What is Coinbase & how does it work?

Here’s a quick explanation: Coinbase is an app that lets you buy and sell all sorts of cryptocurrencies, like bitcoin, ethereum, litecoin and about 50 others. You can also use Coinbase to convert one cryptocurrency to another, or to send and receive cryptocurrency to and from other people.

What Cryptos are available on Coinbase?

Some of the popular cryptos on Coinbase are: On February 20, 2023, the Coinbase Wallet stopped supporting BCH, ETC, XLM, and XRP because of low usage. However, users interested in investing in these coins can still trade them on the Coinbase exchange.

What is Coinbase's NFT marketplace?

Coinbase launched its NFT marketplace on May 4, 2022, allowing users to buy, sell and collect NFTs on its Ethereum-based platform and aims to build an active community of buyers and sellers. Some of the NFT collectibles available are Bored Ape Yacht Club and CryptoPunks, as seen in Coinbase's Trending section.

Can Coinbase expand into a largely untapped market?

The NFA approval, which came nearly two years after Coinbase filed its application, could allow the company to expand into a largely untapped market. The global derivatives market represents almost 80% of the entire crypto market, with leveraged bets on futures and other derivatives often at the root of volatility in the wider market.