Coinbase (business): Difference between revisions
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:''Not to be confused with the [[coinbase]] parameter.'' | |||
{{infobox company|name=Coinbase, Inc.|image=[[File:Coinbase.png]] | |||
|industry=[[eWallet]], [[exchange]] | |||
|founder=Brian Armstrong, Fred Ehrsam | |||
|foundation=June 20, 2012 | |||
|location=San Francisco, CA, United States | |||
|assets={{increase}} 366,492 BTC (2015) /<br/>{{increase}} $105 million USD (2015) | |||
|twitter=coinbase | |||
|facebook=Coinbase | |||
| | |||
|website=[https://www.coinbase.com/ coinbase.com]}}'''Coinbase''' is a hosted web-based [[eWallet]] used for sending, receiving, and storing bitcoin. Users can also connect a U.S. based bank account to buy and sell cryptocurrency via bank transfer. | |||
The service aims to be the easiest way to get started with | The service aims to be the easiest way to get started with digital currency, modeled to provide an experience familiar to those who are comfortable using PayPal. | ||
==Transactions== | ==Transactions== | ||
| Line 7: | Line 17: | ||
===Buy Bitcoin=== | ===Buy Bitcoin=== | ||
Coinbase allows users to purchase | Coinbase allows users to purchase a digital currency by directly transferring money from a bank account. Although the exchange rate is locked in at the time of order placement, the digital currency is not released for four business days. Verified users are allowed to create instant-purchases, which credits the digital currency to their account before the bank transfer clears. | ||
Linking a bank account can be done using Instant Account Verification (by providing your bank account credentials) or through a Challenge Deposit method which takes 2-3 business days to complete. | Linking a bank account can be done using Instant Account Verification (by providing your bank account credentials) or through a Challenge Deposit method which takes 2-3 business days to complete. The bank verification process is very similar to the relevant procedure at PayPal. | ||
===Sell Bitcoin=== | ===Sell Bitcoin=== | ||
Proceeds from selling | Proceeds from selling a digital currency are sent as a direct ACH transfer to a linked bank account. The price is locked upon executing the sell and the funds arrive in the bank account in 2-3 business days. | ||
===Send Money=== | ===Send Money=== | ||
This feature provides the ability to send | This feature provides the ability to send a digital currency to both email and digital currency wallet addresses. The amount of cryptocurrency sent can be determined by entering a value in either USD (converted to a digital currency based on the current exchange rate) or the digital currency. If digital currency is sent to an email address not currently registered with Coinbase, an account will automatically be created and a message will be sent to that email address prompting the user to verify the account and claim the digital currency. | ||
===Request Money=== | ===Request Money=== | ||
This feature provides the ability to request funds (denominated in either USD or | This feature provides the ability to request funds (denominated in either USD or a digital currency) through an invoice which is sent by email. | ||
===Exchange=== | |||
On January 26, 2015 Coinbase announced via a blog post <ref>[http://blog.coinbase.com/post/109202118547/coinbase-launches-first-regulated-bitcoin-exchange Coinbase Launches First Regulated Bitcoin Exchange in the U.S.]</ref> they were launching a United States based and US regulated bitcoin exchange. The exchange located at [https://exchange.coinbase.com/ https://exchange.coinbase.com/] allows users from select US states and territories begin trading using an order book on the Coinbase website. | |||
==Merchant Tools== | ==Merchant Tools== | ||
[https://coinbase.com/docs/ | [https://developers.coinbase.com/docs/merchants/payment-buttons Payment buttons] make it easy to accept bitcoin on any website by copying and pasting a few lines of code. | ||
[https://coinbase.com/docs/ | [https://developers.coinbase.com/docs/merchants/payment-pages Payment pages] allow merchants to accept bitcoin with a hosted checkout page on coinbase.com. | ||
[https://coinbase.com/docs/ | [https://developers.coinbase.com/docs/merchants/callbacks Callbacks] allow for instant payment notifications to a merchant's website. | ||
[https://coinbase.com/docs/ | [https://developers.coinbase.com/docs/merchants/payouts Payouts] allow merchants to cash out bitcoin on a daily basis through a USD transfer to a linked bank account without exchange rate risk. | ||
Coinbase also offers an [https://developers.coinbase.com/docs/wallet API] for custom applications or merchant integrations. | |||
==Fees== | ==Fees== | ||
| Line 37: | Line 53: | ||
There are no fees for sending, receiving, or storing bitcoin. | There are no fees for sending, receiving, or storing bitcoin. | ||
The fee for buying or selling bitcoin with a bank transfer is a fixed 1% + $0.15. | The fee for buying or selling bitcoin with a bank transfer is a fixed 1% + $0.15. This fee is waived on automatic sell orders made using their merchant instant-exchange functionality. | ||
