The Case for Coinbase A Beginner Platform
The Case for Coinbase A Beginner Platform
Some of us are still fairly new to the crypto investment sphere, while others are not sure where to start. One of the best ways to invest in crypto currency is to simply buy and hold the token we have purchased. Perhaps when we first started investing in crypto for the first time, we were still learning about the electronic coin market. One of the downfalls of this process is to not be able to understand market signals to make the correct exit entry decisions, and leaving money on the table in a particular market cycle. It is for this reason that Coinbase is one of the best platforms that will allow us to purchase crypto, and hold it for as long as we think profitable. There are other platforms that allow us to simply buy, although not necessarily hold on the platform itself, but a wallet instead. A quick Brave search results in other options we can use like Coinmama or Binance. At some point we would need to further study these platforms to better understand how they could benefit us, and how they compare, and contrast with Coinbase. For now we will focus on Coinbase exclusively by highlighting the Coinbase site features that make it one of the leading investment platforms in the crypto market.
- An easy to understand platform
If we visit the Coinbase platform on their website https://coinbase.com, we will see a clear cut design. Like other Coinbase related platform, Coinbase does provide a mobile friendly application that we can easy download into our smartphones. The Coinbase smartphone application is more intuitive than their website accessed through a PC, Tablet or Laptop. This is because of the nature of applications, but if we check out the Coinbase App, we will see four features that with just the click of a button its easy to navigate the site. Home, Portfolio, an easy double arrow feature that allows you to instantly Buy, Sell or Convert a given crypto into another. Followed by Prices, and Settings. One of the nice features of Portfolio, is that we can easily see, the total sum we have invested in dollar value, followed by the crypto assets denominations in the form of the portfolio we hold.
On the other hand, the platform accessed via a computer would provide us with four basic features found at the top left hand of the Coinbase site. The Home feature would provide us with a line graph that shows us how the given portfolio we own has performed based on an hourly, 24-hr, 1-month, 1-week, 1-year, and at all times. Then, you will find an email invitation we can send to our friends, where we would both get $10USD just for signing up. The next section provides us with tiny line graphs of all the crypto we have ever invested in, and are currently following. Each graph shows us how the particular crypto has performed, and the line graphs show us a coordinated overall evaluation of the price action of the crypto in question.
Most websites provide a summary of all that is included in a particular website at the Home Page. This is why it may seem like repetitive information once we navigate other links of the website. However, it is useful to always have a compacted view of everything the site offers, and Coinbase does this very well. At the button of the page there is another portfolio summary, but this time around instead of the line graphs provided at the beginning of the Home page view. How useful for us is this next piece of information so that we may ideally invest based on market performance. At the portfolio graph we see a descending order view of our Portfolio with a percentage distribution that shows how vested we are in each given crypto, at the button left hand-side of the Home page. There is also another graph at the right-hand send parallel to the Portfolio graph that shows us Recent Activity, and how much money we have earned on Staking qualifying crypto at the moment. Last but not least, let us praise the clean cut design the site has, and the white background.
- Portfolio Analysis Features
Let us keep in mind that the Portfolio feature offers us the option to add favorite coins that we can closely monitor without having invested in them. This is an important point of reference, if we want to enter the market in the near future. Coinbase is truly a gem of a site, within the Portfolio feature we can see the list of favorite crypto, and the token we are invested in. Once we click on one particular crypto token, the line graph appears in the Portfolio page of the Coinbase website. Coinbase could have chosen any other way to depict buying and selling information at a particular point in time. But the line graph is integrative, and complementary to the design of their website, and appealing to our eyes. The graph allows us to analyze the price movement of the token, and make valuable selling and buying decisions. Also, below the graph is one of the most valuable pieces of information Coinbase offers us, that is Trading Activity. This is so important because we can see whether Coinbase users are presently buying or selling a given crypto. It is a like a tipping flag Coinbase offers us, that we can choose to pay attention to, as a tool to make informative valuable selling and buying decisions on multiple tokens.
