Coinbase ‘Bitcoin McDonalds’ Passes 10mln Users, Trading Keeps Rising
Coinbase has 10 mln users for the first time as entry-level interest in Bitcoin continues.
Coinbase now counts 10 million users of its wallet and exchange service, as SegWit begins to make Bitcoin transactions accessible once more.
The latest information from Coinbase shows 800,000 new signups over the last three weeks of August, coinciding with Bitcoin reaching new all-time highs of almost $5000.
Despite the provider, which is the largest in the US, experiencing multiple technical problems in recent months, interest from base-level consumers continues to soar, earning it the informal title of the “McDonald’s of Bitcoin banking” on social media.
In July, Coinbase was registering even higher numbers - 100,000 over three days - while contending with overstretched technical and staff resources which resulted in transactions going missing and support requests going unanswered.
At the same time, the proportion of Bitcoin transactions using SegWit has passed one percent for the first time, an indication of fees reducing overall from highs seen in August.
Bitcoin’s mempool - the size of all unprocessed transactions combined - fell dramatically Aug. 29, and has remained a fraction of previous levels since.
Cryptocurrency trading meanwhile continued to reflect the level of international consumer interest last week, with Localbitcoins posting its second-highest volumes ever. These surpassed figures for the previous week ending Aug. 26.