==History== | ==History== | ||
| Line 43: | Line 59: | ||
The service was announced on June 29, 2012 and received seed funding from Paul Graham after going through the startup incubator Y-Combinator<ref>[http://bitcointalk.org/index.php?topic=90779.0 Coinbase - Funded by Paul Graham]</ref>. | The service was announced on June 29, 2012 and received seed funding from Paul Graham after going through the startup incubator Y-Combinator<ref>[http://bitcointalk.org/index.php?topic=90779.0 Coinbase - Funded by Paul Graham]</ref>. | ||
On October 26, 2012 the service launched its method to buy and sell bitcoins using a linked bank account<ref>[http://blog.coinbase.com/post/34357253898/you-can-now-buy-and-sell-bitcoin-by-connecting-any-u-s You Can Now Buy And Sell Bitcoin By Connecting Any U.S. Bank Account]</ref>. | On October 26, 2012, the service launched its method to buy and sell bitcoins using a linked bank account<ref>[http://blog.coinbase.com/post/34357253898/you-can-now-buy-and-sell-bitcoin-by-connecting-any-u-s You Can Now Buy And Sell Bitcoin By Connecting Any U.S. Bank Account]</ref>. | ||
On December 5, 2012 Coinbase launched its Merchant Tools<ref>[http://coinbase.com/post/37274999622/how-to-accept-bitcoin-on-your-website How To Accept Bitcoin On Your Website]</ref>. | On December 5, 2012, Coinbase launched its Merchant Tools<ref>[http://coinbase.com/post/37274999622/how-to-accept-bitcoin-on-your-website How To Accept Bitcoin On Your Website]</ref>. | ||
On May 7, 2013 Coinbase announced that it had received five million dollars in funding led by the venture capital firm Union Square Ventures. It | On May 7, 2013, Coinbase announced that it had received five million dollars in funding led by the venture capital firm Union Square Ventures. It was the largest funding round to date for a bitcoin company<ref>[http://blogs.wsj.com/venturecapital/2013/05/07/coinbase-nabs-5m-in-biggest-funding-for-bitcoin-startup/ Coinbase Nabs $5M in Biggest Funding for Bitcoin Startup]</ref>. | ||
On July 11, 2013 Coinbase launched instant buys for fully verified users<ref>[http://blog.coinbase.com/post/55203204550/instant-bitcoin-purchases-at-coinbase Instant Bitcoin Purchases at Coinbase]</ref>. | On July 11, 2013, Coinbase launched instant buys for fully verified users<ref>[http://blog.coinbase.com/post/55203204550/instant-bitcoin-purchases-at-coinbase Instant Bitcoin Purchases at Coinbase]</ref>. | ||
On December 12, 2013, Coinbase announced Series B funding of $25 million dollars led by the venture capital firm Andreessen Horowitz. It is the largest round of funding received by a bitcoin company<ref>[http://www.forbes.com/sites/kashmirhill/2013/12/12/bitcoin-wallet-coinbase-deposits-25-million-from-andreessen-horowitz/ Bitcoin's Biggest Investment]</ref>. | |||
On February 27, 2014, Coinbase announced that 1 Million consumer wallet accounts have been opened on their platform <ref>[http://blog.coinbase.com/post/78016535692/a-major-coinbase-milestone-1-million-consumer-wallets 1 Million Consumer Wallets]</ref>. | |||
On May 7, 2014, Coinbase announced that they acquired the content-sharing platform Kippt. <ref>[http://www.coindesk.com/coinbase-boosts-team-acquisition-kippt-developers/ Coinbase Boosts Team with Acquisition of Kippt Developers]</ref> | |||
On August 18, 2014, Coinbase announced that they acquired the block explorer company Blockr.io. <ref>[http://techcrunch.com/2014/08/18/coinbase-acquires-blockchain-explore-blockr-io/ Coinbase Acquires Blockchain Explorer Blockr.io]</ref> | |||
On January 26, 2015, Coinbase launched [[Coinbase Exchange]] - First Regulated Bitcoin Exchange in the U.S. <ref>[http://techcrunch.com/2015/01/25/coinbase-us-bitcoin-exchange/ Coinbase Is Opening The First Regulated Bitcoin Exchange In The U.S.]</ref> | |||
==See Also== | ==See Also== | ||
| Line 55: | Line 81: | ||
* [[Buying bitcoins]] | * [[Buying bitcoins]] | ||
* [[Selling bitcoins]] | * [[Selling bitcoins]] | ||
*[[Coinbase Exchange]] | |||
==External Links== | ==External Links== | ||
* [ | * [https://www.coinbase.com/ Coinbase.com] website | ||
==References== | ==References== | ||
<references /> | <references/> | ||
[[Category:EWallets]] | [[Category:EWallets]] | ||
| Line 71: | Line 98: | ||
[[Category:Clients]] | [[Category:Clients]] | ||
[[Category:Mobile]] | [[Category:Mobile]] | ||
[[Category: | [[Category:Payment Processors]] | ||
[https://www.weusecoins.com/coinbase-review/ Coinbase Review] | |||
Latest revision as of 20:55, 2 June 2020
- Not to be confused with the coinbase parameter.
| Industry | eWallet, exchange |
| Founded | June 20, 2012 |
| Headquarters | San Francisco, CA, United States |
| Founder(s) | Brian Armstrong, Fred Ehrsam |
| Website | coinbase.com |
Coinbase is a hosted web-based eWallet used for sending, receiving, and storing bitcoin. Users can also connect a U.S. based bank account to buy and sell cryptocurrency via bank transfer.
