On September 27, 2018, the powerhouse exchange Coinbase announced the launch of Coinbase Bundle, one of the many new projects in their financial arsenal. As per its announcement on Medium, the exchange wanted to instill confidence in users (new or old) when dealing with cryptocurrency trading.
Another Feather in the Coinbase Collection
Coinbase’s approach to educating the masses on the cryptocurrency is simple and straightforward. The Bundle offered by the exchange contains all five cryptocurrencies listed on the exchange, namely, Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ethereum Classic.
The users can decide on how much cryptocurrencies they wish to hold. The exchange will calculate a “diversified portfolio of available cryptocurrencies,” depending on the current market cap at the time the user places an order.
Interestingly, the Bundles start at $25 and gives users the chance to own grouped cryptocurrencies as per their discretion. Following the purchase of the bundle, the assets in question are distributed in their respective wallets and behave similarly to independent tokens in a user’s digital wallet. This means that cryptocurrencies can be traded independently thereafter.
— Coinbase (@coinbase) September 28, 2018
Apart from the United States, the bundle is available for purchase to customers in the United Kingdom and Europe, as the price is consistent across all three jurisdictions.
The exchange does not have any maximum purchase price for the bundle; although it does have a limited daily purchase amount that differs from user to user. Depending on a user’s verification limits and account funding across, the threshold may vary.
How to Sell the Bundle?
Once the bundle has been transferred into a user’s Coinbase account, the cryptocurrencies are separated and transferred into individual wallets. For instance, a Bundle containing the share of bitcoin will end up in one’s bitcoin wallet while the others will move to their respective wallets. For users who wish to sell the Bundle, they would need to sell it separately and cannot sell the Bundle as a whole.
Apart from the Bundle, Coinbase has also introduced another feature: Coinbase Asset Pages. These pages are designed specifically as an educational tool so users interested in cryptocurrencies can attain more extensive knowledge of the sector. The Asset Page contains 50 listed cryptocurrencies, and the details included about the cryptocurrencies include historical trading data, description of the digital currency, current market cap, and functioning links to white papers.
Will Coinbase’s approach to educating people about cryptocurrencies help attract more people to the budding crypto sector? Let us know what you think in the comments section.