Coinbase Says It Was Signing Up 50,000 Users On A Daily Basis In 2017 – The Exchange Helped Customers Trade $150 Billion Worth Of Crypto
Coinbase is one of the world’s largest crypto exchanges, and it claims to have been signing up 50,000 new customers on a daily basis back in 2017.
This is what Chief Executive Officer Brian Armstrong said at the Bloomberg Players Technology Summit in San Francisco.
There are a lot of enthusiasts who are attracted to crypto, especially during the price run-up that took place last year, but many of them haven’t made money.
Coinbase helped customers trade $150 billion worth of crypto in 2017
Bitcoin’s price of about $6,120 price is now up almost 70% off its December high, and the majority of coins are also currently declining.
Coinbase Custody is exploring the addition of many existing and forthcoming crypto assets for storage only, and will be working to add them as quickly and safely as possible. At this time, we have not yet considered these assets for trading.
— Coinbase Custody (@CoinbaseCustody) August 3, 2018
“This technology is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau,” Armstrong said Tuesday via Bloomberg.
“People’s expectations are all over the map, but real-world adoption has been going up,” he continued.
It seems that Coinbase helped customers trade about $150 billion worth of crypto over the past year.
10% of crypto is used in real life
Armstrong did not say how the company’s current rate of new customers compared with a year ago, but he estimated that about 10% of digital coins are already being used in real life in purchases online such as games and more.
He said that there’s still some time left to wait until we can just cross the street to Starbucks in the U.S. and pay with crypto.
"Many women in developing worlds have never been in charge of anything in their lives. With crypto, a girl can be in charge of something very important: her finances. It's empowering." @f_forough, founder of @CodeToInspire. Read her story here: https://t.co/tBQ7WI7rWa
— Coinbase (@coinbase) August 9, 2018
Other than this, Coinbase continues to grow slowly but steadily, and now the company boasts 1,000 employees and one-third of them and also a third of the company’s leadership team are women.
Armstrong concluded by saying that it’s currently getting harder to remain a crypto skeptic these days considering what’s happening all around the cryptospehere and all the latest crypto related developments and how great and fast things are evolving.
Brian Armstrong is the co-founder and CEO of Coinbase, one of the largest crypto exchanges in the world (its reported Coinbase holds 966,230 Bitcoin ($7B) in Cold Wallet). Prior to his involvement with the blockchain and Coinbase, Armstrong worked at Deloitte and Touche as an Enterprise Risk Management Consultant.
Coinbase is a digital currency exchange headquartered in San Francisco, California.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.