San Francisco-based cryptocurrency exchange Coinbase has recently reached the 30 million user mark, after adding 5 million in the last 10 months.
According to Bitcoin entrepreneur and startup investor Alistar Milne, the cryptocurrency exchange’s growth accelerated in 2017, when most cryptocurrencies saw their prices surge to hit a new all-time high.
— Alistair Milne (@alistairmilne) July 22, 2019
During the 2017 bull run bitcoin hit a near $20,000 all-time high, before its price started plummeting in 2018 to a $3,200 low. During the cryptocurrency bull run, Coinbase’s mobile app topped Apple’s App Store rankings for most popular in the finance category.
Since then, the cryptocurrency has been recovering. We can see from the graph that Coinbase’s growth accelerate with the recovery. In the last few months, Coinbase launched various products and services helping its growth.
Among them were its now-defunct Coinbase Bundle, Coinbase Earn which lets users earn various cryptocurrencies while learning about them, Coinbase Wallet which includes a decentralized application browser, and more.
Coinbase CEO Brian Armstrong has revealed that, in the future, he’s looking to expand beyond cryptocurrency trading, as he imagines the company as a universal platform for cryptocurrency adoption. Currently, the exchange is one of the biggest fiat-to-crypto gateways for those in the US.