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Coinbase is trying to regain the top of the throne

Although Coinbase is praised for its ability to innovate, even in stormy market conditions, the feeling has grown that the prominent platform has begun to stumble, falling victim to the dissipation of the active scene of Crypto’s retail investors. However, Coinbase has made it clear that it intends to prosper in the midst of Bitcoin’s anguish (BTC).

Although the cryptographic market has suffered heavy losses in the fiscal year 2018, the spirit of the festival has still blessed Coinbase with its presence. For example, the new company based in San Francisco, known for its implacable innovation in the cryptosphere, recently embarked on its latest and unexpected venture, “12 Days Of Coinbase,” an obvious reference to the old Christmas song.

Through an announcement issued on Monday afternoon, Verity Coltman, head of Commercial Operations at Coinbase, revealed that the multinational company “spent 2018 focused on behind-the-scenes public service work,” but has not had much to publicly show. for your efforts.

However, over the next days, Coltman noted that Coinbase plans to launch a feature, which will support for altcoins, website updates, new features or others, every day.

Therefore, considering Coltman’s statement, it is evident that the lack of visible progress of Coinbase is programmed to change, with the advent of an unprecedented initiative that can make the platform get in the head.

On the first day of its campaign, Coinbase has presented a partnership with WeGift, a provider of digital gift card infrastructure. This strategic business relationship will allow Coinbase customers in the US U.S., USA UU And E.U. to buy a variety of gift cards, including those of Uber, Adidas, and Nike, using crypto coins compatible with Coinbase, namely, BTC and Ethereum (ETH). Commenting on how WeGift’s collaboration will reinforce the adoption of crypto, Coltman wrote:

“Customers who buy electronic gift cards do not enjoy withdrawal fees and bonuses of up to 10% on selected suppliers, which makes it easier than ever to use cryptography.”

Coinbase is trying to win over its competitors?

While Coinbase intends to reach the stars with this two-week program, it was recently revealed that one of its competitors, the pre-eminent technology and technology firm Square, has experienced a monumental rise to fame.

On Saturday, Miles Suter, a leading Bitcoin commentator, reported that Cash App, the Square equivalent of PayPal or Venmo, suddenly became the # 1 app in Apple’s iOS app store, a monumental achievement for any startup.

Although this development is not exciting in itself, the fact that Cash App (Square’s Cash) is natively compatible with BTC is undoubtedly a fact that played a chord with crypto diehards around the world.

Referring to his years of experience in the field of startups, the founder of The Block, Mike Dudas, recalled the Bitcoin rally of 2017, when Coinbase was in the skin of Square, adding that Cash App achieved the “unthinkable”,  especially considering the hegemony that PayPal and Venmo had established during the realm of payments.

However, the fact is that Square, led by Twitter CEO Jack Dorsey, remains enamored with cryptocurrencies and, in turn, will be a primary catalyst for Bitcoin’s growth in the coming years. As Matt Odell, a long-time Bitcoiner, doubles as a centralized payment service and a BTC provider, is much more relevant to cryptography than a stock exchange backed by Bitcoin (ETF).

However, it is unlikely that Coinbase, valued at $ 8 billion after risk financing, will leave without a fight. Only in recent weeks, the newcomer and the well-diversified newcomer has done everything possible to build on its extensive list of products.

For example, Coinbase’s head of coverage, Christine Sandler, made a guest appearance at Cheddar, a promising fintech store, two weeks ago to promote a cutting-edge enterprise offering. Sandler, discussing the matter publicly for the first time, noted that Coinbase recently launched an “agency-only” over-the-counter table to complement its traditional exchange business.

More recently, the firm apparently abandoned its strict listing policy, ox (ZRX), USDC, BAT (BAT) and ZCash (ZEC) in quick succession, before announcing its intention to “explore” support for 31 cryptographic assets. As did Rob Paone, better known as “Crypto Bobby” in the cryptocurrency community, Coinbase became “YOLO in about six months,” with the rapid addition of altcoins that are probably being carried out to attract more investors. to use a wide range of Coinbase products.

It all comes down to the fact that even the gold child of this industry, Coinbase, is not safe from the arrival of new avant-garde companies that are prepared to face cryptography.

Published inCryptocurrenciesFintech

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