Coinbase Hit 10 Million Users - Struggles To Keep Up

Coinbase - A Success Story

Just about a month ago the U.S. Bitcoin Exchange Coinbase became the first crypto unicorn on the market. Brian Armstrong, CEO of Coinbase, announced those news after the last successful funding round of the company, which added $100 Million to the Pot and lead to an increase of the overall Funds to more than $1 Billion.

Coinbase is probably one of the most frequented Bitcoin Exchanges out there, adding thousands of Users every day and more than 800.000 just recently this August, through the increased exposure in the mainstream media. This being said its not very surprising news that the Platform just recently reached 10 million registered users with a total volume of more than $20 Billion in its exchange and wallet services.

Struggles on the Way to the Top

But this amazing success story as well lead to many struggles that Coinbase had to overcome or still to deal with in future. Legal disputes with the U.S. Internal Revenue Service (IRS) on the handling of client information or scaling issues of its business operations due to the fast growing user base are just some struggles that may be mentioned.

Besides those general issues it seems like the company definitely has to focus on the development of a professional customer service in order to improve the quality and reaction time on the increasing number of questions, claims, etc.

Luckily it seems like Coinbase is aware of all those issues and plans to resolve most of them within the next months. Knowing of the huge additional Capital they were able to collect just recently it should be possible for them to build a very solid foundation for the future and further upcoming challenges.