Coinbase is a digital currency exchange headquartered in San Francisco, California. It operates exchanges of Bitcoin (outside Japan), Bitcoin Cash, Ethereum and other digital currencies with fiat currencies in 32 countries.
The history of Coinbase begins with a start-up founded in 2012 by Brian Armstrong and Fred Ehrsam. The company has grown to provide service across North America, Europe, the Middle East, Africa and parts of Asia through the use of 13 different languages by customer support staffs. In 2017 alone, Coinbase saw an increase from 1 million to more than 20 million global customers and traded more than $150 billion worth of cryptocurrencies.
The company has recently transitioned from a Bitcoin exchange to include Ethereum and Bitcoin Cash trading, with more fiat currencies to come including other cryptocurrencies such as Litecoin, Ripple and Cardano.
Coinbase Stock Price Prediction
Coinbase has more than tripled its customers and trading volume in 2017 alone, and the company is on track to generate $1 Billion in revenue this year. In December of 2017, Coinbase acquired Earn.com for $120 million.
The Earn platform allows users to earn digital currency by answering emails, completing tasks or by teaching new users how to use cryptocurrencies. It has been reported that Coinbase plans on rebranding the site under it’s name in early 2018 and will continue to develop it’s features as a path toward increasing long-term growth in the future.
Coinbase has placed itself in a great position to increase its user base and revenue throughout 2018 as it continues to expand on its user base through marketing campaigns, including the launch of apps across different platforms such as Android and iOS. The company worked with Earn in January of this year to introduce a debit card linked to cryptocurrencies accepted by many countries. The card enables users to spend cryptocurrencies anywhere that Visa cards are accepted.
Why Is the Coinbase Stock Price Rising?
While the focus has been on the price of Bitcoin in 2017, Coinbase has been able to increase its user base through it’s ability to offer a large range of cryptocurrencies. In December of 2017 alone Coinbase saw a 400% increase in revenue from the prior year. The company also launched it’s first cryptocurrency hedge fund Bitcoin Opportunity Corp and has plans is to expand on this platform as well.
Coinbase is now also expanding onto other platforms, recently launching an Android app and mobile wallet solutions that have received positive reviews from users within the cryptocurrency community. In December of 2017, a survey conducted by Finder.com revealed that 65% of Coinbase users own cryptocurrencies and have been using the platform as a way to secure their portfolio.
Prediction For Coinbase Stock Price: Rally Presents New Selling Opportunities
Since the beginning of 2018, Coinbase has seen a large increase in number of users and trading volume. The company has announced plans to expand on its services through the purchase of Earn.com, the launch of an wallet app and plans to introduce Ripple and other cryptocurrencies as a viable investment option for both individual investors and institutions across the world.
As Coinbase continues its expansion into these new areas, I believe it is poised to become one of the largest digital asset exchanges in North America through it’s ability to provide investors with a wide range of options when it comes to securing their portfolio. My Coinbase stock price prediction is that the company will reach $2 Billion in revenue by the end of 2018.
What the Future Holds for Coinbase Stock Price:
Coinbase is still small compared to other exchanges like Binance, but the company has been able to grow its user base rapidly. With the recent launch of it’s wallets and debit card solutions,
Coinbase may be one of the most attractive investment options for institutional investors looking to gain exposure to the cryptocurrency market while receiving a guaranteed return on their investment. In addition, as Coinbase expands it services and products into new areas, I believe that the company will gain more and more attention from users as well as investors who are interested in gaining exposure through digital assets.
