How Coinbase is Simplifying the Concept of Cryptocurrencies
At the time of Bitcoin's creation, Satoshi Nakamoto envisaged an open financial ecosystem that fosters decentralization. It is expected that most of people will acquire digital currencies in the near future. However, delving into the cryptocurrency market often poses a challenge, especially to first-time investors.
To ease the process of getting into the crypto investment sector, Coinbase digital exchange has introduced three new solutions, namely:
- Coinbase Bundle – this is a selection of five different digital currencies that are listed on the Coinbase crypto exchange. Typically, the bundles are available for as low as $25.
- Informational Asset Pages – these contain crucial information on the top 50 cryptocurrencies by market capitalization value. It also includes virtual currencies that are currently not listed on the Coinbase portfolio.
- Coinbase Learn – this is a section of the Coinbase website that exclusively deals with educating beginners and responding to their queries.
Theoretically, it is easy to buy a cryptocurrency. However, the real challenge lies about n the selection of a particular virtual currency to invest in, as well as the amount to invest. The primary role of the Coinbase Bundle is to simplify the process of digital asset acquisition.
First, customers are prompted to choose the amount of cryptocurrencies they wish to purchase. After this, Coinbase derives a diversified portfolio from the available crypto assets, depending on their prevailing market cap values. The bundles are affordably priced, with the cheapest going at only $25.
We’re rolling out a suite of new features to help people understand, explore, and buy their first cryptocurrency. Learn more about Coinbase Bundle, Coinbase Asset Pages, and Coinbase Learn here: https://t.co/djQbqGkDKI
— Coinbase (@coinbase) September 27, 2018
After purchasing a desired bundle, the individual digital currencies are stored in separate wallets and can be traded independently. Initially, the Coinbase bundle will be available to clients in the US and Europe.
Coinbase Asset Pages
Despite the hype around cryptocurrencies, only 3% of the global population can name four or more different virtual currencies. The objective of this solution is to deepen the knowledge of the masses so that their perception on digital currencies is not confined to Bitcoin alone. As mentioned earlier, the informational asset pages will cover the top 50 cryptocurrencies by market cap value.
Although most of the coins on the informational asset pages are yet to be listed on the Coinbase crypto exchange, they are a great starting point for individuals who are green on this subject. Besides ranking according to value, this solution also provides the historic trading data, coin description and links to relevant documentation such as whitepapers.
To beginners, internalizing the concept behind digital currencies can be quite a significant challenge. As of now, there is no comprehensive and simplified resource that can educate interested parties on the basics of cryptocurrencies.
For this reason, Coinbase is introducing the Coinbase Learn website section to bridge the vast knowledge gap in the crypto space.