Having a worth of about $1.6 billion, Coinbase is the world’s largest and most successful digital currency exchange. Starting in 2012, this company has taken over its competitors in a short period. Also, it has facilitated more than $50 billion worth of digital currency. So the question arises that who started this amazing company? Who is responsible for all of its success? Well, everybody knows the answer and it is Brian Armstrong. But no one knows about the hardships and sufferings he had gone through in making Coinbase a successful company. Let’s take a look at the success story of Brian Armstrong.
Early Life – Brian Armstrong
Born in California on January 25, 1983, Brian Armstrong had a keen interest in computer technology. He started to learn Java and CSS from his school days. While still in high school, he got his first job in San Jones and started designing websites for small businesses. However, In 2001, he moved to Texas and started studying Economics and Computer Science at Rice University, Houston. In 2006, he got his degree in Computer Science and soon got a job as an Enterprise Risk Management Consultant at Deloitte and Touche.
Pre-Blockchain Career
In 2003, still studying, he co-founded the UniversityTutor.com along with John Nelson. This website offers its services to a host of potential student clients and helps tutors create a tutoring enterprise. It also allows parents and teachers to find tutors of their choice. He got his degree in Computer Science from Rice University and soon got a job as an Enterprise Risk Management Consultant at Deloitte and Touche.
Blockchain Technology Career
In 2010, Brian came in contact with Bitcoin and soon realized that there were not many startups at that time. Being an eager participant in the enlargement of startup enterprises, he saw this as a great opportunity and started thinking to take advantage of this large market. This idea gave birth to Coinbase- the most successful cryptocurrency exchange in the world today.
Coinbase Takeoff
Brian wanted coinbase to be a bitcoin marketplace where people can easily purchase the cryptocurrency. The company started to provide bitcoin buying and selling services through bank transfers. Many investors showed interest and invest huge amounts of money in the company which allowed Brian to expand the size of coinbase operation. Fighting all the challenges and hurdles along its journey, coinbase kept growing and in 2016, more than 4.5 million people had accounts with the company. All this became possible due to Brian’s passion for alternative currencies and to build such a company that would attain the Unicorn Status as the first blockchain-related company. And guess what, Brian did it. In 2017, coinbase became the first cryptocurrency exchange to attain the Unicorn Status.
Currently, coinbase has a value of $1.6 billion and is the first-ever cryptocurrency exchange company that has a value of moiré than $1 billion. Looking at its success rate, it is estimated that coinbase will surpass the dollar as a reserve currency in the next decade.
Brian’s Determination and Passion
Brian always aimed big. After his graduation, he did a lot of small scale jobs here and there but was not satisfied because he wanted to achieve something better and bigger. From his school days, he loved business startups and had a zeal for establishing businesses. In High School, he and his friends went through a lot of business ideas making errors and blunders along their way. But he never loses hope and kept trusting on his abilities and ideas. These mistakes and failures served him well and shaped him to take serious business endeavors – the coinbase. Once Brain Armstrong said, “It was a good effort by everyone. Though we are not the best team in the league, we hunt pretty well.” This shows that even if you are not good at achieving the goals you want, keep working hard for that and on the day, you will get there.
Conclusion
Due to constant efforts and believing and in his abilities and plans, Brian Armstrong kept growing and expanding coinbase and made it the world’s largest digital currency exchange company. Today, Brian Armstrong has a net worth of $1.3 billion and is considered one of the most successful and wealthier persons in the USA.