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Coinbase has launched a new initiative to attract high-volume traders by offering reduced trading fees and a 60-day, no-fee period for those transferring from other platforms.
According to a recent <a href="https://www.coinbase.com/blog/coinbase-advanced-now-offers-a-fee-upgrade-program-for-high-volume-traders" data-type="link" data-id="https://www.coinbase.com/blog/coinbase-advanced-now-offers-a-fee-upgrade-program-for-high-volume-traders" target="_blank" rel="noopener noreferrer nofollow">blog post</a>, the promotion offers a fast track to lower fee tiers for traders with over $500,000 monthly trading volume, enabling users to pay as low as no maker fees on spot trades on <a href="https://www.coinbase.com/advanced-trade" data-type="link" data-id="https://www.coinbase.com/advanced-trade" target="_blank" rel="noopener noreferrer nofollow">Coinbase Advanced</a>.
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 – If you are a savvy crypto trader this offer is for you. – If you know a savvy crypto trader this offer is for them. 🚀Switch to Coinbase Advanced and enjoy lower fees, and elevated trading experience. Deets in the blog. <a href="https://t.co/LgK0nr3S4T" target="_blank" rel="noopener noreferrer nofollow">https://t.co/LgK0nr3S4T</a>— Lisa Mohanty 🛡️ (@ShubhashriM) <a href="https://twitter.com/ShubhashriM/status/1753075658870423713?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 1, 2024</a>
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The move is part of Coinbase’s efforts to boost its market presence, especially as it prepares to announce its fourth-quarter earnings for 2023 later this month. The company has experienced a downturn in transaction revenue due to decreased trading volumes in the past year and anticipates similar revenue patterns for the last quarter of 2023.
You might also like: <a href="https://crypto.news/bitcoin-mentioned-as-financial-powerhouse-in-ark-invests-2024-market-forecast/" rel="noopener noreferrer nofollow"> Bitcoin mentioned as financial powerhouse in ARK Invest’s 2024 market forecast </a>
Coinbase emphasizes the significance of fees in traders’ decisions regarding their choice of <a href="https://crypto.news/tag/cex/" data-type="link" data-id="https://crypto.news/tag/cex/" rel="noopener noreferrer nofollow">crypto exchange</a>.
“We know that fees are one of the most important factors when it comes to selecting and trading on a crypto exchange,” the company stated. To benefit from the reduced fees, VIP and high-volume traders from other exchanges must provide proof of their trading volume.
Following the 60-day, no-fee period for eligible traders, ongoing fees will be based on monthly trading volumes on Coinbase, with tiered fee structures.
Additionally, Coinbase <a href="https://crypto.news/coinbase-to-charge-fees-on-usdc-to-usd-conversions/" data-type="link" data-id="https://crypto.news/coinbase-to-charge-fees-on-usdc-to-usd-conversions/" rel="noopener noreferrer nofollow">announced</a> a new 0.1% fee for institutional clients converting over $75 million from USDC to USD net.
The company, predominantly operating in the U.S., is also expanding internationally. It has recently acquired licenses in various countries, including France, Spain, Singapore, and Bermuda, and extended its services to over 20 African nations.
Read more: <a href="https://crypto.news/coinbase-challenges-secs-rejection-of-digital-asset-rulemaking-petition/" rel="noopener noreferrer nofollow"> Coinbase challenges SEC’s rejection of digital asset rulemaking petition </a>

Coinbase Advanced introduces fee structure program for high-volume traders

crypto.news

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