Coinbase, a leading cryptocurrency exchange, has rolled out an exciting enhancement to its Coinbase Advanced platform, a fee upgrade program tailored for high-volume traders. This latest offering aims to cater to the needs of professional traders by providing enhanced fee structures and incentives, further solidifying Coinbase’s position as a preferred platform for institutional and active traders.
Coinbase Advanced Introduce Low Trading Fees
As per a blog post, the fee upgrade program introduced by Coinbase Advanced is designed to reward prominent traders with reduced trading fees, enabling them to optimize their trading strategies and maximize their returns. Coinbase seeks to attract and retain sophisticated traders who value cost-efficiency and liquidity by offering more competitive fee structures based on trading volume.
One of the key benefits of the fee upgrade program is its flexibility. Traders with over $500,000 in monthly trading volume, who use other crypto exchanges, can now get upgraded to Coinbase Advanced lower fee tiers. All they need to do is provide proof of their trading volume. Interestingly, there is no subscription fee or spread fee to trade on Coinbase Advanced.
Meanwhile, upgraded traders will maintain this lower fee for 60 days, after which, their monthly trading volume on Coinbase will determine their ongoing fee tier. This incentivizes traders to increase their activity on the platform, driving liquidity and market activity.
Coinbase Committed to Provide Seamless Trading Experience
Moreover, the fee upgrade program underscores Coinbase’s commitment to providing a seamless and cost-effective trading experience for its users. It also aims to level the playing field for traders of all sizes, empowering them to execute their strategies with confidence and efficiency.
Recall that the US-based exchange previously said its push toward an offshore derivatives exchange is part of its strategy to be globally known internationally across six continents. Also, the exchange has been granted a regulatory license in Bermuda to launch an offshore derivative exchange.
Meanwhile, the company said it has upgraded its retail platform for its Singaporean customers, launched full crypto services in Brazil, and is seeking a regulatory license in Abu Dhabi.