Fee Changes Ahead
Starting October 7, Coinbase Pro users brace for a hefty increase in trading fees, particularly for those making smaller trades. Specifically, if you’re dealing in amounts under $10,000, you could see your maker fees soar over 200% — from a modest 0.15% to a staggering 0.50%. Hold on to your wallets!
Maker vs. Taker: What’s Going On?
In the world of trading, maker orders bring liquidity to the market, allowing others to trade, while taker orders are those that use the liquidity provided by makers. It’s a classic case of the rich getting richer and the rest of us… well, let’s just say we’re feeling the pinch. For trades soaring above $100,000, the new fee structure actually rewards larger traders with discounts—up to a 25% discount for trades over a billion dollars!
Coinbase’s Justification
Coinbase assures users that these changes aim to “increase the depth and liquidity of markets.” In other words, they’re trying to stimulate more high-volume trades while the smaller fries foot a larger bill. How thoughtful!
Feedback from the Crypto Community
Predictably, the changes have ignited a firestorm of displeasure among the crypto crowd. One Reddit user expressed their frustration, stating, “Meanwhile stock brokerages are all going fee free. I emailed support blasting them. If they don’t change, I’m going to Kraken.” Sounds like they’re ready to trade not just assets, but also platforms!
Looking Ahead
With these fee hikes looming, it remains to be seen how much they’ll impact the trading habits of Coinbase Pro users. Some might decide to brave it out, while others could heed the warnings from unhappy users and take their business elsewhere. One thing’s for certain: crypto trading just got a little less enjoyable for those below the high-roller threshold.
