With Coinbase IPO, here are top 5 currencies to buy on the crypto platform

So much is going on in the crypto world! Bitcoin breaching $64K, Dogecoin is already price 10 cents, NFT Investments raised £35M through London Stock Exchange, and now Coinbase went public on NASDAQ yesterday. 

In truth, Coinbase is the first devoted cryptocurrency startup to enter the US Stock change. The San-Francisco-based firm is one in every of the hottest cryptocurrency buying and selling apps and is listed beneath the image COIN. 

Stock market efficiency

On Wednesday, the firm’s inventory opened at $381, up 52.4% from the reference share worth of $250 set on Tuesday, valuing it at $99.6 billion (approx £72 billion). 

The shares climbed as excessive as $429 earlier than retreating to shut at $328.28, giving it a market capitalisation of $85.7 billion (approx £62 billion). On the identical day, Bitcoin touched an all-time excessive of $64,869 too.

Brian Armstrong, Co-founder, and CEO mentioned, “Today’s itemizing is a milestone, nevertheless it’s not as vital as each new day in entrance of us. Coinbase has an bold mission: to enhance financial freedom in the world. Everyone deserves entry to monetary companies that may assist them construct a greater life for themselves and their households. We have numerous arduous work to do to make this a actuality.”

What is a direct itemizing?

Notably, Coinbase went with a direct itemizing on the US Stock market, which is taken into account instead to conventional IPO. According to Investopedia, direct itemizing creates no new shares, and solely current, excellent shares are offered with no underwriters concerned.

“The direct itemizing is extra democratic,” mentioned University of Florida Professor Jay Ritter, an knowledgeable on the strategy of firms going public. “Individuals aren’t being shut out of the alternative to buy at the decrease supply worth.”

Revenue mannequin and income

Founded by Brian Armstrong, and Fred Ehrsam in 2012, Coinbase is a digital foreign money pockets and platform the place retailers and shoppers can transact with new digital currencies like Bitcoin, Ethereum, and Litecoin.

In phrases of income, the firm takes a small lower from the cryptocurrencies traded on its platform. The price often varies from area to area and from foreign money to foreign money.

As a results of the Bitcoin increase, the firm income elevated virtually tenfold to $1.8 billion (approx £1.3 billion) in the first quarter, with a internet earnings of $730 million (approx £530 million) to $800 million (approx £580 billion). 

However, the firm additionally warned its monetary prospectus relating to its efficiency, which is intently tied with the worth of cryptocurrencies, which are unstable.

According to Forbes, the firm’s income topped $1.28 billion (approx £929 million), 86% of which got here from these transaction charges, final 12 months.

Last 12 months, the firm launched Coinbase Card, a Visa debit card that enables crypto to be used for funds and purchases on-line and in-store in addition to for ATM money withdrawals.

56 million customers

At current, the firm has roughly 56 million verified customers, 7,000 establishments, and 115,000 ecosystem companions in over 100 nations. The firm employs over 1700 individuals throughout the world. 

Raised £408M

This firm has up to now raised £408 million from varied enterprise capital traders. According to New York Times, its largest shareholders embody Andreessen Horowitz, Tiger Global, and Paradigm, a crypto-focused funding agency. 

Furthermore, Brian Armstrong, owns practically 40 million shares in the firm, making his stake price roughly $13 billion (approx £9.4 billion).

Since Bitcoin’s worth sky-rocketed, there was a sudden surge in a number of altcoins as nicely. If you are late in the Bitcoin race, fear not! There are 1000’s of alt cash you may get your arms on. 

While lots of you may be pondering to or have already put cash in Coinbase, we at UKTN additionally took this chance to have listed the top 5 cryptocurrencies, in addition to Bitcoin, you possibly can buy now in Coinbase. Here you go:


Founders: Vitalik Buteri

Ethereum, which launched in 2015, is the second-biggest cryptocurrency by market cap after Bitcoin. But in contrast to Bitcoin, it wasn’t created to be digital cash.

It can be a decentralised computing platform that may run all kinds of functions. As per Ethereum Foundation, “Ethereum can be utilized to codify, decentralise, safe and commerce absolutely anything.”


Founder: Charlie Lee

Litecoin (LTC) is a peer-to-peer cryptocurrency that was arrange by Charlie Lee (a former Google worker) in 2011. It was designed to be used for cheaper transactions and to be extra environment friendly for on a regular basis use. 

Utilising blockchain know-how, Litecoin can be utilized to switch funds straight between people or companies.


Founders: Charles Hoskinson

Cardano is a proof-of-stake blockchain platform, the first to be based on peer-reviewed analysis. Cardano’s inner cryptocurrency is named ADA, which can be utilized for direct worth switch. Charles Hoskinson can be one in every of the co-founder of the in style altcoin, Ethereum. 


Founder: Hayden Adams

Uniswap is a decentralised finance protocol that’s used to change cryptocurrencies and tokens. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain by the use of good contracts.


Founders: Sergey Nazarov and Steve Ellis

Chainlink is an Ethereum token that powers the Chainlink decentralised oracle community. This community permits good contracts on Ethereum to securely join to exterior knowledge sources, APIs, and fee methods.

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About the Author: Daniel