The U.S. cryptocurrency exchange Coinbase is revising its fee structure in response to “changes in worldwide crypto trading volumes and asset prices,” according to the business. The platform is reducing the monthly trading volume requirement to qualify for the middle and top tiers of its fee structure, so raising trading expenses for some traders while decreasing them for a huge number of high-volume customers.
In response to the continued market decline, Coinbase will implement the revised fee schedule for its Exchange, Pro, and Advanced Trade services beginning today, the firm announced in a statement. By offering more favourable trading conditions to big dealers, the exchange might attract wealthy institutional investors.
Taker and maker costs for traders with a volume of less than $15 million would remain unchanged despite the new information.
Taker fees of 16 basis points (bps) and maker fees of 6 basis points (bps) will apply to the platform’s middle-tier clients, who trade between $15 million and $75 million in volume. This is a change from -2 basis points to +1 basis points for both fees.
Changes to the pricing structure will also apply to the highest volume customers of the exchange, who report trading volumes in excess of $400 million. These users will incur a 5 bps taker charge, a shift from 0 bps to -3bps. The maker fee will not change from 0bps. Coinbase will maintain the maker fee at 0 bps for these clients.
Also Read: Ripple Distributes 50 Million XRP To Anonymous Wallet
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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