One of the most popular crypto exchange and wallet service Coinbase has launched a new product known as Coinbase Bundle. The firm launched this product in order to enhance cryptocurrency trading, as per the report published on September 27.
Coinbase bundle consists of 5 Cryptocurrencies supported on Coinbase. Anyone who opts to buy Bundle will be buying a mixture of each currency in proportion to their USD market capitalization at purchase time. The Bundle consists of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ethereum Classic (ETC).
Coinbase reached Twitter to announce about its new product. The firm mentioned a “suite of new products” along with Coinbase Asset Pages and Coinbase Learn.
Most suitable way to Buy Cryptocurrency
As per Coinbase, the distribution of bundles are calculated by multiplying the price of each cryptocurrency by the circulating supply at the transaction time. The exchanges charges will be same whether a user wants to purchase bundle or cryptocurrency separately. Coinbase charges 1.5% commission rate on purchases.
Currently, Coinbase has not set any limit on the purchase size of Bundle, however, the exchange limits daily purchase amounts on a per-customer basis. As soon as a user purchased a Bundle, each type of digital currency will be stored in the Coinbase wallet, and it can be purchased, sold, sent or received like an individual asset.
Also Read: Swiss Startup SEBA raises more than $100 million to launch Crypto Bank
The smallest Bundle cost $25, £25, or €25. The description of the $25 Bundle also seems to be relevant,
“Buying a single cryptocurrency can be easy if you know what you want. But knowing which cryptocurrency to buy and feeling confident in the amount you purchase is where a lot people lose confidence”
Coinbase plans to launch the new product in the U.S., E.U., and U.K. in the next few weeks.
Educating people about Crypto
Apart from Bundles, Coinbase is also going to launch Crypto Asset Pages so all the people can explore and gain more knowledge about cryptocurrencies. They said that the feature will be available to all the users and not just newcomers.
For all the people who are new to the crypto industry, Coinbase has also launched Coinbase Learn so that all the interested people can understand the basis of the cryptocurrency. Also, this will help them to understand whether they should purchase cryptocurrency or not.
A more detailed information about the Coinbase bundle, asset pages, and Coinbase Learn are provided in the blog published by the company.
Also Read: Veem raises $25 million from Goldman Sachs and Google Ventures
Coinbase also mentioned that by the release of the new bundle, it will allow listing more cryptocurrencies easily. This system leads to cryptocurrencies which are compliant with the local law, this means that several assets listed on the platform may only be available to customers in particular jurisdictions. Coinbase other purpose is to attract new customers with the help of this bundle and also educate them about cryptocurrency.