million came from Andreessen Horowitz and Ribbit Capital. The user base of Coinbase grew to one million users in 2014.
We have put together the ultimate beginner’s guide for understanding and investing in cryptocurrency!