Coinbase Making Money Moves

Coinbase is back again with another acquisition - this time of a decentralized exchange known at Paradex. People have been speculating what tokens Coinbase will eventually be adding to their service aspects of decentralized exchange --this opens the possibility up to every ERC20 token. Paradex is built on 0x, a decentralized open protocol, that facilitates low friction peer to peer exchange of ERC20 tokens on the ethereum blockchain. Many established projects are either built on or will be using the 0x protocol. Some of which include Augur (REP), district0x (DNT), Maker (MKR), and Request Network (REQ).

In other news, Coinbase has just announced Coinbase Pro, which is a rebranding of GDAX with enhanced trading tools. All of your GDAX data and funds will be available on Coinbase Pro, but GDAX will officially retire and all data will be rolled over to Coinbase Pro after June 29th. From the blog post, it states that it will be easier to deposit/withdraw along with improved charts to help view historical data.

The blog post also goes on to talk about their vision moving forward.

We are dedicated to building Coinbase Pro into not only a world class cryptocurrency exchange, but also a platform for active crypto traders. By enabling both investments and the utilization of cryptocurrency, we’re offering customers a unique opportunity to begin truly participating in the cryptocurrency ecosystem. For example, our vision is to give customers the ability to participate in services like staking and protocol voting that are distinct to crypto. As the decentralized ecosystem advances, we expect there will be many more opportunities for customers to interact with digital assets in new and unique ways.

Two big points to take away from this - Coinbase wants to allow staking and protocol voting. This is huge - assuming that when Casper FFG comes we will have both of these options at our disposal. This would make staking easier to the everyday investor, instead of having to run their own personal node or joining some sketchy staking pool. We will keep our ears open for new details of how staking will work.

Coinbase has also recently announced the Coinbase Index Fund and Coinbase index. Coinbase Index Fund is a index fund which houses all four coins being traded on GDAX (or Coinbase Pro). This includes Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). The fund is open to US accredited investors and a minimum investment of $250,000 with a 2 percent annual management fee.

With all these extra features, both casual and hardcore investors can look forward to trading with ease.

Cheers,
The Blockchain Musketeers

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