Coinbase is the world’s largest exchange for cryptocurrencies and a top blockchain stock that deserves to be on our list.
When it comes to cryptocurrencies, it might make sense to beat the casino since the casino usually makes money no matter who wins. But investing in exchanges comes with some risks.
The recent mess with FTX filing for bankruptcy has sent shock waves through the cryptocurrency market. Exchanges like BlockFi, which worked with FTX a lot, are now doing the same thing. Recent events have shown how important it is for the industry to be open and trustworthy.
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Especially when it comes to crypto exchanges that hold the assets of their customers. Even though there are regulations and risks, Coinbase could still be a good option for investors. Coin is a publicly traded company, which gives investors a lot of information about the company.
The company’s financial statements are used to check their reserves. This helps protect investors from shady business like what we saw at FTX and Alameda.
The cryptocurrency exchange also offers a range of blockchain products. Some of these are a self-hosted wallet, an NFT marketplace, crypto credit cards, data marketplaces, solutions for institutions, and more.
Since its first day on the market, COIN has lost almost 87% of its value (IPO). But since May 2022, the price drop has slowed down and has been trading in a range. This could be a sign of a possible bottom, but we don’t know for sure yet.