Coinbase Pro Reviews - Page 3

Coinbase will buy $500M in crypto and invest 10% of all future profits in digital assets. CEO Brian Armstrong expects the percentage of profits spent on cryptos to grow over time. Leading U.S. exchange by trade volume, Coinbase, has revealed plans to add half a billion dollars worth of crypto to its balance sheet. Coinbase CEO, Brian Armstrong, announced that the company’s board had approved the crypto spending spree in an August 20 tweet, adding that Coinbase also plans to invest 10% of all profits generated into digital assets moving forward. Armstrong also indicated the company hopes to increase the percentage of profit it allocates to cryptocurrency purchases over time. A blog post published by Coinbase on the same day announces that the move will establish the exchange as the first publicly-traded company to hold Ether, DeFi tokens and Proof-of-Stake assets on its balance sheet. The announcement emphasizes Coinbase’s commitment to making long-term investments in the crypto sector, stating: “Our investments will be continually deployed over a multi-year window using a dollar cost averaging strategy. We are long term investors and will only divest under select circumstances, such as an asset delisting from our platform.” The post adds that future investments may be informed by its customers’ holdings, suggesting Coinbase may add an asset to its balance sheet should users make significant custodial deposits of a given crypto cryptocurrency. Coinbase will make its trades on third-party platforms or via its over-the-counter trading desk to avoid creating conflicts of interest with its customers. According to Crypto Treasuries, Coinbase is currently the eight-largest public company by Bitcoin holdings on its balance sheet, and the largest crypto exchange by value of BTC held in its treasury. The news about new expenditures on crypto comes just a day after Coinbase completed its Japanese launch in partnership with Mitsubishi UFJ Financial Group (MUFG). Coinbase will also gain access to Mitsubishi's customer base of about 40 million customers as part of their agreement, according to the announcement. On the same day, Coinbase also announced that it had amassed a $4 billion war chest of cash to prepare for regulatory expense and the next crypto winter.

Coinbase announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ Financial Group providing a “quick deposit” fiat on-and-off ramp. Coinbase, the top crypto exchange in the U.S. has announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ Financial Group (MUFG). The firm led by CEO Brian Armstrong announced on Aug. 19 that it will first launch retail trading products including “a suite of five top assets based on trading volume,” with more assets and products to be listed in the coming months. “We also plan to introduce more localized versions of globally popular services such as advanced trading, Coinbase for Institutions, and more in the future,” The partnership with Tokyo-based MUFG will see the bank provide a fast fiat on-and-off ramp for Coinbase customers in Japan called MUFG Quick Deposit. “In line with our global strategy, we will aim to be the easiest to use and most trusted exchange in Japan that’s fully compliant with local regulations.” the announcement read. Coinbase has had its eye on the Japanese market for a while now, with Cointelegraph reporting in October 2019 that the firm was seeking licensing approval from Japan’s financial regulator the Financial Services Authority (FSA). In March 2020 the firm also registered as a crypto exchange with FSA-approved and official self-regulatory organization the Japan Virtual Currency Exchange Association (JVCEA). Cointelegraph reported earlier today that Coinbase has hoarded a cash-based war chest worth around $4 billion to prepare for decreased retail trading in case of a possible “crypto-winter”, along with increased costs brought on by future regulatory compliance hurdles.

