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The point of coinbase is to be a normie-friendly, trusted onramp into crypto. It has tons of direct and indirect competitors, many of which will give you better
by opportune 6y ago
The point of coinbase is to be a normie-friendly, trusted onramp into crypto. It has tons of direct and indirect competitors, many of which will give you better rates or more variety, but none of which have managed to market themselves into the degree of "legitimacy" that people give Coinbase. It is an exceedingly boring business IMO.
- dleslie 6y agoYep, it's a centralized crypto bank. They welcome regulation, so their product can show its strengths.
- porknubbins 6y agoI think that Coinbase is kind of the Apple of crypto exchanges. Their trading UI is simplified and opinionated but by having reasonable settings is vastly better than everything else out there.
- anonymoushn 6y agoThey have a feature called "instant deposit" that's the default and takes like a week to settle deposits. If you instead use a (non-instant) wire transfer then your deposit will be settled the same day. They lack the ability to save destination addresses and hide the destination address while you input your 2FA code, so you can always enjoy wondering if you will actually get your crypto.
- smeej 6y agoWith the exception of the fact that Apple customer support is much more accessible than Coinbase's, which has pretty much always been its Achilles heel, it's a good comparison.
- smeej 6y agoKraken's dominance in Europe is the closest analogue, I think, and it's also an American company complying with American laws. If they ever sort out ACH and card payments for the U.S., I don't see what keeps them from taking a huge bite out of Coinbase's U.S. retail customer base.