Coinbase Global, Inc., branded Coinbase, is an American company that operates a cryptocurrency exchange platform. Coinbase operates remote-first, and lacks an official physical headquarters. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam, and as of March 2021 was the largest cryptocurrency exchange in the United States by trading volume. On April 14, 2021, Coinbase went public on the Nasdaq exchange via a direct listing.
Coinbase is one of the most popular cryptocurrency exchanges in the world, based in the U.S. and operating at varying capacities in 103 other countries including the likes of the U.K., Mexico, and Spain. A cryptocurrency exchange, as the name suggests, functions as a middleman in the crypto market, providing a platform for users to buy and sell different coins. Exchanges vary on factors ranging from the type of coins it trades, whether it allows for purchases with fiat money (USD, EUR, JPY), transaction fees, and processing times.
For those looking to purchase the most popular cryptocurrencies with fiat money, Coinbase remains one of the most secure and used options out there. It features an easy-to-use interface that makes it great for those looking to get into buying and trading cryptocurrencies for the first time. Processing times can be lengthy though, typically lasting between three to five days, another reason why this service caters more toward those looking into cryptocurrencies for the first time than those looking to make serious trades.
Remember though, while it allows you to buy and sell coin, you can’t store it there. For that, you’ll need a wallet. These come in the form of hardware, software, online services, or even paper. There intended for the security of your coin in case someone ever hacks an exchange. While Coinbase itself carries the rare distinction of never being hacked, many users’ individual accounts have been compromised in the past. Setting up a personal wallet rather than relying on the one Coinbase provides is likely your safest option.
According to en.wikipedia; thestreet.com. Source of photos: internet