Coinbase beat analyst estimates in Q2, after it generated $2.23 billion in revenue compared to estimates of $1.78 billion. Coinbase generated $2.23 billion of revenue for the second quarter of 2021, as Ethereum (ETH) trading volume surpassed Bitcoin (BTC) for the first time on the platform. Coinbase posted its Q2 report on Aug. 10 and the crypto exchange’s revenue beat analyst predictions — with industry standard financial estimators Refinitiv forecasting $1.78 billion in expected revenue for the firm. Coinbase’s earnings per share came in at $3.45, compared to estimates of $2.33. The trading platform posted a net profit of $1.6 billion in Q2, a whopping increase of 4,900% compared to the $32 million recorded in the same period in 2020. For the first time in Coinbase’s nine-year history, ETH flipped BTC in trading volume, with the assets representing 26% and 24% of total volume respectively. BTC trading volume declined 39% compared to Q1, while ETH increased 23% within that time frame. In the report, Coinbase stated that the decline in BTC trading volume may have been the result of the total Bitcoin volume decreasing “as a percentage of global exchange spot volume,” along with the addition of many new assets which saw increased interest and speculation. The firm attributed the rise in ETH trading volume to the growth in DeFi and NFT ecosystems, along with increased demand due to Eth 2.0 staking. Coinbase saw a 38% increase in total volume compared to Q1, with the firm processing $462 billion of volume in the second quarter. Operating expenses were also high, totaling $1.35 billion and equating to 67% of net revenue. Coinbase stated that Q2 2021 was a “strong quarter” which saw “growth and diversification” across the platform, with the report emphasizing a significant increase in retail and institutional clients: “Retail Monthly Transacting Users (MTUs) grew to 8.8 million, up 44% from Q1 2021. Verified Users were 68 million. We now have over 9,000 institutions who continue to deepen and broaden their activities in the crypto economy.” Retail traders accounted for $145 billion worth of total volume, while institutional investors represented $317 billion, equating to increases of 20% and 47% compared to Q1 respectively. Ten of the top 100 largest hedge funds in terms of assets under management (AUM) are clients of the platform: “In addition, in recent months, we have formed partnerships with industry leaders including Elon Musk, PNC Bank, SpaceX, Tesla, Third Point LLC, and WisdomTree Investments.”

Coinbase has added additional user-friendly payment options to its platform. Crypto exchange Coinbase announced on Thursday that users can now use Apple Pay to purchase crypto assets on its platform, with Google Pay integration to follow. “Today, we’re introducing new and seamless ways to enable crypto buys with linked debit cards to Apple Pay and Google Pay, and instant cashouts up to $100,000 per transaction available 24/7,” said a Coinbase blog post on Thursday. “If you already have a Visa or Mastercard debit card linked in your Apple Wallet, Apple Pay will automatically appear as a payment method when you’re buying crypto with Coinbase on an Apple Pay-supported iOS device or Safari web browser,” the Coinbase blog post mentioned. Coinbase expects to enable Google Pay functionality “later this fall.” In the same post, Coinbase announced “instant cashouts via Real-Time Payments (RTP), enabling customers in the U.S. with linked bank accounts to instantly and securely cash out up to $100,000 per transaction.” Digital asset exchange Gemini made a similar move back in April, integrating Google Pay and Apple Pay cash transfer options on its platform. Coinbase went public under the ticker symbol COIN earlier in 2021 and has significantly developed its business over the years, aiming for compliance with regulatory agencies. A new United States bill presently awaiting approval includes alterations to the country's crypto tax requirements. Coinbase's CEO, Brian Armstrong, recently expressed disagreement with the bill, calling one aspect nonsensical.

Fees is also the factor that could force you to expedite the switch from Coinbase to Coinbase Pro since the latter offers smaller fees compared to the basic version. For instance, you could be charged a 3.99% deposit/withdrawal fee on your credit card, while the crypto conversion fee on Coinbase amounts to 2%. In comparison, Coinbase Pro charges 0.5% taker/maker fees for the accounts with a monthly trading volume of less than $10K. Those who put up a trading volume of up to $50K will have to pay a 0.35% taker/maker fee. Coinbase Pro obviously favors the whales and large institutional investors who operate with millions on a regular basis. For instance, those participants who generate the volume of $50 million to $100 million enjoy the taker fee of only 0.1% and a 0% maker fee.

Coinbase Commerce recently took the stage as Sotheby’s payment partner during the auction offering Banksy’s iconic protest artwork “Love Is In The Air.”At the 14-minute bidding battle, which was marked by the auction house as the first time cryptocurrency was accepted as a payment option for a piece of physical artwork, bidders could pay using Bitcoin or Ether through the partnership with Coinbase Commerce. Sotheby sold Banksy’s art for $12.9 million, but the auction house didn’t comment on whether the final payment was made with crypto. In March 2020, nearly two years after its inception, Coinbase Commerce surpassed $200 million in total transactions processed, with 8,000 retailers using Coinbase for payment services. Product lead John Zettler then said that Bitcoin was by far the preferred payment method among the available cryptocurrencies on the platform, adding, “Merchant customers often tell us it’s the crypto they’re most familiar with and the one they trust the most.”

