Coinbase is officially a public entity that trades with cryptocurrencies at the expense of the dollar rate. The tech company’s reference price is placed at $250, directly listed by Nasdaq. Coinbase is yet to record a patron, still, they ended their first trade with $328.28, which is equivalent to the market cap of $85.8 billion.
In contrast with the Nasdaq exchange company Coinbase is assigned to, Coinbase was quite impressive with its first day in Wall Street — ending its trades with such an awesome market value. Coinbase’s presence in the trade market portrays how flexible proxy investments are developing. This means greenhorns can also achieve more getting involved with Coinbase’s stocks.
Remember, the 2000 nostalgic heartbreaking experience of real-time financial investments — crisis in the banking sector, mishaps of cyberpunks thriving market panicking that peaked at the time. Meanwhile, Bitcoin’s initial emergence was unpredictable that pushed financial institutions to distrust its stamina until its current value appears to be a stable currency.
Over time, Bitcoin has encountered ups and downs to attain its current impressive networth. Digital money possesses the attribute of continuous growth whereby several billion-dollar companies have invested funds to tap into its responsive earnings, including Technoking’sTesla, Square, Uber, Visa, PayPal, etc. — not forgetting Coinbase itself.
Coinbase is also responsive in the FinTech industry, transacting instant currency exchange — the intertwined dollar exchange for any preferable digital money of choice. It worth noting that Coinbase is currently the largest crypto exchange company in the States.
For instance, managing your Bitcoin investment with your wallet, which requires certain sensitive information you are likely to lose, even if there are stored in a hard drive. Coinbase is now a public entity, so registered investments have less or zero risks — gradually investing in cryptocurrency becomes simplified.
According to market analyst theory about Coinbase seem to lead the transition towards the Securities and Exchange Commission (SEC) accepting digital coin as ICO, security offerings. Other rumored theories insisted Coinbase offered a token of its coins to its investors and these tokens replaced the usual stocks.
These investors pushed crypto platform to go public because they don’t want to depend on cryptocurrency alone — backing up digital money with the real-time dollar. It intertwines for both the company and the investors, Coinbase is currently a profitable entity.
Meanwhile, critics suggest Coinbase will be less profitable overtime as cryptocurrencies consistently attain growth — critics claim it is too high. This could transpire a backward transition whereby their services will be ignored for the listed reasons:
Investing in bitcoin will be profitable than investing in Coinbase.
Coinbase fees might become high and scare away customers.
Proxy investment remains risky while Cryptocurrency looks forward to being regulated.
