Cryptocurrency Definitions: Coinbase

Cryptocurrency Definitions: Coinbase

Coinbase is a cryptocurrency broker founded in 2012 that provides a platform for individuals to buy and sell bitcoin, ethereum, and litecoin with fiat money. In addition to its primary operation as a broker, Coinbase is also a bitcoin exchange and wallet provider. The platform was first launched as a digital wallet for users to store their bitcoins online, before venturing into the brokerage space where users can buy and sell bitcoins. As of 2017, Coinbase is the largest cryptocurrency broker in the world and serves users in 33 countries.

The GDAX cryptocurrency exchange is hooked up to Coinbase, which you need an account with in order to access the exchange. If you open an account at Coinbase, GDAX is the software that the cryptocurrencies trade in. Coinbase can be hooked up to your bank accounts making fund transfers smooth. The broker has different wallet categories allowing quick and easy transfers of United States Dollars from your bank account or to other exchanges. You also have the option to transfer cryptocurrency such as ETH or BTC. Most traders use Coinbase as a central hub to deposit money.

Coinbase provides a mobile wallet and web wallet app, both of which sync with each other. By having a wallet and exchange in the same place, its users can conveniently transfer cryptocurrencies between both platforms, which are initiated instantly and with no additional cost to the user.

Cryptocurrencies are an incredible new and exciting frontier in the financial markets. To prepare yourself to capitalize on this exciting new opportunity, check out our Cryptocurrency Trading Chatroom.

Bulls on Crypto Street is a trading education website dedicated to cryptocurrencies. We teach strategies for swing and day trading cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and other Altcoins. We're at the forefront of this industry and are continuously providing up to date information on each coin, regulations, news, token sales, and much more.

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