In news that has excited many individuals within the cryptocurrency community, Coinbase – one of the world’s leading cryptocurrency exchanges – will begin trading on the Nasdaq Exchange this Wednesday morning under the ticker NASDAQ: COIN.
The company has chosen to go public via a direct listing, and this announcement has directed a spotlight of anticipation onto the Nasdaq and the wider tech sector. If you want to invest in Coinbase, today is your chance.
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Many investors feel today could offer significant potential for them to establish a foothold in the rapidly growing crypto space. We have previously explained how to buy Coinbase shares when they become available, though, given the imminence of your Coinbase investing opportunity, we thought explaining where you can buy Coinbase shares today in more detail would be helpful.
Read our list below to get an idea of the top options.
Where to buy Coinbase stock today
If you are trying to find the best places to buy Coinbase stock, it is important that you have a high standard when reviewing your options. There are many online brokers you can use, though choosing the best one requires an eye for detail and rigorous testing.
However, since the direct listing is today, our financial experts have saved you time by extensively testing the three best options below.
Each one of these brokers has a strong track record and a good combination of reliable services and unique features, so you can rest assured they are some of the best places to buy Coinbase shares.
Having tested Plus500 extensively, the platform’s user-friendly interface became obvious immediately. The main advantage to the platform is its flexible approach to investing. Rather than buying Coinbase stock outright, you can use CFDs, which usually works out as a cheaper alternative. Holding a CFD means owning a contract that represents COIN stock rather than owning it outright.
It is hard to go wrong with one of Europe’s top stock and cryptocurrency brokers. Etoro is a platform that has grown rapidly since its inception in 2006, and the Israel-based broker is one of the best places to buy COIN stock today. If you are looking for a combination of an industry-leading interface and powerful analytical features to monitor your investments, eToro could be the broker for you.
If you want to know where you can buy Coinbase shares today easily, Capital.com could well be the solution. During our extended test of the service, we were particularly satisfied with its speed, ease of use and reliability. If Capital.com sounds like it could be the product for you, sign up by clicking the link below.
It is possible that none of these brokers are what you are looking for, and if that is the case, don’t worry, we can help. Our reviews page contains a comprehensive selection of the best brokers around. You can find a detailed assessment of their credentials and links to sign up with. Moreover, if you are at all confused about how to invest in Coinbase stock, you may need a quick-fire introduction to the stock market first. With this in mind, we have generated a handy guide to buying shares in 2021.
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What is Coinbase?
Coinbase, Inc. is an American cryptocurrency exchange platform that was founded in June 2012 by Brian Armstrong, a former Airbnb engineer. With no official physical headquarters, the platform now serves around 43 million users in over 100 countries. With 1,249 employees and $1.14 billion generated in revenue in 2020, the platform is now the largest cryptocurrency exchange in the entire United States by trading volume, triumphing over competitors like Binance.
Armstrong and his team spotted the potential for blockchain technology to revolutionise financial markets, and with the rise of cryptocurrencies, users would need somewhere to exchange them. While fiat currencies have exchanges around the world, the crypto sphere lacked any infrastructure of this kind, and that is what Coinbase has attempted to produce.
Functioning just like any conventional exchange, users sign up to Coinbase, verify their identity and fund their account. Then, they can buy and sell any of the over 50 supported cryptocurrencies, including the extremely valuable Bitcoin (which hit a new all-time high today).
Moreover, the company has a suite of products covering all things crypto. For users that want a professional digital asset trading experience, there is Coinbase Pro, and for investors who want to store their crypto coins securely, there is a Coinbase Wallet. The company also offers a stablecoin, USD Coin, and specific products for institutional customers and even payment services for merchants.
Will Coinbase stock rise in value?
Nothing is ever guaranteed, especially in the stock market, though this could be a slam dunk investment. With over 2.8 million people actively exchanging via Coinbase every month, last year, the company had its first profitable year since 2017, generating $322 million in net profit. With a robust balance sheet and the promise of consistently growing profits, the fundamentals of the business look watertight on paper.
However, there are some doubts surrounding the company’s business model that you should keep in mind. The main one is based on the fact that cryptocurrencies are so popular because they are decentralised, existing outside of the current financial system. However, Coinbase is actually centralised, meaning it acts like a bank and holds your coins for you. This means you do not own your own coins directly, which seems at odds with the entire DeFi narrative.
Your main consideration when projecting Coinbase’s future share price is your belief in the crypto macro story. Coinbase has been leading the way in the cryptocurrency sector for nearly a decade, and with many analysts expecting growth to accelerate further, the crypto space could become even more lucrative. On its first day of trading, Coinbase could be worth more than Goldman Sachs. Just think about that for a moment…
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