Coinbase Pro Fees Increase – traders are not happy! Coinbase Pro Fees Increase for low volume users. The fee has surged over 200%.
Starting October 7th, Coinbase Pro will be charging a higher fee, surging over 200% for traders that trade less than $10,000, according to an update.
Currently, Coinbase Pro charges accounts trading under $100,000 with a .15% maker fee and a .25% taker fee.
After October 7th, trades of $10,000 and lower will see maker fees increase from .15% to .50%. Taker fees will surge from .25% to .5%.
Coinbase Pro currently provides zero maker fees for trades above %50 million, as well as adopting fee reductions for trades above $100,000 million. Coinbase stated that the new fee structure is designed to “increase the depth and liquidity of […] markets,” adding that they periodically update pricing in order to respond to and meet client needs.
“This latest update will slightly increase fees for lower-volume customers and reduce fees for high-volume customers – any customer transacting above $50,000 a month will either see a reduction in their trading fees, or no change at all. The update also introduces three new tiers below $100,000 a month.”
The crypto community is outraged by this. This follows a day after Coinbase announced that they will reward USDC holders with a 1.25% annual percentage yield.
What do you think? Let us know what you think on our Facebook page!
