Coinbase’s New Trading Offer: A Move to Attract High-Volume Traders
Coinbase has recently introduced an exceptional offer for its VIP traders, allowing them to benefit from zero maker fees, or 0%, on spot trades. The criteria to qualify for this offer are clear: traders must achieve a monthly transaction volume exceeding $500,000.
“We are enabling high-volume traders from other exchanges with a monthly transaction volume of over $500,000 to accelerate towards lower fee tiers and pay as low as 0.0% maker fees on spot trades on Coinbase Advanced,” said Coinbase.
This offer is valid for an initial period of 60 days and is an obvious attempt by the platform to capture the attention of high-volume traders who use rival platforms. Once the 60-day period is over, each trader’s monthly transaction volume on the platform will dictate their ongoing fee level. The higher the trading volume, the lower the fees.
The platform emphasizes that fees are one of the most critical factors for traders dealing with large volumes.
Coinbase Set to Disclose Financial Results
This Coinbase initiative is not happening in isolation, but rather within the context of the company preparing to reveal its financial results for the fourth quarter of 2023. After facing a decline in transactional revenues due to reduced trading volumes, Coinbase is determined to reverse the trend.
By reducing financial barriers for high-volume traders, Coinbase hopes to not only increase its own transaction volume but also strengthen its position in the global cryptocurrency market.
