Coinbase

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Coinbase
Headquarters San Francisco, California, United States
Website Official website
Launched June 20, 2012

Coinbase is a Bitcoin startup company headquartered in San Francisco California. Users of Coinbase can buy and sell bitcoins for US dollars at the current market rate using their United States bank account. The company also offers an online "wallet" service for storing, sending, and receiving bitcoins, merchant services that enable businesses to accept bitcoin payments online, and fee-free micropayments between Coinbase accounts.[1]

In December 2013, Coinbase received a US$25 million investment, the largest ever for a Bitcoin company, from the prominent Silicon Valley venture capital firm Andreessen Horowitz.[2] On December 15th, it was named as one of the Hottest Startups of 2013 by Forbes.[3] Coinbase has been called the PayPal of Bitcoin, because it aims to make it easier for non-technical users to send and receive payments.[4] Jeff John Roberts at Bloomberg Businessweek wrote that using Coinbase was the "easiest on-ramp to the Bitcoin world", but also noted he had to provide bank details, setup two-factor authentication on a mobile phone and wait three days."[5] It has been noted for being one of the more professional and stable bitcoin exchanges,[6] although it has been heavily criticized by users for canceled and delayed orders and unresponsive customer support.[citation needed]

As of May 2013 Coinbase services more than $15 million in bitcoin transactions per month,[7] and currently facilitates bitcoin payments for Overstock.com, the largest online retailer to accept the digital currency.[8] As of December 2013, Coinbase had over 650,000 users and 16,000 merchant accounts.[2][9]

References

  1. ↑ David Meyer (8/6/2013). "Can Bitcoin enable the fabled micropayments revolution? Coinbase thinks it’s worth a shot". GigaOM.
  2. ↑ 2.0 2.1 Alex Williams (12 December 2013). "Coinbase Raises $25M Led By Andreessen Horowitz To Build Its Bitcoin Wallet And Merchant Services". TechCrunch. Retrieved 13 December 2013. 
  3. ↑ Robehmed, Natalie. "Hottest Startups of 2013", Forbes, 16 December 2013.
  4. ↑ Tricia Duryee (6/29/2012). "Betting on Bitcoin: Coinbase Wants to Be the PayPal of Internet-Only Currency". All Things Digital.
  5. ↑ Jeff John Roberts (7/18/2013). "Bitcoin's Open-Air Trading Floor". Bloomberg Businessweek.
  6. ↑ Alexia Tsotsis (5/27/2013). "Coinbase Leads Charge In Bitcoin’s Consumerization". TechCrunch.
  7. ↑ (5/26/2013). "Coinbase Now Processing $15M Per Month in Bitcoin Buys and Sells."
  8. ↑ "Overstock.com Partners With Coinbase And Starts Accepting Bitcoins As Payment". TechCrunch. 2013-12-21. Retrieved 2014-01-10. 
  9. ↑ Nermin Hajdarbegovic (2013-12-19). "Coinbase Passes 650,000 Users in Less Than a Year". Coindesk.com. Retrieved 2014-01-10. 
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