As of June 2019, Coinbase had over 20 million users and $150 billion in assets on its platform. The vast majority of those assets are in the form of Bitcoin, Ethereum, and Litecoin.
As one of the most popular cryptocurrency exchanges, Coinbase allows users to buy, sell, and store digital assets.
Coinbase is a digital asset exchange company founded in 2012. The company is headquartered in San Francisco, California.
Coinbase allows clients to buy and sell digital currencies such as Bitcoin, Ethereum, and Litecoin. In addition to its primary function as an exchange, Coinbase also offers a wallet service for storing digital currencies.
Coinbase has been incredibly successful since its launch. The company has raised over $300 million from investors including Andreesen Horowitz, BBVA Ventures, and USAA.
In 2017, Coinbase was the highest grossing app on the Apple App Store.
Coinbase has been growing at an exponential rate since its inception. In 2013, the company had just over 1 million users. In 2014, that number grew to 3 million. In 2015, it grew to 6 million.
And in 2016, it exploded to 13 million users. 2017 was another banner year for the company with 20 million users.
The growth of Coinbase has been driven by the explosive growth of the cryptocurrency market. Cryptocurrencies have seen a tremendous increase in value over the last few years.
Bitcoin, the largest cryptocurrency by market capitalization, has gone from being worth less than $1,000 in 2013 to being worth over $10,000 in 2019. Ethereum, the second largest cryptocurrency by market capitalization, has seen even more growth with a price increase from less than $10 in 2014 to over $1,000 in 2019.
The tremendous growth of cryptocurrencies has led to an influx of new users onto Coinbase. Many people who are new to the world of cryptocurrencies use Coinbase as their entry point into the market.
Coinbase is simple to use and offers a variety of payment methods including credit cards and bank transfers. The company also offers a mobile app that makes it easy to buy and sell cryptocurrencies on the go.
The rapid growth of Coinbase has not been without its challenges. In 2017, the company experienced massive customer service problems due to the influx of new users onto its platform.
Many customers complained about long wait times for customer support and difficulty withdrawing funds from their accounts. Coinbase has since made significant improvements to its customer service operations but faces continued challenges as it scales its business.