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Coinbase is expected to grow big in 2019, as it will launch its multi-country trading platform in an "aggressive" campaign next year.
According to a report by the CNBC, the cryptocurrency platform has just announced that it is already expanding into several European nations such as Lithuania, Iceland, Andorra, Gibraltar, Guernsey and the Isle of Man. Expansion is part of global plans to do more in places that are closer to the jurisdiction of their existing bases.
Coinbase has recently opened a new office in Dublin, in response to their goal of accessing post-Brexit European countries.
Strategic campaign
The expansion plan is considered a very strategic move. According to Zeeshan Feroz, CEO of Coinbase in the UK, the company is set to expand into countries where cryptocurrency and blockchain startups are becoming popular.
In Gibraltar, for example, there is an internal licensing process aimed at encouraging blockchain technology providers to register and establish a base. Iceland, meanwhile, is taking a name in the mining cryptocurrency sector, described as "an electricity-intensive process that maintains the underlying blockchain network". Obviously, it helps the country to have an abundant renewable energy that keeps the machines running.
Forbes also mentioned Prague, the capital of the Czech Republic, as a cryptic hotspot. It claims to have the highest number of Bitcoin acceptance sellers who allowed a nomadic crypto to spend the summer last year. The country has vendors that accept BTC even in rural areas.
"I think we can expect a more aggressive approach towards us by adding more countries in the coming months," said Feroz. "Much of what we are doing here is driven by the needs of customers and what we are seeing in the market".
The Coinbase expansion plan is considered as a strategic move for the company as the startups linked to cryptocurrency and blockchain are becoming more and more popular. (Source)
An increase in the market
Coinbase was positively hit by the unprecedented peak in the price of Bitcoin last year, where the value rose to $ 20,000. Bitcoin actually exceeded $ 1 billion in revenue last year. Superfly Insights, a cryptocurrency analysis company, said that Coinbase practically grew during the December Bitcoin rally last year.
But all roses are not coming. Everyone knows that most cryptocurrency companies suffered heavy losses after reaching the $ 20,000 record, and now fell to almost 80% from December last year. Currently, Bitcoin is playing around the virtual value of $ 4000.
Last year the rally was determined by the fact that cryptocurrency brands have presented initial offers of coins (ICO), in which startups earn almost pre-selling new digital tokens. However, with the onslaught of these ICOs, many countries faced the repressions of the companies, most of which collapsed during the fall of Bitcoin.
He committed to pay for customers who use cryptocurrency
To further increase the marketing efforts of its cryptographic resources, Coinbase will distribute digital currencies.
According to Fortune, users of Coinbase will be able to earn some token of its digital currency assets called ZRX, simply by watching videos and doing quizzes. Although nobody expects you to get rich simply by answering surveys, this is a good way to make Coinbase better known.
The earned ZRX tokens can be used in a blockchain project called 0x, which offers a decentralized exchange for trading a wide variety of tokens. This is the way of Coinbase to educate the enthusiasts of the crypt about a new phase of the company that he also bought, called Earn. Earn money used to pay users small amounts of cryptocurrency for small marketing services rendered.
(Featured image by Marco Verch via Flickr, CC BY 2.0.)
