Cryptocurrency is known as the digital asset designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger that exist within the form of a computerized database. Said differently, cryptocurrency is a new form of digital assets based on network that is distributed across computers. In addition to this decentralized structure allows them to exist outside of the control of governments and central authorities. Cryptocurrencies are supported by blockchains, which are organizational methods for ensuring the integrity of transactional data. Initially cryptocurrencies are systems that allow for the secure payments online. There are various types of cryptocurrencies. Bitcoin, Litecoin, Etherum, Maker, and Stellar are different cryptocurrencies.
Cryptocurrency investing is a great way to learn a new skill and build wealth. Coinbase is one of the most efficient cryptocurrency exchange for cryptocurrency investing. Coinbase was founded in 2012. Coinbase is licensed in 40 U.S. states and territories. With everything there is always pros and cons.
Pros of Coinbase
I. Variety of Choices- Coinbase currently offers 25 or more cryptocurrencies for investment, trading, and also staking.
II. High Liquidity- Coinbase holds prominence and ranks high in liquid exchanges. So this protects the investor from price decreases in a volatile market.
III. Simple interface- Coinbase is very easy to sign up for. It also had tutorial videos for account holders that show you how to navigate through the site, purchase, and trade currencies.
IV. Trading for Beginners- The Coinbase platform is tailored to the beginner. If you are new to trading and buying crypto then Coinbase can work for you. It functions as a crypto bank. The platform also can be used on Android and iOS devices. When you log in you will immediately be shown your portfolio balance and its performance in a selection of designated time frames.
Cons of Coinbase
I. High Fees- Coinbase does have high transfer fees. Additionally, new users that use the standard Coinbase platform will be subject to these fees unless they use Coinbase Pro. Coinbase Pro is free to switch to and has lower fees and more features that could be a bit overwhelming.
II. No Control of Wallet Keys- When a user purchases cryptocurrency on Coinbase it will be stored on the wallet that Coinbase will have control over it. The notion here is that the user does not have full autonomous control over their holdings. However, this can be avoided if the investor withdraws their currency to their own personal wallet, preferably a hard wallet.
III. Limited Altcoins-Coinbase does not have a large variety of altcoins on their platform yet. But the platform does plan on adding more. That is the great thing about Coinbase it always evolving.
Coinbase also allows users to earn cryptocurrency buy watching videos and taking quizzes. Once you complete this the cryptocurrency will appear in your portfolio. Use these links to earn cryptocurrency. I am providing my Coinbase referral links below.
COMP- This is a protocol running on Ethereum that lets individuals, developers, and applications earn interest on their crypto without relying on third parties. Compound also allows individuals borrow crypto via a series of interest rate markets.
Here is the referral link for COMP https://coinbase.com/earn/comp/invite/cnqw30fg
Stellar (XLM)- Stellar unites the world’s financial infrastructure so money can flow quickly and cheaply between banks, businesses, and people. The Stellar network has its own cryptocurrency, the Stellar Lumen. Lumens facilitate low-cost, universal payments on Stellar. For people sending money to family members overseas, Stellar offers a cheaper, faster alternative to traditional money transfer services. Stellar also allows banks, businesses, and people turn traditional assets, like dollars and euros, into tokens. These tokens can be transferred and exchanged with any other participant on the Stellar network. Digital assets on Stellar are protected by a decentralized global network of computers running Stellar’s open source software. These computers cooperate to confirm legitimate transactions and prevent malicious ones.
Here is my referral link https://coinbase.com/earn/xlm/invite/gfmd0j49
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