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We all started with Coinbase, but when it comes to centralized exchanges, are they really the best choice?

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There are two types of people in this world: one, who adjust and adapt to what the system throws at them and the second, who take the bull by its horns and push it to run in the right direction.

 

Quite certainly, most people adapted to the 2007-08 global financial crisis that ensued due to the major banks mishandling their customers’ money. Some, on the other hand, decided to change the course of the financial system. And Bitcoin was invented.

 

Least did anyone know that a digital currency that was valued so low that it took a man 10,000 Bitcoins to buy one pizza in 2010 would become a global phenomenon in the years that followed.

 

At the time of writing, the overall cryptocurrency market capitalization sits at more than $348 billion. The 24-hour trading volume of all cryptocurrencies listed on exchanges worldwide according to CoinMarketCap is more than $355 billion.

 

This goes on to show the expanse of the cryptocurrency industry. And very few would disagree that the cryptocurrency exchange Coinbase has established itself as the de facto exchange, especially in and around the American region.

Coinbase’s Road to Glory

Three years after the creation of Bitcoin, the former Airbnb engineer Brian Armstrong set foot to ease the exchange of digital currencies in 2012. The startup soon became a part of the Y Combinator startup incubator program. The same year, in October, Coinbase launched its service allowing users to buy and sell Bitcoin through bank transfers.

 

By 2013, Coinbase had already raked in $30 million from major investors — Andreesen Horowitz and  Union Square Ventures — in its two funding rounds. It was an open display of the fact that Coinbase was into the cryptocurrency industry not to be just another exchange but to be the dominant industry p...

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