It's amazing to look back just one year from today on some of the articles I have written. Many of them still stand the test of time and my guides on how to use Coinbase, Coinbase Pro, and avoid fees is still a very popular one! Even though we have been in a Bear Market (term for a downtrend in the markets, what you didn't know that? See my glossary of terms here), Coinbase has still been building and launching support for more tokens and high grade services for institutions. The days of hype surrounding the launch of a token on Coinbase seem to be behind us, but I wanted to take a look at their latest string of updates they are calling "The 12 Days Of Coinbase", and my thoughts on their future as a staple in the crypto world!
Holiday Crypto Celebration
Starting December 10th Coinbase is celebrating 12 Days of Coinbase by release new features or token support, 1 each day at noon, over the next 12 days. They kicked things off on the first day by announcing a gift card integration with WeGift where you can buy gift cards for some of your fav spots by linking your Coinbase to WeGift.io. In addition, there are no withdrawal fees and bonuses of up to 10% on select vendors which include Uber & Nike! A great way to spend your crypto this holiday season if you don't want to wait to cash out or take the hit on cash out fees.
Day 2 has seen the Coinbase team donate a ton of ZCash to Venezuelan families. This is a cause I have been following closely and if you missed my recent article on the financial crisis in Venezuela then you can find that here. This is all done through Coinbase CEO Brian Armstrong's crypto charity GiveCrypto.org.
What a great start to this holiday promotion! I am excited to see what else they have in store for us each day, but where are the token announcements?!?
New Token Listings On Coinbase
Coinbase has pretty much thrown their cautious approach to adding new cryptocurrencies and tokens to their platform, recently announcing over 30 that they are looking at as you can see below:
This comes after making recent additions to their platform this year with Ethereum Classic (ETC) being the first followed by 0X (ZRX), Basic Attention Token (BAT) (one of my favs! Get the Brave browser for BAT), & ZCash (ZEC) respectively along with stablecoin USDC (that's Circle's stablecoin)pairs. I was calling BAT as an early addition and was very happy to see it added as I love using the Brave browser to support my favorite content creates directly with the BAT token. Quickly following the release of the image above, Coinbase has now recently announced they are adding Civic (CVC), District0x (DNT), Loom Network (LOOM) and Decentraland (MANA).
I was a bit surprised to see that Stellar (XLM) did not make it in this round, but I think we will see most of these coins roll out in the next few months. My favorites, and tokens I personally hold, are EnjinCoin (ENJ), Tezos (XTZ), & NEO. Will be great to get Ethereum stablecoin Dai on the platform as well.
Is Coinbase Still A Good Place For Beginners To Trade?
People still ask me all the time if Coinbase is a good place for beginners to trade or if they should be going to places like Binance. In my opinion, yes, I do think that Coinbase is a great way to get started in crypto as they DO make it really really simple for beginners to get their feet wet. It's a great learning environment with top notch security so you can't screw too much up! Now with that being said, I do think that some other equally great apps have sprung up this year that are also very easy for beginners and might be worth a try. Here is a quick list of those and a little about why I like them:
Voyager - If you are looking for an super easy way to trade a good amount of coins on your mobile phone then check out Voyager. Invest Voyager fees are ZERO in 2020 so you can trade for free all day long (they do have withdraw fees that vary though). This exchange is one of the first to also be publicly traded on a stock exchange to give traditional investors exposure. The Voyager app is available for both Android and iPhone and is by far one of the easiest Bitcoin buying experiences I have had.
Square's Cash App - Square is a huge company and their CEO supports crypto. They launched Bitcoin purchasing on their popular Cash App and it has EXPLODED, surpassing Venmo & Coinbase in app store downloads.
Robinhood App - I was excited to be one of the first users of the Robinhood Crypto app and it is still one of my favorite investing apps because they combine stocks in there too. It opened me up to basic stock trading with a stupid-simple interface. They offer more coins for purchase than Cash App, and its great for learning more about other avenues to diversify your assets. PLUS they just rolled out Checking & Savings accounts with no fees ever!
ABRA App - I have followed the ABRA team since Crypto Invest Summit early in 2018 and their app is packed with features and super easy to use. While the 2 above are a bit limited on transfers in and out, ABRA makes it easy to send & receive. They also hook you up with free Bitcoin when you make your first deposit!
I use all of these apps and websites and it really makes me realize that we are getting closer and closer to making crypto easy for EVERYONE to use and not just those that are tech savy. If you give any of these a try, leave a comment below to let me know what you think or if you have any trouble and I can help guide you!
Hope this little breakdown of what Coinbase has been up to the last few months has been helpful. More on their development soon, but until then...
'Stache That Crypto Friends!