Is Coinbase Stock worth Buying as the Bitcoin Surge Continues?
Earlier this year, Coinbase, the US-based cryptocurrency exchange went public and its shares started trading on the Nasdaq under the ticker symbol COIN.
The event marked a milestone for the cryptocurrency world as it was the first time a pure-crypto company was listed on a US stock exchange.
This means that COIN is now available to be publicly traded, and such you can buy or sell its shares as you would any other company’s stock.
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The platform of choice for retail and institutional investors
For many crypto users, Coinbase is the go-to cryptocurrency exchange used for buying Bitcoin, Ethereum, and many other altcoins.
Coinbase receives billions of dollars worth of volume per day, meaning there’s more than enough liquidity for the average user to buy and sell their desired coins.
In fact, it was revealed that SpaceX and Tesla both used Coinbase to purchase large sums of Bitcoin, fully cementing the exchange’s reputation for being the go-to for individuals and institutions.
Facebook and Coinbase forge a crypto partnership
It was also revealed on Tuesday that Coinbase was selected to store Facebook’s cryptocurrencies for their recently announced digital wallet program called Novi.
For now, Novi will be a small pilot program in the US and Guatemala that will enable users to send and receive money abroad.
According to the statement, this process will be instant, secure, and free.
This has the potential to totally disrupt the remittance industry and so it’ll be interesting to see how popular the product will be in terms of adoption.
As always, time will tell.