Coinbase’s Pledge to Upgrade Economic Freedom

  • Coinbase has been on a mission to make crypto more accessible and user-friendly.
  • It was once suspected that insiders at Coinbase had traded on inside information.
  • Coinbase is moving forward with its plans to make cryptocurrencies more mainstream.

Updates from Coinbase, a cryptocurrency exchange, have stated that it would be expanding its services to allow more people to participate in the digital economy. Coinbase has been on a mission to make cryptocurrencies more accessible and user-friendly. Last year, the company launched Coinbase Commerce, which allows merchants to accept payments in digital currencies.

Last month followed with Coinbase announcing that it was launching a cryptocurrency index fund. The fund would track the prices of the top digital currencies, including Bitcoin, Ethereum, and Litecoin. Coinbase is also planning to launch an institutional-grade platform for trading cryptocurrencies.

“Our goal is to make it easy for institutional investors to participate in this new asset class,” Coinbase said in a blog post. “We are excited to continue our work towards building an open financial system for the world.”

However, an insider trading allegation highlights some problems with the company’s embrace of more volatile currencies. On December 20, 2017, when Bitcoin Cash was added to Coinbase’s platform, the price of the currency surged. Some people suspected that insiders at Coinbase had traded on inside information and profited from the price increase.

Coinbase denied the allegations and said that it had implemented “strict policies” to prevent insider trading. Nevertheless, the episode raised questions about the company’s ability to handle the volatile world of cryptocurrencies.

Coinbase has also been criticized for its lack of customer service. In November, when Bitcoin prices surged to nearly $20,000, the company’s website crashed. And many customers have complained about long wait times for customer service.

Despite these challenges, Coinbase appears to be moving forward with its plans to make cryptocurrencies more mainstream. And its pledge to bring “more economic freedom to the world” is likely to resonate with many people who are looking for alternatives to traditional financial systems.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer