Buy
Coinbase (COIN) stock is currently trading at $195.43, showing a decline of 7.82% in the last 24 hours. The stock opened at $205.64 and dropped to a low of $192.30. Trading volume of $14,428,628.50 suggests significant selling pressure.
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.
With its shares debuting at $381 on the Nasdaq stock exchange under the ticker symbol COIN in 2021, the US cryptocurrency exchange Coinbase became a publicly traded company. Coinbase is the first pure-play cryptocurrency trading company to list on a U.S. exchange, which represents a significant development in the world of cryptocurrencies.
Since its IPO, the share price of COIN has been trending downward, and cryptocurrency has recently taken a beating. Still, among bitcoin exchanges, Coinbase stands out.
Coinbase is an esteemed and illustrious cryptocurrency exchange founded in the year 2012 with the aim of trading Bitcoin. However, with time Coinbase exchange expanded to selling, buying, and trading over 200 cryptocurrencies and adding new tradable coins on a quotidian basis.
The crypto trading platform now empowers more than 108 million seasoned and novice investors to earn by investing in cryptocurrencies, including BTC, ETH, LTC, DOGE, and so on. It is now operating in more than 100 countries, holding approximately $80 billion in assets.
The Coinbase platform is preferred by beginners or novice investors, the new entrants in the cryptocurrency marketspace for straightforward buying and selling orders. Moreover, the company started moving more sophisticated Coinbase Pro accounts or the seasoned investors to a new and advanced platform named “Advanced Trading” in November 2022.
Significantly, 98% of customer assets are kept in offline cold storage which is a global network of safe deposit boxes, backed up both electronically and physically.
On its website, it employs security and encryption that meet bank standards. All accounts must also employ two-factor authentication, which helps prevent unauthorized users from accessing your account unless they physically access your phone.
The distinction of Coinbase stock is that the viability of your investment depends on the acceptance and volume of cryptocurrencies. Investors can gain exposure to the cryptocurrency industry through cryptocurrency stocks without making a direct investment in cryptocurrencies.
When you invest in a business, you are expressing your trust in the organization as a whole while also expressing your expectation that demand for its goods or services will increase. Do you think cryptocurrencies like Bitcoin, Ethereum, Litecoin and the hundreds of other altcoins that you can trade on Coinbase have a future or it is just a fad?
Coinbase has received an average rating of Hold. The average rating score of the company is 2.17, and is based on 9 buy ratings given by the analysts, 10 hold ratings, and 5 sell recommendations.
On November 9, 2021, the closing price of Coinbase Global stock reached an all-time high of USD 357.39. The 52-week high stock price for Coinbase is USD 206.79, which is 220.8% more than the current share price. The 52-week low stock price for Coinbase is USD 31.55, which is 51.1% less than the current share price.
Within the extensive ecosystem of Coinbase, Futures are not presently supported. You can still buy Futures in a variety of ways.
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