Cryptos Land: Coinbase registration breaks record after CME announcement

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Saturday, 4 November 2017

Coinbase registration breaks record after CME announcement

Coinbase one of the largest and oldest Bitcoin exchange reported registrations of over 100,000 in a single day into its database after Bitcoin futures announcement by ETF. Coinbase provides a platform for users to buy Bitcoin, Ethereum and Litecoin with fiat and also option for withdrawal in cash.

The move came as CME Group one of the largest futures option trading marketplace announced it plans to add Bitcoin futures by end of this year. The announcement led to a surge in Bitcoin price as investors run to buy Bitcoin at whatever price they can. Bitcoin price increased from $6500 to $7400 with in 72 hours with an extreme bullish trend.

About 100,000 new users signup for Coinbase after Tuesday announcement, according to public data compiled by Alistair Milne, the co-founder and chief investment officer of Altana Digital Currency Fund. As of now Coinbase boasts a user base of 12,000,000.
Coinbase user
Source : Coinbase, Alistair Milne
The CME announcement will give more investors option to buy Bitcoin without actually holding it specially those who are restricted from directly purchasing Bitcoin.

Coinbase was founded in 2012 with its headquarters in San Francisco, California. Over time Coinbase has started supporting Ethereum and Litecoins which also lead to increase in their prices and investors. You can exchange your fiat money into digital asset using Coinbase in 33 countries.

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