Difference between revisions of "Coinbase (business)"

From Bitcoin Wiki
Jump to: navigation, search
(Merchant Tools)
(we don't want articles about these guys)
 
(58 intermediate revisions by 21 users not shown)
Line 1: Line 1:
A hosted (shared) web-based [[EWallet]] used for sending, receiving and storing bitcoins.  This is not to be confused with the data structure in the blockchain which is also named coinbaseThis also is not to be confused with a podcast series called Coinbase that was produced by AgoristRadio.com.
+
:''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 bitcoinUsers 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 Bitcoin.  Its service is modeled to provide an experience familar to those who are comfortable using PayPal.
+
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==
  
===Buy Bitcoins===
+
===Buy Bitcoin===
  
====U.S.====
+
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. 
  
From a linked bank account, bitcoins can be purchased easily.  The exchange rate used is locked in at the time of purchase, but the coins are not available until the bank transfer (an ACH bank transaction) is completed.  This will take two or more business days.  A fee is paid (currently 1% of the market price plus $0.15 per purchase) when using this service.
+
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 completeThe bank verification process is very similar to the relevant procedure at PayPal.
  
Linking a bank account can be done using Instant Account Verification (by providing your bank account credentials) or through a Challenge Deposit method which will take several days to complete.
+
===Sell Bitcoin===
  
===Sell Bitcoins===
+
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. 
  
====U.S.====
+
===Send Money===
  
Proceeds from selling bitcoins are sent as a direct ACH transfer to your bank account. The fee is 1% plus $0.15The price is locked upon executing the sell and the funds arrive in your bank account in 2-3 business days.
+
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 currencyIf 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.
  
===Send Money===
+
===Request Money===
  
This feature provides the ability to send bitcoin to an e-mail address or to a bitcoin address. The amount of bitcoin sent can be determined by entering a value in USD, which will be automatically converted to the equivalent value of bitcoin based on the current market exchange rate. If bitcoin 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 bitcoin.
+
This feature provides the ability to request funds (denominated in either USD or a digital currency) through an invoice which is sent by email.
  
===Request Money===
+
===Exchange===
  
This feature provides the ability to request funds (denominated in either USD or BTC) through an invoice which will be sent by email.
+
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/merchant_tools/payment_buttons Payment buttons] make it easy to accept bitcoin on any website by copying and pasting a few lines of code.
+
[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/merchant_tools/payment_pages Payment pages] allow merchants to accept bitcoin with a hosted checkout page on coinbase.com.
+
[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/merchant_tools/callbacks Callbacks] allow for instant payment notifications to a merchant's website.
+
[https://developers.coinbase.com/docs/merchants/callbacks Callbacks] allow for instant payment notifications to a merchant's website.
  
[https://coinbase.com/docs/merchant_tools/payouts Payouts] allow merchants to cash out bitcoin on a daily basis through a USD transfer to a linked bank account.
+
[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==
  
There are no fees for sending or receiving bitcoins.
+
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==
 
==History==
  
The service was announced on June 29, 2012<ref>[http://bitcointalk.org/index.php?topic=90779.0 Coinbase - Funded by Paul Graham]</ref>. The organization is funded by Y! Combinator. The service has plans to offer a wallet denominated in USDs as well, and to offer fixed-rate exchange so that bitcoins can be bought and sold.
+
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 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 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 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 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 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 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 53: Line 81:
 
* [[Buying bitcoins]]
 
* [[Buying bitcoins]]
 
* [[Selling bitcoins]]
 
* [[Selling bitcoins]]
 +
*[[Coinbase Exchange]]
  
 
==External Links==
 
==External Links==
  
* [http://www.Coinbase.com Coinbase.com] website
+
* [https://www.coinbase.com/ Coinbase.com] website
  
 
==References==
 
==References==
<references />
+
<references/>
  
 
[[Category:EWallets]]
 
[[Category:EWallets]]
Line 69: Line 98:
 
[[Category:Clients]]
 
[[Category:Clients]]
 
[[Category:Mobile]]
 
[[Category:Mobile]]
[[Category:Block chain browsers]]
+
[[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.
Coinbase, Inc.
Coinbase.png
IndustryeWallet, exchange
FoundedJune 20, 2012
HeadquartersSan Francisco, CA, United States
Founder(s)Brian Armstrong, Fred Ehrsam
Websitecoinbase.com
 Twitter  Facebook 
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

References

Coinbase Review