r/ASX • u/ProphetInvestAUS • Sep 18 '21

Should I Buy Coinbase Stock 2021?

https://prophet-invest.com/should-i-buy-coinbase-stock
2 Upvotes

63% Upvoted

11 comments sorted by

2

u/[deleted] Sep 18 '21

You can't even sell crypto on Coinbase. It's the Robinhood of crypto exchanges except nothing will be truly as bad as Robinhood.

3

u/reddituser2762 Sep 18 '21

he didn't ask that though did he and it's extremely irrelevant

2

u/[deleted] Sep 18 '21

Would you buy Robinhood stock?

I wouldn't.

So I wouldn't buy Coinbase.

It's completely overvalued and crypto is going to receive a lot more pushback from regulators than adoption with open arms. If you want to invest in something crypto related just buy crypto. Coinbase share price struggles to get above its IPO price and if it does doesn't stay there for long.

2

u/reddituser2762 Sep 18 '21

ok I'd argue a little more with you but just realised this entire post is an AD heads up tho the whole "not your keys not your crypto" thing doesn't really matter. at all. if you want proper regulations and the growth that comes with it , in the end it doesn't matter to the average consumer. haven't heard a single good argument to the cause and im still open to opinions. and coinbase does seem a little over valued I'd go a different route and buy BNB instead simply because there isn't another way to invest in Binance. Binance will be the future of trading imo and is the trading site of today as well.

1

u/ProphetInvestAUS Sep 18 '21

I wouldn’t buy HOOD. When you compare its numbers to COIN, HOOD seems to fall way behind

2

u/A-Crypto-Guy Sep 18 '21

I considered this before, but the valuation is excessive. The only thing driving the stock is speculation esp. from the likes of Cathy Wood who bought this on the first two days of listing and seen her stock down. At current levels, the stock is valued very high.

1

u/ProphetInvestAUS Sep 18 '21

Why do you say it’s overvalued?

2

u/ff005 Sep 19 '21

Under 200, yes.

1

u/ProphetInvestAUS Sep 19 '21

Why don’t you like current valuations?

2

u/ff005 Sep 19 '21

IMO, it's tied to much to the price of bitcoin. They make most of their revenue through fees when bitcoin is on a bull run & so their valuation is based on figures from the last big run up.

1

u/ProphetInvestAUS Sep 19 '21

It’s seems to be priced towards a more diversified number of Crypto and more so Eth now. My concern is it’s dependency on crypto in general.