Coinbase Pro Fees Go Up 233% While Whale Fees Go Down, Making Users Unhappy
Coinbase Pro’s fees have gone up. Curiously, it does not seem that they went up for all users, however. The platform, which is focused on both professional and institutional investors, will change it's fees next week.
Now, people trading up to $10,000USD will have to pay 0.5% in fees while people who transact over a billion dollars in assets will barely pay any fees at all. The maker will not pay fees and the taker will pay only 0.04%.
The value of the fees declines sharply when values are higher, which is expected from a platform catered to high-end investors. However, most users were not very happy about the changes. In the case of the users that traded in small amounts of money, their fees went up by 233%, as they were 0.15% before. Taker fees went up by 100% in some cases.
Obviously, the new approach is set to favor big traders even more. According to Coinbase, the new structure was created to give more liquidity to the industry and to update pricing to cater to the needs of the clients.
Many users disliked the new fees and complained about them online. A Reddit user named HeresjoNNy130 was reported to affirm that stock brokerages, for instance, were diminishing fees. Coinbase, on the other hand, raised them.
This has the potential of making Coinbase Pro to lose some smaller clients. However, most of the money from the platform actually comes from big investors and they are getting a nice deal out of this, so Coinbase Pro is probably not too concerned.