San Francisco-based Coinbase ceases offering Bundle services to users

  • 19 July 2019, Friday, 09:40

Back in September 2018, Coinbase had launched ‘Coinbase Bundle,’ a service which allowed users to easily purchase market-weighted cryptocurrencies supported by the exchange. However, Coinbase has now shut down this service, without any prior notice, according to the cryptocurrency exchange’s FAQ page.

According to the Coinbase FAQ page, the balance in the customer wallets that have been acquired through the Bundle service will be placed into respective individual asset wallets in the Coinbase user’s account. The page also suggested that users will no longer be able to view their Coinbase Bundle purchases in “Accounts.” However, it can still be viewed under “Tools >History.”

At the time of launch, the Coinbase Bundle product supported five cryptocurrencies on the exchange, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. The initial announcement of the product focused on easing the purchase of market-weighted cryptocurrencies with as little as $25. As per the press release issued by Bundle, back in September, the product was launched to help people “understand, explore and buy cryptocurrencies.” The product aimed at influencing millions of people to engage in the use of cryptocurrencies.

This isn’t the first time Coinbase has shut down one of its products or services without any announcements. The exchange also shut down an index fund about two weeks after Coinbase Bundle was launched, as it shifted its attention to a new retail offering.

The cryptocurrency exchange was in the news recently after it developed a new range of tools in order to help traders improve their efficiency. The exchange supports fifteen coins and now notifies users when major traders sell or buy cryptocurrencies. The exchange released a blog post announcing the availability of trading signals on the exchange, which would enable users to individualistically create and control their crypto-strategy. The blog post read,

“For individual investors, especially those new to crypto, we hope these new signals will encourage more informed management of a diversified crypto portfolio. We want trading signals to help first-time investors build the right portfolio to suit their investment goals.”