Coinbase Launching US-Based Bitcoin Exchange Today

Not long after the Winklevoss team announced elaborate plans to build a fully regulated exchange, Coinbase got straight to the point: it is launching today at 9 AM EST.

Its "To the Moon" page had everyone wondering what the venture had in store next; An exchange was not the first guess. But it does make sense. Coinbase now supports USD wallets and has been expanding the list of states where they are licensed for use. It has also been a busy few days for Coinbase, which last week announced a record $75 million funding round. One of the investors was the New York Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (NYSE), a fitting backer for the latest undertaking.

Coinbase had, until now, offered a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term-buying service, but as a broker than as an exchange service. Its new exchange will be order-book driven and charge a 0.25% fee per trade. This solves another piece of the puzzle: How was Coinbase planning on making money in the future, especially when considering that over $100 million has been invested to date? The company does not charge for its wallet service. Even supported merchants don't pay fees until they reach a certain sales threshold, and even then the amount is fairly small.

Thus, the company has first built up a solid foundation consisting of a wallet, vault, merchant and API services, creating a contained ecosystem that has yet to suffer a major security breach. While the trading fees are average for the industry, it will be interesting to watch if traders flock to what is considered one of the most secure platforms.

Coinbase CEO Brian Armstrong said that the exchange will be initially available to US customers only, and will expand internationally over time.

Bitcoin prices today have soared to above $300, likely a result of the news. While in theory the development is good for the Bitcoin ecosystem, it does not necessarily increase the value of its currency. In the past, the addition of altcoins such as Litecoin to major exchanges was initially greeted with much euphoria, which eventually fizzled.