The Portfolio heading offers us so much more than just technical information, we know basically objective data. Other important characteristics are learning further about a given crypto. There is brief description of the token in question, and links to the website of the crypto currency, and its whitepaper. Other attributes of the Coinbase site is how you can see a summary within the Portfolio link regarding staking, if we can hold a given crypto can be held for such privilege. The Portfolio page also shows you the recurring purchase option, for buying that particular token at a future date continuously. Just in case we want to allocate a purchase of our salary to that particular project, after careful consideration. Below recurrent purchases is the recent transactions sub-heading, where we can see the adjustments made to our account based on staking. At the button left of the Portfolio page there is also a summary of assets that we can click on to see the information of the line graph, trading activity, and below the graph important information regarding a given crypto. At the time of writing we can see, “XRP has a Market Capitalization of $9.3B. Volume in the last 24-Hr is 1.6B. Circulating Supply is 43.4B. The all time high price of $3.84, Trading Activity inclined towards the buy-side for investors and traders, we can see a typical hold time of 88 days, and that it is the 5th most popular held token on Coinbase” [1].
- A way to closely monitor price
The next heading in the Coinbase website after Home and Portfolio is Prices. It is important for us to know that the Prices heading of Coinbase is synchronized with the Overview part of the Portfolio Heading, the second link after Home. The Prices heading offers as another Sophia idea, (Sophia means skillful in Greek). Prices correlated with other tokens at the bottom right hand side of the Prices Heading. How can we miss on this knowledge, and not take full-advantage? It can teach us that we can see which tokens move together based on how tightly together they are correlated. Listed as well is information regarding the crypto which moves against the one in question. We can see how profitable this could be to make buying and selling decisions regarding which assets to long or short against each other. For those of us that love to read we can find at the end of the Prices page a Top Stories heading with everything related to the fascinating world of Blockchain.
The Prices heading offers us three main sub-headings, Overview, Wallet and Vault. The Overview we have quite cover already, the Wallet is important because we can trade cash for crypto, deposit funds for crypto or trade one crypto for another. Now vault is what will allow us to save into a cold wallet our precious funds, if we have reached whale status of course. The overview feature initially shows us how the market has moved based on what crypto we own. The design of this page is unique in that it easily allows us to understand information.
- A Way to Engage Others
Coinbase offers us the chance to invite our friends to try the site, and it offers us a customized link on the Invite friends page [2]. For those of us who have not signed-up to Coinbase yet link number 2 will help you with the signing process, and we will both be rewarded $10.00USD. Keep in mind that this reward is effective only if we buy or sell more than $100.00USD in a given crypto, and there may be a waiting period before the entry is posted on our behalf. This is pretty good because if we want to sell a token from another site, we can transfer it using our wallet to the Coinbase wallet of the currency of our choice on our personalized Coinbase website. Let us remind ourselves to always read further into everything that says, “learn more” [3].
- A Learning Environment
Whenever Coinbase lists a new tradable crypto currency, it also allows us to learn about that particular crypto, while being able to earn an award. This next topic is one worth studying further that is of course the Earn Free Crypto With Coinbase Earn section of the website [4]. At the present time we can earn up to $186 transferable dollars, if we manage to have people use our referral link. How important this feature is for Coinbase, because the creators have taken a step in the right direction. That means that anyone visiting and signing up to Coinbase can be educated about different unique coins. Link 4 will allow us to learn about Orchid for example. The majority of the funds we receive from “Earn Free Crypto With Coinbase Earn” stems from referrals, cheers if our crypto adverse baby-boomers loved ones listen. If we want to further learn about EOS for example, here is an invitation code [5]. The next link is for Stellar Lumens, which we may note moves tightly together with XRP [6].
References
Link 1: https://www.coinbase.com/price/ripple
Link 2: https://www.coinbase.com/join/vasque_tu
Link 3: https://support.coinbase.com/customer/portal/articles/683805
Link 4: https://coinbase.com/earn/oxt/invite/z6ctx5js
Link 5: https://coinbase.com/earn/eos/invite/d3vqn51m
Link 6: https://coinbase.com/earn/xlm/invite/7y6drx3m
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of steemit. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. It is recommended in mainstream not to invest money you cannot afford to lose.