As someone who has used the coinbase exchange, I am a fan of their platform.
I personally will not take up a position for several reasons:
1) This is the first crypto exchange that went public and therefore i am not sure how the volatility in crypto will affect the price of action of this stock, especially when ALTs can run on weekends too, whereas the $COIN stock will not be moving on weekends.
2) I prefer to keep my crypto and fiat seperately and thus i use other exchanges to buy and sell BTC, ETH and other cryptos.
3) I think the stock is already overvalued and i dont feel attracted to the stock at this price levels.
4)Lastly, and maybe the most personal reason, is the fact that i think this is hypocretical. Crypto is supposed to take over the current fiat system in the world, including decentralized finance but the largest crypto company, $COIN, is going public to get fiat money on the NYSE.
FOOD FOR THOUGHT.
DYOR.
I personally will not take up a position for several reasons:
1) This is the first crypto exchange that went public and therefore i am not sure how the volatility in crypto will affect the price of action of this stock, especially when ALTs can run on weekends too, whereas the $COIN stock will not be moving on weekends.
2) I prefer to keep my crypto and fiat seperately and thus i use other exchanges to buy and sell BTC, ETH and other cryptos.
3) I think the stock is already overvalued and i dont feel attracted to the stock at this price levels.
4)Lastly, and maybe the most personal reason, is the fact that i think this is hypocretical. Crypto is supposed to take over the current fiat system in the world, including decentralized finance but the largest crypto company, $COIN, is going public to get fiat money on the NYSE.
FOOD FOR THOUGHT.
DYOR.