What is Coinbase? A thorough explanation of its relationship with Mr. Kitazawa and Mitsubishi UFJ, along with the advantages of using it, potential issues, and its reputation.
Ripple is likely to be listed on Coinbase, and the reason it draws attention is its high security, isn’t it?
Also, Coinbase has over 20 million customers worldwide, and simply being listed on this exchange can greatly boost cryptocurrency prices, as it is a highly likely exchange to rise.
In this article, we thoroughly introduce the following 10 items about Coinbase.
- Overview of Coinbase
- What Coinbase is / Features
- The relationship between Coinbase Pro and GDAX
- About the CEO of Coinbase Japan, Mr. Kitazawa
- Cryptocurrency coins handled by Coinbase
- Advantages of using Coinbase
- Problems with using Coinbase
- Relationship between Coinbase and Mitsubishi UFJ
- Coinbase's reputation
- Timeline for Coinbase's entry into Japan
Coinbase aims to enter Japan in 2019, but by reading to the end you can gain a deeper understanding of why Coinbase is attracting attention, so please read to the end.
What is the cryptocurrency exchange Coinbase? / Features
Coinbase, a cryptocurrency exchange, was established in June 2012 in San Francisco, USA.
Founders of Coinbase include Brian Armstrong, a former engineer at Airbnb, one of the world’s leading lodging services, and Fred Ehrsam, a former trader at Goldman Sachs.
Moreover, Coinbase is a private company that has attracted attention as a unicorn company and has successfully raised about $217 million (approximately 24.5 billion yen).
A unicorn company is an unlisted startup with a valuation of over $1 billion.
To become a unicorn, a company must meet the following four conditions; Facebook, Twitter, and Mercari are examples of unicorns.
- Founded within 10 years
- Valuation over $1 billion
- Unlisted
- Tech company
In Japan, in 2018,Preferred Networks, Inc.was the only company meeting these conditions.
Coinbase has strong annual performance, has many influential shareholders and investors, and has partnerships with the New York Stock Exchange parent company and Mitsubishi UFJ Financial Group, among others.
Also, Coinbase has over 20 million users worldwide.
Compared to Japan’s largest exchange, BitFlyer, which has about 2 million users, Coinbase operates on a much larger scale.
Furthermore, on some days there have been as many as 100,000 registrations in a single day.
Additionally, as of now (November 6, 2018), Coinbase operates in 32 countries around the world.
In October 2018, ICOrating.com, a major ICO rating site, surveyed 100 cryptocurrency exchanges with daily trading volumes exceeding 1 million dollars (about 110 million yen) for security measuresand Coinbase ranked first worldwide among major exchangesin terms of security among leading exchanges.
From these points, you can see why Coinbase continues to attract attention today.
Coinbase Pro and its relationship with GDAX
Coinbase Pro is one of Coinbase’s brands and was originally called GDAX.
As its name implies with the word Pro, it is a platform intended for experienced traders.
In other words, the relationship is: “Coinbase is the retail trading platform, Coinbase Pro is the exchange.”