Coinbase, has announced plans to launch a crypto app store offering third-party developed products. A June 30 blog post penned by Coinbase CEO Brian Armstrong revealed its plans for an app store, stating that while “the crypto economy is still in its early stages, [...] it is clear that every year more and more economic activity will take place on crypto rails.” “Apple didn’t attempt to build every app for the iPhone, it empowered developers and gave mobile users an easy way to access new innovative apps. We need to do the same in crypto.” Armstrong estimated there is now “[tens] of billions of dollars of economic activity running on DApps." The post also emphasized Coinbase’s commitment to expanding the number of crypto assets it supports and increasing the speed of new listings, announcing plans to reduce its legal review for prospective listings and launch an “‘experimental zone’ for new assets.”

In a Tuesday blog post, Coinbase said its users could earn 4% annual percentage yield, or APY, by lending out their holdings for the U.S. dollar-pegged stablecoin USD Coin (USDC). The crypto exchange seemed to be targeting banks with the offering, claiming it has a better return than a typical savings account in the United States. However, Coinbase said the loaned USDC is not protected by the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation — unlike typical savings accounts in the U.S. — nor is the exchange offering a crypto interest account that provides “attractive rates on customers’ assets.” While most savings accounts in the United States provide returns of less than 1% on the dollar, many other crypto platforms provide an interest rate of roughly 8% for lending U.S. dollar-pegged stablecoins. “While the high interest rates are appealing, they can present varying levels of risk,” claimed Coinbase. “You may find that your assets are loaned to unidentified third parties and subject to their credit risk, which could result in a total loss of your crypto holdings.”

Coinbase has already started accepting incoming transfers to ADA and will open trading on March 18, subject to liquidity requirements. The cryptocurrency is being added to the professional trading platform Coinbase Pro. Coinbase.com retail portal and ADA mobile app will not be available for purchase at this time.

The in-house token of cryptocurrency payments app Flexa, AMP, has hit new all-time highs after being listed on major exchange Coinbase. Flexa, which describes itself as the “first ever digital currency payment option for brick-and-mortar retail,” aims to offer a blanket solution for cryptocurrency acceptance and spending. Its previous infrastructure token, Flexacoin (FXC), was converted to AMP late last year as part of an overhaul. The replacement appeared to fare better than the original almost instantly, rising throughout 2021 from a starting value of just $0.006 — year-to-date gains of around 1,700%. Flexa has already partnered with Canadian multinational e-commerce company Shopify. When the latter announced that it would expand its payment features to all Facebook and Google merchants this week, AMP cemented its ongoing bull run, jumping 25% in the past 24 hours alone as exchange Coinbase launched trading.

Coinbase Pro, the professional trading arm of the Coinbase cryptocurrency exchange, has begun accepting inbound transfers for Dogecoin (DOGE), setting the stage for wider adoption of the meme-based digital asset. Trading of DOGE will go live on Coinbase Pro on Thursday at 4:00 pm UTC, provided that liquidity conditions are met, the exchange announced Tuesday afternoon.

Users of the popular exchange can now access their cryptocurrency DApps directly through the Google Chrome browser. Digital currency exchange Coinbase has announced a new browser extension for its native wallet, enabling users to more easily connect to decentralized applications and decentralized finance directly on their desktop. The Coinbase Wallet browser extension is now available on Google Chrome, the company announced Monday. Coinbase Wallet lead Sid Coelho-Prabhu said that more than 1 million Coinbase Wallet customers regularly connect to applications like Uniswap and Compound. The new Chrome extension will streamline this process, removing the need to scan a QR code on their mobile devices each time they want to connect.

Investors mean business as current prices remain more than attractive to new buyers. Another day, another spike in Bitcoin (BTC) leaving major exchange Coinbase as funds pour into the largest cryptocurrency. Data from on-chain monitoring resource Glassnode showed 12,354 BTC ($694 million) being withdrawn from the Coinbase order book in a single hour on Friday. Coinbase sees another BTC balance squeeze. As the largest exchange in the United States, Coinbase has frequently been the venue for major Bitcoin buy-ins this year. Sudden tranches in excess of 10,000 BTC heading to private wallets is far from unheard of but nonetheless demonstrates a desire to at least store Bitcoin for the long term instead of keeping it within easy reach of a point of sale. The type of investor behind such transactions remains uncertain - it could be a private individual or small group, as well as an institutional investor or corporate client. Institutions or not, that’s still a significant outflow.

