My Bitcoin wallet ID

Coinbase, one of the premier bitcoin wallet services in the world, launched their new website design today so I am taking the opportunity to review their service and tell everybody that I think it is time to open a bitcoin wallet.

I say this not only because I opened my own, but because while the majority are still analyzing if bitcoin will be a valid currency or not, I say it is a store of value, an exchange mechanism, and a unit of account, therefore it is already a currency.

The question then is where to open a bitcoin wallet. There are many services based in many countries, but Coinbase is a very appealing alternative for the regular consumer who needs a smart and practical solution.

Coinbase is a bitcoin wallet, a place where you can buy, sell, send, and receive bitcoins, and a solution for merchants to get paid in bitcoins.

This is a description of the Coinbase bitcoin service features:

It is compliant: The company is based in San Francisco in the US and they are compliant with state and national regulations regarding financial markets and money transfer rules. This is very good in an environment where some services are struggling with regulations and some others are plain shady.

It is connected to the US dollar financial system: Coinbase makes a point of providing an easy way to handle, buy, sell, and pay with bitcoins. Their wallet account can be linked to your regular bank account and this makes it easy and secure to exchange bitcoins with dollars and vice versa and thus to transfer money between your bank account and your Coinbase wallet.

It is backed by the best VC’s and investors: The Coinbase founder team is brilliant and you can, but they also count with very strong backing of sophisticated investors like, , , and . They have all expressed the reason for investing in Coinbase was the smart strategy and potential of the company and bitcoin in general.

The CoinBase Wallet:

The wallet is like an account. You have an address for the wallet that works like an email address where you can send and receive bitcoins instead of emails. As you can see in the image above, on the wallet you can buy and sell, receive and send bitcoins, track your activity and account balance, and establish recurring payments. It basically provides all the services of a regular bank account, but with the access and benefits of bitcoin and the bitcoin global network