Coinbase Global Inc (COIN)
Coinbase Global Inc (COIN) is a US-based holding company. Its main asset is Coinbase Inc., an online cryptocurrency exchange platform that operates remotely without a physical headquarters. It was created in 2012 by Brian Armstrong and Fred Ehrsam. As of March 2021, it's the largest cryptocurrency exchange in the US.
The company reported 56 million verified users in Q1 2021, with 6.1 million active users. Its trade volume is $335 billion, and its quarterly revenues stand at $1.8 billion, with profits ranging from $730 million to $800 million. The total value of all the crypto assets stored on Coinbase in Q1 2021 was recorded at $223 billion.
Coinbase offers a wide range of products, catering to both retail and and institutional cryptocurrency investors alike. Its offering includes various other crypto-related products, such as a stablecoin that allows customers to exchange US dollars for cryptocurrencies.
Stock in Coinbase Global Inc. is scheduled to start trading on 14 April, when the company is due to be listed directly on the Nasdaq following its IPO. The company plans to issue 114.9 million shares, and the value of Coinbase Global Inc. is expected to reach $70-90 billion. This is close to the capitalisation of major global banks like the US-based Citigroup or the Royal Bank of Canada.
At a time of strong growth for the crypto market, the company's shares are firmly in the focus of many investors.
COIN's shares are expected to be more volatile than classic stocks and, at the same time, riskier because the company's business is tied to cryptocurrencies, which are themselves volatile. The stock's daily value fluctuation is expected to average around 5%.
How to buy and sell COIN
You can buy and sell COIN shares on stock exchanges, but the best way to trade them is through a broker or trading platform. Examples of such platforms include MetaTrader or Libertex, where leverage can be used, and you can trade if the stock's value goes down.