The Coinbase Bitcoin exchange is coming. The United States is about to receive its first licensed Bitcoin exchange called Lunar, a newly launched business vertical of Coinbase Inc.
The San Francisco-based Bitcoin Company, which recently raised a whopping $106 million funds from the New York Stock Exchange and multiple VC firms, promised their future customers the safest haven to sell/buy bitcoins.
Why is Lunar Important?
From the massive $400 million online theft at Mt. Gox to the very recent BitStamp hack where hackers stole $5 million from its hot wallet, each and every such event pushed seasoned and new Bitcoin investors out of the Bitcoin ecosystem. At this hour of need, Lunar is “literally” a masterstroke that could bring many optimistic changes to the market.
By being a licensed exchange, customers at Lunar will at least have 100% assurance of recovering their money in case an online theft takes place. Rest assured, it could even help Bitcoin retain some of its lost value. The trade market seems to have been reacting to this event already, where BTC/USD value has surged from $230 to $260 over the weekend.
Coinbase Bitcoin Exchange Expansion Troubles
According to the available reports, Coinbase has received licenses from around half of the US states, including the much stiffer New York. The company’s founders, who are still meeting state regulators, are hopeful to expand their Bitcoin trading services throughout the nation. They are even planning to expand overseas.
“Our goal is to become the world’s largest exchange,” said Brian Armstrong, the CEO of Coinbase.
To become so, they will have to watch out for another licensed US Bitcoin exchange that will going to be launched sooner or later by the celebrated entrepreneurs Tyler and Cameron Winklevoss. Their announcement came just a few days back.
Image Credits: Coinbase, Inc.