Mark Cuban is reliving the internet boom When he looks at crypto. The ‘consolidation phase’ is comin

Mark Cuban is reliving the internet boom When he looks at crypto. The ‘consolidation phase’ is comin

Mark Cuban is an American billionaire entrepreneur. He is the owner of NBA team Dallas mavericks and co-owner 2929 entertainment LLC. His current worth is 4.3 billion dollars being one of the main sharks on shark tank.

 

Cuban is also a preacher of cryptocurrency dogecoin. A huge part of his wealth is invested in dogecoin. He even accepts it as a mode of payment in the transactions related to his basketball team Dallas mavericks. He is one of the most influential people in the industry. He is also the bestselling author of How To Win At The Sport Of Business. Cuban has also been the winner of GQ men of the year in 2006.

 

In a recent interview with Fortune Cuban expressed his opinion on cryptocurrency’s boom and its comparison with a similar evolution in IT field which was internet and the dotcom boom in 2000s.

 

Also Read: IMF taking serious steps while the terror financing continues through Cryptocurrency

 

Cuban tweeted “Crypto is going through the lull that the internet went through,”. “The chains that copy what everyone else has will fail,” he also added “We don’t need NFTs or DeFi on every chain.”

 

Cuban through his tweet was trying to bring focus upon how the crypto currency industry is entering the imitation phase. The concept of decentralised NFTs is attracting more and more people everyday but that has also led to blockchains copying other blockchains which are already doing well. Cuban compared this with 2000s when the same was happening with website domains with startups copying ideas of other startups and launching identical products.

 

“Consolidation phase next,” Cuban said this in his interview with fortune, where copycat blockchains will die out. “There will be blockchains that, rather than die, get acquired or merge.”

 

 

Cuban, who made his wealth when internet was in its initial stages in 90s now majorly invests in crypto businesses. He believes that the biggest opportunity in blockchains and crypto currencies is for them to use contracts or certain sets of code to set instructions on blockchain. The companies and businesses that implement this will have much more advantage than others “The chains that realize this will survive.”

 

Once the account is verified you can then start trading through Coinbase Exchange. The exchange accepts 18 different fiat currencies and provides more than 100 crypto currencies to buy and sell such as Bitcoin, Ethereum, Dogecoin.

 

Coinbase wallet

 

Coinbase is an American easy-to-use cryptocurrency exchange which is trusted by over 73million users across the globe in more than 100 countries with 255 billion dollars in assets on platform. Coinbase first came out in 2012 and since then it has regulated billions of transactions, making itself one of the oldest and trustable crypto exchange. The crypto currency exchange has a wide variety of cryptocurrencies to buy and sell.

 

Also Read: European Crypto Industry steps up efforts influence EU Policy

 

To be able to start trading on the crypto exchange users need to verify themselves. Coinbase offers more than 100 crypto currencies and accepts more than 18 different fiat currencies. Some of the most traded crypto currencies on website are bitcoin dogecoin etc.

 

Coinbase offers many different ways for users to deposit and withdraw funds to complete the transactions. 

 

The minimum amount from which you can start trading is of just 2 dollars and the maximum can go up to 50000 dollars of per day limit. The different ways by which customers can accumulate their funds are through their bank account, debit card, credit card, pay pal, google pay, wire transmission. Customers can make direct payment or can even add money in their Digital Coinbase Wallet for the quick transaction.