Good news to crypto:Coinbase has passed 30million users this month

[hoaryal1]

Coinbase has passed 30million users this month
(adding 5million users in the last ~10 months)





Founded in June of 2012, Coinbase is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. We're based in San Francisco, California.

Bitcoin is the world's most widely used alternative currency with a total market cap of over $100 billion. The bitcoin network is made up of thousands of computers run by individuals all over the world.

source: https://twitter.com/alistairmilne/status/1153312781573218307?s=20

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[Paulinerims]

Great news for crypto platforms. As the word is expanding there is more and more engagement by new investors and traders making crypto even stronger on the world scale.

[Strongkored]

Coinbase is the choice for US citizens which is why they continue to grow.
Are those 30 users are users as traders or users that's only using Coinbase services as an Online Wallet even though this is not a such safe things to save coin.

[Kakmakr]

So we have 30 Million people stripped of their financial privacy.    Satoshi wanted people to buy and sell bitcoins between each other, without any third party services adding fees and causing security exploits for the users. <Note : Most coins hacked are through weak security on third party exchanges>

It was inevitable that services like this would be created, because it brings convenience to users that are used to the Banks and financial services, handling all their financial matters. True financial freedom comes from not having to use Bitcoin through third party services.

Coinbase pose a huge security risk, because they manage and secure lots of Private keys on behalf of Bitcoin users. <Note : I said "users" and not "owners" because you do not own the coins, if you do not have control over the Private keys.>  

[timerland]

Wow! We have 30 million people who use one of the worst wallet services and work with one of the greediest company's in the world.

Coinbase just poured all their money into mainstreaming marketing, so person who would be new to crypto would have to make a wallet with coinbase. It's really sad to see the big corporation win when Bitcoin was made for the people. The irony...

So Coinbase is definitely a huge issue. Way too many of their customers do not understand that they do not actually own their money and haven't been exposed to other hardware wallets (electrum, mycelium, BTC core).

People need to put more research into blockchain technology, they are way too lazy when getting in BTC.

[crwth]

In general, for the Bitcoin Community, this is one of the greatest milestones that Bitcoin could achieve. I'm just saying Bitcoin because it's the main thing about Coinbase. It may not be the best exchange but at least there are 30 million users that know about Bitcoin already or made the first step forward.

I haven't used coinbase and I don't think I will soon but I'm just elated that it has passed 30 million users which could be beneficial in the growth of Bitcoin in General.

[Herbert2020]

So we have 30 Million people stripped of their financial privacy.    Satoshi wanted people to buy and sell bitcoins between each other, without any third party services adding fees and causing security exploits for the users. <Note : Most coins hacked are through weak security on third party exchanges>

existence of these services which actually make adoption of bitcoin super easy for a lot of people who will never bother with complicated stuff is not such a bad thing in my opinion. and this stat (30 million) is the proof of two things, bitcoin adoption is still growing even with all the drama and FUD and also proves my point about a lot of people who want much easier ways of entering bitcoin.

[piebeyb]

One of the users of the coinbase wallet was me, but I didn't use that wallet anymore to save my funds there, because the transaction I had had a problem there 3 years ago and I no longer use it because the service is not satisfactory, if in 1 month their users increase 5 million users, that's because maybe the giveaway they give is free like XLM. BAT, EOS and others for all their users, I admit it's a good marketing technique

[o_e_l_e_o]

Coinbase pose a huge security risk, because they manage and secure lots of Private keys on behalf of Bitcoin users.

Coinbase is a huge issue, too many of their customers do not understand that they do not actually own their money and haven't been exposed to other hardware wallets.

You are both right, and as we all know, storing your funds on an exchange or web wallet is a huge security risk. This isn't even the worst thing about using Coinbase, however. They admitted a few months ago they were selling their customers' private data without their knowledge or consent, and they have done nothing to compensate or reassure these users. They partnered with Hacking Team, who provide surveillance and tracking services to dictatorships to spy on their citizens. They list coins which their shareholders tell them to so they can dump their bags on Coinbase's customers.

Coinbase care not at all about their customers or the future of bitcoin, and only about making maximum profit. You would do well to stay away.

[darklus123]

I think it is still a positive progress towards the community. Even if we all do know what Coinbase's current reputation when it comes to data privacy, some users will don't actually care too much with regards to their privacy and will still prefer to have a convenient way for their crypto transactions.

For me, this are just fine as long as you don't put all your coins on that site unless you really just wan to trade it directly to FIAT. Because it is still the easiest and safest way to do so rather than being scammed by someone doing the peer to peer trades

[avikz]

It would have been a great news if Coinbase remained as only bitcoin wallet.  But now you can use total 23 different coins in a coinbase account. There's no indication that these 30 million users belong only to bitcoin and not to other coins. So in general it is a good news for crypto but not specifically for bitcoin.

Fuck coinbase, a pure crap exchange that got lucky and made it mainstream, they have always been unreliable and shit. I suggest anyone in the US to use Gemini and leave a shit exchange like coinbase in the dust.

