Why COBINHOOD is a strong competitor to Coinbase
COBINHOOD's free model could make a it a key competitor in cryptocurrency.
OPINION: Coinbase is known as one of the world’s leading cryptocurrency exchanges and wallet platforms. However, it seems that it now has a new competitor.
Coinbase is a dominant exchange, with 7.4 million users and availability in 32 countries. As a virtual exchange platform, it allows users around the globe to buy and sell the world’s most popular cryptocurrencies inclding bitcoin, Ethereum and Litecoin. Additionally, it provides merchant services as well as wallet services.
COBINHOOD is a cryptocurrency service platform created specifically for small-scale institutional and retail traders. However, while Coinbase charges fees which depend on the transaction, COBINHOOD uses a different model.
Coinbase doesn’t charge for its wallet service but transferring cryptocurrency to an address that is outside the platform will result to a network fee. COBINHOOD’s reason for providing a free high frequency cryptocurrency exchange platform is to help maximise the return on investment of all its users.
The currencies COBINHOOD supports include BTC, BCC, ETH, ETC, LTC, ZEC, XMR, XRP, COB, NEO, OMG, USDT, DASH, IOTA, EOS, REP and GNT.
COBINHOOD discloses all offline and online wallet addresses for public scrutiny in order to ensure that no embezzlement can take place on its platform.