Coinbase Pro will be more expensive for traders who move little money. From October 7th, 2019 at 5:00 PM PT, which is 2:00 AM CEST on Tuesday 8th, the new fee structure will come into effect.
Coinbase Pro is perhaps the world’s most popular cryptocurrency trading platform, especially for beginners. The ease of use and its close connection with Coinbase make it a very convenient tool for taking the first steps in the trading world.
As stated in the official announcement, these changes are aimed at increasing the depth and liquidity of the markets by targeting primarily high-level traders. In fact, although it is the starting point for many new investors, it is not ignored by institutional investors who account for 60% of total volumes.
Coinbase Pro: new fee structure
To meet the needs of users, Coinbase periodically updates the tax structure. Prior to the update, traders are informed of the new features.
This new update will increase fees for low-volume traders and reduce them for high-volume traders: any customer who carries out larger transactions for a total of more than $50,000 per month will see a reduction in their trading fees or no changes. The update introduces three new tiers below $100,000 per month:
- Tier 1, between $0 and $10,000: maker 0.50%, taker 0.50%;
- Tier 2, between $10,000 and $35,000: maker 0.35%, taker 0.35%;
- The third tier is between $35,000 and $50,000: maker 0.15%, taker 0.25%.
The volume over the 30 days is shown in the Coinbase Pro account panel.
This is the old tax structure:
This is the new tax structure:
Those who move more than 100M dollars per month will be able to place orders free of charge. Those who move between 100 and 300 million dollars a month will now pay 0.07% (and no longer 0.08%) for taker orders. Traders moving between $300 and $500 million a month will now pay 0.06% (and no longer 0.07%) for taker orders. Those who move between $500 million and $1 billion a month will now pay 0.05% (and no longer 0.06%) for taker orders. Those who move more than 1 billion a month will now pay 0.04% for taker orders (and no longer 0.05%).
It is clear that Coinbase wants to favour the biggest investors who move large amounts of money.