I went for a Clickbait style Title this Time. But on another Note, it is not far from the Truth. Coinbase is one of the well-known names in the Cryptocurrency Community as most of the Newcomers goes to Coinbase for their First Bitcoin Wallet.
That being said Coinbase has been on a Roll lately. It was earlier this Year that Coinbase bought Earn.com which lets you earn money in exchange for answering Emails and completing small tasks online.
After Buying Earn.com Coinbase has now acquired the Decentralised Exchange Paradex.
What is Paradex?
Paradex is a platform which lets users trade virtual coins in a peer-to-peer manner. It is an iteration of the decentralized exchange model, as it does not maintain custody of tokens at any stage.
So doesn't this look like Coinbase is on Hunt for Potential Big Timers.
It certainly looks that way to me.
What do you Guys think about this Development?
I wonder how Paradex is going to work now that Coinbase is buying them. I've never used Paradex, and what I wonder most is will Paradex require KYC? How would that work? Coinbase is somewhat regulated, so it'd make sense.
You can bet Coinbase, Gemini, and the rest of the big boy crypto exchanges are working with regulators to get everything just right and legal. I would assume the KYC would be provided by the main Coinbase platform which would then grant you access to the backend decentralized Paradex platform for token trading.
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Coinbase remains a highly centralized option, which won't appeal to every user. In fact their limited range of fiat gateways makes it an option which excludes the majority of users around the world. I can see where they're going with this, and they will probably end up with a banking licence in most jurisdictions soon - good for reassuring institutional investors, but hardly in tune with the original libertarian transparent cryptocurrency ethos.
I am convinced decentralized exchanges are the future, and am most excited about Local Coin Swap, launching this summer - still time to get in on their ICO if you hurry https://www.localcoinswap.com/?utm_source=bsx30