Coinbase Launches Poor Man’s Crypto Index Fund for Retail Buyers

[oksgvardukraine2018]

Coinbase Launches Poor Man’s Crypto Index Fund for Retail Buyers
Coinbase is unveiling a suite of new initiatives designed to expand its market share.

The latest update called “Coinbase Bundles,” refers to the pre-packaged collection of five cryptocurrencies available for purchase on Coinbase. The Bundle consists of Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Ethereum Classic (ETC).

A bundle of five cryptocurrencies can be purchased for a meager sum of $25. With the current market cap employed in calculating a diversified portfolio of cryptocurrencies available for purchase with a couple of taps, Coinbase will save customers a lot of hassles.

The exchange hopes to introduce the new update to its U.S., E.U, and U.K markets in the coming weeks. At the moment, the digital asset platform has not set a maximum purchase size for a Bundle, but there are daily purchase limits on a per customer basis, at the moment. When a customer buys a bundle, it will be stored on their Coinbase wallet, where it can be purchased, sold, sent or received as an individual asset.

The digital asset platform will also host Information Asset Pages on the top 50 digital currencies on its platform, along with a new section, called “Coinbase Learn,” which will educate first time traders to cryptocurrency. The Vice President and General Manager of Coinbase Consumer Dan Romero stated that the ability of people to understand, explore and choose cryptocurrency would go a long way in determining the possibility of an open financial system coming to reality.
https://www.ccn.com/coinbase-launches-poor-mans-crypto-index-fund-for-retail-buyers/

[bitmover]

They already had coinbase indez fund,which was closed for selected investors with lots of money.
https://am.coinbase.com/
I am happy they made this poor man's alternative.

I believe investing in a fund like this is much safer for a newbie, and it gives newbies a nice direction of good coins and safe portfolio.

Index fund are amazing.

[BitHodler]

I believe investing in a fund like this is much safer for a newbie, and it gives newbies a nice direction of good coins and safe portfolio.

Index fund are amazing.

It's not an index fund, but simply a basket of coins Coinbase selects for you to buy at once. Noobs aren't interested in that for the sole reason of not willing to buy coins such as Bcash, Litecoin and Ethereum Classic.

Coinbase is nothing more than an entry point from where people use their Bitcoins to buy other coins with on exchanges as Binance and Bittrex for example. The selection of coins that Coinbase offers is very poor.

Most people involved in altcoins have their targets on other coins and Coinbase might be motivated by that to list a couple of these coins themselves in order to prevent an outflow of customers after their initial BTC purchase.

[bitmover]

I believe investing in a fund like this is much safer for a newbie, and it gives newbies a nice direction of good coins and safe portfolio.

Index fund are amazing.

It's not an index fund, but simply a basket of coins Coinbase selects for you to buy at once. Noobs aren't interested in that for the sole reason of not willing to buy coins such as Bcash, Litecoin and Ethereum Classic.

It's not a random coinbase selection of coins.

It's "A Basket of Digital Assets - All assets listed on Coinbase, weighted by market capitalization.*
source: https://am.coinbase.com/

This is exactly what an index fund is.

This fund misses ripple, as it is not traded in coinbase. But pretty good.

This fund performance was superior to BTC performance in the last years.

[dothebeats]

While this idea in itself is already impressive, Coinbase should also let their users customize the bundle into their liking, which promotes for flexibility and more power over your money. Personally I think this will promote manipulation and pumps, but only if a large number of people bought the bundle at the same time. Bringing cryptos closer to those who can't afford to get a whole of it is somewhat inspiring and urges the average Joes to try thw world of crypto.

[Indrawan77]

It's a pretty good program, and it is perfect for people that want to learn and invest crypto but doesn't know where to start, and with the small of starting fund this can attract a lot of new small investors which will be great for the crypto transaction volume, this kind of program need to be supported and spread to all people in the world