Cryptocurrency is the talk of the town these days. It is not surprising that Coinbase, a famous cryptocurrency exchange, has succeeded in gathering more users than the world famous brokerage firm, Charles Schwab.

Charles Schwab had 10.6 million users at the end of 2016, while Coinbase now boasts more than 13 million users on its digital platform. However, one should not be confuse the number of users with the scale of success, as the amount of assets controlled by Charles Schwab significantly outweighs that of Coinbase.

The significant number of users that have started following Coinbase gives a picture of how fully cryptocurrency is being accepted in the population. Reaching a user base of 13 million is not a simple feat and should be hailed as a huge success for the crypto market as a whole.

This is a positive step towards the normalization of the cryptocurrency in our society. A large number of users joined the Coinbase exchange during the cryptocurrency boom throughout this year. The user base of Coinbase should set the rumors of "Bitcoin being just a sham," to rest, earning the right to be dealt with in a professional manner from now on.

However, there are still challenges in the crypto realm and the exchanges are facing a hard time while accommodating the huge number of people that are taking interest in the new investment. Users have reported that it is taking more than a week to make an account on Coinbase. The reason behind the lag maybe the new "Know-Your-Customer" laws.

Whatever the reason may be, the users are not satisfied with the performance of Coinbase,and other exchanges. They are complaining of repeated connection resets and other issues. Such problems are unacceptable when it comes to financial exchanges ,as speed is one of the most important characteristics of these digital platforms.

If a user cannot lock a trade in an instant then they may face losses amounting to thousands of dollars. The 13 million mark may be a significant milestone for Coinbase, and should be considered a positive step in the acceptance of cryptocurrency. However, these platforms should make sure that their customers are getting what they expect and deserve.

What the customers deserve is a secure and efficient platform that will not crash or reset when the customer is about to make an important trade. Coinbase needs to immediately rectify this issue unless it wants to start losing customers. As it has been observed in history, one is never too big to fail if they don't treat their customers right.

To learn more about Coinbase, view our Coinbase review.

DAOCON 2023

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