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"Coinbase is a Bank"

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bit85858585

is it? your thoughts please?

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Linkkoin

Cryptocurrency exchanges are not banks. Full stop.

Just as with regular fiat exchanges - you should use them only to get the crypto you want and take it with you or use it.

As well banks have interest rates, insurance of your funds which is required by the law...

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Jimmy

While I agree that cryptocurrency exchanges are not banks, it does appear that coinbase is moving toward a bank like business model.  I haven't read this anywhere, but I could see coinbase offering both exchange services and banking services in the future.

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Linkkoin
Dnia 18.04.2019 o 16:59, Jimmy napisał:

I could see coinbase offering both exchange services and banking services in the future.

 

Well technically many banks in the last couple of years introduced fiat currency exchange services, but so far we have not seen the opposite to happen. Wondering how authorities would approach such case, considering the volatility of cryptocurrencies. 

For now to be honest it is a bit hard to imagine someone taking a loan for 1 BTC until the end of 2020, now $5 400 borrowed, $35 000 in value to be paid back.

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kventin.upgrade
24.04.2019 в 19:24, Linkkoin сказал:

 

For now to be honest it is a bit hard to imagine someone taking a loan for 1 BTC until the end of 2020, now $5 400 borrowed, $35 000 in value to be paid back.

Is a reverse economy possible? I took 1 bitcoin for 5000 and I'll have to return 1 bitcoin for $ 100, for example)

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