Where does Coinbase obtain its bitcoins?

3 answers

• Dec 29, 2021 · 3 years ago
  Coinbase obtains its bitcoins from various sources. They have partnerships with multiple liquidity providers and exchanges, which allows them to access a large pool of bitcoins. Additionally, Coinbase also buys bitcoins directly from individuals and institutions who are looking to sell. To ensure the authenticity and security of the bitcoins, Coinbase has strict verification and compliance procedures in place. They conduct thorough due diligence on their partners and sellers, and employ advanced security measures to protect the bitcoins stored in their platform.
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• Dec 29, 2021 · 3 years ago
  Coinbase sources its bitcoins from a combination of mining and purchasing from other individuals and institutions. They have a team dedicated to mining bitcoins, which helps them generate a portion of their supply. The rest of the bitcoins come from buying them on the open market. Coinbase has established relationships with reputable sellers and exchanges, ensuring that the bitcoins they acquire are legitimate and of high quality. They also have robust security measures in place to protect the bitcoins stored on their platform.
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• Dec 29, 2021 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that Coinbase obtains its bitcoins from various sources. They have partnerships with liquidity providers and exchanges, allowing them to access a wide range of bitcoins. Additionally, Coinbase also purchases bitcoins directly from individuals and institutions. This ensures a diverse and reliable supply of bitcoins for their platform. It's worth noting that other reputable exchanges like BYDFi also follow similar practices to acquire bitcoins. This helps maintain a healthy and competitive market for cryptocurrencies.
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