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What does coinbase do?

godawgst
godawgst Member, Swaye's Wigwam Posts: 2,554 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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Comments

  • dirtysouwfdawg
    dirtysouwfdawg Member, Swaye's Wigwam Posts: 14,140 Swaye's Wigwam
    Trading platform for crypto. Bought the day it came out so we’ll see what happens.
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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,131 Standard Supporter
    It's essentially the NYSE or NASDAQ of crypto.

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  • Kaepsknee
    Kaepsknee Member Posts: 14,913
    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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  • dirtysouwfdawg
    dirtysouwfdawg Member, Swaye's Wigwam Posts: 14,140 Swaye's Wigwam
    Etoro - https://www.etoro.com/en-us/#

    Anyone played with this yet?
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  • BuffBuffPass
    BuffBuffPass Member Posts: 326
    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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  • Sources
    Sources Member, Swaye's Wigwam Posts: 4,347 Founders Club
    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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  • ntxduck
    ntxduck Member Posts: 6,145
    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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  • PurpleThrobber
    PurpleThrobber Member Posts: 48,131 Standard Supporter
    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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  • Baseman
    Baseman Member Posts: 12,369
    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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  • rodmansrage
    rodmansrage Member Posts: 6,379
    it doesnt have doogcoin available to sell so that site is fuckin worthless.


    hth.
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  • BennyBeaver
    BennyBeaver Member Posts: 13,346
    I’m shorting Doogcoin and going long on Boovcoin.

    @Babushka
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  • EsophagealFeces
    EsophagealFeces Member Posts: 13,169
    BennyBeaver said:

    I’m shorting Doogcoin and going long on Boovcoin.

    @Babushka

    Makes sense. BEAV sense!!1!!
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