Coinbase Is Still Adding 50,000 Users a Day Despite the Bear Market
Despite a massive bear market that has plagued crypto investors through the first 8 months of 2018, San Francisco-based Coinbase is reportedly still adding 50,000 new users to its platform every day.
— Coinbase (@coinbase) August 14, 2018
At the recent Bloomberg Players Technology Summit, CEO Brian Armstrong revealed that the company’s customers have traded $150 billion worth of cryptocurrency over the past year and growth has been steady despite an extremely turbulent market.
While he notes that investors tend to be all over the place in terms of expectations, Armstrong believes that around 10% of digital coins are used in real life.
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.
Coinbase is also making a push to bring on more institutional investors. The company recently dropped the annual management fee for its index fund from 2% to 1% for all new and existing investors.
Altogether, more than 20 million investors currently use the various Coinbase products to gain access to the world of digital assets.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.