Coinbase has quietly taken down its Coinbase Bundle service, which came to public knowledge through the FAQ page on the main website. Coinbase Bundle service was launched back in September 2018 and allowed the users to make an investment into a basket of cryptocurrencies for as little as $25.
At the time of launch, Coinbase Bundle service included 5 crypto tokens namely, bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin. The firm has transferred the pending balances of consumers from the bundle service to their respective wallets.
Coinbase Bundle was advertised as a path-breaking investment opportunity
The launch of the service back in 2018 was hyped by the platform as an amazing opportunity for everyone to make an investment into multiple cryptocurrencies as opposed to purchasing individual cryptocurrencies. The introductory announcement at the launch of the services read,
“The vision of an open financial system depends on people’s ability to understand, explore, and choose cryptocurrencies. We expect that millions of people will make their first cryptocurrency purchase in the coming years. But all too often, getting started can be overwhelming for people learning about crypto for the first time.”
Right after the launch of the service, an index fund aimed at institutional and wealthy investors was shut down. The move was seen as a way to divert the resources of the platform towards the retail offerings.
The reasons behind the shut down were not made clear, but given how the exchange decided to pull curtains on one of the more hyped services so quietly, it may be not as beneficial as they might have anticipated at the launch.
