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  • Writer's pictureWe Review Electronics

Coinbase has Tough Competition

Coinbase is great but is starting to lose users to the Robinhood and Acorns Apps

Although Coinbase is the world’s largest Bitcoin exchange app, and has many loyal followers, apps like Robinhood app and Acorns is slowly taking away some of their clients.

Coinbase allows you to buy Cryptocurrency in ways that many apps don't. For example Robinhood also allows you to buy Crypto but you are forced to buy one whole share or more, where as Coinbase allows you to buy a percentage of the share. As of today, 1 Bitcoin is valued at $5,179.09, not a price everyone can afford. But, with Coinbase you can buy $5 worth of a Bitcoin if you wanted to, instead of paying the full amount.

The problem for most is that there is a charge for every transaction, whereas with Robinhood there is no charge. If I'm buy a cryptocurrency value at $2 and I only want to buy one of them, I don't want to pay a $5 charge for a $2 crypto, which is the case with Coinbase.

Acorns is an app that takes your spare change from the transactions you make on a debit card and invests it for you. It's not a Bitcoin exchange but it allows you to make money automatically without thinking or working for it.

Robinhood allows you to also buy shares of stock at no cost per transaction, which is why it is currently the rated as the #1 finance app by customers on the iTunes store.

Only time will tell if Coinbase will continue to compete with the newer finance apps gaining populaity for long, or if they will be forced to lower their transaction prices in the future.

We recommend you try out the Coinbase app today.

Click below to watch Coinbase's Vision for the Future video.

Stayed tuned for more electronics news and information from us here at We Review Electronics. And don't forget to follow us on twitter at @WeReviewElectro.


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