Coinbase is a digital currency wallet and platform where merchants, consumers and investors trade & transact in cryptocurrency such as bitcoin and ethereum. Coinbase is in 32 countries and has 20 million users, its reported revenue for FY2017 surpassed $1 billion, profit of $380 million. FY2018 earnings reported at $520 million despite a fall in trade volume due to the depreciation of cryptocurrencies. Bitcoin was trading over $19,000 in 2017 and is currently trading at about $3,600 levels on 18th January 2019, and back up to $12,900 levels as of 17th July 2019.
Coinbase originally launched with simplistic provision of purchasing and selling bitcoin through bank transfers, and subsequently allowed purchases through credit cards along with onboarding other coins. It has now diversified into launching a full trading platform for institutions and individuals, and also provides custodian services for such cryptocurrencies at its core.
*Valuations are estimates