Headquartered in San Francisco, California, Coinbase emerged as the leading digital currency wallet service that allows traders to buy and sell cryptocurrency like bitcoin.
The interest, as well as the amount of investment that was put into cryptocurrencies, hyped up in the past year and there emerged the need of a secure facility of exchange to allow the buying, selling and execute other transactions related to crypto- at such a time Coinbase emerged as one of the safest portals to deal in cryptocurrencies.
Things You Should Know
Coinbase was launched in Fransico, back in 2012 and is currently functional in as many as 32 countries and serves over 12 million customers with over 40 billion dollars in digital currencies. When 2013 was reached, Coinbase came out to be the most funded Bitcoin startup and was also the largest portal for the exchange of cryptocurrency in the world. It is different than other exchanges in the market that require users to trade in a market- Coinbase, on the other hand, allows them to exchange their cryptocurrency at a set price that is based off the market value, which makes the whole transaction much faster than any other exchange. It also just happens to be one of the few portals that accept credit cards (in addition to bank transfers).
Coinbase went on to gather some real high-browed backers as investors, including the Bank of Tokyo and BBVA, which is proof of its legitimacy.
Some people wonder whether the facility of Coinbase is safe or not- well, among its competitors, Coinbase is probably the safest that there is. It is important to note here that Coinbase is based In the USA and it complies with all of US’s State and federal laws- thus making it much more secure than other exchanges that have a loose law system.
As far as storage of funds is concerned, the methodology of Coinbase is highly transparent- it categorizes and separates customer finds from company’s operational funds and it has mentioned on its website that any funds that they hold on behalf of their customers are kept safe in custodial bank accounts and in case a financial crisis does occur, neither Coinbase nor its creditors would have any rights or claims to the funds of their customers. Coinbase also guarantees that 98% of customers’ cryptocurrency finds are stored offline by the means of hardware wallets and paper wallets that are further secured in vaults and safety deposit boxes around the world. The security is further boosted with Coinbase claiming that the left percentage of the cryptocurrency which is stored online is insured and in the event of any hacking that is near to impossible, customers will have a claim to receive any funds that they may have lost via their insurance policy.
Coinbase found worldwide substantiation for their efforts and for some of our amazing colleagues. Ultimately, these awards highlight the efforts of every single employee, and Coinbase was highly grateful to all its employees and staff members for making it such an amazing place to work. Top highlights include:
- LinkedIn went on to rank Coinbase as the #3 most desirous and profitable startups in the US.
- Fortune’s prestigious publication- The Ledger featured four members of Coinbase in its list- 40 under 40
- Major personalities working with Coinbase such as Tariq Meyers and Emilie Choi have been recognized by many international magazines and newspapers, like The Root.
Coinbase is not going to leave you stranded alone in this cyber world, for it offers customer support via email and you can easily find a knowledge base on its website along with FAQs that are available for customers. Although the time that you will be spent in waiting for customer support may vary, Coinbase makes sure that all its users are left with their questions answered no matter how busy or caught up they are.
And so we can say that something so novel to have reached the heights of success so soon is truly a tremendous achievement for Coinbase; it is indeed the best startup that 2018 bore!