Coinbase Is Doing All the Right Things -- But I'm Still Not Buying Right Now
There are few companies in the crypto industry with as notable and impressive a reputation as Coinbase (NASDAQ: COIN). For more than a decade, the company has weathered multiple crypto winters and continues to provide users with an innovative and accessible way to invest in cryptocurrencies. In just the last year, Coinbase has made significant strides to diversify its revenue streams even as a bear market carries on.
One of the main ways Coinbase has attempted to combat its dependence on trading fees, its primary means of revenue, was with staking. In recognition of how staking can be complicated at times, Coinbase has revamped its staking services, which allow users to earn passive income while holding their crypto assets. In doing so, Coinbase generates profits by serving as the middleman to help facilitate the sometimes tricky staking process.
The company has also built out its products tailored toward institutional investors. Unlike retail investors, institutional investors typically have deeper resources, and Coinbase recognizes this potential as a way to pad profits. Coinbase offers products like Coinbase Custody and Coinbase Prime in an effort to provide institutional investors with easy and seamless ways to manage their crypto holdings.
Source Fool.com
