Coinbase Pro Hikes Fees By 233%
Coinbase now tied with Bitstamp as the most expensive exchange for retail traders
“US Bitcoin exchange Coinbase has announced it will introduce new fees which will more than double usage costs for some low-volume traders.
In a blog post on October 3, officials confirmed that the new fee schedule would apply to all Coinbase Pro users from Monday next week.
Coinbase Pro is Coinbase’s dedicated platform for advanced traders. It caters to those wishing to transact larger volumes in cryptocurrency.
Coinbase openly admitted the new fee schedule favored high-volume traders and disadvantaged smaller ones.
At present, accounts dealing in $100,000 per month or less pay a taker fee of 0.25% and a maker fee of 0.15%.
From Monday, rates will vary according to overall volume. If this is under $10,000 per month, the taker will double to 0.5%, while the taker fee will also be 0.5% – an increase of 233%.
Coinbase claimed the shake-up was ‘in order to respond to client needs.'”