A Bitcoin wallet is a digital wallet that stores your Bitcoin balance and allows you to transact with other Bitcoin users. Coinbase is one of the most popular Bitcoin wallets, offering a user-friendly platform and a variety of features.
However, some users have raised concerns about Coinbase’s security and fees.
Coinbase is a digital asset exchange company headquartered in San Francisco, California. It operates exchanges of bitcoin, Ethereum and other digital assets with fiat currencies in 32 countries, and bitcoin transactions and storage in 190 countries worldwide.
Coinbase has been described as one of the most popular cryptocurrency exchanges online.
Coinbase was founded in June 2012 by Brian Armstrong and Fred Ehrsam. Armstrong is a former software engineer at Airbnb and Ehrsam is a former trader at Goldman Sachs. The company has raised $217 million in funding from investors including Andreessen Horowitz, Union Square Ventures (USV), DFJ Growth, Ribbit Capital, Accel Partners, IVP, Y Combinator Continuity, Greylock Partners and NYSE. In January 2015, Coinbase closed a $75 million Series C funding round led by DFJ Growth with participation from all previous investors.
In August 2017, they announced that they had raised $100 million in Series D funding at a $1.6 billion valuation led by Tiger Global Management with participation from NYSE, Andreessen Horowitz and Union Square Ventures.
Coinbase allows users to buy and sell digital currency using a variety of payment methods, including bank transfers, credit cards, debit cards, and PayPal. You can also use Coinbase to buy goods and services with Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Coinbase has been criticized for its high fees, slow customer service, and lack of transparency. In March 2018, Coinbase was accused of insider trading after it was revealed that the price of Ethereum Classic (ETC) rose sharply in the hours before Coinbase announced that it would add ETC to its platform.
Coinbase denied the allegation, saying that it “does not condone or allow insider trading on our platform.”.
In conclusion, Coinbase is a popular Bitcoin wallet that offers a user-friendly platform and a variety of features. However, some users have raised concerns about Coinbase’s security and fees.