On its 6th birthday, Coinbase received high praise from Shapeshift’s Erik Voorhees. He Tweeted, “Coinbase remains the most successful and important company in the crypto industry.” Arguably, that is very much the case.
The San Francisco-based cryptocurrency exchange with its barebone menu of offerings, combined with its easy user-interface and relatively smooth onboarding (almost no upfront deposit needed), provide an envious business model. That’s not to write the company is without faults, as it has many.
It might not even be the future of retail crypto access, and perhaps it shouldn’t. Also read: Zimbabwe Bans All Cryptocurrency Activity, Businesses Have 2 Month Grace Period “Today is Coinbase’s sixth anniversary,” wrote COO Asiff Hirji.
“We’re celebrating six incredible years working toward our mission to help create a more open financial system for the world! […] We are in the early days of our mission and there is still so much to do […] Have to know when to follow the rules, when to bend them and when to push to change them.
Breaking them is neither ethical nor sustainable.” It’s probably less of an exchange proper and more of a conservative cryptocurrency bank. It might be fair to simply label it a broker (without bids, asks, limit orders, margin trading, etc). Read more from news.bitcoin.com…
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