CBBTC Coinbase BTC

Buying and Selling

Coinbase BTC is primarily used for buying, selling, and trading cryptocurrencies. It allows users to purchase popular coins like Bitcoin, Ethereum, and Solana, and supports over 260 different types of cryptocurrencies.

Storage and Management

Users can securely store and manage their digital assets on Coinbase. The platform holds these assets in a hosted digital wallet, ensuring they are readily available for trading and other services. The assets always belong to the user, and Coinbase maintains internal ledgering systems to track account activity in real time.

Transactions and Payments

Coinbase BTC enables users to send and receive cryptocurrencies between online balances, friends, or merchants. Sending between Coinbase users is free, and users can also transfer funds from their wallet to a bank account.

Investment and Rewards

Users can invest in cryptocurrencies and earn rewards. For example, holding USDC on Coinbase can earn a 1% APY, and staking Tezos can earn up to 5% APY.

Everyday Use

Cryptocurrencies on Coinbase can be used for everyday activities such as shopping, donating to causes, and gifting. Over 8,000 global merchants accept cryptocurrency via Coinbase Commerce.

Pros of Coinbase BTC

• User-Friendly Interface: Coinbase BTC offers an easy-to-use interface and mobile app, making it accessible for beginners and those who are not tech-savvy. Its simplicity allows anyone to invest in cryptocurrencies without spending too much time figuring out how to use the platform.
• Wide Range of Cryptocurrencies: Coinbase BTC provides a wide variety of cryptocurrencies for trading, including Bitcoin, Ethereum, Litecoin, and many more. This variety gives users numerous options to diversify their portfolio according to their risk appetite.
• Educational Resources: Coinbase BTC offers educational resources such as video classes and exams to educate users about cryptocurrency trading and some of the cryptocurrencies available. Users can earn a few dollars worth of certain cryptocurrencies by taking these classes.
• Zero Trading Fees with Coinbase One: For frequent traders, Coinbase One offers zero trading fees, customer support, and enhanced security for a monthly subscription fee. This can reduce costs for investors who trade frequently.

Cons of Coinbase BTC

• High Fees: One of the biggest drawbacks of using Coinbase BTC is the high fees it charges users. These fees can add up over time, especially for frequent traders or investors in cryptocurrencies.
• Limited Control Over Wallets: Users have limited control over their wallets when using Coinbase BTC's built-in wallet system. They do not have access to their private keys, which means they are entrusting their cryptocurrencies with a third-party provider.
• Privacy Concerns: When signing up for an account with Coinbase BTC, users are asked to provide personal information such as their name, address, phone number, and email address. There are concerns about how this data is being used by third-party services that have integrated with Coinbase BTC.
• Complex Fee Structure: Coinbase BTC's fee structure can be confusing and depends on various factors, including the selected payment method, the size of the order, and market conditions such as volatility and liquidity. This can make it difficult for users to predict fees ahead of time.

Founders of Coinbase BTC

The founders of Coinbase BTC are Brian Armstrong and Fred Ehrsam.

• Brian Armstrong: An American business executive and investor, Armstrong is the CEO of Coinbase. He was born on January 25, 1983, and co-founded Coinbase in 2012 after working as a software engineer at Airbnb and being exposed to payment systems in various countries.
• Fred Ehrsam: Ehrsam is a former Goldman Sachs trader who joined Armstrong as a co-founder after meeting him on a Reddit subgroup in 2012. He is also known for co-founding Paradigm, a venture studio focused on cryptocurrency investments.

Investors in Coinbase BTC

Coinbase BTC has a diverse set of investors, including institutional and retail investors. Here are some key points about the investors:

• Institutional Investors: These include financial institutions, private clients, and other corporate entities. Coinbase Institutional offers solutions and products tailored for these investors, providing access to deep and diverse liquidity through Coinbase Exchange and Coinbase Prime.
• Retail Investors: These are individual users who buy, sell, and manage cryptocurrencies through Coinbase's retail platforms, such as the Coinbase app and Coinbase Wallet. Retail investors can also participate in educational programs like Coinbase Earn to learn about various cryptocurrencies and earn rewards.
• Venture Capital and Strategic Partners: Coinbase Ventures invests in startups and projects within the crypto and Web3 ecosystem, supporting founders and teams that align with Coinbase's mission of creating more economic freedom. This includes investments in layer 1 protocols, Web3 infrastructure, decentralized finance, NFTs, and more.
• Public Investors: As a publicly traded company, Coinbase also has public investors who hold shares of Coinbase Global, Inc. These investors can access financial information and updates through Coinbase's investor relations portal.

Halal Status of Coinbase BTC

• Halal Status: No
• Reason: While Bitcoin itself is considered halal by many scholars, Coinbase's business activities involve facilitating the trading of impermissible assets and earning interest, which are not sharia-compliant.

Key Points to Consider:

• Bitcoin's Sharia Compliance: Bitcoin is generally considered halal as it fits into the general Sharia framework and does not inherently involve haram activities.
• Coinbase's Business Activities: Coinbase's revenue streams include transaction fees from impermissible assets and interest earnings, which are not permissible under Islamic law.
• Sharia Screening Criteria: For a company to be sharia-compliant, its core business activity must avoid haram activities, and its income from haram sources must not exceed 5% of its gross revenue.