Brian Armstrong Reveals Coinbase Is Registering 50,000 Users Per Day Amid Bear Market
One of the most famous and important cryptocurrency platforms, Coinbase Inc., is registering up to 50,000 new customers per day. This is a very important number considering that we are in a bear market since the beginning of the year. The information has been released by Coinbase’s Chief Executive Officer during a conversation with Bloomberg on Tuesday August 14.
About that, Amstrong commented:
“This technology is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau. People’s expectations are all over the map, but real-world adoption has been going up.”
During the last year, Coinbase’s customers were able to trade over $150 billion dollars worth of cryptocurrencies, helping investors have contact with these assets. At the moment, Coinbase is one of the most important platforms to trade virtual currencies offering Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum (ETH) and Ethereum Classic (ETC).
At the same time, he said that just 10% of the digital currencies are used in real life such as games or other purchases online. He believes that virtual currencies will take some time before it would be possible to pay with them in everyday payments.
The San Francisco-based company continues to grow. At the moment, Coinbase has over 1,000 employees and 33% of them are women.
At the end of 2017, most of the virtual currency exchanges in the market were receiving an important influx of new users. And indeed, Coinbase had problems with its platform and its customer support.
The cryptocurrency market has been in a bear trend since the beginning of the year, and on August 14, it reached the lowest point since November 2017. Now, the total market capitalization has recovered above $200 billion dollars.