Coinbase Launches Initiative to Attract High-Volume Traders
Coinbase is targeting high-volume traders with a new initiative that offers reduced trading fees and a 60-day, no-fee period for those transferring from other platforms. This promotion allows traders with over $500,000 monthly trading volume to access lower fee tiers, potentially paying no maker fees on spot trades on Coinbase Advanced.
Boosting Market Presence
The move comes as Coinbase aims to strengthen its market presence and improve its fourth-quarter earnings for 2023. The company has seen a decline in transaction revenue due to decreased trading volumes and expects similar patterns in the last quarter of the year.
Fees as a Key Factor
Coinbase acknowledges the importance of fees in traders’ decision-making process when choosing a crypto exchange. The company recognizes that fees play a significant role and is offering reduced fees to VIP and high-volume traders from other exchanges, provided they provide proof of their trading volume.
Tiered Fee Structures and Institutional Clients
After the 60-day, no-fee period, eligible traders will be subject to ongoing fees based on their monthly trading volumes on Coinbase, which have tiered fee structures. Additionally, Coinbase has introduced a 0.1% fee for institutional clients converting over $75 million from USDC to USD net.
International Expansion
In addition to its operations in the U.S., Coinbase is expanding internationally. The company has obtained licenses in several countries and extended its services to over 20 African nations.
Hot Take: Coinbase Targets High-Volume Traders with Reduced Fees
Coinbase is making moves to attract high-volume traders by offering reduced fees and a no-fee period. The initiative aims to boost the company’s market presence and improve its earnings. Coinbase recognizes the significance of fees in traders’ decision-making process and is targeting VIP and high-volume traders from other exchanges. After the initial no-fee period, ongoing fees will be based on monthly trading volumes with tiered fee structures. Coinbase is also expanding internationally, acquiring licenses in various countries and extending its services to African nations. This strategic move positions Coinbase as a major player in the crypto exchange market.
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