Coinbase was founded in June 2012 by Brian Armstrong (CEO) and Fred Ehrsam. It enrolled in the 2012 Summer Y Combinator startup incubator program. In October 2012, the company launched a marketplace to buy and sell Bitcoin through bank transfers. Coinbase allows Bitcoin, Bitcoin Cash, Ethereum, and Litecoin trading on their platform. As of 2020, the company has more than 1,000 employees and more than 35 million users.
The company's platform offers various products to those looking to trade cryptocurrencies for individuals and businesses.
Its main product with the same name as the company is the platform where users can buy, sell, and use cryptocurrencies. Cryptocurrencies trading on the Coinbase platform include:
The wallet product that is used for storing cryptocurrencies. It also allows for transfers of cryptocurrencies between users.
Earn gives users the opportunity to educate themselves about cryptocurrencies through videos and quizzes. Users can receive crypto in their Coinbase wallet upon completion of the company's quizzes.
For advanced traders, Coinbase offers a Pro account that includes an API, insurance protection, and fees that scale to transaction volume. Most Coinbase accounts can be upgraded to a Pro account; however, some activities are limited based on the geographic area a user resides in.
- Commerce. A no-fee platform for business to accept cryptocurrencies as payments. It has integrations with popular e-commerce platforms Woocommerce and Shopify.
- Custody. Operating as a separate entity of Coinbase, the Custody services supports asset holding for institutional investors. It also integrates with Coinbase Pro. It is NYDFS-regulated.
- Ventures. Coinbase invests in startups and entrepreneurs, particularly those with a focus on stablecoin-based ideas for "the unbanked" as well as "wealth preservation, global payments, financial services for crypto companies, [and ]developer tools," among other areas of interest.
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