By: Damian Okonkwo
COINBASE the largest crypto exchange in US has emerged the best rated Crypto exchange market according to Wikibit rankings. However, this Crypto exchange was found not to have a physical office based on the findings of Wikibit visiting agents
A. Wikibit Ranking of Coinbase.
Following the usual Wikibit investigations and rankings of various Crypto currency exchange platforms, Coinbase has emerged the number one most recommended Crypto exchange by Wikibit based on the quality of services they offer and positive assessments from clients who have engaged their services for the past 10 years in which they were founded. COINBASE has scored 9.57/10 and with this high score emerged the best Crypto exchange according to Wikibit rankings.
B. Regulation
COINBASE Crypto exchange is regulated by multiple regulators such as: Financial Conduct Authority (FCA in UK), Security and Economic Commission (SEC in US), Nation wide multi-states License System (NMLS) and New York State Department of Financial Services (NYSDFS).
C. Foundation of Coinbase.
Coinbase Global, Inc., which had been branded Coinbase, is an American exchange company that was founded in 2012 by Brian Armstrong and Fred Ehrsam.
This exchange would turn out to become the preferred exchange by US citizens thus by March 2021 it was discovered to be largest crypto currency exchange in the United States by trading volume.
Coinbase operates as a remote company, and has no physical headquarters. According to the data by Wikipedia.com, Coinbase has over 43 million verified users, 7,000 institutions and 115,000 ecosystem partners in over 100 countries. It also reported net revenue of $1.14 billion in 2020, up from $483 million the previous year. The company also reported net income of $322 million for the year after posting a loss in 2019. Out of the $782 billion worth of assets on the crypto market, some $90 billion worth is held on the Coinbase platform.
D. Services offered by Coinbase.
Coinbase serves as an intermediary for facilitating Crypto currency transactions serving both buyers and sellers. It offers products for both retail and institutional Crypto currency investors, as well as other related cryptocurrency products.
To further enhance their services, Coinbase has provided an app used to buy, store and trade different cryptocurrencies, such as Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and Dogecoin.
Equally Coinbase have provided a Wallet inform of an app which allows customers to access decentralized crypto apps (dapps) using a dapp browser.
Further Coinbase has developed on their platforms a USD stable Coin, which is a digital currency that allows customers put up U.S. dollars in exchange for a cryptocurrency that has the same value but can be traded more easily.
Above all, Coinbase has built a debit Visa card that allows customers to spend cryptocurrency on the spot through digital Payments.