Crypto exchange and wallet service provider Coinbase introduced a new update called “Coinbase Bundles,” to simplify crypto trading, as per an announcement made on September 27.
The new update is a basket of five cryptocurrencies supported on Coinbase and purchased with U.S. dollar in proportions to their market capitalization. It consists of Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Ethereum Classic (ETC) and Litecoin (LTC); the cost of the smallest bundle is $25, £25, or €25.
As of now, there is no maximum cap for purchasing Bundle. Coinbase is limiting the daily purchase amounts on a per-customer basis. If a customer buys a Bundle, each cryptocurrency will be stored in their Coinbase wallet and the user will be able to buy, sold, receive and send them as the individual asset.
The exchange is planning to introduce the new product in the U.S., E.U. and U.K. in the upcoming weeks. Together with Coinbase Bundle, the exchange will also host informational asset pages for the top 50 cryptocurrencies in term of market capitalization, apart from “Coinbase Learn” section aimed to educate new traders.
A while back Coinbase announced a new process which will allow the platform to list more digital assets quickly. The process refers to cryptocurrencies compliant with the local law, and this process means that some particular assets listed on the platform may only be available to customers of the particular authority.
Earlier Coinbase revealed its intention to create a cryptocurrency-based exchange-traded fund (ETF). reportedly, the exchange is also in talks with blockchain working group from asset management giant BlackRock.