Coin base is one of the prime exchanges when it comes to cryptocurrency trading. It is one of the largest exchanges for Ethereum as well as Bitcoin.
Now, as more and more off-line businesses also try their hand at making cryptocurrency exchanges, the challenges for the traditional cryptocurrency exchanges are increasing. One such exchange which is trying to garner market share when it comes to Ethereum and Bitcoin trading is Robin Hood. It will allow the trading of Bitcoin as well as Ethereum from February this year. It also plans on adding more cryptocurrencies at a later date.
Originally published in January 2018
Also, it currently provides a trading application which does not charge any fee. It has been providing this application since 2015. This is one of the main reasons why most of the cryptocurrency investors are excited about this new age progress trying to provide cryptocurrency services as well.
Many of the cryptocurrency investors think that the no commission trading offer would extend to cryptocurrencies as well. However, if that does it would pull out the customers from the cryptocurrency exchanges which are currently charging money. This is one of the main reasons why people are worried about the exchanges which charge a hefty fee currently.
According to a spokesman of Coinbase, TransitNet would be able to capture some of the market share but that would be only among the small retail investors. Most of the larger investors would remain with Bitcoin.
Coin base has a huge operation and allows citizens of various countries to invest in cryptocurrencies. Moreover, the total user base is around 13 million. Owing to this very reason, not a lot of loss of customers is expected for coin base. However, competition is surely heating up in the cryptocurrency space.
In the future, you can be sure that more and more brokerages would try out cryptocurrency trading as well. This is one of the main reasons why it is the time that the traditional…