In an announcement posted to its blog this week, Coinbase has launched a “Share” feature on its exchange app that allows you to share select information regarding your crypto portfolio. The only information options that a user can publicly disclose are price changes, portfolio allocations, education resources on the site, or information about crypto assets that are available to trade on that platform – not your actual account balances.
The largest U.S.-based cryptocurrency exchange believes that this “self-sharing” can empower retail investors to become more engaged with other members of the crypto-community to spur mutual learning. It also seems to be a way of engaging non-crypto friends and family members to help drive adoption of blockchain-based technology.
Coinbase states in its blog post that they wanted to simplify information sharing in a safe and secure way for users of its app who are interested in that type of utility. According to Coinbase, individuals only need to tap on the “Share” button – pictured below – in the Coinbase app on any asset price page or your portfolio page. You can then share those respective pages with your private network or on your social network.
It’s worth repeating that the feature is configured to only share price action, information about the digital assets available on the exchange, and your portfolio asset percentages – not your portfolio balance. To reverse the setting, you would go back to your portfolio, select “Share” and toggle to Private.
On The Flipside
- I honestly don’t understand the rationale for this feature, but Coinbase must have some market research to support it.
- The only thing I can think of would be that millennials and Gen Z tend to “overshare” via Telegram, Instagram, and TikTok – it’s possible those young users might like this “Share” feature.
Why You Should Care?
It’s a best practice to keep your investment amounts and allocations to yourself. Sharing those types of details publicly attracts the wrong type of attention to you and your family. Don’t let arrogant asset “flexing” result in a ransom abduction of a loved one.