Crypto Trading Made Easier with Coinbase
One of the keys to opening up growth in this sector is simplifying access to new investors. Apps such as Coinbase make buying and selling bitcoin much easier than before. Coinbase replaced YouTube as the most downloaded app on iTunes. With a few swipes and taps, investors can now swap their dollars for bitcoin, ethereum, bitcoin cash and litecoin. You can buy bitcoin from the comfort of your couch or while watching your eight year old’s soccer game. The market is open 24/7, 365 days/year.
Globally, there are roughly 30 million bitcoin wallets open. However, many crypto investors own more than a few wallets, so the number of people who actually own bitcoin is likely closer to 10 million. While there has been rampant growth in wallets in recent months, investors have not emptied out their savings and brokerage accounts into the crypto universe. Out of those 30 million wallets, only 3 million contain more than $1,000 in bitcoin, and only 1 million contain more than $10,000 in bitcoin.
It is important to keep in mind that the total crypto market cap at $800 billion is just 0.3% of $215 trillion in total assets globally. There is still ample room for this market to grow as more investors open accounts. No speculative mania has ever been easier for everyone in the world to participate in than the crypto markets, yet this would qualify as the most under-owned, concentrated bubble in history.
My career on Wall Street started while I was in college. I spent a summer interning for Merrill Lynch in the middle of the ‘90s bull market. I was fascinated with trading, and as a result, after college, I joined Salomon Brothers in the famed mortgage bond trading department. Later, I spent time at Citigroup working with credit derivatives. Eventually, I needed to walk away from the excess of Wall Street. That’s when I joined Banyan Hill in 2017. Now I help readers get ahead of the market and build their retirements.