Coinbase Praises Bitcoin, Says Nothing Can Compete With It

It’s been just revealed that Coinbase praised Bitcoin and said that there’s nothing that can compete with it. In a new blog post, the crypto exchange explained that Bitcoin is standing alone as a digital version of gold and other blockchains have gravitated towards becoming platforms for Dapps.

It’s also important to note the fact that the crypto exchange aims to refute some of the common criticisms against the king crypto.

“Proponents believe Bitcoin is in competition with Web 3.0 cryptos. It’s not. It is trying to be one thing above all else: digital gold.”

Coinbase also noted the following:

“Nearly every other actively developed cryptocurrency besides BTC has the same product vision as Ethereum: create a decentralized application platform, often called ‘Web 3.0.’ They are trying to build the next Internet, to enable ‘unstoppable apps,’ not build digital gold.”

Coinbase also made sure to explain the fact that altcoins are fighting each other for Web 3.0 dominance while BTC has seen zero competition since its inception.

“The realization that BTC has a fundamentally different goal from the web3 cryptos reveals a crucial point: Bitcoin has no meaningful competitors. The Web 3.0 crowd is scratching and clawing at each other, while literally no one else is trying to play BTC’s game…”

Coinbase also noted that for any competitors that do decide to challenge Bitcoin, they will have to overcome Bitcoin’s massive 13-year head start. Check out more available data about what Coinbase had to say in the exchange’s official blog post. 

Coinbase in the news

It’s been revealed that the US exchange Coinbase is launching support for non-fungible tokens in the browser wallet.

This new upgrade is about to roll out in a few days.

This will enable Coinbase Wallet customers to view NFT collections and access NFT marketplaces from the wallet’s browser extension, says a recent announcement from the crypto exchange.

We suggest that you check out more info about all this in our previous article. 

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.