Coinbase is currently the world’s biggest and most acclaimed crypto trading platform. The success of this unique trading platform was because of those individuals who had formed Coinbase in 2012.
The persons who founded Coinbase included one Brian Armstrong and Fresh Ehrsam who both were highly professional individuals. While Armstrong was an Airbnb Engineer but on the other hand Ehrsam had years of trading experience with Goldman Sachs. Both had formed this early crypto trading platforms for helping customers send and receive funds through Bitcoins. Within no time, Coinbase became the focal point of almost all crypto trading and reached high number of customers.
Currently, as per the data collected at 31st December, 2020, Coinbase has retail customers about 43 million. There are at least more than 7000 customers who are well-known institutions. It has entered into partnerships with more than 115,000 companies which are spreading over at least hundred countries.
The latest data relating to Q1 of 2021 shows that the firm has been able to generate highest ever revenues. The revenue it had earned in three months period is 900% more than what Coinbase had made in 2020’s first quarter. Furthermore, the company has already earned net profits to the tune of US$ 322.3 Million which is higher than the whole last year as well.
The firm presently is undergoing a process for becoming a public listed company at NASDAQ. The listing is likely to mutualize on 14th of April, 2021. However, its customers are concerned why would Coinbase be going public when crypto rally is still going on. They are concerned that Bitcoin continues to gain more value and Ethereum has gone past US$ 2,000.
But the company is looking forward to put up its stocks for public purchase. It has been announced that the next week, the stocks will be enlisted with NASDAQ and will be available for public trading.
The overall strategy of the company is to have more and more customers from across the globe. In this pursuit, the company has had offered several products to its customers. For instance in 2019, the company introduced its very own credit cards which were given to the customers. The product was an instant hit and customers felt more secure than ever before and empowered to sell and purchase crypto assets at any time and any place.
Similarly, in the past year, Coinbase introduced another feature known as “post-trade credit” for its institutional customers. This feature allowed its institutional customers to invest without the need to inject money prior to the investment. In fact it was like borrowing money from Coinbase and then paying afterwards.
For the time being, Coinbase is the biggest crypto trading platform of the world which is carrying out billions of dollars trades every month.