Cryptocurrency trading has become hugely popular around the world, and Coinbase Global, Inc. operates a cryptocurrency exchange platform created to facilitate this ever-growing interest. Coinbase was founded in June 2012 in Wilmington, Delaware, by Brian Armstrong, a former Airbnb engineer, and Fred Ahrsam, a former Goldman Sachs trader. Coinbase provides cryptocurrency traders with a platform for buying, selling, transferring, and storing digital assets.
Coinbase reached 1 million users in 2014, acquired the blockchain explorer service Blockr, and launched more stringent security measures for bitcoin storage on their servers, including the vault system and bitcoin insurance. In the same year, the company also added bitcoin payment processing capabilities for online payment companies such as PayPal, Stripe, and Braintree. By year’s end, Coinbase Global, Inc. was incorporated as a holding company for Coinbase and its subsidiaries.
Coinbase’s product offerings are aimed at both retail and institutional cryptocurrency investors. These include retail investing apps Coinbase and Coinbase Wallet and investing platforms Coinbase Pro and Coinbase Prime. The company also offers payment services via Coinbase Commerce and issues a debit VISA card, Coinbase Card. Additionally, it develops an Application Programming Interface (API) to build applications in relation to digital currency payments.
Coinbase does not have a physical headquarters as it operates entirely remotely. As of 2021, it has almost 1,300 employees, and it is the largest cryptocurrency exchange in the United States by trading volume. Coinbase generates most of its revenue from retail transactional fees, followed by service fees, such as interest income, blockchain rewards, and custodial fees.
In April 2021, Coinbase went public by posting its shares on the NASDAQ exchange through a direct listing under the ticker ‘COIN’ instead of pursuing an IPO. Direct listing allows existing shareholders to start selling immediately at a market-driven price. Coinbase debuted at $323.28 per share, and reached a market capitalization of over $90 billion in 2021. Its major shareholders are institutional, including ARK, Vanguard, and Nikko.
If you want to buy Coinbase shares, you can log into your account on Saxo’s trading platform and search for the company with the ticker ‘COIN’. If you don’t have an account, you can create one by clicking here.
To check the current price of Coinbase shares, simply log in to your Saxo account and searching for the ticker ‘COIN’. You can then select the trade ticket and click the ‘I’ icon and ‘Trading Rates’ to see transaction costs. If you don’t have an account, you can click here to register for one.
To evaluate whether Coinbase is the right investment for you, you can log in to your account on Saxo’s trading platform to view the company’s financial reports and current and historical price charts. If don’t have an account, you can open one here.
Coinbase does not currently pay dividends to shareholders. This is typical of technology companies that prefer to reinvest their earnings back into the company to fund growth and expansion objectives.
If you want to see how Coinbase shares have performed historically, you can log in to your Saxo account to find detailed price charts and financial data. If you do not have an account, you can create one by clicking here.
