Coinbase Pro increases the Fee's, BIG TIME

[Pipdips]

For people trading $10,000 or less of transactions per month, the fees just went up.  In a few days, they will be more than twice the price.  So long Coinbase Pro!!!

My orders are still up too.  That may very well force me to take loses on my exhisting trades since this only a few days notice.  Coinbase is not an ally anymore.

 

[exstasie]

For people trading $10,000 or less of transactions per month, the fees just went up.  In a few days, they will be more than twice the price.  So long Coinbase Pro!!!

The honeymoon is over now, huh? That was quick.

I don't like this trajectory Coinbase Pro is on. Last year, maker orders had zero fees across the board. Now they'll be 0.5% at the lowest tier! That's pretty messed up. I can't believe they have worse fees than Gemini now, at least for smaller traders. https://gemini.com/activetrader-fee-schedule/#activetrader-fee-schedule

For now, this doesn't affect me personally (unless I take a few weeks off and my 30-day average plummets) but it has me wondering if I should be ready to switch to other cheaper options. Kraken and Gemini are both looking more attractive than than they used to.

[Pipdips]

Is Coinbase hard up for money or something?

[figmentofmyass]

Is Coinbase hard up for money or something?

on the contrary, i think they have the market by the balls.

they are the biggest fiat exchange in the world at this point. now they're offering even cheaper fees to market makers to help solidify that position. not only will this stop liquidity providers from straying to platforms like binance.us, but they know retail investors will use the highest volume/most liquid (most well known) exchange in spite of the higher fees.

it's just like amazon. have you noticed how they have been jacking prices up the past year or two? the price of a prime membership went up 30%, and the same goes for lots of stuff sold through prime.

now that they've cornered the market, they're squeezing us for profit......

[Pearls Before Swine]

on the contrary, i think they have the market by the balls.

And that's the way business works, ladies and gentlemen.  Dont use coinbase myself but a 0.5% fee still seems reasonable to me but it looks like the increase is making a big stink among coinbase's customers.  I guess I'm used to a fee schedule like that with other exchanges though it does look like they're getting greedy.

it's just like amazon. have you noticed how they have been jacking prices up the past year or two? the price of a prime membership went up 30%, and the same goes for lots of stuff sold through prime.

I've not noticed that but I'll take your word for it.  I've bought an eclectic variety of things through Amazon over the past six years and I wouldn't have noticed price increases.  I do have a prime membership but got a discount on it.  I was lucky.

[illyiller]

So what are the options now for US traders? Coinbase Pro is my go-to fiat gateway but there's got to be cheaper options now. Binance.US and Kraken look cheaper, Gemini does too.

Any opinions about those exchanges? Any others that are worth looking into? Preferably with ACH deposit/withdrawal.

[logfiles]

This was bound to happen after coinbase started introducing more coins into the platform. I guess people who do smaller trades will have to look for cheaper options but 0.5% isn't that bad... You should look at the taker fee on Bitmex when trade with Leverage  

[TheBeardedBaby]

I also got the email today. Danm that's just a few months after they put the Maker Fees.
I suspect that soon there will be also fee when moving your fund from Coinbase to Coinbase Pro. It's kind of a punishment for all those who closed their accounts back during the wave of negative.
On the other hand the big investment in acquiring Xapo is turning the company into one of the most secure exchanges, with a lot of potential in the future focusing on the custody services.

[Baofeng]

You guys moving to Kraken now? I also say that email, damn, this really doesn't look good on Coinbase and I'm sure most of their customers are already looking for options today.

Gemini or Binance or Kraken should be the next logical choice. As far as I can remember, the fees on Gemini goes down as your trading volumes goes up.

[Murat]

Coinbase is not user-friendly services did you guys forget the past. they locked accounts with over 100 Bitcoins. Now they are robbing users with high fees. Centralized exchanges are not bringing anything positive for customers. Pump & dump scheme with huge trading fees. They are here to make fortune for themselves. When they get hacked they don't take the responsibility. This is great time to move to decentralized exchanges.

