What is Coinbase Global?
Coinbase Global is the parent company of Coinbase.com, a US-based, multinational online cryptocurrency exchange founded in 2012.
The company provides technological and financial infrastructure allowing users to buy, store, spend and earn cryptocurrencies on a secure platform.
The company was founded by Brian Armstrong and Fred Ehrsam and has quickly grown to become the largest crypto exchange operating in the US with more than 7,000 institutional clients and over 56 million verified users.
The company went public in an initial public offering (IPO) on 14 April 2021. Opening at a price of $381, the stock quickly climbed to a high of $429.54 before closing at $328.28 on its first day of trading.
The level of investor interest in the company is demonstrated by the huge volume of trades on its first listed day, with more than 81 million shares swapping hands. There was some volatility in the initial weeks, with the price falling below $300 towards the end of April in 2021.
Performance of Coinbase stock price
The Coinbase share price history is relatively limited as the company only went public recently. There was a high degree of volatility during the opening weeks and the company was trading at an average volume of 7.5 million shares a day near the end of April 2021.
The Coinbase stock price chart shows that in the early weeks the price fluctuated between $282.07 and $429.54. An income statement released by the company in February, prior to the IPO, shows that it generated quarterly revenues of $1.27bn with a net income of $322.3m. While its estimated first-quarter results for 2021 reports total revenue of approximately $1.8bn and net income of $730m-$800m.
The company has a market cap of roughly $60bn as investors await the initial financial reports since the company went public. While the performance of the company is influenced by the prices of cryptocurrency, the business model employed generates income through transaction fees each time it is used and the Coinbase share price is not completely correlated to rising and falling crypto prices.
How to buy Coinbase stock
COIN stock trading occurs on the Nasdaq Stock Market. Those looking to buy Coinbase stock can buy it directly through the exchange, through a broker or indirectly through an index which includes COIN. Traders are also able to purchase derivatives based on the Coinbase share price, such as CFDs or options.
Traders looking to buy Coinbase stock using the Currency.com tokenised platform are able to profit from upward or downward movements in the Coinbase stock price without having to invest directly. Tokenised assets are crypto derivatives whose value is linked to the value of a particular asset, in this case the Coinbase share price.
The token is registered using distributed ledger technology (DLT) the same way cryptocurrency is recorded. This technology allows trading using crypto without the need to convert back and forth with fiat currency, saving exchange fees. The use of this technology allows tokenised asset trading to be efficient, inexpensive and secure.
Trading tokenised assets based on the Coinbase stock price lets you take a long or short position depending on whether you feel the price today is over or under-valued based on the price chart. If you think the Coinbase stock value will decrease you can take a short position and if you think it will increase you can take a long position. Trading in tokenised assets on Currency.com also allows for traders to benefit from the leverage offered on the platform, up to 1:20 leverage.
Why trade tokenised Coinbase shares with Currency.com?
Trading tokenised Coinbase shares on the Currency.com tokenised assets exchange has a number of advantages. Tokens are underpinned by robust and immutable blockchain technology. Opening a trade will give you a token that tracks and moves according to the underlying instrument’s price.
- One-stop crypto trading platform
Trade tokenised Coinbase shares with Bitcoin or Ethereum. Benefit from the share price movements without exchanging your crypto assets into fiat.
Trade tokenised shares with a tight market spread and benefit from maker rebates and competitive taker fees.
Experienced traders can trade the world’s top stocks, like COIN, with up to 1:20 leverage.
- Effective risk management
Manage your risks and secure your profits with stop loss and take profit orders. Save your assets with negative balance protection.
Currency.com has a scalable and low latency order management system, which can execute 50 million trades a second.
Currency.com operates under new Belarusian regulation with best-in-class AML and KYC laws. Regulatory details and fees are upfront.
Tokenised shares trading guide
Trading tokenised Coinbase shares is no more difficult than regular shares. To begin trading tokenised assets, you will need to follow some simple steps:
- 1. Register for an account with Currency.com.
- 2. Deposit funds (with crypto or fiat) in the account.
- 3. Determine the position size desired, accounting for leverage offered by Currency.com.
- 4. Determine your trading position (long or short) based on expected price movement and purchase tokenised Coinbase shares.
- 5. Currency.com matches the long orders from its clients with the sell orders and then hedges the unmatched orders through Capital.com, LMAX Digital or exchanges such as Binance, Bitstamp, Kraken, Nasdaq, NYSE, and Gain Capital.
- 6. Close your position when applicable. You can set a take profit or stop loss indicator to ensure you are not required to constantly monitor the price. Funds will deposit back to your account after closing and you can withdraw or take a new position.