As many other recent IPO, this valuation is just out of this world.
Also, Coinbase is not the only player in the space.
Many also use Binance.us; it offers stacking, cheaper fees and usually lists more alt coins.
I must admin that I bought my first cryptos on Coinbase but soon realized how expensive it was and looked for alternatives.
I don't understand what is so unique about Coinbase
and why this insane valuation. I am skeptical and not
going to buy, at least not at this price.
Long term I expect exchanges to having to drop fees like stock exchanges. At that point, unless they can offer juicy interests rates like Celsius, how would they make money ?
I trust Coinbase a lot more than Binance. Their fees on the Coinbase Pro exchange are actually more reasonable than the simple user facing app Coinbase app that they push. Especially once you start reaching certain volumes (above 50M$), their fees for market makers drop to 0%. So those heavy traders aren't affected by fees.
And they are very well integrated and trusted within the US financial system.
I must admin that I bought my first cryptos on Coinbase but soon realized how expensive it was and looked for alternatives.
I don't understand what is so unique about Coinbase and why this insane valuation. I am skeptical and not going to buy, at least not at this price.
Long term I expect exchanges to having to drop fees like stock exchanges. At that point, unless they can offer juicy interests rates like Celsius, how would they make money ?