April 13, 2022 (Investorideas.com Newswire) Per a tradingplatforms.com analysis, Coinbase (NASDAQ: COIN) verified users have grown threefold in the last four years. Consequently, that number stands at about 90 million today.
Coinbase’s performance has attracted the attention of crypto market analysts. One of them is tradingplatforms.com’s Edith Reads. She avers that the exchange’s impressive run is a precursor to more growth in the future.
“Coinbase’s growth has been nothing short of explosive,” she said. “Reaching the 90 million verified users milestone is the culmination of a consistent pattern of growth for the company. It speaks volumes of the level of confidence that users have on the platform. One can only expect Coinbase to further grow its numbers as cryptocurrencies become more mainstream.”
So, why are Coinbase verified users growing?
Several factors explain Coinbase’s success. It was among the first platforms to offer an easy method for buying Bitcoin (BTC) with fiat currency (such as USD). This increased its accessibility since users didn’t require other cryptos before transacting.
Secondly, its website and app provide a simple and intuitive user experience. This feature takes the complexity out of crypto trading.
Moreover, it charges some of the lowest transaction fees. Thus it remains attractive to users keen on lowering their trading costs and supports the trading of over 100 digital assets in 100 plus countries.
Coinbase is also one of the most innovative companies in the field. It has been expanding its product portfolio consistently over the years.
Coinbase hasn’t had it easy despite its successes. In the past, it has experienced outages owing to increased traffic. That has inconvenienced users and left them dissatisfied with its services. Users have also complained of an unresponsive customer support team.
In October 2021, Coinbase acknowledged that hackers had exploited its 2-factor authentication system to access user accounts. Following that breach, up to 6,000 users lost their funds. The company accepted liability and committed to reimbursing them the lost funds.
The full story and statistics can be found here: The number of Coinbase verified users reaches 90M
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