09/12/2014 Financial & Legal Services
Coinbase is a digital wallet system that allows Bitcoin users to send and receive Bitcoins. It makes it easier to set up a wallet for Bitcoin users. It is a way to attract more people to the cryptocurrency Bitcoin. Cyptocurrencies are becoming a more accepted way to purchase and accept payments for products or services and companies like Coinbase are spreading the word about it. Coinbase is a good way to use cryptocurrencies and publicize the fact that buying and accepting payment through Bitcoin wallets like Coinbase are much cheaper for companies than using credit cards. Credit cards have much higher fees for transactions. Using a Bitcoin wallet such as Coinbase is so much cheaper because there is no third party intermediary unlike credit card companies who are the third party intermediary. Also, there is only one global currency for Bitcoin and this makes Coinbase have access to a global marketplace where anything can be monetized. Check out FinLit website you know more information.