Is Coinbase (NASDAQ: COIN) stock a steal?

I think its very important to not to look at your shares as a price asset but as a partial business ownership certificate. As such, you need to ask yourself how many competitors are present fighting for revenue with Coinbase? Also, you need to evaluate how easy or difficult for new companies to enter this space (barrier of entry). Based on this, I believe coinbase has a very difficult journey ahead to become a market leader.​​​

I wouldn't. For what it's worth, I'm a (long-term) crypto bull, so I don't hate crypto or anything ahahah.

Cons:

• Binance is still number 1 in the crypto exchange scene by a long shot (6x the 24H volume compared to Coinbase) and many other exchanges are growing rapidly to slowly eat Coinbase's lunch too.

• If a crypto winter hits (which it honestly seems like it's a 50/50 chance rn), trading volume and use of exchanges will fall drastically, effectively killing Coinbase's revenue (granted all other exchanges will also suffer but so will Coinbase).

Pros:

• Coinbase is based in the US (so it won't be closed down by the government)

• Coinbase is quite adherent to regulations and is fully SEC compliant and audited which is good especially with all the regulatory action being thrown around.