I wonder why you guys still using Centralized Exchanges? Trade on Airswap Without any Fees. Decentralized Exchanges are the future. No risk of Hacking Trade complete within seconds. what you need more?

[TheBeardedBaby]

OK but again, that is the only exchange you can withdraw in PayPal. At least I'm not aware of another one.
It's up to us to decide whether we going to use them or not and of course many will choose to leave.
I'm gonna still used them to convert my coins in PayPal, until other cheaper solution comes up.
Still it's one of the few that didn't got hacked...yet.

[elda34b]

I wonder why you guys still using Centralized Exchanges? Trade on Airswap Without any Fees. Decentralized Exchanges are the future. No risk of Hacking Trade complete within seconds. what you need more?

There are a lot of reasons why people are yet moving to DEX.

Does Airswap support fiat withdrawal/deposit?
Does Airswap support interchain exchanges with low fees?
Is there enough liquidity on DEXes?

etc.

[Mahanton]

Still it's one of the few that didn't got hacked...yet.

Valid reason why im still holding up to use this exchange because of this one but their sudden change of fees does really give out some impact on small traders.
Seems like its time to pack up and choose Kraken instead.Its too early for them to go into this path.

Is Coinbase hard up for money or something?

on the contrary, i think they have the market by the balls.

+1 , they can change or alter things as they want yet they do know on whats their current position in the market but  this one
will give out significant impact.

[magneto]

It's classic sales tactics - they give you a taste with low or even no fees at the start, and once they think that you're hooked onto their product, they pull out the real guns and start hitting you with higher and higher fees.

0.5% maker and taker fees are more than double the majority of spot exchanges. Even big retail exchanges like Binance don't charge more than .25% per trade for takers and makers alike, IIRC. It seems like that they are really trying to push the "pro" element of their exchange by trying to gradually push out the small fish, but this paints them in an extremely bad light in my opinion. Plus, what's wrong with a bit more liquidity? It doesn't hurt to have more customers anyhow.

Even in the second and third tier where you'd have to trade $10k-100k per month, it doesn't make much sense to use them. 0.35% and 0.25% for such a large trading volume are barely better than most exchanges with tier programs. Real professionals on the other hand may just choose to trade in the derivatives market instead, where spreads are way lower and fees are also way down (even with rebates in some exchanges).

[NeuroticFish]

Bitstamp has increased the fees not that long ago, now Coinbase Pro, ... I start thinking if isn't Binance next?
I don't understand what happens. Are the real volumes that low after all?!

[Pipdips]

Coinbase is a casino.  Straight up.  CasinoBase anyone?

[Hal9900]

This just in- Hunter Biden joined Coinbase.

[figmentofmyass]

Is Coinbase hard up for money or something?

on the contrary, i think they have the market by the balls.

+1 , they can change or alter things as they want yet they do know on whats their current position in the market but  this one
will give out significant impact.

i don't think it will. they crafted these changes brilliantly. mid-sized/large traders and liquidity providers benefit from the changes (or at least are unaffected). so their liquidity won't take a hit.

it's people who just use coinbase pro as a fiat onramp and small retail traders who are taking a hit. to be fair, this group probably costs a lot in terms of legal compliance but doesn't generate much profit for the company. so they're jacking up the fees to compensate for that.

Coinbase is a casino.  Straight up.  CasinoBase anyone?

binance is much more casino-esque IMO.

[illyiller]

You guys moving to Kraken now?

I'm considering it. They got some bad press recently over this scandal but I'm not sure that's enough to keep me from switching.

0.16% maker fees are looking pretty sweet right now!

[Darooghe]

Coinbase caters to whales. They charge 0% for maker fees at the $50M level and 0.1% for taker fees market and stop orders. they want to increase liquidity even though they selfishly decided to impose fees for limit orders at the beginning of this year. When the whales aren’t active, they become nearly dead. There is little to no liquidity especially with altcoins which makes Coinbase a lacking exchange especially compared to the exchanges that have much greater liquidity. they knows they have a liquidity problem and they think they can fix this issue by some menial changes to its fee structure. If they really wants to inspire trading for small traders, they have to reduce maker fees.