Coinbase Offers Fee Upgrade Program for High-Volume Traders
Coinbase has launched a new promotion targeting high-volume traders on other cryptocurrency exchanges. Traders with over $500,000 in monthly trading volume can fast-track to lower fee tiers and pay as low as 0.0% maker fees on spot trades on Coinbase Advanced. This move comes as Coinbase prepares to announce its fourth-quarter earnings for 2023. The company faced declining transaction revenue last year due to lower trading volumes, and it expects the fourth-quarter revenue to be similar. Coinbase acknowledges that fees are crucial for traders and aims to attract them by offering lower fee tiers based on their trading volume.
No-Fee Period for VIP Traders Lasts 60 Days
Qualified traders who open an account with Coinbase will enjoy a promotional period of 60 days without fees. After this period, their ongoing fee tier will be determined by their monthly trading volume. For instance, traders with $1 million to $15 million of trading volume may qualify for maker fees of .07%. Additionally, Coinbase recently introduced a fee of 0.1% for institutional clients making USDC to USD net conversions over $75 million. The company is also expanding internationally, obtaining licenses in various countries and extending access to its products in over 20 African nations.
Hot Take: Coinbase Targets High-Volume Traders with Fee Upgrade Program
Coinbase is rolling out a new promotion specifically designed to attract high-volume traders from other exchanges. By offering lower fee tiers based on trading volume, Coinbase aims to entice these traders and boost its transaction revenue. The promotional period allows qualified traders to trade without fees for 60 days, after which their ongoing fee tier will be determined by their monthly trading volume on the platform. This move comes as Coinbase expands internationally and secures licenses in multiple countries. By catering to high-volume traders, Coinbase is positioning itself as a top choice for crypto trading.
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