Coinbase axes crypto investment packages
The company is quietly removing certain offerings with no notice
Coinbase recently shut down its cryptocurrency index fund absent any major announcement and has now followed that closure with a second one, Coinbase Bundles. The service had been in operation since last September as a means for facilitating crypto purchases for new investors, but has apparently met an untimely death as the California-based crypto exchange and wallet provider restructures its services.
The digital currencies that were once offered through Bundles have now all been distributed to their respective wallets. Previously, weighted packages that included packages of Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH) and more were available, but this will no longer be the case.
As it removed Bundles, Coinbase brought in new asset pages and a new learning tool, Coinbase Learn, which is designed to allow crypto fans and traders increase their education on digital assets carried by the exchange. The new offerings are designed to help make it “more convenient and less overwhelming” to purchase crypto assets.
Coinbase is having a difficult time figuring out what will stick with clients. It has launched several initiatives that it pulled a short time later, but is hopeful that its latest offering, which it introduced yesterday, will help it turn things around. Its latest offering allows investors copy the top 10% of the platform’s traders in an attempt to allow investors to easily choose, and invest in, the most popular crypto options.
In reality, the company’s mentality of introducing a new service or product and pulling it after only a few short months seems to be more indicative of desperation than of smart business practices. It would almost appear that Coinbase is trying to find a huge injection of cash as quickly as possible, which should have any crypto trader using the platform to be extremely cautious.