Coinbase, founded in June 2012, is a bitcoin wallet and exchange company located in San Francisco, California. Founded by Brian Armstrong and Fred Ehrsam, Coinbase allows people to exchange bitcoin for fiat currencies and vice versa – and has received $106 million in VC funding to date. Coinbase just announced that it now operates in 26 countries, where customers can instantly buy bitcoin.
While this capability represents but a step in the direction toward easier accessibility to digital currency markets, it is a positive development for the industry. Most experts recognize that every positive development that increases public awareness of and access to cryptocurrency brings the world one step closer to full acceptance of currencies such as Bitcoin and DNotes.
Beginning in October 2012, customers could convert their fiat money into Coinbase through a bank transfer that required them to enter their bank information. Coinbase received a first round of funding of $5 million, and by 2014 the company’s customer base had grown to 1 million users. Coinbase also formed business partnerships with Overstock, Dell, Expedia, Dish Network, Time Inc., and Wikipedia to empower those companies to start accepting bitcoin payments.
Coinbase then was able to add bitcoin payment processing capabilities for companies like Stripe, Braintree, and PayPal. Later in January 2015, Coinbase received more funding – this time $75 million – which included investments from the New York Stock Exchange, creating enormous buzz at the time. Other investors included several banks and USAA. Later that month, the company created even more buzz by launching a bitcoin exchange based out of the U.S.
Now Coinbase supports 3D Secure credit and debit cards, which free customers from the need to pre-fund their Coinbase accounts through bank transfers. This allows customers to receive bitcoin a
Originally appeared at: http://dcebrief.com/coinbase-provides-26-countries-opportunity-to-buy-bitcoin-instantly/