Coin Base is a platform based in San Francisco, California, founded by Brian Armstrong and Fred Ehrsam in 2012, It is possible to use it both on your cell phone and through the website, as many different platforms are the commissions that are generated by its use, when buying cryptocurrencies a commission of 1.49% is generated, when cryptocurrencies are sold by fiat the commission is 1%, while the transfer of assets to other virtual wallets does not generate a commission.
Coin Base is a place where you can buy or sell cryptocurrencies, one of its functions is that it offers users the possibility to use it as a virtual wallet in which they can store their cryptocurrencies, It provides a unique address where you can receive your cryptocurrencies, as well as making payments easily and simply.
Another of its uses is it works as an exchange with which credit cards can be linked to use your fiat assets to acquire cryptocurrencies, among the benefits offered by this platform are that the vast majority of digital assets are stored in a secure offline storage. , in addition the platform has a cryptocurrency insurance for which all dollar cash balances are covered by FDIC insurance, up to a maximum of 250,000 USD plus the currency base supports multiple cryptocurrencies.
NFT Marketplace Coin Base
The Currency Base platform-specific NFT Market arises as competition from other platforms such as Binance , FTX , Open Sea , the latter being the most famous that managed to accumulate more than 2800 billion dollars in NFT transactions alone, and This market was Launched as an option for NFT lovers to publicize their projects, Each NFT is stored in a block ledger, without the need for government intervention, banks or other entities to be traded or traded on Coin Base.
This platform uses the Ethereum cryptocurrency as a medium of exchange, which is the most common for NFTs trading. This new digitalmit marketplace allows users to create, buy, sell and promote non-fungible tokens. These assets, also known as NFTs, represent ownership, in digital format, of different works.
What is being sold is not the copyright, but a unique digital representation in the form of NFTs. It is no secret that any asset that can be tokenized and found interesting can cost thousands or millions of dollars, which is why many artists , corporations, newspapers, athletes and clubs have chosen to enter the NFT market.
A new future for Coin Base
Thanks to the launch of this NFT market , a new future opens up for the company as many eyes are focused on this modality and to be sure if the results will be positive as in the Exchange or in the virtual wallet, it is expected that this market will develop more and more more, increasing the currencies with which NFTs are managed, being able to accept even traditional fiat currency: dollars, yen, yuan, euros, among others.
The NFT market is new, NFTs could become the standard way in which all assets are traded, including physical assets such as Real Estate. It is already known that VIDEOS they cannot be freely exchanged in the same way as currency or shares. Each NFT token is unique, with its value assigned by the market or price requested by the seller.
Each NFT is capable of representing anything created, having the human imagination as its only myth, a photograph, a message, a piece of a video or a song, the options are endless, just think and tokenize.
Data on the momentum for Coinbase NFT is minimal today and it is a relatively new service, however the platform has proven that it can build a large and profitable business helping individuals and institutions buy, sell and bet on cryptocurrencies.
Coin Base initially decided not to charge fees for this service, thus proving the fact that it is incredibly rich and profitable. You can afford to waive fees to encourage volume so that after that happens they start enjoying the benefits of popularity, no doubt a successful and super smart move for your users to start trading their NFTs within the platform.
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