Finally a noteworthy competition for Coinbase! Coinbase makes millions a day just based on our purchases because they are the only easily-accesible on-ramp from fiat to crypto. Hopefully, this competition will drive down processing fees and encourage a better user experience for us while they compete for market share. With BTC transaction costs going down as well, it will be mostly dependent on the on-ramp itself, so I am excited to see the innovation that is to come. Thanks for the video!
Information released to Coinbase shareholders indicates that the crypto exchange made $ 1 billion in sales last year. That's the equivalent of $ 2.74 million a day and $ 2,000 a minute.
According to Recode, the crypto exchange took in more than $ 1 billion last year. Most of the profits came from transaction fees. These are between 0.25% and 1% on the crypto exchange. With a large number of transactions or high transfers, this quickly leads to large sums.
But not only the cryptocurrencies on Coinbase are sought after, also the shares of the company are in demand by investors. Shareholders reported that new investors are interested in buying their shares. Coinbase, however, has signed contracts with its investors, which prohibit exactly that.
Selling shares on secondary markets is prohibited for a variety of reasons. One of the reasons is that there is no complete information for the market, it said in a statement of the crypto exchange. "We will take reasonable action if we find out that people have sold their Coinbase shares, contrary to the agreement not to do so."
It's about time that coinbase gets a big competitor.
Wow, I didn't know that about the shares. It makes it almost like an exclusive club-type setting, making the rich richer. I agree with you, it's time for some solid competition to come in and force them to put the cutomer first.
Robinhood's popularity is increasing, because its future is very good. It's more active than before, so we're going through a good time.thanks @trevongb for video
Sign in using to GDAX.com Coinbases exchange using the same password. Set limit order. Youre now a maker=zero fee..But still i think robinhood is a much needed competitor and would trust them with my money more than coinbase. Their regular app is huge.
Coinbase is highway robbery
Coinbase VS. Robinhood reminds me of that classic battle between Luke Cage and Diamondback...
One has been the bully far too long on our bank accounts... now we need a change, or somewhat of a break to grow our accounts. The funny thing is how greedily delusional these exchangers have been. Really do they feel that they can take such large processing fees forever, before some other service comes out of the crowd to create more ease on our investing process? Well it's here... night night coinbase...
Exactly what i wanted to say. Competition is good, for everybody.