Coinbase Shuts Down Crypto Bundles Without Warning
Coinbase, the leading cryptocurrency exchange in the US, has quietly discontinued its crypto bundles feature. Coinbase Bundles launched in October of last year, allowing traders to buy a market-weighted selection of Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic.
Coinbase users could buy the bundles starting at $25, £25 or €25 to gain exposure to the top five cryptocurrencies listed on the exchange at the tap of a button. The strategy was designed to give crypto newbies an easy way to enter the market.
Coinbase removed the feature without making an official announcement. Instead, the company answered questions on its status through its support forum, informing traders who’d purchased bundles about the status of their coins.
“Coinbase Bundle purchases have been deprecated, as such all assets purchased in the Coinbase Bundle have been redistributed to their respective individual asset wallets.
You will still be able to view the Coinbase Bundle purchase under Tools > History. The purchase will no longer be available to view in Accounts.
The assets in your Coinbase Bundle will be placed into their respective individual asset wallets. You will no longer see a standalone wallet for your ‘Coinbase Bundle purchase. This is a cosmetic-only change. The amount of cryptocurrencies you purchased as part of your Coinbase Bundle will not change.”