The world is in crypto fever. Bitcoin, Ethereum and Co. It has been climbing to unexpected heights for weeks. Anyone who joined the ship in March could easily double their money. The hype reminds us of 2017. At that time, cryptocurrency was suddenly the number one theme at work, at the bar, or in the sport.
In the midst of a cryptocurrency record hunt, Coinbase, a heavyweight company in the industry, was released to the public on Wednesday. For two days now, the largest US cryptocurrency exchange could have been bought as a stock.
Blick answers the most important questions about the current hype of cryptocurrency and the Coinbase IPO:
What is so special about Coinbase?
It’s a crypto exchange for everyone. Easy to use, easy and fast. That’s why Coinbase is very popular, especially with regular people. The trading platform was founded in San Francisco in 2012 and offers the most popular cryptocurrency. It’s also considered safe: Tesla founder Elon Musk (49), for example, has invested $ 1.5 billion in Bitcoin via Coinbase.
What does a Coinbase IPO mean?
It is the first cryptocurrency trading platform to enter the stock market. There is great hope in the crypto world. The Coinbase IPO is already being celebrated there as a breakthrough en route to the mainstream. One thing is clear: access to digital currencies is now easier for financial institutions and hedge fund managers. Cryptocurrencies are likely to go into the limelight. This, in turn, could attract more new investors.
How does Coinbase work so far?
A wonderful! Coinbase, valued at $ 100 billion, has made a great start in the stock market. The serving cost is currently $ 319. Meanwhile, Coinbase was more valuable than the owners of the New York Stock Exchange and Nasdaq combined.
Which cryptocurrencies are taking advantage of the hype?
Almost everyone. Of course there is Bitcoin, a pioneer in the industry. The rate has tripled since December. Bitcoin is now worth over $ 60,000. Even more impressive, however, are the so-called altcoins – the alternative currencies to Bitcoin. In the past few weeks, investors have managed to double their money using Ethereum, Ripple, Tezos, and Iota and Co. Not infrequently, these cryptocurrencies have grown by more than 1,000 percent during a period of a year.
When was the last fuss about encryption?
In 2017. At that time, prices rose over the course of weeks and months at a similar rate to what they are now. The bubble burst at the end of the year. Crypto courses sunk into the abyss. Many ordinary investors bet their savings.
Where can the Swiss invest now?
There are many cryptocurrency exchanges on the Internet. Therefore, utmost caution is required! The trading platforms that have been built over the years are considered safe. These include major US trading platforms such as Coinbase (Founded: 2012) or Kraken (Founded: 2011). You can also buy cryptocurrencies safely via Swissquote online. However, the choice of digital currencies there is very limited.
Available at retailers: Bitcoin – what is it anyway?(02:55)
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