Send me real-time posts from this site at my email
Ralph Nelson

NEWSBREAK 4/16: Coinbase Goes Platinum

This week, cryptocurrency had its coming out party. While the concept has become well-known, and invested in, by many in the forms of leading alternative currency Bitcoin and pure meme-fueled tomfoolery in the form of Dogecoin, the IPO of Coinbase, a crypto exchange founded in 2012, is a leap for crypto as a whole.

What makes Coinbase revolutionary is the ease of access it offers consumers. It allows easy trading and conversion of nearly 50 cryptocurrencies—including big names like Bitcoin, Etherium, Litecoin and many others—removing a barrier of entry for the layperson interested in using cryptocurrency. Coinbase functions similarly to whichever trading app you use for stocks, including buying fragments of different coins, some of which are valued at $50,000 a piece and above.

While this may sound like an obvious service, it helps bring cryptocurrency into the lives of average consumers and retail investors, right from their smartphone. In theory, this could also open up avenues for day-to-day buying of commodities using various cryptocurrencies.

Like many recent IPOs, Coinbase saw an explosive opening in its market debut, with the value of the company briefly breaking $100 billion before settling somewhere closer to $86 billion. While this valuation may sound staggering, it’s in line with the growth cryptocurrencies have seen. Bitcoin, for example, is up to $64,000 a coin. It started the year at $29,000.

The Coinbase opening raises more questions than it does offer answers. Will this cause a crypto revolution, in which we use Coinbase in our every day lives, when we go to McDonalds or to buy a new car? Regardless, Coinbase, trading as COIN, has already made a major impact on the NASDAQ and opened up crypto to a wider user base, on top of allowing more conventional investors an entryway to crypto without dealing with the fluctuations of the coins themselves.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue