Coinbase Announces Coinbase Bundle

Digital currency exchange Coinbase has announced Coinbase Bundle. It allows users to buy all five available cryptocurrencies with just one purchase.   

Those who choose to buy the Bundle will be buying a mixture of each currency in proportion to their USD market capitalization at purchase time. A Bundle is made up of Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Ethereum Classic.

The call to learn more about Coinbase Bundle came in the same Twitter thread where the company introduced a “suite of new features,” including Coinbase Asset Pages and Coinbase Learn.

A Convenient Way To Buy Cryptocurrency

According to Coinbase, the breakdowns of Bundles are calculated by multiplying the price of each cryptocurrency by the circulating supply at transaction time.

The exchange says buying fees will not be any different than if a user purchased each cryptocurrency separately. Coinbase charges a 1.5% commission rate on purchases.

The ability to purchase Bundles is only available to customers in the United States, United Kingdom, and across the European Union who have a verified identity.

There is no cap on the maximum purchase size for a Bundle, but the smallest one can be purchased for $25 (£25, or €25).

The digital currency exchange wrote in a FAQ page how customers are able to sell off portions of Bundles, but are not able to send or sell them altogether in a single transaction. Additionally, Coinbase is not able to provide tracking information about a Bundle’s specific aggregate performance.

Big Changes Coming To Coinbase

Aside from Bundles, Coinbase also wrote on Twitter today about launching asset pages so people can explore and become educated about cryptocurrencies. They said this resource would be available to anyone, not just customers.

For those totally new to the industry, Coinbase decided to build Coinbase Learn so interested people can get the basics about blockchain and receive other “simple answers to your top cryptocurrency questions.”

More information about the asset pages, Coinbase Learn, and Coinbase Bundle were spelled out in a September 27th blog post from the company.

Additionally, CryproGlobe reported yesterday on a new assets framework for Coinbase that will increase the frequency and number of listed assets.

This new process is designed to make it possible to list digital assets on a per-location basis, assuming they are in compliance with legal requirements in the specific jurisdiction.

Next Token to Go on Sale on Binance Launchpad Is WazirX (WRX)

On Tuesday (January 21), Binance announced that WazirX (WRX), the native token of Indian crypto exchange WazirX (which Binance acquired on 21 November 2019), is the next token to be offered for public sale on the Binance Launchpad platform.

According to Binance Research, WRX, which is "the utility token forming the backbone of the WazirX ecosystem," is built as a BEP2 asset on Binance Chain. Three examples of WRX use cases are getting trading fee discounts on WazirX, WRX Trade Mining (i.e. performing trades) to earn WRX, and paying margin fees.

The WRX token sale will be following a lottery format; the recording of users' BNB balances started at 00:00 (UTC) on 4 January 2020. User BNB balances will be recorded between 00:00 (UTC) on 4 January 2020 and 00:00 (UTC) on 3 February 2020. The average balance during these 30 days will be used to determine the "final BNB holding amount " for each user.

Here are some of the main details of the WazirX (WRX) token sale:

  • Launchpad Hard cap: $2 million
  • Total Token Supply: 1 billion WRX (10% of this has been allocated to Binance Launchpad)
  • Public Sale Token Price: 1 WRX will cost $0.02 (the BNB price will be specified before the lottery draw)
  • Maximum Number of Winning Tickets: 10,000
  • Allocation Per Winning Ticket: 10,000 WRX ($200)
  • Supported Sessions: BNB 

Featured Image Courtesy of Binance