3 ms·
Tangent: How did people hear about FTX? I've been interested in/holding crypto for a few years, and the big player was (and I assumed still is until recently) C
by the__alchemist 4y ago
Tangent: How did people hear about FTX? I've been interested in/holding crypto for a few years, and the big player was (and I assumed still is until recently) Coinbase, or Coinbase pro if you wanted better rates. There was bitcoin, Etherium, and some smaller coins like Bitcoin Cash, XRP, and Litecoin. I had a mix of coins, then rebased in ~2019 to a 50/50 Eth/Bitcoin split. As an alternative to Coinbase, you could use a hardware or paper wallet. How many people used FTX over Coinbase and wallets? What was the appeal?
- 55555 4y agoNo, Coinbase is not the big player for actual crypto to crypto trading pairs. That’s Binance. FTX was #2 on that list. Coinbase is the USA’s #1 fiat on-ramp. Fiat on-ramps are a different category. You are an investor. The people using Binance and FTX are traders. Traders are looking for exotic pairs, more leverage, more derivatives, and lower fees. Whether or not Coinbase is even a tenable business long-term is actually a legitimate question given that there’s no big profits to be made as a fiat on-ramp —- everyone assumes they’ll profit like a major trading platform but they are hindered by being legal.
- imtringued 4y agoIt doesn't look like they are being hindered.
- 55555 4y agohttps://www.boerse-frankfurt.de/bond/usu19328aa89-coinbase-global-inc-3-375-21-28 https://www.boerse-frankfurt.de/bond/usu19328aa89-coinbase-g...