![]() As these industry titans began dabbling in crypto, some even accepting it as a form of payment, crypto awareness and appreciation spread like wildfire.ĭespite the world’s rising acceptance (or, at least awareness) of crypto, Coinbase’s ongoing survival was still hard-fought. They began reaching out to and educating the likes of Dell, Expedia, Time, Stripe, and PayPal on the power and security of crypto, and their strategy worked. To get there, the founders took a top-down approach. Back then, 1 BTC traded at roughly $13, so his first-year earnings are now worth north of $200 million.Ĭoinbase rapidly grew to 1,000 employees and 250,000 users by 2014 – a meteoric growth curve by any measure, but its founders never lost sight of their initial mission: to bring crypto to the masses. At the time, they shared a two-bedroom apartment with another company.įun fact: Coinbase’s first hire, a recent grad from Vassar College named Olaf Carlson-Wee, was paid his entire $50,000 annual salary in Bitcoin. That’s where Coinbase found its first guiding principle: to make crypto easy to use.įollowing a successful pitch to Y Combinator, Coinbase secured its first round of funding and the two founders started work coding out the platform. The challenge, of course, would be to make it easy for the common person to convert fiat (aka government-issue) currency into crypto. Everyone on Earth having their own digital currency? There’s gotta be a future in that. ĭespite crypto’s almost comical level of obscurity at the time, the two men still saw limitless potential. “When Brian Armstrong and I started Coinbase in 2012, a bitcoin was worth $6 and only known by a few nerds on the internet” Fred Tweeted. Crypto and Coinbase grew up togetherĬoinbase was conceived when two avant-garde crypto evangelists met on Reddit. Not only was it one of the first, but Coinbase itself played an instrumental role in the growth and widespread acceptance of cryptocurrency. Now, there are dozens of crypto exchanges out there these days (and surely more on the way), but Coinbase is objectively special. It’s a U.S.-based site and app where you can easily buy, sell, and trade Bitcoin and 100+ other cryptos. What is Coinbase?Ĭoinbase, at its core, is a cryptocurrency exchange platform. To find out, let’s take a deep dive into the founding of Coinbase and how it stacks up today in terms of fees and features. ![]() In short, is Coinbase the Steven Spielberg of crypto exchanges? Or the M. With 73 million verified users, Coinbase has a bigger population than the entire United Kingdom – and that’s before counting its 185,000 “ecosystem partners.”Ĭoinbase is unquestionably popular, and the global media coverage surrounding its 2021 IPO certainly blasted its brand awareness into the stratosphere.īut is Coinbase’s ongoing popularity earned ? Is Coinbase truly an excellent, well-rounded crypto platform deserving of praise and patronage? Or is it overhyped? That brings me to Coinbase – easily the most popular online crypto marketplace. ![]() I won’t point fingers, but I bet you can think of at least one restaurant, car, or celebrity that makes you wonder why the heck is _ so popular? Don’t their fans know that there are much better options out there? There’s very little quality underpinning their popularity – just consumer awareness paired with market omnipresence. Five Guys, Adele, and Steven Spielberg all come to mind.īut sometimes, things are popular… just because they’re popular. Sometimes, things are popular because they’ve earned it. ![]()
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