San Francisco-based cryptocurrency exchange Coinbase has launched Coinbase Bundles, a market-weighted selection of the five top cryptocurrencies currently available on Coinbase – Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic. Coinbase customers will be able to buy the bundles starting at $25, £25 or €25.
Bundles can be purchased “with just a few taps”, allowing anyone to own any amount of the five cryptocurrencies as they want.
It’s a marketing strategy designed to give new investors easy access and exposure to the crypto markets without all the decision-making jitters.
According to the announcement,
Once a bundle is purchased, the underlying cryptocurrencies are stored in their respective wallets and behave just like separate cryptocurrencies in your Coinbase account. You can buy, sell, send and receive each cryptocurrency as an individual asset.
Coinbase rolled out the bundles in the US on September 27 and will soon make them available to customers in the UK and Europe as well.
Coinbase Bundles are part of the company’s wider strategy to compete globally with Malta-based crypto titan Binance, the world’s largest cryptocurrency exchange. Binance has built a huge platform for and by crypto enthusiasts by allowing the community to vote on new coin listings. As participants in the ecosystem, Binance customers have allowed the one-year-old exchange to eclipse competitors by luring scores of worldwide retail investors and building user retention.
Coinbase recently announced a new approach to listing qualified coins. The company plans to dramatically ramp up the number of offerings on its crypto platform – and increase the number of investors.
According to CEO Brian Armstrong, Coinbase, as a main pillar in the digital economy, can become the “Google of Crypto”.