Coinbase is taking measures to ensure that no office becomes an unofficial headquarters. Nasdaq-listed cryptocurrency exchange Coinbase is going completely remote and closing its head offices in San Francisco. Coinbase announced Wednesday that it will shut down its former headquarters in the Golden Gate City in 2022 as part of its commitment to “being remote first.” “We’ve committed to having no HQ, and it’s important to show our decentralized workforce that no one location is [more] important than the another,” Coinbase noted. According to the company, the upcoming closure will be an important step in ensuring that no office becomes an unofficial headquarters. “Instead, we will offer a network of smaller offices for our employees to work from if they choose to,” the firm stated.

Coinbase insiders and early investors sold about $5 billion in shares in total during the leading cryptocurrency exchange’s first day of trading on the Nasdaq earlier this week, according to series of filings made Friday with the U.S. Securities and Exchange Commission (SEC). CEO Brian Armstrong sold 749,999 shares in three batches at prices ranging from $381 to $410.40 per for total proceeds of $291.8 million, according to one filing. While a Coinbase representative declined to comment due to the company being in a so-called “quiet period,” based on filings made before the listing, it would indicate Armstrong sold about 1.5% of his stake.

The direct listing of Coinbase shares on the Nasdaq exchange was very successful, bringing the exchange capitalization at some point to $ 105 billion. Thus, the leading cryptocurrency exchange became also the largest exchange on the planet. It is difficult to underestimate the image value of what happened. The American cryptocurrency exchange has shown that the cryptocurrency sector is increasingly entering the mainstream and will attract a large number of participants who previously simply did not consider cryptocurrencies to be an asset worth investing in.

Coinbase entered the stock market through a direct listing, thus abandoning the option to raise additional capital through an initial public offering (IPO). While stocks of other companies associated with the cryptocurrency space were already available for trading in the stock market in the past, Coinbase's listing has garnered the most investor and media attention in its category. Coinbase previously gave away 100 shares to each of its 1,700 employees. In accordance with the reference price of the asset of $ 250, each of the employees of the trading platform received securities for $ 25 thousand. Coinbase was founded in 2012. There are about 50 cryptocurrencies on the exchange. The platform has 56 million users. In April, the company reported preliminary results for the first quarter of 2021: revenue grew nine times year-on-year - to $ 1.8 billion, net profit increased to $ 730-800 million from $ 32 million a year earlier. Direct listing of a cryptocurrency exchange is the next step in integrating crypto with traditional finance. The dynamics of the shares after the placement can seriously positively affect the image component of the entire industry as a whole. Nevertheless, one should also not forget about another option, when a serious disappointment in the results of the placement may negatively affect the sentiments of market participants.

Cryptocurrency exchange Coinbase Global Inc was set to be valued at more than $94 billion in a stock market debut on Wednesday that marked another milestone in the development of bitcoin and other digital assets. At 11:37 a.m. ET, the company’s stock was indicated to open at $360 per share, up 44% from a reference price of $250 per share, making its implied value around three times that of exchange operator Nasdaq. Coinbase’s listing is expected to accelerate that process by boosting awareness of digital assets among investors. Others experts said risks included Coinbase’s exposure to a highly volatile asset that is still subject to patchy regulation. Founded in 2012, Coinbase boasts 56 million users globally and an estimated $223 billion assets on its platform, accounting for 11.3% crypto asset market share, regulatory filings showed.

Ahead of its initial public offering on April 14, Coinbase reported bumper revenue this week. At $1.8 billion, Q1 outperformed the entirety of 2020. The numbers became an instant talking point as market participants weigh up the likely impact of the IPO launch. Other IPOs, including the recent Deliveroo sale, sparked sell-offs. Amid sky-high valuations and the associated buzz, however, it appears that all Coinbase had to do in order to outperform was to buy Bitcoin. Specifically, the exchange’s $30-million seed funding in 2013 would be worth up to $2 billion had it been converted to BTC at the time. By contrast, Coinbase’s lifetime profits total to date are estimated to be somewhere between $780 million and $1.3 billion.

Active users on Coinbase jumped from 2.8 million in the fourth quarter of 2020 to 6.1 million in the first quarter of 2021. Verified users – or the total number of people with Coinbase accounts – increased from 43 million at the end of 2020 to 56 million at the end of Q1 2021. Trading volumes topped $335 billion in Q1. For all of 2020, trading volume was $193 billion. Total assets on Coinbase’s platform increased from $90 billion to $223 billion, nearly a 150% increase quarter-over-quarter. Showing how solidly Coinbase has cemented itself at the center of the current bull run, some $122 billion of those assets were from institutions.