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Coinbase: Currency Exchange

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How Coinbase can help you live a better life
Coinbase is a method of digital currency exchange that deals with Bitcoin, Bitcoin cash, Ethereum and Litecoin in association with fiat currencies in about 32 countries and storage of Bitcoin transactions in 190 countries all across the world.
With 11.7 million users, Coinbase is the leading platform for exchange of Bitcoins.
Coinbase is one of the only platforms that has never been hacked.
This stands as a testimony for the security it provides and maintains.
Sub products of Coinbase
Coinbase consists of two sub-products that is ‘Global Digital Asset Exchange’ which is used on a professional trading platform for digital assets.
And, the second on is a user-facing retail broker for Bitcoins, Bitcoin …show more content…

The Bitcoins are directly deposited in the vaults and these vaults can be accessed using the secret password.

CEO of Coinbase says, “We set out to build a Bitcoin wallet, but it turns out we were building a retail exchange.”. The company actually started in the hopes of building an easy to use Bitcoin wallet. Because having a stock or an investment in Bitcoin is very good. The net worth of Bitcoin can go up or down anytime. Therefore, Coinbase looked forward to giving the customers an opportunity to convert their local currency in and out of Bitcoin. The CEO, Brian Armstrong says it is really important to have wallet and exchanges in the ecosystem (market). Because without an exchange conversion of money into and out of Bitcoin is very difficult. At the same time, without a wallet people can never start using low fraction Bitcoin.
Coinbase looks forward to adding more and more payment methods to allow the customers to change the money into and out of the digital form. Coinbase works with the government, organizations, regulators and banks. They are completely trustworthy.
Brian Armstrong also says, the company aims to provide its customers with “economic …show more content…

There are many advantages to having “economic freedom”. Some of the most obvious advantages being less corruption and bribery because money is getting converted into the digital form.
Other major advantage to having economic freedom is ‘better income for the poorest 10%’.
Another advantage of economic freedom is that it promotes free trade and globalization.

The user has the provision to create any of the three types of wallets:
1. Coinbase Wallet : Here the company has complete control and protection of your Bitcoins. The only responsibility of the user is to keep intact his Coinbase username and password credentials.
The user will have to move the bitcoins into the wallet after purchasing it
2. Coinbase Vault : This is one of the most secure and unique methods for storing large amount of bitcoins. The Bitcoins stored in this vault can be approved by multiple approvers. So when the user wants to make any transaction in his account, say withdrawal, then the approvers must approve the action by the user for further process. This vault also has the feature of multiple users using a single vault. The user count is limited to five users using a single vault.
3. Coinbase Multisign Vault: This vault is a two of three wallets where in the Coinbase holds a

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