The largest US-based cryptocurrency exchange announced today that it will be rolling out a series of tools geared towards investors with little-to-no knowledge in the field.
Educating Investors
San Francisco-based cryptocurrency exchange Coinbase announced Thursday that it will roll out a series of investment tools seemingly geared towards those who have little —or no — knowledge regarding the field of digital currencies.
Coinbase Bundle allows users to purchase a “bundle” of pre-selected cryptocurrencies for as little as $25. The cryptocurrencies included in the bundle are those supported by Coinbase — Bitcoin (BTC) [coin_price], Ethereum (ETH), Bitcoin Cash, Litecoin, and Ethereum Classic.
Apart from the bundle, Coinbase is also launching two more additions to its platform. That is, Informational Asset Pages which contain an index of the top 50 cryptocurrencies by means of their market capitalization, as well as Coinbase Learn, an FAQ page geared towards newcomers.
Obvious Controversy
While Coinbase’s official intention is supposedly to educate new investors, the bundle seems to be geared towards the opposite.
The official blog post announcing the tools states the following:
Only 3% of people can name four or more cryptocurrencies.
This begs the question — why would Coinbase tempt new investors to purchase a cryptocurrency that they have never heard of?
Furthermore, the official page of Coinbase Bundle contains the classic sentiment, “If you bought” a certain amount of cryptocurrencies this time last year, “you would have” this much more.
Needless to say the, “if you bought,” period is not set in December 2017, nor January 2018.
The reaction of the community has been overwhelmingly negative, and there are almost no positive comments under the Coinbase tweet itself.
Coinbase Bundle helps take the stress out of choosing your first crypto by offering the option to buy a market-weighted bundle of crypto for as little as $25.
— Coinbase (@coinbase) September 27, 2018
What do you think of Coinbase’s new bundle? Don’t hesitate to let us know in the comments below!
Images courtesy of Shutterstock, Twitter/@coinbase.