Indeed, cryptocurrency has not gained total adoption it needs globally, but there are evidences it’s progressing day by day. Digital currencies are accumulating trust, giving big names like popular sport and music celebrities to plunge in and invest.
American Tennis player and winner of 23 Grand Slam singles, Serena Williams, recently took to Instagram to reveal her newly launched investment firm, Serena Ventures, where she laid claim to investing into over thirty companies that includes Coinbase, a U.S.-based cryptocurrency exchange.
Serena stressed in her post that the venture was lunched with the mission of giving opportunities to founders across a collection of industries. The professional tennis player revealed her keen interest in companies that promote basic needs that keep society growing.
Serena’s investment in Coinbase is a means to fast-track the adoption of cryptocurrency in the heart of both Americans and global wealthy celebrities due to the figure she represents in the world of sport.
The Purpose of Coinbase
To trade in cryptocurrencies, a platform is needed to be created, which will stand as a means of communicating with digital currency network. Coinbase technically stands as intermediary when attempting to communicate with blockchain and store cryptocurrency.
Coinbase is referred to as Digital Asset Exchange Company (GDAX) because it provides an avenue to trade digital currencies and also helps in sending information about all transactions completed to the blockchain network for verification.
Also, Coinbase represents a wallet where any cryptocurrency can be stored, with an application that converts Bitcoin (BTC), Ethereum (ETH), and other digital assets with fiat currencies in 32 countries.
Coinbase has reportedly completed the exchange of over $50 billion worth of cryptocurrency and have served over 10 million invertors around the world.
How to Trade Cryptocurrency with Coinbase
To buy and sell cryptocurrency using Coinbase, linking to bank account, debit or credit card will be needed to fund your account. Have it in mind (while using bank account) that the transaction verification will be delayed for almost four days which would attract higher transaction fee.
The same delay applies to selling Bitcoin (BTC), it could also take 4 days before you receive the bank alert of the sale you made.
There is advantage of lower limits while using credit or debit card, all you have to do to purchase digital currencies is to fund your Coinbase account from your bank using your valid card, which will reflect in your wallet immediately.