Coinbase achieves record sales

Coinbase, the largest American crypto currency exchange, achieved record revenues in 2017. Coin’s repertoire includes not only Bitcoin and Ethereum, but also Litecoin and Bitcoin Cash. The crypto currency exchange is enjoying increasing popularity and performed a veritable vertical flight in 2017.

Record turnover of Ethereum code

The Silicon Valley – News Website Recode published that the six-year young company has achieved over a billion dollars in sales in 2017 like here: On September 30, 2017, Coinbase had expected annual sales of approximately 600 million US dollars according to recode. But Ethereum code run between Thanksgiving and Christmas shot sales in excess of one billion US dollars. To compare the South Korean stock exchange Bithumb had 2017 an annual turnover of “only” 280 million US dollars (according to local press). Of course, Coinbase also benefited from the fact that several international exchanges did not have the capacity to accept additional users. The American company was one of the few crypto currency exchanges to open the gates for registrations.

Shareholder – questionable deals?

Coinbase is so successful that Coinbase´s shareholders are approached by venture capitalists and private investors as to whether they would be willing to sell their shares on the crypto currency exchange. Read correctly, Coinbase has the problem that too many investors want to get involved. In Silicon Valley it’s a rarity.

Coinbase has already announced that such deals will not be tolerated and therefore legal action will be taken as soon as these questionable deals come to light as they violate the terms and conditions.

The company does not make money from the volatility of crypto currencies. Each transaction is charged with 0.25% as a trading fee. In addition fees are raised for deposits and/or disbursements. Coinbase already offers its services in 32 countries worldwide and has over 13 million registered users. It was already the most popular application in the Apple Appstore in 2017.

Why is the stock market so successful?
But Coinbase actually scores with its user-friendliness. Even for newcomers, the exchange is quite self-explanatory and convinces with interesting features such as the monthly standing order on Coinbase. Of course Coinbase is more expensive compared to other exchanges, but in 2017 the crypto currency exchange convinced during the rush of new registrations and did not have to suspend its trading for new users like others.

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