Coinbase Global Inc, a cryptocurrency exchange (ticker: COIN), has been the talk of the town for the past month. It went public on April 14th, 2021, via a direct listing. Explore more DPO Coinbase Facts here!
This blog is for Indian investors interested in Coinbase and COIN stock. This blog will tell you everything you need to know about Coinbase and how to buy COIN shares in India, starting at $1 with Cube Wealth.
What is Coinbase?
Coinbase is a cryptocurrency trading platform that allows you to buy and sell over 90+ crypto products, including Bitcoin, Ethereum, and Litecoin. It is digitally equivalent to NYSE, BSE, and NSE.Brian Armstrong founded Coinbase in 2012. It received funding from prominent VCs such as Draper Fisher Jurvetson and Union Square Ventures.
When an investor purchases or sells crypto assets, the platform makes money from transaction commissions and fees. These fees include a margin fee and a Coinbase fee, which make up 96% of the platform’s net revenue.
What is Coinbase Worth?
Coinbase revealed a lifetime revenue totaling $3.4 billion**. The company also revealed that Coinbase hosts assets worth up to $223 Billion.
These facts are why Coinbase Global Inc was worth $47 billion before going public at $250 per share. Since its $8 billion valuation in 2018, the company has seen a more than 80% increase in revenue.
The Fundamentals of Coinbase Inc
1. Fred Ehrsam & Brian Armstrong were the founders
2. Users: 56 million+
3. Quarterly Trade Volume: $335 Billion4. Annual Trade Volume: $456 Billion
5. Lifetime revenue: $3.4 billion**
6. Assets: $223 Billion
7. Products: 90+ crypto assets
8. Presence: More than 100 countries
**Valid as of December 2020.
Coinbase Competitors At A Glance
1. Binance
2. Bitfinex
3. Kraken
4. Up
5. Gemini
When did Coinbase go public?
After completing all formalities with the US Securities and Exchange Commission, Coinbase Global Inc was able to go public via a direct listing instead of an IPO.
The ticker symbol COIN was used to identify the company. It went live on Nasdaq and was almost 1.5x its initial listing value ($47 billion). Coinbase’s market capitalization was $64 billion at the time of publication.
Why did Coinbase choose DPO over IPO?
An Initial Public Offering (IPO) creates new shares that are underwritten and sold to investors by financial institutions such as banks. This is a costly process that can result in high bank fees.
Direct Public Offering (DPO), or direct listing, does not require the creation of new shares. An underwriter is not necessary to make the public offering. Instead, shares already in circulation are sold to the general public.
DPOs are cheaper than IPOs, and Coinbase chose to go direct because it was more affordable. Another famous company was Spotify (ticker SPOT). It went public via a direct listing.
NFOs are IPOs for mutual funds. These are IPOs for mutual fund mutual funds.
How did Coinbase stock perform on Nasdaq?
At a reference price of $250, the Coin stock was scheduled to go live. However, this was expected to rise within minutes of the COIN share going online. COIN jumped to $381 on 14/04/2021, as expected.
Coinbase was valued at $100 billion as of the first day it appeared on Nasdaq. Famous investors such as Ark Invest CEO Cathie Wood purchased upwards of $245 million worth of COIN shares.
COIN stock closed at $328.28 on the first day. This valued the company at $85 billion, more than the market caps of NYSE ($67billion) and Nasdaq ($26billion).
Hey! CubeWrap is the place to go for financial news that matters.
Coinbase Stock Fundamentals
1. Company Name: Coinbase Global Inc
2. Crypto Share Name: COIN
3. COIN Share Price: $329.19* – Rs24,718.09)
4. Market Cap: $64.29 Billion
Is it possible to buy Coinbase stock from India?
Yes, Coinbase stock can be purchased from India via a powerful app called Cube Wealth. Cube makes it easy to invest in US stocks. Cube’s method of doing it is:
- The cube can help you open a US brokerage with DriveWealth
- For as low as $1, you can buy US stocks such as COIN, MSFT, and AAPL.
Cube Wealth enables you to buy COIN shares in India.
- Download Cube Wealth
- Completion of your KYC
- Complete the LRS formalities
- Choose the COIN stock
- As little as $1
FAQ
- Is Coinbase publicly traded?
Ans. Ans. Its current value is $64 billion.
What is the Coinbase stock symbol?
Ans. Coinbase began trading on the Nasdaq under the ticker COIN. For as little as $1, investors can purchase COIN stock in India via the Cube wealth app.
- Q. Did Coinbase go public today
Ans. Coinbase became public on Wednesday, April 14th, 2021. COIN stock traded above its $250 reference price. At the close of the day, COIN stock was worth $328.28 per unit.
Q. How much is Coinbase stock?
Ans. Ans. Cube Wealth allows Indian investors to invest as low as $1 in COIN.
Q. Why is Coinbase so popular?
Ans. Coinbase, a cryptocurrency exchange that allows investors to buy and sell crypto assets such as Bitcoin and Ethereum, is very popular. Its popularity skyrocketed after it was listed on the stock exchange under the ticker COIN in April 2021.
