Coinbase Trade Done Transactions of over $200 Million
Coinbase which is a leading crypto exchange and a retail payment portal has recently passed $200 million in retail transactions. This amount is a total of a two-year history of the portal.
Through reports, it has been revealed that this huge success of the exchange is due to the huge number of retailers on exchange. There are a total 8,000 retailers who are actively using the exchange for different payment services.
Coinbase consumers are comfortable using Bitcoin for paymentThe whole financial market is crashing and the global economy is going through a very bad phase due to the coronavirus pandemic. Amid all this, it seems that bitcoin is emerging up as an ultimate solution for different payment needs. This has also been reported by Coinbase that most of the customers are still using bitcoin as a payment method.
One of the product leads at Coinbase, John Zettler has said bitcoin is emerging as the most preferred method of payment across the whole crypto market.
Even though there is huge volatility in the crypto market, through this report by Coinbase it is quite clear that people are still trusting bitcoin.
Stablecoin also gained huge benefits just after the market crashWhile people were losing hopes due to the market crash, stablecoin emerged as the one gaining some huge benefits. Just a day after the market crash, the stablecoin value went up to $444 million which is an all-time high in its price. The USD coin (USDC) of Coinbase gained huge benefits and it has seen an increase of 57% right after the market crash. Through this increase it is quite evident that crypto holders have started using USDC to preserve capital.
Coinbase exchange is supporting both USDC and other stablecoins for various crypto purchases and payments. It has also added MakerDAO’s DAI stablecoin to its platform. These will also be used as a payment method among others.
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About The Author
Vandana MalikI have received my Master of Arts degree in English from GEHU, Dehradun. Currently working as a content writer with Agio Support Solutions and earlier worked as a news editor at Business News and Information Services Private Limited. An enthusiastic content writer, aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing my own knowledge as well.
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