Coinbase Pro fee hike and traders are not happy about it
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:
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:
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.
- 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?