The main crypto exchange and wallet in the United States and one of the largest in the world, recently announced that it will increase trading rates on its Coinbase Pro platform. To start, increasing these rates will have a greater impact on low traders Transaction volume, while on the other hand, reduces them for those clients that have more financial muscle.

It should be noted that a “Maker” is the one who sells his tokens and a “Taker” is a trader who buys them.

These new rates will start as of October 7, 2019, the rates for traders below $10,000 per month increased 233% compared to the previous increase, which meant that all traders below $100,000 paid the same rate.

For the low volume Maker and Taker the rates will now be 0.5%, the crypto exchange used to charge 0.15% to the Makers and 0.25 to the takers.

The company expressed:

“The volume of each user will continue to be calculated based on the trading volume of the last 30 days”

On the other hand, users with a high volume of operations will be favored, since Coinbase Pro will provide them with a 0% rate, that is, there will be none.

Coinbase Pro stated:

“This latest update to our policies will slightly increase rates for low volume customers, and at the same time reduce them for high volume traders, those with a volume greater than $50,000 per month, these users will see a reduction or no type of change. This new policy presents three new types of levels below $100,000 in volume of operations. ”

While Coinbase tried to explain the increase as “slight” and as a response “to customer needs,” a tweet from popular crypto analyst Alex Krüger said there is a significant 150 percent increase in account fees on average. Low volume operating under $10,000.

The increase in rates has angered many low-volume traders, who have argued that the measure is a mistake that could take them and new customers away at a time when crypto market is on a somewhat bearish path.

Expert crypto and professional traders Joe McCann posted a Tweet in which he said that:

“The reason Coinbase is raising rates is probably because it wants to keep its earnings at a time when trading volumes are low.”

On the other hand, According to the analysis by crypto analyst expert Larry Cermak, this increase in rates makes trading in Coinbase Pro as expensive as trading in one of its rival crypto exchanges in Coinbase, Bitstamp.

Disgust among users

The increase in rates has angered many low-volume traders, who have argued that the measure is a mistake that could take them and new customers away at a time when crypto market is on a somewhat bearish path.

Expert crypto and professional traders Joe McCann posted a Tweet in which he said that:

“The reason Coinbase is raising rates is probably because it wants to keep its earnings at a time when trading volumes are low.”

On the other hand, According to the analysis by crypto analyst expert Larry Cermak, this increase in rates makes trading in Coinbase Pro as expensive as trading in one of its rival crypto exchanges in Coinbase, Bitstamp.

What's your reaction?
Happy0
Lol0
Wow0
Wtf0
Sad0
Angry0
Rip0
Leave a Comment