For many people just starting to hear about cryptocurrency, it can be a complex and somewhat overwhelming topic. Especially after the December 2017 run-up of bitcoin (BTC), many casual observers found themselves wanting to get involved with this new craze. However, many were trepidatious. With stories of Mt. Gox circulating in the news just a few years prior, many wanted to be certain that their investments would be protected. But for those who weren’t familiar with crypto exchanges and wallets, the barrier to entry was a lot to handle.
Many of these people found Coinbase to be an invaluable tool. Simplifying the crypto process, it allowed nascent crypto investors to use fiat currency to purchase bitcoin. Eventually, Coinbase expanded to allow even more cryptocurrencies on its exchange. Coinbase’s acceptance of a coin, therefore, is often seen as a “make or break” moment. Its recent inclusion of Ethereum Classic made the cryptocurrency shoot up in value.
For the aforementioned reasons, many institutions are bullish on Coinbase. Making it easy for a regular person to become a crypto investor, Coinbase has attracted the attention of many well-known financial institutions. Right off the bat, the company has shown that it is interested in mass adoption and scalability. Not only has Coinbase continually upgraded its tools, making the app and website easy for regular consumers to use, but it has also taken special care to make sure that it’s following all of the appropriate rules and regulations.
In the sometimes shady world of cryptocurrency, these qualities can be a rarity. After all, before federal institutions start to bring in their blue chip clients, they’ll need to ensure that they are using systems that are completely legal and federally regulated. Coinbase stands out as one of the only crypto groups that has shown an interest in being truly compliant and opening up the market to investors who aren’t necessarily computer savvy.
Many investment managers seem to believe that even their normally conservative clients will not want to miss the next big run-up of crypto. Financial experts are saying that the first great institutional crypto craze will be powered by FOMO (fear of missing out), as investors will not want to lose out on the next big chance to score on cryptocurrency and profit.