Don't think that the news about the CME announcing they will have derivatives for bitcoin and cryptocurrencies by the end of this year was big news?
Think again!
By the way, more on the CME release can be read here:
Shortly after the CME headline made the rounds, Coinbase saw a massive surge in new user accounts.
Specifically within 24 hours of the headline dropping...
How big of a surge you might ask?
How about 100,000 new accounts in a single day!
Making it one of the best days in the entire history of the company.
That number is staggering for the company, however, it has been much more than just one good day for Coinbase.
Coinbase has been seeing a surge in new customer accounts for some time now.
In fact, taking that new user total into account, the total users at Coinbase has more than doubled since the beginning of this year.
Some Coinbase Statistics:
The total accounts registered at Coinbase now numbers close to 12 million.
Coinbase has exchanged a staggering $40 billion worth of cryptocurrencies and provides services in over 30 countries.
(32 countries to be exact)
Coinbase is one of the largest crypto exchanges on the planet and is one of the few exchanges in the US that offers fiat to crypto on/off ramps.
With all this growth, someone is going to be upset...
Actually a lot of businesses are going to be upset they didn't take Coinbase seriously a few years ago, however, one stands out specificially in my mind.
PayPal.
PayPal decided to do a small partnership with the company a while back instead of purchasing a stake in the company.
Which, given the growth in the industry and in the company, I think they would probably like a redo on.
Overall, I would imagine PayPal is going to be upset at some point that they didn't purchase Coinbase outright when they had the chance a year ago...
That is, if they aren't already upset.
Stay informed my friends.
Sources:
Images courtesy of pixabay.com
Follow me: @jrcornel
Very nice and well presented coverage you're giving us. Good job!
I'm not sure how legit these Coinbase metrics are. If you look at the daily turnover, Coinbase's GDAX is doing a third of the volume of places like Bitfinex.
If Coinbase has all these customers, where is the volume? GDAX should be the top exchange in the world with this amount of clients.
I would imagine most of the clients are buy and hold clients as opposed to many of the others. People use Coinbase to get money into the crypto ecosystem, not necessarily trade from it.
Ok, that's a reasonable argument I suppose. I guess most of the American traders are already on other established exchanges like Bitstamp, Kraken, etc..
I know for me I have had to use coinbase to get money into other exchanges... Not many options for me to be honest. I would imagine that is true for many of those accounts. Need that fiat gateway...
Steemit is another great way for newbies to get into the crypto ecosystem... hopefully a little of that will rub off on us!
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Nice, that is awesome! Such a big number too. My experiences with coinbase have been good... I really like their gdax application as well.
Yes mine as well. If we could just get them to add steem to their wallets, it would be game on for steem... do you have any clout? :)
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I've added at least 4 new people to coinbase. I am glad to be out introducing people to crypto.
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Coinbase charging a whooping 1.49% fee in my region, I have better choices.
They got to fund their servers somehow. But yeah, 1.49% is kind of high, especially if you are an active trader.
If you are a long term holder then 1.5% is doable though.
Ya long term holder would be alright. But still unreasonably high for me.
yup, if there user base has doubled maybe they can give a break on fees..... Gemini i heard is much better, waiting for verification, see whats what
It's odd how these internet technology mavericks like Paypal and Amazon have tried to ignore the crypto trend! I guess when you become that rich you are part of the establishment and are afraid to upset the balance of power because you have it sooooo good! They should've done what Google does all the time. Buy it, run it for a year (to understand it and steal the technology) then fire all the employees and shut it down!!!
It is odd! They're young companies, aggressive in growing, but somehow more into dreaming of drones flying packes to your door than a crypto revolution.
Thing is they can still have it good. All they need to do is take the time to learn about these currencies, which I think they are doing. If Amazon and Paypal incorporate cryptocurrencies as a pay source it would be ground breaking. I personally dont think that is at all far fetched.
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I like Coinbase. Easy to use. Nice and Simple GUI.
I think mostly registered by bots.
Thank you for the stat,
that indicates that bitcoin (and hopefully other altcoins) are about to go mainstream. big time.
That is my hope.
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@jrcornel great post my friend well done
good work my friend
Good information Dear
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good
I haven't been able to withdraw my money yet, and they're not responding to emails!
That is odd. I haven't had any problems with them. Did you verify your account?
Yup. Sent the money to their bank to verify my bank account, the money was returned. So everything looks fine. Thing is, without support, I don't know if I did anything wrong. I sent them an email 2 months ago, again a few days ago, and nothing. Probably overrun by all these new accounts, but still..
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100,000 in one day! That is freaking insane!
That was my exact thought as well... insane indeed! :)
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I am wondering what step will papal take i the next months!
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Considering Coinbase takes about a week to clear funds, if the vast percentage of those 100K put money in, it will be ready towards the end of next week.
That could be a huge turn with a lot of buying taking place. And I am sure this isnt a one day event...they will probably get tens of thousands a day to sign up over the next week.
Really good to see new money flowing into crypto!
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Wow
Thanks for the lovely article. The world of Crypto is growing really quick and fast, so it will be interesting how far it can go. There are so many solid options that are coming up, which too are one major reason behind why growth of this industry. I have recently got myself 1k worth Cryptonetix coin, as they look seriously hot in potential!
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Great!!! Nice Article!! I'll be following you!!!
I had a feeling the latest BTC rise was because of new investors flocking in ! These stats all make sense now. Still very surprised how it rose just within a single day ! within 24 hours. This was quiet surprising
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We goin' mainstream baby!
I'm glad I got to be one of the new 100,000!!!
This is going to be huge. I wonder how many of those account will be maxing there weekly limit for the coming weeks? :)
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how many actually buy or continue to buy/invest/believe in crypto,
we all need to contribute more and introduce more and more people and keep educating the rest, other than that no doubt itll be big and we all gonna drive lambos with champagne in one hand :D :P
This is very bullish for the sector, these people are joining to buy in. I wrote this article which is targeted to people still dragging their feet and feeling like they missed the boat and that it is too late to participate in the exploding crypto/blockchain sector. https://steemit.com/cryptocurrency/@motowngold/bitoin-crosses-7000-dollars-what-can-you-do-about-it-some-investing-ideas-including-crypto-related-stocks
Cryptocurrencies are now a part of our modern history !
I have my doubts 😑
Great post, thanks. I also started on Coinbase, but once you start taking Crypto a bit more seriously you will need more tools, not to mention more currencies.
Tradingview is my number one tool for technical analysis and charts and I sort of like Bitfinex for trading, also Bittrex is all right (even though their small charts annoy me). I am so much looking forward for proper decentralized exchanges and wide use of atomic swaps.
Note to newbies: coinmarketcap has a nice list of all the exchanges where given coin is being traded (just click the coin and then markets).
Surely "any news about Bitcoin - is good news"
So spread the vibes, and just keep accumulating BTC boys and girls!