Coinbase is a platform for storing, buying and selling cryptocurrency. They offer a ‘one stop shop’, acting as a wallet and an exchange, plus providing a multitude of trading tools and resources.
So, with over 10 million customers and $6 billion worth of exchanged digital currency, let’s explore why day trading on Coinbase has become so popular.
Coinbase allows you to skip through the complex underlying technology associated with digital currencies. You don’t need an in-depth understanding of blockchain technology, or to hold a long-term view as to the success of currencies like Bitcoin.
You also benefit from strong insurance protection. Because Coinbase holds all fiat currency in a USD wallet, it is covered by FDIC insurance. Cover extends to $250,000. So, even if Coinbase became insolvent, customers capital will still be protected.