1 Stock With High Growth and Great Value
Cryptocurrency exchange Coinbase (NASDAQ: COIN) is now more than 46% off of its recent highs from November, amid a sequential slowdown and the overall market sell-off. Coinbase makes most of its money from crypto transaction fees, but it's exploring new markets. When you couple the company's competitive strengths and high growth potential with its new, cheaper value, Coinbase's recent slide could offer investors a great buying opportunity.
Coinbase aims to make it easy and affordable for anyone to buy or sell crypto – while taking a cut of each of those transactions for itself. Transactions provided most of Coinbase's overall revenue in Q3 of 2021, at $1.09 billion. But it's trying to start a subscription business that allows customers to trade without any fees, called Coinbase One. It currently offers another subscription, Coinbase Prime, that gives institutions advanced trading, analytics, and other features. And its Coinbase Cloud offers programmers the ability to use its own blockchain tools to build their own cloud applications. These three still-early efforts form its subscription and services segment, which only generated $145 million in Q3.
Coinbase's industry-leading, easy-to-use exchange platform helped it gain an 11.3% market share in crypto assets, making it one of the largest exchanges in the world. And this market share is not reliant on any single cryptocurrency.
Source Fool.com
