|Founded||San Francisco, California, United States (June 20, 2012)|
|Headquarters||San Francisco, California, United States|
|Key people||Brian Armstrong, (CEO)|
|Products||Bitcoin exchange and wallet service|
|Users||2,100,000 (Jan 2015)|
Coinbase is a bitcoin wallet and exchange service headquartered in San Francisco California, founded by Brian Armstrong and Fred Ehrsam. Users of Coinbase can buy and sell bitcoin at the current market rate with a bank transfer in both the United States and eighteen European countries for a fee of about 1% of the value of the transaction. Coinbase aims to make it easier for non-technical users to send and receive Bitcoin payments by offering an online wallet service for storing, sending, and receiving bitcoins; along with merchant services that enable businesses to accept bitcoin payments online, and fee-free micropayments between Coinbase accounts. To use the buy/sell service, customers have to provide bank details, setup two-factor authentication on a mobile phone and wait three days.
Coinbase has been noted for being one of the more user-friendly bitcoin exchanges, although it has been criticized for cancelled and delayed orders and unresponsive customer support. Coinbase has declined to provide payment processing services for U.S. marijuana businesses on the grounds that federal law prohibits it even if state laws do not.
In October 2014, Coinbase announced they are adding multi-signature technology to their vault product.
In January 2015, Coinbase announced its U.S. Bitcoin exchange.
In December 2013, Coinbase received a US$25 million investment, from the venture capital firms Andreessen Horowitz, Union Square Ventures and Ribbit Capital. The company has received US$31 million in capital investments, nearly one-third of the total publicly disclosed investment in Bitcoin companies made as of February 2014.
In January 2015, Coinbase received a US$75 million investment, led by Draper Fisher Jurvetson, the New York Stock Exchange, USAA, and several banks, "apparently the first time any traditional financial institutions have taken direct stakes in a bitcoin enterprise".
In December 2013, Coinbase became the bitcoin payment service provider for an online retailer Overstock.com. In January 2014, personal finance app Mint added integration with Coinbase, enabling its users to track their bitcoin purchases alongside their other expenses.
Breaches of individual Coinbase accounts have been reported, and users are recommended to enable two-factor authentication on their account.
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