Connect with us

Coinbase

Coinbase Starts Trending On App Store – Mainstream Interest Growing

Published

on

Following the surge in price over the past few weeks, interest in crypto and Bitcoin has undoubtedly risen. If you want to see some proof of this then look no further than the iOS App Store, which shows users what’s trending when they go on to the search tab of the app.

The reason we’re mentioning this is because today saw Coinbase on trending for apps downloaded which is a great sign for future adoption.

Now granted, these things have a tendency to change all the time but the fact that Coinbase was on trending alongside HBO, YouTube and Fortnite speaks wonders for adoption.

The Rise of Crypto

The rise in the price of cryptocurrencies has been often accompanied by an increase of general interest by big institutional investors. At the end of 2017, we saw a lot more people enter the market who probably never had even heard of cryptocurrency and get involved with the space.

The market has had an exciting few weeks too with a lot of cryptocurrencies surging in value. Especially Bitcoin which has made enough gains to breach the $8k key resistance level.

Coinbase & Tether

In other Coinbase related news, we recently saw the exchange jump on the stablecoin bandwagon following the significant amount of controversy attacking Tether over the last month.

So basically, it looks like Coinbase doesn’t just want to replace Tether but it wants to take it out too.

This is a very bold move from the exchange and to be honest, the timing couldn’t be worse for Tether.

It’s like kicking a man when he’s down, as the new USD Coin is planned to be expanded in 85 countries

Coinbase is already a huge name in the industry, it is one that is well-funded and a well-respected brand throughout the space, so this is going to be a big hit for Tether.

The exchange noted:

“Unlike other cryptocurrencies, each USDC is backed by $1 USD with monthly transparency audits showing 100% USD backing. There are more than 300 million USD Coins in circulation today, supported by +100 ecosystem supporters. For these reasons, we see USDC as an important step towards a more open financial system.”

-News Source

Advertisement
Click to comment

Coinbase

Coinbase Commerce enables businesses to accept USD Coin [USDC] for payments

Published

on

Coinbase, one of the largest cryptocurrency exchange platforms in the U.S. in terms of users, announced that USD Coin could be used a mode of payment by businesses using Coinbase Commerce. The announcement was made on 20 May 2019 through their official Medium blog and stated that, “accepting” the stablecoin “gives our merchants many benefits of accepting cryptocurrency, but at a stable price.” Some of the plus points include no transaction fees, complete control of funds, and no chargebacks.

The platform announced on Twitter,“Starting today, businesses using Coinbase Commerce can now accept payments in USD Coin (USDC), a US dollar-backed stablecoin. Our merchants can now take advantage of the many benefits of accepting cryptocurrency but at a stable price.”

Further, the blog post stated that acceptance of the stablecoin would be as seamless as acceptance of cash for businesses. Additionally, this payment mode would not encounter the problems faced by credit card payments, considering it enables merchants to accept payments from customers anywhere in the world within minutes and without transaction fees.

Eliyahu Switzer, a Twitter user, said,“What are the benefits of accepting a centralized “cryptocurrency?”

That apart, CEO of Coinbase Custody, Sam McIngvale, revealed that Coinbase Custody was baking with delegated client funds since cycle 105. He stated that the firm had produced “over 100 blocks and captured a few steals too” so far, adding that their efficiency was more than a hundred percent.

@Stevenut, another Twitter user, commented,“Congratulations on making money with #tezos @CoinbaseCustody perhaps you might like to give something back and list #tezos so rest of us can benefit”

The announcement of Coinbase Custody providing institutional support for Tezos [XTZ] baking was made in March 2019. Offline staking support was extended to Tezos by the platform mainly because of its Delegated Proof-of-Stake architecture, along with high demand from the customers’ side.

Source/ambcrypto

Continue Reading

Coinbase

Worldwide crypto acceptance is within reach thanks to Coinbase Commerce’s USDC stablecoin integration

Published

on

Crypto as a method of payment has just gotten easier. Coinbase Commerce has expanded to include USD Coin as a settlement option, allowing merchants to accept crypto without transaction fees, chargebacks, or price volatility.

Coinbase Commerce, an app launched last year to facilitate merchant payments, now accepts Coinbase’s native USD Coin(USDC). The stablecoin was the result of a partnership between Circle and Coinbase in October of 2018.

The update represents a stride for crypto as a medium-of-exchange. Bitcoin, as the pioneer cryptocurrency, has relatively high fees and long transaction confirmation times. Meanwhile, the fiat-backed USD Coin allows merchants to get the benefits of crypto without the drawbacks.

Additionally, payments conducted in USD Coin have zero transactions fees and do not expose merchants to costly chargebacks. Unlike credit cards, merchants can accept USDC without a traditional bank account anywhere in the world.

Vendors have full custody over these funds and can accept payments directly to a wallet they control.

Stablecoin Integration

USDC is directly integrated into Coinbase and Coinbase Pro, allowing users to instantly convert between fiat and USD Coin. Coinbase Commerce is also integrated with other popular e-commerce platforms, such as Spotify and WooCommerce, making implementation within reach of hundreds of thousands of online merchants.

The move is another milestone for crypto as a method of payment. Previously, the cost or lack of interest caused merchants such as Steam and Twitch to reverse their decisions on accepting crypto.

However, the technology around payments improved drastically and projects such as Ethereum, Litecoin, Bitcoin Cash, and XRP are able to transmit payments via blockchain with much lower fees. As crypto as a mechanism of payment improves it is expected that adoption will follow.

-News Source

Continue Reading

Coinbase

Brian Armstrong: Institutions make up 60% of trading volume on Coinbase Pro

Published

on

Coinbase co-founder and CEO Brian Armstrong sat down with Fred Wilson, co-founder of Union Square ventures at Blockchain Week in New York. During the interview, Armstrong revealed institutional investors now make up 60% of all trading volume on Coinbase.

“90% of the money in the world is tied up in institutions, it’s not just retail. So we started to go talk to these potential customers.” Armstrong goes on, explaining they all had a different set of requirements, such as a qualified custodian, which didn’t exist at the time.

“As we’ve gotten going, institutions have become a bigger and bigger part of our business,” Armstrong says. “We’ve started to enable features like OTC trading through Coinbase custody where these large block trades are starting to happen. Institutions have become I think 60% of our trading volume on Coinbase Pro as well.”

So these are really key customer segments for us and we’re just going to keep investing more and more in it.”

Other more traditional firms like Fidelity have begun entering the market with plans to start Bitcoin trading for institutional investors. Additionally, Bakkt is set to launch in July with the aim of serving institutional investors while being fully regulated by the Commodities Futures Trading Commission, presenting some stiff competition for Coinbase.

Source.chepicap

Continue Reading
Advertisement
Advertisement
Open

Close