Coinbase reported significant user growth before IPO - page 2.

bitmover

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Quote from: pugman on April 16, 2021, 06:50:09 PM

Personally, I want to see where this IPO takes Coinbase. Like you said, binance's expansion is fuckin crazy and they are trying to create a monopoly. Binance aquiring CMC and various other companies in the crypto-world is just the tip of the iceberg. I want coinbase to take a fully-global route. Cause right now, I believe binance still is available in more countries in comparision to coinbase, if I am not wrong? Correct me?

Yes , coinbase is mostly in us while binance is global
You can check here that binance has much more fiat pairs than coinbase

https://coinmarketcap.com/rankings/exchanges

Binance supports 46 fiat currencies while coinbase only 3 (USD, EUR, GBP

pugman

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dogs are cute.

I actually saw their founders post some info on twitter, reading it made me smile hard. Its just one of those things you read and go like damn I saw this grow in front of my eyes(I still hate coinbase kind of)

Read both of these threads: https://twitter.com/FEhrsam/status/1382242839296299011

https://twitter.com/brian_armstrong/status/1382428172273131522

Coinbase, everything it stands for now, was made by two nerds who met on the internet. Holy fuckin shit.

Personally, I want to see where this IPO takes Coinbase. Like you said, binance's expansion is fuckin crazy and they are trying to create a monopoly. Binance aquiring CMC and various other companies in the crypto-world is just the tip of the iceberg. I want coinbase to take a fully-global route. Cause right now, I believe binance still is available in more countries in comparision to coinbase, if I am not wrong? Correct me?

Husires

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The best thing that this IPO will bring is more transparency and introducing people to cryptocurrency services, as it has become something that has a market position such as Apple, Google and other companies listed on Nasdaq.
Binance is dominating altcoin market cap and it will be a knockout blow for 70% of the altcoins.
It is centralized and trying to expand and it does not dominate the bitcoin market.
Transparency is required for a lot of centralized platforms and we need strong decentralized one.

The Cryptovator

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I have been using Coinbase for a long time but used only wallet service. I haven't tried coinbase pro since the coinbase prevents me to trade (exchange) inside coinbase. I am still not sure if coinbase pro allows users from my country nor I had taken a deep look. To be honest, centralized is just centralized doesn't matter whatever exchange you choose. Binance rolling the crypto exchange industry and they have a good reputation at all. Every exchange has a few weaknesses like a support system. But honestly, I like to see a strong competitor of Binance. So there will be a competition of service as well who could give the best. Anyway, I will take a deep look into coinbase pro if it's possible to trade there and allow from my jurisdiction.

Lucius

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At a time when crypto is going viral, everyone wants their share of the pie, so I'm not at all surprised that the number of users has increased in such large numbers - and when we add that Coinbase and Binance are the most famous crypto exchanges, it is logical that most new users end up on these platforms.

For me personally, it is not too important where someone will buy their crypto, but it is much more important that they understand what they should do after that, which means that they should not leave that same crypto to someone else for safekeeping. The idea of cryptocurrencies actually takes us back to the beginning of the problem - crypto exchange controls your coins and they are controlled by the government - which means that your funds can be frozen at any time and, in the worst case, confiscated.

Tytanowy Janusz

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I think this grow in user base and trading volume it rather caused by the fact that durign Q1 bitcoin pumped from 29k to 61k.

From today's binanace quarterly burn report:

"In Q1 2021, Binance recorded growth of 260% and 346% in traded volume and users respectively,"
https://www.binance.com/en/blog/421499824684901944/15th-BNB-Burn-%7C-Quarterly-Highlights-and-Insights-from-CZ

So despite the fact that coinbase is growing very fast it does not mean that it is growing against binance. Binance might in fact grow even faster.

And binance is also starting to dominate etherum (not yet but those number are prmising):

"1. BSC reached as much as 4.9 million daily transactions (as of April Cool

. That’s 300% more than Ethereum’s all-time high in daily transactions.
2. The total unique address count on BSC has reached 64 million in just eight months. For comparison, Ethereum is at 148 million.
3. Currently, 450+ projects have been built on top of Binance Smart Chain.
4. BSC played a significant role in growing the number of active dApp wallets (+639% in Q1 across all blockchain platforms), bringing in an average of 105,000 daily active wallets, compared to 458,000 daily active wallets for the entire industry."
https://www.binance.com/en/blog/421499824684901944/15th-BNB-Burn-%7C-Quarterly-Highlights-and-Insights-from-CZ

bittraffic

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$223B trading volume this Q1 alone is really big.
I also like the idea that it's not just the Chinese exchanges that are dominating the market such as Binance. A bigger contender like Coinbase will put some balance which will also introduce the crypto market for newcomers to come in. Maybe it's not so impossible after all we could see news and not just cities like Miami becoming a hub for crypto users.

tyz

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I also looked into Coinbase a bit more yesterday, as I briefly thought about buying the stock, but refrained for now. In fact, Coinbase made huge gains in new users in the fourth quarter of 2020 and first quarter of 2021, as well as in revenue and profit. This should not surprise anyone after the enormous pump in the crypto sector in recent months. Many newcomers register first and foremost with simple exchanges like Coinbase. Coinbase benefits from this, the only question will be whether these growth rates can be maintained. In addition, Coinbase currently still has very good earnings on transactions. With increasing competition, this will also decrease further. I doubt that the current market valuation of around $100 billion can be maintained.

bitmover

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Quote

Coinbase Experiences Brisk User Growth Ahead of IPO

.

The Briefing

Coinbase is the largest cryptocurrency exchange in the U.S.
The company added 3.3 million transacting users in Q1 2021 – a 117% increase
$133 billion in assets were added to the platform, totalling $223 billion in Q1 2021

...
Industry experts believe this strong start to the year is a good indicator of the company’s future profit potential.

For instance, the investment bank DA Davidson raised Coinbase’s share price target from $195 to $440 after seeing the company’s Q1 results.

Source: https://www.visualcapitalist.com/coinbase-experiences-brisk-user-growth-ahead-of-ipo/

Things are going well for Coinbase. Personally, I like to see Coinbase growing, because Binance is very agressively expanding and dominating cryptocurrency markets

Binance has already 50% of total exchange volume. This is crazy, and I am happy Coinbase is expanding, and I hope others do the same.

Exchange centralization is not good for anyone, except for binance.

I hope this IPO will bring more transparency and better services (like customer support) to coinbase, and also allowing it to expand to new countries to face binance domination.

Topic: Coinbase reported significant user growth before IPO - page 2. (Read 165 times)