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What does coinbase do?

godawgstgodawgst Member, Swaye's Wigwam Posts: 2,409
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Swaye's Wigwam
edited May 2022 in Tug Tavern
IPO'd last week, valuation is off the chart, but what does it do?

Is it a trading platform for all the diff. cryptocurrencies?

Would anyone buy it at this level?

Thanks
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    dirtysouwfdawgdirtysouwfdawg Member, Swaye's Wigwam Posts: 11,828
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    Swaye's Wigwam
    Trading platform for crypto. Bought the day it came out so we’ll see what happens.
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    PurpleThrobberPurpleThrobber Member Posts: 41,777
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    It's essentially the NYSE or NASDAQ of crypto.

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    KaepskneeKaepsknee Member Posts: 14,750
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    It seems that it’s ripe for competition as crypto gains in value and popularity. They don’t seem to have any magic bullets other than size and scope. If crypto continues it’s growth, then another entity will step up and create a race to the bottom in respect to fees and juice on trades. At least it seems that way anyhow.
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    dirtysouwfdawgdirtysouwfdawg Member, Swaye's Wigwam Posts: 11,828
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    Swaye's Wigwam
    Etoro - https://www.etoro.com/en-us/#

    Anyone played with this yet?
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    BuffBuffPassBuffBuffPass Member Posts: 322
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    Kaepsknee said:

    It seems that it’s ripe for competition as crypto gains in value and popularity. They don’t seem to have any magic bullets other than size and scope. If crypto continues it’s growth, then another entity will step up and create a race to the bottom in respect to fees and juice on trades. At least it seems that way anyhow.

    They've got other lines of business besides retail trading. They've been doing a lot of the big purchases for corps and they have custodial solutions, which will become more important over time. Still, you're better off just buying BTC or a company like MSTR who has massive BTC position.
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    SourcesSources Member, Swaye's Wigwam Posts: 3,803
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    Swaye's Wigwam
    edited April 2021
    COIN has really high transaction fees, so expect those to come down or for competition to undercut them to some extent. Most savvy cryptotraders don't use COIN, but the first mover advantage could be huge with how unsophisticated most new crypto investors are. Either way, I think the stock itself is overvalued for the time being and would recommend waiting to get in if you're interested.

    Edit: also worth noting that COIN doesn't support $DOOGC, which is a huge blunder IMO
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    ntxduckntxduck Member Posts: 5,513
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    Sources said:

    COIN has really high transaction fees, so expect those to come down or for competition to undercut them to some extent. Most savvy cryptotraders don't use COIN, but the first mover advantage could be huge with how unsophisticated most new crypto investors are. Either way, I think the stock itself is overvalued for the time being and would recommend waiting to get in if you're interested.

    Edit: also worth noting that COIN doesn't support $DOOGC, which is a huge blunder IMO

    Coinbase by far is the easiest to use in a space that is already very confusing to many. That’s why it has such huge market share, even with high fees.

    Until someone creates an easier to use platform with lower (or no) fees, they won’t need to reduce theirs. Eventually that will happen, but coinbase is already moving into other revenue areas in anticipation.
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    PurpleThrobberPurpleThrobber Member Posts: 41,777
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    Sources said:

    COIN has really high transaction fees, so expect those to come down or for competition to undercut them to some extent. Most savvy cryptotraders don't use COIN, but the first mover advantage could be huge with how unsophisticated most new crypto investors are. Either way, I think the stock itself is overvalued for the time being and would recommend waiting to get in if you're interested.

    Edit: also worth noting that COIN doesn't support $DOOGC, which is a huge blunder IMO

    Any experience with tZero?

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    BasemanBaseman Member Posts: 12,365
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    Coinbase Feedback: I took a small position on day 2, paying $323 per share.

    Downloaded the app and bought some bitcoin and Ethereum. I discovered a wide buy/sell spread. For example Bitcoin's spot price just before this post was $55,290. I immediately entered an order and was quoted $55,589.74 -- $300 more than the quoted spot price.





    After further digging Coinbase Pro allows you to enter limit orders. Input the price you're willing to pay and Coinbase fills your order only if the sell offer reaches your buy limit.

    Coinbase's GUI sucks and needs upgrading. I signed up for, and downloaded, Coinbase Pro and struggled inputting a limit buy order.

    Looks like Coinbase needs more tim to get their developers in there.
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    rodmansragerodmansrage Member Posts: 6,015
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    it doesnt have doogcoin available to sell so that site is fuckin worthless.


    hth.
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    BennyBeaverBennyBeaver Member Posts: 13,333
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    I’m shorting Doogcoin and going long on Boovcoin.

    @Babushka
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    EsophagealFecesEsophagealFeces Member, Swaye's Wigwam Posts: 11,450
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    Founders Club
    BennyBeaver said:

    I’m shorting Doogcoin and going long on Boovcoin.

    @Babushka

    Makes sense. BEAV sense!!1!!
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