Coinbase Announces New Fees For Its Clients
✍️ 27 March, 2023 - 4:29 👤 Editor: Jakub Motyka
- Coinbase, the famous exchange platform, announced new usage fees for its clients.
- This may increase transaction costs for some users and reduce it for others.
- Can it stay up for the rest of the crypto winter?
Coinbase Global Inc, the largest cryptocurrency exchange in the United States, has announced a restructuring of your fees, which will affect your clients in the long term. This may increase or decrease usage fees for some users, according to the volume transacted in the last 30 days.
The new Coinbase fee schedule will come into effect on Tuesday, September 20. Clients with a monthly transaction volume between USD 15 and 250 million will pay up to 2 basis points more than in the current structure. Similarly, large investors, exceeding USD 250 million, could see a decrease in their transaction fees.
Why This Coinbase's Fee Structure Change?
Through a statement, the cryptocurrency exchange indicated that the measure has been taken due to “changes in global crypto trading volumes and asset prices.” Put another way, the current bear market conditions forced the Coinbase team to make such adjustments. However, a spokesperson for the Coinbase team could not be reached for further information.
In this way, the Coinbase commissions from now on are as follows:
|Tier||Taker Fee||Maker Fee||Taker Fee △||Maker Fee △|
|$15M-$75M||16bps||6bps||-2bps to +1bps||-2bps to +1bps|
|$75M-$250M||12bps||3bps||-3bps to +2bps||-2bps to +1bps|
|$250M-$400M||8bps||0bps||0bps to -2bps||0bps to -2bps|
|$400M+||5bps||0bps||0bps to -3bps||unch.|
How Will The Fee Changes Affect Coinbase Users?
The current rates are not very different from the previous model. In both cases, retail users have much higher transaction fees than institutional clients. Naturally, the volumes moved within the platform in custody and exchange services are much higher. This mainly benefits institutional investors, who will be able to enjoy slightly lower fees.
As a result of the different macro-economic conditions, both the general market and the cryptocurrency market are going through a deep economic crisis. The volume and market capitalization have drastically decreased in recent months, and this directly affects the platforms that make life within the ecosystem. Coinbase in particular, has seen the need to eliminate several of its programs, in order to balance its operational expenses. However, this new move leaves it out of the race against Binance, who has decided to completely eliminate its transaction fees on the pairs with the highest market volume.
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