Coinbase Makes Changes To Fees To Deal With Changes Recorded In Trading Volumes
As the global trading markets have also started experiencing pressure coming from macroeconomic factors, they have managed to get to major crypto exchanges.
However, the changes being made by the exchanges are somewhat favorable for the investors interacting with the cryptocurrency industry.
Coinbase Announces Changes to Fees
Coinbase, one of the largest cryptocurrency exchanges in the entire world has announced that it is to make changes to its fee structure.
The exchange officials have reasoned that the global cryptocurrency trading market has been undergoing multiple changes. The major changes are in the prices of the trading assets as well as their trading volumes.
According to the new fee structure, the exchange has made changes to the fee schedule for the upper and mid-tiers. In the past, the investors had to achieve higher prerequisite benchmarks before they could qualify for these tiers.
The investors were required to meet the particular prerequisites on a monthly basis in order to qualify for the particular fees.
In addition to the above, Coinbase has also announced an increment in the costs for performing trades. However, the increased trading costs are not for all the investors but for a small group.
As for the majority of the investors generating a strong and high trading volume, the trading costs have been reduced significantly.
New Fee Schedule has been Implemented Already
The exchange has confirmed that it implemented the new fee schedule on an immediate basis. The structure would impact the Advanced Trade Services, Pro, and Exchange users.
By making their services more and more convenient for the major clients and investors, they will have a higher chance of bringing institutional investors to their side.
Institutional investors with deep pockets have been seeking exposure to the cryptocurrency markets in the past couple of years. With a new and favoring fee structure, they will be able to bring in more institutional investors to their side.
No Changes to the Taker and Maker Fees Up to $15 Million
The officials at the exchange have revealed that the traders would see no change to the taker and maker fees. However, the ‘no fee’ rule will be implemented on volumes that are between $0 and $15 million.
The exchange has confirmed that they have not made changes to the plan and none will be made going forward.
Changes to the Mid-Tier Investors
As for the mid-tier investors, the prerequisites have been changed by the exchange.
The fee schedule suggests that a 16 bps taker fee will be implemented and a 6 bps maker fee will be implemented on volumes that are between $15 million and $75 million.