DeutschIn the crypto space, the term Coinbase figuratively refers to the original source of all digital coins of a cryptocurrency.
When coins of a blockchain are newly mined, the block lists the origin of the cryptos with Coinbase. If this expression is found, the coins were created entirely new by the mining algorithm. The wallet address of the miner is listed as the recipient.
The crypto exchange Coinbase chose its name based on the term. Due to the identical name, confusions occasionally occur. However, it is important to know here that the crypto exchange has nothing to do with the creation of the PoW coins. Accordingly, miners do not receive their coins through Coinbase, Inc. – the full name of the company – but through the basic program code of the cryptocurrency.
What is the Company Coinbase?
The company is a platform for trading cryptocurrencies founded by Brian Armstrong and Fred Ehrsam.
Coinbase is a classic crypto exchange. Founded in 2012, the crypto exchange is now at the forefront of the industry. In 2020, the now publicly traded company recorded sales of around 1.14 billion US dollars.
With over 100 million users, Coinbase has more users than any other crypto exchange and is one of the few crypto exchanges in Germany to have a crypto custody license from the Federal Financial Supervisory Authority (BaFin).
Click here for the Coinbase crypto exchange review.
