Not all cryptocurrency advocates are fans of the giant exchange platform Coinbase. But if feelings are kept aside in these cases, because it is clear that the platform is leading the cryptocurrency market into some of the richest hands the industry will ever know.
Tesla is just one of many to come to this industry
Between last year and this year, some of America's largest institutions have leveraged the exchange to help it buy cryptocurrencies. This was the case with Tesla. The platform's $ 1,5 billion purchase of Bitcoin was largely possible thanks to Coinbase's involvement.
We also reported some time ago that some of America's top universities, including Yale and Harvard, have made Coinbase their go-between, as they silently participate in the act of buying digital currencies in large numbers. Last month, the social investment app Invstr partnered with Coinbase to launch a trading feature that will allow US users to buy and sell digital currencies.
More recently, America's leading art auction house Sotheby's revealed that it will make a major entry into the cryptocurrency market through Coinbase. The art venue is set to launch a historic art auction in the coming week and will accept bidder payments in Bitcoin and Ethereum. This is the first time the company has accepted cryptocurrencies, as it explains that its previous work of art saw over 3.000 bidders, forcing the platform to consider an alternative payment method: digital currency.
Because Coinbase's relevance in the Crypto sector is unmatched
The case of Sotheby's choosing Coinbase to act as an intermediary is a unique case. If Coinbase hadn't established itself as a home to institutional platforms of many kinds, opportunities like these could have easily escaped the industry network.
While there are many other reputable exchanges in the US, Coinbase is one of the few in terms of popularity and diversity of services. This gives the platform an edge over the others and places it in a favorable position for the cryptocurrency community. This is because it is likely to stand as one of the top three platforms that fintech institutions interested in the cryptocurrency community could exploit.
It's safe to imply that Coinbase's market value is directly tied to its brand. Due to the way Coinbase has branded itself as a diversified platform, it's no surprise that it remains the top choice among investors. The result of this is largely reflected in its market value of nearly $ 100 billion.
And you invest in cryptocurrencies via Coinbase or simply prefer to trade them via automated trading platforms such as Bitcoin Pro? In any case, this sector has now exploded and its mass adoption is increasing day by day. Whatever way you wish to enter it, don't miss this opportunity.
