• The Coinbase platform creates a KYC system that guarantees traceable transactions.
• The crypto exchange has increased its share value by over 20 percent since June.
Coinbase has seen progress in its operations after several reconciliations and open offers. The platform shares have risen 20 percent since June when they fell due to the departure of customers caused by mistrust and interface errors.
The Coinbase company has been dealing with crypto investment management for some time. This platform is used mostly by independent companies and traders who have cryptos as their source of income. Although the crypto company is expanding in operations, its profits so far this year have been low.
Coinbase regains ground in the cryptocurrency market
Long before cryptocurrencies were born and brought a renewed financial market, problems with ransomware were present. On average, it is estimated there are over 3,000 internet robberies every day within North America.
Cyber-criminals have been updated ways to steal money from companies or people, and now, they target cryptocurrencies. This occurs because cryptos are decentralized currencies that cannot be traced.
However, Coinbase has created an analysis system based on the Blockchain network to locate these internet pirates. The search server will have the objective of linking the criminals’ wallets with their KYC system. In this way, police investigators can locate and apprehend the cyber-criminal.
The crypto trading platform created this system to regain credibility and make operations with Bitcoin or other tokens more reliable. The search system will also prevent illegal transactions from purchasing weapons, drugs, or other prohibited products. Under this new system, the platform regains ground in the crypto market, which is reflected in the rise of its shares.
Coinbase is associated with the IRS and other control agencies
Coinbase launches its transparent cryptocurrency transaction plan without forgetting which security agencies will benefit from it. The crypto platform agreed with the USSS and the internal services agency to use its virtual crook locator program. The cryptocurrency exchange works on good terms with the United States government.
Following the announcements, the crypto platform’s shares rose over 1,000 percent resulting in $2.033 billion in profit. Coinbase is ranked number 13 of the most used crypto platforms globally; it has over 80 cryptos for trading.
The crypto platform focuses on helping enthusiasts of these virtual currencies to buy, sell or exchange their tokens easily. Users can watch tutorials to learn a little about trading virtual currencies.