written by reader Coinbase

By tapaspanda, April 14, 2021

Hi Fellow investors,
Wanted to hear opinion/views on Coinbase. Is it going to be good a investment?

This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.

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Travis Johnson, Stock Gumshoe
April 14, 2021 9:40 am

It’s likely to start trading at a ludicrous valuation for such a big company… but the interest in Bitcoin is so high and rising that it will probably shoot higher. Great company, huge US leadership position, and there’s something to be said for buying the pioneer/first mover company that has a big market share, but that doesn’t mean a $100 billion valuation is rational. A lot depends, of course, on whether this is a near-term peak for Bitcoin interest, partly led by the Coinbase IPO, or whether we see a meaningful dip, since Coinbase is almost guaranteed to be levered to Bitcoin prices like all the other crypt0-related companies.

Very curious to see how it trades. Happy as a customer, despite the fairly high fees that Coinbase charges, I might buy shares depending on the price, but I imagine it will instantly get away from what I feel comfortable paying.

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retiredrancher
Irregular
April 14, 2021 5:00 pm

Travis – it seems so many newsletters are hyping crypto as the way to riches, I am transported back to George Gilder and the cosmos and the lemmings to the abyss. I do believe in an alternative currency that can’t be manipulated and can eliminate the middle man for transactions. Can you recommend a good unbiased presentation of what is blockchain, bitcoin, etc and how to buy or how to participate (ETF) and the tax implications as well. If I buy a Tesla do I pay cap gains on my use of Bitcoin? Sorry for the “bloviating” but we could use a good discussion area to sort out the details

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mcarey
Irregular
April 14, 2021 10:31 am

Coinbase does charge a lot for FEES, but when you get an account in Coinbase you also have an account in Coinbase Pro. Coinbase pro has much lower fees than coinbase and a more robust (but more complicated) interface. You can also set Limit orders in Coinbase Pro which you cannot do in Coinbase. I used Coinbase for months before I realized I had access to Coinbase Pro. It was very easy to transfer all my crypto to CoinbasePro from Coinbase (same company) and I am very happy with it. The only gripe I do have is how limited Coinbase and CoinbasePro are with what Cryptos they handle. When you start using CoinbasePro you have the same login and password as with Coinbase.

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gumshoe3434
Irregular
gumshoe3434
April 14, 2021 10:40 pm
Reply to  mcarey

That is interesting. I have a regular coinbase account and did not know I could transfer to Coinbase Pro. How do I do it?

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