I have always been a firm believer of continuous learning. Whether it is something that you agree with, support, or just the opposite, the lessons are aways available. Exchange Series - 1 of 7 Coinbase.
What is Coinbase?
In an ever growing crypto landscape, exchanges seem to appear everywhere. I'm sure the list is not exhaustive, but it sure seems that way. Coinbase is a centralized exchange that is ubiquitous with BTC in the U.S.
What I have noticed is that Coinbase is a very polarizing name when it comes to this space. I have seen all out Twitter battles ensure because someone talks about Coinbase. Others are really simple such as;
I look forward to the comments that come from even just this initial part of the article. It seems that every time Coinbase is mentioned that a slough of comments comes that take shots at its existence.
Why is that?
Let's Look a Little Deeper
I tend to think about any issue as a window. You can look through one side or the other. It is still a window, yet the view is very different from either side.
For starters, in my experience it seems that the initial blush on Coinbase is negative. I'm not sure if it comes from history of the founders, the fact that it's an exchange, or even that it's predominantly focused in the U.S. where there's still much to be discovered in crypto regulation.
The other side of this is that the review trend data has stayed relatively consistent.
If you like reviews done by 99Bitcoins, here's a 2 minute video that touches on the subject quite well. The host claims that he has been a user since 2013 and talks about the good and the bad.
Again, the opinions and perspectives vary as much as the number of mosquitos you will find near a body of water. Depends on the wind, sun and time of day. In TrustRadius you will find a mix of reviews that are good, bad and similar to the one below (middle of the road).
Having a healthy bit of skepticism about anything is normal. It's the human condition to just make sure we don't become the next meal for that saber toothed beast just around the corner.
When it comes to Coinbase, I think every service and solution has its place. Having been a user for several years, I see a lot of utility in the service. I also see a lot cautions as well. Candidly those are similar for any exchange.
- Easy set-up and fast purchase of major cryptocurrencies. Can be completed in just a few minutes.
- Desktop and mobile applications for Android and iOS.
- Coinbase App & Coinbase wallet applications easily sync.
- Use of WalletConnect to broaden connectivity
- Easy Training Opportunities in App that pay in cryptocurrencies including XLM, EOS and Compound.
- Fees can be higher if user is not observant.
- Prices have appeared higher at times compared to other exchanges.
- Questions about use of user activity data still persist.
- Trust in leadership of Coinbase from previous work experiences could be an issue.
Overall, I see a place for Coinbase to be a part of anyone's activity. That doesn't mean that it is central or absolutely necessary to what someone in the crypto universe needs.
The places where it can be best used are unique and specific and align with each personal strategy.
NOTE: Thanks for taking a moment to read the day 1 series on Coinbase. Hope it has been helpful in looking through a different side of the window.
In regards to the training available in Coinbase here's at least two of the opportunities I mentioned.
Available to the first 4 people who use each of these links.
1. XLM gift You can be a new or existing Coinbase user. You’ll earn up to $40 XLM
2. EOS gift You can be a new or existing Coinbase user. You’ll earn up to $40 EOS
ONE MORE THING- As we are testing out different engagement with articles, I encourage you to leave a comment rather than a thumbs up or especially a thumbs down. I would expect this article strikes a nerve with those who are not a fan of Coinbase.
Maybe consider the thumbs up or thumbs down as comment on the article itself not necessarily your views of Coinbase. Just my humble request. Thank you again.