Coinbase Pro fee hike and traders are not happy about it

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Sanfam
Oct 4, 2019



Coinbase Pro recently announced an update to their fee structure, making it one of the most expensive places to trade crypto.


Currently, traders dealing with $100,000 per month or less pay a maker fee of 0.15% and a taker fee of 0.25%. Below is the current fee structure:

Existing fee structure

But from Monday onwards, there will be new tiers depending on the overall volume. For example, in the most basic tier ($0-10,000), maker fees are 0.50% and Taker fees are 0.5% - making it a significant increase and punishing for basic users.


Here's the full new fee structure come Monday:

New fee structure

Putting things into perspective, here's a chart comparing the trading fees for major exchanges (lowest tier) by Larry Cermak

This makes HitBTC the exchange with lowest maker/taker fees currently. Binance comes in at 2nd while Coinbase Pro and Bitstamp have the highest trading fees.


Crowd's reaction

  • More than double the previous fees. I've always loved coinbase but I'll be looking to trade elsewhere. These fees are high.
  • apparently the bear turd markets arent working out well for them.
  • Fuck this shit greedy assholes time to go to a new exchange
  • Is binance jersey the only good fiat option in the UK?
  • 0.075%....... coinbase is literally 8x binance.... It has no trading pairs comparatively speaking. I guess coinbase has Fiat pairs but honestly who cares, stablecoins.
  • Go fuck yourself Coinbase. Give me back those sweet, sweet 0% maker fees at any tier of trading volume.
  • This is a dick move for any non-serious traders with less than ~$10,000 to trade. Since the fee structure is last 30 days, once you get up to a certain tier (e.g. $100k+), it becomes easier to maintain that tier and keep the old fees. Just don't drop below $50k in trades, or you'll spend a small fortune.

Could this latest change help to drive more retail traders to Binance.us instead? It does appear that Coinbase Pro is more interested in serious money/institutional volume than the retail trader.


So where will you be trading at?

COINBASEFEESFEE
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Sanfam
Oct 4, 2019

Thanks for reading!

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