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Bitcoin Brokerage Coinbase becomes Apple's App Top App Store, surpassing YouTube

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Coinbase, the largest brokerage and portfolio platform in the world. Cryptocurrency global industry, is now Apple's best application store application, surpassing YouTube, Facebook and Instagram.

Financial journalist and bitcoin Paul Vigna revealed:

Coinbase struggling to respond to the rapid growth of users

Earlier today, December 8, the Coinbase team reported that the platform was recording record traffic, causing delays in connections and other activities on the site.

"We are currently experiencing record traffic, which translates into slow client performance or connection problems with their Coinbase accounts, and we are actively working to resolve this problem as quickly as possible." wrote the Coinbase team.

The first brokerage platform and bitcoin wallet with more than 14 million users, Coinbase has become the essential platform for newcomers and occasional investors in the United States. The user base of Coinbase as well as other major exchanges often reach their peak amidst bitcoin rallies.

More recently, the price of bitcoin has surpassed $ 17,500, reaching an all-time high. Subsequently, the Coinbase trading platform has seen a sharp increase in user activity and user growth.

In those peak days, Coinbase had already added hundreds of thousands of users in the space of 24 hours. For example, on Nov. 2 and Nov. 7, Coinbase has logged more than 100,000 new users, representing more than a million users in November alone, according to data provided by Alistair Milne, a partner of the Atlanta Digital Currency Fund.

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The future of coinbase

On August 11th, the CEO of Coinbase, Brian Armstrong, announced that the company had secured $ 100 million as part of its IVP-led Series D funding round. At the time, Armstrong said that a significant portion of the capital and resources obtained in the last round of financing, which brought the company's market value to $ 1.6 billion, faced the rapid growth of Coinbase and GDAX.

"Coinbase has experienced unprecedented growth over the last year, and we have now traded more than $ 25 billion in digital currency for our customers, and we will use this new funding to continue to grow even further. Specifically, we will: Increase the size of our engineering and customer support teams to improve customer experience.Open a GDAX office in New York, investing more in our ability to serve institutions and organizations. professional traders. " wrote Armstrong.

If Coinbase successfully maintains the exponential growth rate of its users in the medium and long term, and the company develops proportionately with the evolving Bitcoin market, it will also have to provide services to the customer on an equal footing. with leading institutions in the finance industry, such as Paypal and Visa.

The main exchanges in South Korea, such as Bithumb and Korbit, have operated telephone lines and ATMs 24 hours a day, 7 days a week in the last 12 months. The direct customer service approach of the two South Korean stock exchanges has led to increased demand for bitcoin in the traditional finance sector.

As the leading application on Apple App Store and most used platform in the global cryptocurrency market, the company will continue to implement solutions to address scalability issues of the platform. in the main industries.

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