With the announcement that COINBASE will be today going public on the Nasdaq, traders may be wondering where they can buy
With the news of Coinbase going public, there is a great deal of excitement for how traders can get their hands on their share of one of the world’s leading cryptocurrency exchanges.
Going live on the Nasdaq this morning with the ticker name, Nasdaq:COIN, the company is expected to see a huge influx from investors trying to claim their stake, and at $250 a share, there are many who see opportunities for further growth from the exchange’s initial valuation.
The listing will be a real test of how much influence the crypto community is likely to have on the stock market — particularly in the wake of the WallStreetBets Gamestop stock price moves that sent many in the stock market reeling from coordinated buying power.
Coinbase at $250/share means it is valued at less than 10x Q1 annualized revenue.
Wall Street is about to see what crypto degens can do to something they want to own ??
— Pomp ?? (@APompliano) April 14, 2021
Where can I buy Coinbase shares?
1. Plus500
Using a reputed and regulated exchange is vitally important when buying a new financial product, as you can be sure you are buying the real thing. Plus500, founded in 2008 and currently offering 1,000s of stock and share options, is a great place to buy, sell and trade stocks, making it an ideal home for COIN stock.
2. eToro
As one of the leading cryptocurrency and stock brokers in the world, eToro is a fast and convenient place to purchase COIN* shares today.
Founded in Israel in 2006, eToro is one of the few significant competitors to Coinbase that was established before Coinbase back in 2012. The firm also recently announced its own plans to go public as the race to become the go-to cryptocurrency exchange takes off in force.
3. Capital.com
For an additional place to buy Coinbase shares, look no further than Capital.com. With a sleek and well-established footing in the stock market, Capital.com offers COIN stock to traders looking for quick and easy access to newly listed stocks and shares.
Will Coinbase stock rise in value?
Market experts are anticipating Coinbase stock will grow in value in the coming months and years but it must be noted that starting valuations are often deemed to be unreliable, so it is possible the stock will fall in price initially before eventually rising.
One thing that is for certain is that traders should not buy COIN, or any other stock for that matter, with the expectation that they will make their targeted profit levels quickly or easily, especially with uncharted waters such as these.
However, the fundamentals for Coinbase are very strong, having enjoyed 2.8 million visitors last month and generating an estimated $322 million in net profits in 2020 — the first time since 2017.
It should be noted however that we are currently experiencing a bull market for cryptocurrencies, so the likelihood that Coinbase generates less profit than this in the medium term remains a possibility.
The decision to invest, therefore, could be better taken with a more macro view on the cryptocurrency market as a whole, as new innovations happen in the space and institutional investment in crypto assets continues to grow over the next few years.
Brain Armstong, CEO of Coinbase, will be hosting a live YouTube livestream at 17:00 (UK time), so be sure to tune in if you are curious to find out more directly from the Coinbase team.
We'll be going live today around 10am Pacific on the YouTube livestream. Tune in! https://t.co/1O0aVmojdi https://t.co/4cE4qvxfq2
— Brian Armstrong (@brian_armstrong) April 14, 2021
What is Coinbase?
Coinbase is a cryptocurrency exchange founded in 2012 when Bitcoin was worth just $6. Having established themselves early, the exchange is one of the go-to exchanges for traders looking to buy and sell their crypto holdings due to its greater acceptance from traditional banks for processing cryptocurrency transactions; particularly in years gone by when banks were more hostile towards crypto transactions.
The company made headlines last year for offering to buy out employees that were uncomfortable with its new policy of political neutrality from its workers, leading some to walk away from the firm.
Coinbase was established with the goal to allow traders to purchase the underlying crypto assets and withdraw them to their own a walletsn — a practice that is now considered by some as a gold standard for cryptocurrency exchanges and brokers.
