Coinbase Was Adding 50,000 Users a Day, Says CEO Brian Armstrong

Francisco Memoria
  • Coinbase's CEO has recently revealed its exchange was adding 50,000 users a day last year.
  • He didn't reveal how many it's adding now, but noted the company grows along with bitcoin.

Coinbase, one of the leading cryptocurrency exchanges in the world, was reportedly adding 50,000 users a day last year, when most cryptocurrencies surged to their all-time highs. Per its CEO Brian Armstrong, the company’s growth is accompanying that of the flagship cryptocurrency.

Speaking at the Bloomberg Players Technology Summit in San Francisco, Armstrong revealed the exchange was adding about 500 users a day when it started. After enduring its first crypto bubble, it was adding 5,000, and ended up adding 50,000 per day last year.

While Armstrong didn’t reveal how many users the company is currently adding a day, he noted bitcoin’s price has gone through a series of bubbles, each one reaching a new plateau. While people’s expectations quickly hit “irrational exuberance,” he said, the technology is still developing.

People’s expectations are all over the map, but real-world adoption has been going up.

Brian Armstrong

As for adding new users, Armstrong believes owning a piece of the technology - some bitcoin – will help people learn about it and understand it. The CEO further revealed his cryptocurrency exchange has helped users trade $150 billion worth of crypto last year, and that it now has about 1,000 employees.

During his interview, Armstrong was asked whether Berkshire Hathaway CEO Warren Buffett and JP Morgan CEO Jamie Dimon were wrong about bitcoin. Buffett, as CryptoGlobe covered, called the flagship cryptocurrency “rat poison squared,” while Dimon claimed it was a “fraud.”

Although Dimon later on claimed to regret his comment, Buffett and his lieutenant at Berkshire Hathaway, Charlie Munger, maintained their position comparing it to “turds” and “dementia.”

Per Armstrong, both are wrong about bitcoin, although their positions are understandable as most are initially going to be skeptical about new technologies. Now, however, he believes it’s getting harder to find cryptocurrency skeptics, although he estimated that about 10 percent of cryptos are used in real life.

He noted:

I think it will be quite some time before you cross the street to Starbucks in the U.S. and pay with crypto.

Brian Armstrong

As CryptoGlobe covered, the Intercontinental Exchange’s Bakkt will have Starbucks as its “flagship retailer.” The coffeehouse chain won’t, however accept bitcoin at its stores, as it will be accepting cryptocurrencies converted into US dollars at Bakkt.

Recently Coinbase has been upping its offers to institutional and retail investors. It recently halved its Index fund’s fee from 2% to 1%, to make it more attractive, and added support for new features at its decentralized exchange.

As covered, falling cryptocurrency prices saw the San Francisco-based exchange’s popularity decline. Its app was the top finance app in the US back in December, and fell to 40th place in June, as the flagship cryptocurrency plummeted from a near $20,000 all-time high to about $6,440 at press time, according to CryptoCompare data.

Opera Expands '30-Second' Cryptocurrency Wallet Top-Ups to Europe and Other Countries

Michael LaVere
  • Freeware web browser Opera has announced major updates for its built-in crypto wallets. 
  • Opera is partnering with Wyre to offer direct crypto purchases through the browser wallet. 

Popular pro-cryptocurrency web browser Opera has announced major updates for its blockchain-based browser on Android systems, including expanding . 

Opera, the world’s first Web 3 ready browser and the first to introduce built-in crypto wallets across mobile and computer devices, has announced major updates for the Android version of its browser. According to a press release shared with CryptoGlobe, the Norwegian-based company is adding several new features, including an expansion to the entire EU, Australia, New Zealand, Mexico and Switzerland of seamless wallet top ups, allowing users to buy cryptocurrency directly from the built-in wallet. The feature was already available for U.S.-based users.

Opera is giving users access to cloudless, decentralized web networks through IPFS-protocol support, which the company claims will change the way data is accessed online. The web browser is also allowing users to register .crypto domain names and wallet addresses to easily send and receive cryptocurrency, via a partnership with Unstoppable domains.

According to the press release, Opera is partnering with U.S. cryptocurrency-brokerage Wyre to enable easy cryptoasset purchases directly through the browser’s built-in wallet. Using a Visa or Mastercard debit card, users will be able to buy BTC or ETH directly from their wallets.

Charles hame, Head of Crypto at Opera Browsers, explained, 

Being able to acquire cryptocurrencies without having to go through an exchange, directly from the wallet makes the process easy for our users. Expanding this feature to more regions is key to driving blockchain-adoption.

Opera currently has more than 360 million users worldwide. the press release touts its monthly active user base increased by over 40% in the last half of 2019 year-over-year.

Featured Image Courtesy of Opera.