The service aims to be the easiest way to get started with digital currency, modeled to provide an experience familiar to those who are comfortable using PayPal.
Transactions
Buy Bitcoin
Coinbase allows users to purchase a digital currency by directly transferring money from a bank account. Although the exchange rate is locked in at the time of order placement, the digital currency is not released for four business days. Verified users are allowed to create instant-purchases, which credits the digital currency to their account before the bank transfer clears.
Linking a bank account can be done using Instant Account Verification (by providing your bank account credentials) or through a Challenge Deposit method which takes 2-3 business days to complete. The bank verification process is very similar to the relevant procedure at PayPal.
Sell Bitcoin
Proceeds from selling a digital currency are sent as a direct ACH transfer to a linked bank account. The price is locked upon executing the sell and the funds arrive in the bank account in 2-3 business days.
Send Money
This feature provides the ability to send a digital currency to both email and digital currency wallet addresses. The amount of cryptocurrency sent can be determined by entering a value in either USD (converted to a digital currency based on the current exchange rate) or the digital currency. If digital currency is sent to an email address not currently registered with Coinbase, an account will automatically be created and a message will be sent to that email address prompting the user to verify the account and claim the digital currency.
Request Money
This feature provides the ability to request funds (denominated in either USD or a digital currency) through an invoice which is sent by email.
Exchange
On January 26, 2015 Coinbase announced via a blog post [1] they were launching a United States based and US regulated bitcoin exchange. The exchange located at https://exchange.coinbase.com/ allows users from select US states and territories begin trading using an order book on the Coinbase website.
Merchant Tools
Payment buttons make it easy to accept bitcoin on any website by copying and pasting a few lines of code.
Payment pages allow merchants to accept bitcoin with a hosted checkout page on coinbase.com.
Callbacks allow for instant payment notifications to a merchant's website.
Payouts allow merchants to cash out bitcoin on a daily basis through a USD transfer to a linked bank account without exchange rate risk.
Coinbase also offers an API for custom applications or merchant integrations.
Fees
There are no fees for sending, receiving, or storing bitcoin.
The fee for buying or selling bitcoin with a bank transfer is a fixed 1% + $0.15. This fee is waived on automatic sell orders made using their merchant instant-exchange functionality.
History
The service was announced on June 29, 2012 and received seed funding from Paul Graham after going through the startup incubator Y-Combinator[2].
On October 26, 2012, the service launched its method to buy and sell bitcoins using a linked bank account[3].
On December 5, 2012, Coinbase launched its Merchant Tools[4].
On May 7, 2013, Coinbase announced that it had received five million dollars in funding led by the venture capital firm Union Square Ventures. It was the largest funding round to date for a bitcoin company[5].
On July 11, 2013, Coinbase launched instant buys for fully verified users[6].
On December 12, 2013, Coinbase announced Series B funding of $25 million dollars led by the venture capital firm Andreessen Horowitz. It is the largest round of funding received by a bitcoin company[7].
On February 27, 2014, Coinbase announced that 1 Million consumer wallet accounts have been opened on their platform [8].
On May 7, 2014, Coinbase announced that they acquired the content-sharing platform Kippt. [9]
On August 18, 2014, Coinbase announced that they acquired the block explorer company Blockr.io. [10]
On January 26, 2015, Coinbase launched Coinbase Exchange - First Regulated Bitcoin Exchange in the U.S. [11]
See Also
External Links
- Coinbase.com website
References
- ↑ Coinbase Launches First Regulated Bitcoin Exchange in the U.S.
- ↑ Coinbase - Funded by Paul Graham
- ↑ You Can Now Buy And Sell Bitcoin By Connecting Any U.S. Bank Account
- ↑ How To Accept Bitcoin On Your Website
- ↑ Coinbase Nabs $5M in Biggest Funding for Bitcoin Startup
- ↑ Instant Bitcoin Purchases at Coinbase
- ↑ Bitcoin's Biggest Investment
- ↑ 1 Million Consumer Wallets
- ↑ Coinbase Boosts Team with Acquisition of Kippt Developers
- ↑ Coinbase Acquires Blockchain Explorer Blockr.io
- ↑ Coinbase Is Opening The First Regulated Bitcoin Exchange In The U.S.