[2019-07-17] Coinbase Announces Three Data-Based Trading Signals for Users

[mich]

Coinbase Announces Three Data-Based Trading Signals for Users

https://cointelegraph.com/news/coinbase-announces-three-data-based-trading-signals-for-users

American cryptocurrency exchange and wallet service Coinbase announced that it has released aggregated data in the form of three trading signals to its customers. Coinbase announced the new offerings in an official blog post on July 17.

The three trading signals that are being offered are top holder activity, typical hold time and popularity, and price correlation. The purported aim of each of these offerings is to allow investors to create more informed trading strategies, by means of insights that go beyond raw price metrics.

The typical hold time signal, for instance, tracks the median number of days that a given asset is held before it is moved via a new transaction. Asset popularity, in the same category, tracks how many users hold a given cryptocurrency. These metrics purport to allow investors to better understand user behavior, in an aggregate and anonymous form.

According to the announcement, these new insights are “the first of their kind in crypto.” Coinbase also notes that the metrics will be offered alongside traditional market data, which it has already been providing.

As previously reported by Cointelegraph, Coinbase released a report on digital currency adoption and awareness trends in the U.S. on June 28. Coinbase drew on data from a survey that collected responses from 2,000 participants this year. Of those surveyed, 58% of Americans said that they had heard of Bitcoin.

[buwaytress]

I saw the whole slew of Forbes/FT etc. push out this news this morning/late last night but I feel like I'm really missing the point here.

What's special about this service, other than sure, it's another set of metrics to keep track of. Even if it does work, it'll only be because of coincidence (we happen to be about to embark on a steady uptrend), so there's going to be a lot of correlation in that. I can't coinbase so can't see how snazzy it looks. Care to share anyone?

[hugeblack]

The more companies want to collect data the greater ability to gain trust in new consumers.
I expect it will represent a new system as banks do, providing you with the game of the security side in exchange for a fixed annual rate.
Deposit 1BTC ----> follow the instructions provided by the platform ----> earn 5% per annum.
Many people trust & buy Shitcoins just because of Binance or coinbase accepted them.

[BitHodler]

These are not the first signals.

They may not be the first 'signals', but they are the first compliant exchange that provides users extra metrics that might help them make a more informed decision as pointed out in the article. Pretty neat I would say.

In addition, Coinbase is not the exchange that you can trust .

I'll point out first that people shouldn't trust any exchange, but when it comes to reputation and compliance, Coinbase is definitely the least risky exchange to use for buying and selling crypto currencies.

Coinbase's disadvantages are that they may terminate your account if you withdraw funds to services their banking partner doesn't approve, and the fact that their fees are pretty steep, which is why a lot switched to their Pro platform.