Coinbase comes up with “Coinbase Bundle” to facilitate crypto trading
Well, planning to buy cryptocurrencies? Cryptocurrency exchange Coinbase has made your task easier by introducing a new offering called “Coinbase Bundle.” This was announced by the exchange in a Medium post on Thursday. The main aim behind this new product is to ease and simplify cryptocurrency trading and make it accessible for everyone.
So, what exactly is this Coinbase Bundle?
According to the blog post, Coinbase Bundle is a market-weighted selection of the five cryptocurrencies available to buy and sell on Coinbase. You can buy a bundle of 5 cryptocurrencies for as little as $25. The Bundle consists of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ethereum Classic (ETC); the smallest Bundle costs $25, £25, or €25.
The Bundle allocation for each of the five digital currencies is calculated based on the price of each currency multiplied by the supply of the currency in circulation at the time of the transaction.
While the crypto exchange has not set up a maximum purchase limit for a Bundle, it does limit daily purchase amounts on a per-customer basis. Once a customer has bought a Bundle, each type of virtual currency will be stored in their Coinbase wallet and can be bought, sold, sent or received as an individual asset.
The crypto exchange is planning to introduce this new offering in the U.S., UK, and E.U. in the coming weeks.
The post also goes on to add that the exchange is planning to host informational asset pages that will help people know and learn more about the top 50 cryptocurrencies in the world based on the market cap. Along with this, it is also launching a separate section called “Coinbase Learn” which aims at sensitizing people to the new and exciting world of cryptocurrencies.
Earlier this month, the crypto exchange revamped its policy for listing new cryptocurrencies, replacing an ad hoc process with a more comprehensive and structured one, which the exchange expects will expand the range of assets traded on the platform.
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