There's no doubt that coinbase had played a big role to make cryptos easy to understand for a lot of people who doesn't have much technical understanding. Till date I use a coinbase account for altcoins with less value because of their easy to operate interface. May be crap to many people, but we can't deny their contribution towards mainstream adoption of cryptos!

[Nadziratel]

There are platforms that everyone likes and dislikes. But I think Coinbase is a reliable and important crypto platform. And they continue to develop slowly but very decisively. A platform for which I am very hopeful for the future.

[Vaskiy]

There is good as well bad services were experienced by the coinbase users. Beyond this it has served the cryptocurrency community for around seven years. This is not easy achievable, 30 million cryptocurrency users when the same has got opposition, support and legal bans. This way it has crossed several hard situations and has reached a big milestone. Among the 30 million how many were active in the market needs to be calculated.

[krb91]

Although it is good news for the cryptocurrency market as volume often precedes an increase or a decrease in price(I am a moon boy so I'm hoping for a move to the upside eventually), the number of users is not a true reflection of purchases, sure it implies that there is an increase in interest but no more. I own a coinbase account that I've never funded or used.

[o_e_l_e_o]

For me, it does not matter how many crypto users, the main thing is how much bitcoin costs

That's the wrong attitude to have. Prices comes with demand. Demand comes with adoption. Adoption comes with more users. Increasing price without increasing adoption leads to big crashes and bear markets. That's what happened during the end of 2017; a parabolic rise based entirely on speculation, which lead to a year long bear market and a fall of 80+% from ATH.

There will always be speculators who only care about the price, but I would encourage you to read up on the technology, and understand why most of us are interested in bitcoin.

[timerland]

In general, for the Bitcoin Community, this is one of the greatest milestones that Bitcoin could achieve. I'm just saying Bitcoin because it's the main thing about Coinbase. It may not be the best exchange but at least there are 30 million users that know about Bitcoin already or made the first step forward.

I haven't used coinbase and I don't think I will soon but I'm just elated that it has passed 30 million users which could be beneficial in the growth of Bitcoin in General.

I half agree with what you said here. More people using bitcoin, sure is good, helps grow the community and creates a snowball effect of even more people using crypto, which when you take a very general viewpoint at - seems good. The problem is that the audience and market that is being attracted by coinbase users is not a community that will actually benefit bitcoin adoption too much because of most/all of the people that are a current coinbase user are either too lazy to do the proper research (which are likely lazy investors who are only holding/buying BTC to make a profit off of), or people who support Coinbase's business practices, which is a great example of corporate greed and lack of user security.

For me, it does not matter how many crypto users, the main thing is how much bitcoin costs

That's the wrong attitude to have. Prices comes with demand. Demand comes with adoption. Adoption comes with more users. Increasing price without increasing adoption leads to big crashes and bear markets. That's what happened during the end of 2017; a parabolic rise based entirely on speculation, which lead to a year long bear market and a fall of 80+% from ATH.

There will always be speculators who only care about the price, but I would encourage you to read up on the technology, and understand why most of us are interested in bitcoin.

Very well said, I completely agree with your sentiment that more people need to focus on the technology behind it, then just turning a quick buck.

[crwth]

~snip

I half agree with what you said here. More people using bitcoin, sure is good, helps grow the community and creates a snowball effect of even more people using crypto, which when you take a very general viewpoint at - seems good. The problem is that the audience and market that is being attracted by coinbase users is not a community that will actually benefit bitcoin adoption too much because of most/all of the people that are a current coinbase user are either too lazy to do the proper research (which are likely lazy investors who are only holding/buying BTC to make a profit off of), or people who support Coinbase's business practices, which is a great example of corporate greed and lack of user security.

In general, those are the main things. I agree with you wholly knowing that knowing that it’s coinbase, it wouldn’t be that good of a community (not like here in Bitcointalk) if they start it with here, I think it would be great to start in our forum, not just because I started to learn Bitcoin here but also a lot of things starts here like projects, bounties, etc.

That’s the reality that we live in today, people getting lazy all the time, wanting you to spoon feed them with information. I think it’s necessary for people to learn by themselves from time to time, so that their learning could improve. I’m getting off topic with these, it’s just my emotion knowing the reality and I couldn’t avoid it too. I don’t want to be lazy but there are just times that you do it. That’s just my opinion.

[Indamuck]

Coinbase is really simple for new users that want to buy crypto but we should encourage them to use coinbase pro and save on fees.  I know a real exchange setting can look very intimidating at first but its something you need to learn if you want to take your investments seriously.

[Slow death]

Coinbase has passed 30million users this month
(adding 5million users in the last ~10 months)

I don't use coinbase because it's not supported in my country, I see comments from people complaining about them, but I believe they are no worse than exchanges like paxful, localbitcoin and cex.io... so whenever I see someone needing to buy bitcoin, I Ask if this person lives in any country where they have coinbase support so that person can buy bitcoin on coinbase. I don't know if those 30 million users are all active, but I think that's good news.

[omone1]

The more the government say they are not a fan of the bitcoin, the more users sign up and learn how it works. They just make it popular the more. The volume of users keeps growing bigger and bigger.