Coinbase Updates Service to Simplify Trading, Provide Greater Education
Coinbase, Cryptocurrency Exchanges–Following breaking news published by EWN on Tuesday, when Coinbase announced its intention to expedite the process for adding new digital assets, the popular U.S. based cryptocurrency exchange has come forth with a new customer feature.
Titled “Coinbase Bundles,” the update is targeted at the more casual investor to cryptocurrency, or the amateur trader looking to simplify the process of buying and selling digital assets on the exchange. According to the announcement released today, published under the title “Helping People Understand, Explore and Buy Cryptocurrency,” Coinbase imagines the feature being a gateway to greater cryptocurrency adoption via the simplified process. While Coinbase has long been characterized as a more user-friendly crypto exchange, particularly with the emphasis on mobile-based applications and other simple UI features, “Coinbase Bundles” takes the process to a new level,
We expect that millions of people will make their first cryptocurrency purchase in the coming years. But all too often, getting started can be overwhelming for people learning about crypto for the first time.
Broken up into three new key features, the Coinbase update is tackling the process of simplifying cryptocurrency investing, while also creating more data available to customers that are looking to make Coinbase their primary hub for all things crypto.
Coinbase Bundles, the primary feature outlined in the update, is a “bundling” of five currencies that can be purchased for as little as $25. As opposed to customers purchasing their individual coins or portions of coins, the Coinbase Bundle feature buys in proportion to the market capitalization of the five cryptocurrencies currently offered through the exchange. Bundled coins do not have to remain in a joined unit, meaning once purchased the individual coins can be sent or sold freely. Despite listing a minimum, max purchase buys have not been specified although Coinbase has historically imposed a purchase amount limit that varies by customer qualification.
“Informational Asset Pages,” offers a formal documenting feature about the top 50 cryptocurrencies by market capitalization, which includes a large proportion of coins that are not currently available for purchase through the exchange. While Coinbase has previously listed coin prices for top cryptocurrencies, Asset Pages are designed to be more useful sources of information for investors, with the added goal of improving exposure for the broader crypto marketplace to newer customers,
Only 3% of people can name four or more cryptocurrencies. We want to be sure everyone learns to think beyond “Bitcoin” when building out their cryptocurrency portfolio. That’s why we’re launching informational asset pages for the top 50 cryptocurrencies, based on market cap.
The final feature, “Coinbase Learn,” offers a similar focus in terms of building adoption and greater interest through improved education on the industry. The new section of the website is designed to answer common questions related to cryptocurrency, while providing a simple resource for information on the basics surrounding blockchain, Bitcoin and a variety of topics.
The questions and answers in this portal are inspired by customer research and vetted with people totally new to cryptocurrency with the goal of helping anyone decide with confidence whether buying cryptocurrency is right for them.
Coinbase is clearly looking to both expand their influence in the crypto-space while providing utility to the broader industry by further educating their substantial customer base, one that numbered higher than popular stock brokerage Charles Schwab during last year’s bullish run.