Coinbase Aims to Take a Bigger Part of the Market to Itself
Coinbase seem to be the flagship of important changes to influence the future of the whole community and economics engaged in the crypto currency.
Observing the recent events and happenings in the field of bitcoins and the overall development of the environment Coinbase seem to be the flagship of important changes to influence the future of the whole community and economics engaged in the crypto currency. The CEO of the company Brian Armstrong is hardly to reach and speak to – his working load surpasses the ordinary working hours and there is a reason for it.
Nowadays his main aim is to make digital coins a much more popular currency. Coinbase is already one of the most progressive service considering bitcoin – currency can be bought with credit cards registered in the USA, keep them in wallets on the web, a smartphone app, share, send them via email with no additional problems, SMS coins to others users and many other futuristic stuff. Such new features as new and easy payment systems, as well as credit services, stock exchanges and many more attract more regular users who do not want to go that deep to understand and use such an archaic thing as a bitcoin key.
Coinbase gets inspired by the wishes of the users. They are free to express them and the developers just built upon the existing code new features and options. Still to sum up the preferences can divided in the three main development ways and goals set to be reached. Coionbase offers coin wallets, the exchange or simply the processes of selling and buying of the coins and merchant tools. For the every aspect of the business mentioned as fair competitor can be named, but everyone should remember that there is no other company that might offer all three features. Such a complete approach is not even noticed between the newcomers and startups – to dare such a move a market play should be experienced enough.
The Coinbase also allowed itself to offer a simplified approach to sending coins via email. Some experts believe that the company would like to become the Gmail service of the bitcoin world. As a very non-standard method of transfer and dealing not many users are ready to try it. Still for small transactions and the offer to pay no fees it might gain the required popularity.
For this process SMPT is used – it provides the basic functionality of the email, but adding it to the Gmail account more apps of this service might prove to be useful for bitcoiners.
Most of the transactions made by Coinbase are internal, up to 80%, for specials occasions the company has agreements with other popular exchange systems. The most safe and reliable among them is Tradehill.
Once again the main problems any bitcoin based company stumbles upon are regulations. The difference of law on the state level makes the process very complicated. Coinbase tries to acquire the most licenses and follow the most rules, but is not afraid to fail and miss something out. The history has shown that there are situations when a fee charged by the state administration is much more less than the profit gained on its territory. The policy of the company is to do first and then ask for allowance. Similar experienced Square by make far less than their profit, which also brought them the final allowance to start work in Florida and Illinois.
Considering all the plans of Coinbase can be concluded that the company is ready to become a pioneer in many aspects of the crypto currency market to set the way for followers.