Over the past few years bitcoins have moved from a fringe currency to a legitimate means to transferring money, and big names are getting in on the action. Coinbase, a Californian online bitcoin  website that lets users trade digital bitcoins for hard cash, has announced the opening of a new licensed bitcoin exchange backed by the New York Stock Exchange. Coinbase’s new exchange is licensed in 24 states including New York and California, and are seeking further approval in the remaining 26. Coinbase will make money by taking 0.25 percent of each transaction, but for the first few months all trades are free.