Facebook Messenger is unlikely to embrace cryptocurrency payments anytime soon according to David Marcus, Facebook’s vice president of messaging. In a recent interview with CNBC, the former president of PayPal pointed to perceived issues with existing cryptocurrencies, specifying high transaction fees and slow transaction times as reasons why the product isn’t likely to introduce the technology as a payment method, at least in the near term. However, Marcus, who joined the board of Coinbase in late 2017, did leave the door open to allowing such payments in the future, saying that when blockchain developer communities “fix all the issues,” it’s possible that the company will “do something” to open up the option.
America’s largest cryptocurrency exchange Coinbase reportedly made $1 billion in revenue in 2017, overshooting its 2017 revenue forecast of $600 mln by 66 percent, Recode reports, citing “industry sources.” According to Recode, despite the peaked interest of outside investors, the company remains private and does not allow stock to be traded on secondary markets.
The platform was swamped by an influx of new users looking to set up trading accounts as Bitcoin entered a massive bull run in November, 2017. Following the announcement of Bitcoin futures launch early that month on CME, Coinbase saw 100,000 new users sign up in just 24 hours.
Coinbase is a digital asset exchange company, with is based in San Francisco, California. It allows the customers to exchange Bitcoin, Ethereum, and Litecoin, just to name a few. In total, you can exchange fiat currencies in 32 countries, and Bitcoin transactions and storage in 190 countries worldwide.
Coinbase have very publicly stated their plans to add cryptocurrency plans, as soon as banking arrangements in other jurisdictions are secured. Despite this, Coinbase have rapidly increased its trading volume, now providing decent liquidity on low spreads, thanks to the seamless integration of wallet and exchange features.
They have added a suite of apps, which are compatible with most mobile devices, which is boosting their reputation, leading them to be one of the best in the industry. They have worked hard to develop a great and easy to use interface, which is top of the range.
Coinbase operate great security practices, as well as insurance in all deposits. They have also raised over 100million USD in funding, which has provided them with a solid capital foundation. They keep over 97% of their funds kept offline in cold storage USB’s, or paper wallets, and they have a two-factor authentication on all of their accounts as well, as well as procedures such as SQL injection filters that have been designed to halt heart bleed bug attacks.
Year Launched: 2012