Is Now the Best Time to Buy Coinbase?
In this video, I will explain why this is the perfect time to buy Coinbase (NASDAQ: COIN) despite the recent crypto crash. Since its IPO, Coinbase is down 30% and is now valued at $ 46 billion, and based on recent earnings, that would mean the company is trading at a P / E ratio of just 16. Which in this market is quite cheap. For starters, Coinbase has never been hacked. There is nothing more important in the world of assets than security. Coinbase already has around 10% of the crypto market share based on its latest earnings report. It had $ 223 billion in assets under management, which is very impressive considering that there are thousands of exchanges. The custody part of Coinbase will be very important for its future. If large institutions start offering crypto assets and services to their customers, Coinbase would be the obvious choice. Cost reduction Coinbases fees are often criticized, and rightly so. They are unbearable. But if you think blockchain is inevitable, then trading volumes are going to increase significantly due to the additional volumes driven by the market adoption of new trading instruments. This should be enough to exceed the damage the cost reduction would have on the business. Keep in mind that Coinbase has been cutting fees for years while simultaneously increasing revenue. Crypto winter During bull markets, Coinbases business is booming. But during bear markets or crypto winters, not so much. We saw Bitcoin (CRYPTO: BTC) go from $ 60,000 to $ 30,000 in a matter of weeks. This could change drastically if decentralized services, DeFi (decentralized finance) and other blockchain-based services become mainstream. New decentralized services could symbolize themselves on the blockchain instead of seeking access to traditional stock markets. This is a positive point for Coinbase, as it means that multi-billion dollar companies will trade on their exchanges rather than going to traditional markets. This in turn will have a positive effect on the devastating crypto winter. Competition There are many crypto exchanges and services. But liquidity is the Coinbase divide, institutions get best-in-class fees, investors get best-in-class custody, and retail gets best-in-class usability. If a bank wants to offer crypto services, it will go to Coinbase. Going forward, Coinbase will become a one stop shop for everything crypto. I like to call it the NASDAQ of crypto. Watch the video below to learn more. * The share prices used were the closing prices of June 24, 2021. The video was released on June 25, 2021. This article represents the opinion of the writer, who may disagree with the official recommendation position of a premium Motley Fool consulting service. Were motley! 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