Andrey Primula 03/19/2018
The cryptocurrency platform Coinbase appeared in 2012 in the USA. The headquarters is located in San Francisco.
The platform offers cryptocurrency trading in 32 countries. Since its inception, Coinbase has served more than 10 million clients.
This exchange is one of the few platforms of its kind that accept credit cards.
The site is offered in English. Language options also include Spanish, French, Dutch, Portuguese and Indonesian. The site was created by Americans, so those who speak at least basic English should not have problems understanding how to work on the stock exchange. Moreover, you can always use an extension to translate the page in your browser.
Ease of use and safety
The Coinbase website offers a user-friendly interface. The main page presents all the main menus through which you can get to the trading platform itself, as well as select other products offered by the company.
Regarding security, the site offers the following solutions. 98% of all user funds are stored offline in hardware wallets. This allows you to protect user funds from theft or loss.
All important information stored on the company’s servers is also not available online.
The information is encrypted with the AES-256 algorithm.
The company's security service stores data on USB and paper media, which are distributed and stored in secure safes around the world.
Another element of security that Coinbase offers is two-factor authentication.
In order to carry out most operations, in addition to entering your username and password, you must also enter a code from your mobile phone.
The site uses SSL protocols.
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Features of the Coinbase cryptocurrency platform
The exchange offers a modern trading platform with the ability not only to trade, but also to analyze the situation.
For this purpose, a wide range of tools is provided, from types of charts to indicators. You can switch between different timeframes.
By the way, this platform was added only in 2015. Until this point, the company offered the usual mode of purchasing cryptocurrency as on an exchange.
Users could only make transactions. No analytical tools were provided.
GDAX is a world-class platform with market depth as well as transaction history. It also offers an API for creating trading bots. The advantages of the terminal include the fact that makers here carry out transactions without commissions.
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Crypto exchange industry overview
Before analyzing Coinbase, it is worth making a short general introduction about how cryptocurrency trading works, which has become a multi-billion dollar industry in a very short time. First, a little history.
Short story
Cryptocurrencies as an asset class emerged in early 2009 with the launch of the Bitcoin network, the first blockchain protocol. At first, Bitcoin was known only in very narrow circles of geeks; it could be mined on a regular computer, but the mined coins had almost no value. Selling or buying them was also quite difficult. There were no organized platforms for such operations; usually specialized forums or eBay were used for this.
Then came the first small wave of hype around cryptocurrencies in 2011. Even separate articles appeared in well-known media like Bloomberg. Then, in a few months, the price of Bitcoin increased tens of times and instead of cents it began to cost dollars. For the first time, some users earned relatively significant sums thanks to Bitcoin - thousands of mined coins began to cost tens and even hundreds of thousands of dollars. On Twitter you can find funny tweets from users from that time. Now 1700 BTC is worth about $70 million at the exchange rate at the time of publication
