Is bitcoin the most converted: coinbase study

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At the end of 2019, customers most frequently transfer BTC to Tezos, Chainlink, BAT, 0x and Stellar

Is bitcoin the most converted: coinbase study

Coinbase analysts conducted a study called “Around the Block”, which examined the continued dominance of bitcoin using an example of the behavior of customers of the Coinbase trading platform.

According to the study, Coinbase has mostly new bitcoin customers, diversifying their funds into alto stocks, especially during the mood of the market boom. This is possible for various reasons, but to a large extent the phenomenon is considered psychological.

As people feel good about their initial investment in cryptocurrency (in bitcoin), they start looking for other potential graded winners (as seen in the 2017 bull race).

In late 2019, Exchange customers most frequently moved BTC to Tezos, Chainlink, BAT, 0x and Stellar, and in early 2020 Ethereum, Tezos and Chainlink. According to data published in the report, the first acquisition of sixty percent of the exchange’s new traders is bitcoin.

However, only 24% of them continue to put their money in BTC, with the remaining 36% buying altcoins. Based on the foregoing, Coinbase analysts believe that in the near future, none of the cryptocurrency bitcoins are able to be footed.

The reference PAYSPACE magazine

Recall, recently in the financial sector, a personal source of shocks has appeared – a phenomenon that replaces the cryptocurrency exchange once in four years. This is, of course, about bitcoin halting. Created to protect the cryptocurrency ecosystem from over-inflation is an amazing financial phenomenon in itself.

Holting is a deliberate, sequentially reduced mining reward by half. This unique mechanism will virtually protect against bitcoin shortages. Read more in PaySpace magazine.

Read: Ukrainian police mined bitcoins on seized computers

By content: Soinbase


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