Coinbase is offering high-volume crypto traders from rival exchanges the opportunity to open an account with the chance to pay “as low as 0.0% maker fees on spot trades” for 60 days.
Coinbase is enticing high-volume traders from competitor platforms by offering lower fee tiers and as low as 0.0% maker fees on spot trades through Coinbase Advanced for those with over $500,000 in monthly trading volume.
Coinbase’s Approach Amidst Fourth-Quarter Earnings Announcement
Coinbase is gearing up to disclose its fourth-quarter earnings for 2023 later this month. The U.S.-based exchange encountered a decline in transaction revenue last year due to decreased trading volumes. Despite this, it anticipates that transaction revenue for the fourth quarter of 2023 will remain consistent with previous quarters.
In a bid to attract high-volume traders, Coinbase acknowledges the pivotal role of fees in traders‘ decisions. As part of its strategy, the exchange is extending an offer to VIP and high-volume traders from other platforms. These traders can access lower fee tiers on Coinbase Advanced by verifying their trading volume, enabling them to benefit from reduced fees right from the outset.
Coinbase Fee Structure and International Expansion
Coinbase has unveiled a promotional offer wherein qualified traders who open an account with the platform can enjoy a no-fee period lasting 60 days. Following this period, their ongoing fee tier on Coinbase will be determined by their monthly trading volume. For instance, traders with monthly trading volumes ranging from $1 million to $15 million may qualify for maker fees as low as 0.07%.
Additionally, Coinbase recently announced a new fee policy targeting institutional clients. Institutional clients making USDC to USD net conversions exceeding $75 million will now be subject to a fee of 0.1%.
As part of its expansion efforts, Coinbase has been actively pursuing international markets. The company has obtained licenses in several countries, including France, Spain, Singapore, and Bermuda. Moreover, it has expanded access to its products to encompass over 20 nations across the African continent.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
