Coinbase Pro Will Change The Terms Of Cryptocurrency Trading
On March 15, the American cryptocurrency exchange Coinbase published a list of changes that will be made by the Coinbase Pro trading platform on March 22. One of the main innovations is increasing of fees for orders.
From March 22 at Coinbase Pro, the size of the commission for processing the order will depend on the volume of trade for the period of 30 days:
- Less than $ 100,000: maker 0.15%, taker 0.25%;
- from $ 100,000 to $ 1 million: maker commission 0.1%, commission maker 0.2%;
- from $ 1 to $ 10 million: commission maker 0.08%, commission taker 0.18%;
- from $ 10 to $ 50 million: maker commission 0.05%, commission maker 0.15%;
- if the volume of trade exceeds $ 50 million, the site will not charge a maker commission, but the commission of the taker will be from 0.1% to 0.05%.
A maker's commission is charged if your order adds liquidity (lower or higher than the market price), a taker's commission applies to orders that reduce liquidity (at the market price). Until March 22, Coinbase Pro does not charge commission for creating orders above or below the market price (commission maker).
Among other important changes worth noting the following:
- The maximum order size will be increased.
- The site will no longer support stop orders.
- A market protection system will begin to operate on the exchange: the market will not execute orders in which the cryptocurrency price exceeds the market indicator by more than 10%. For example, if the Bitcoin rate is $ 4,000, Coinbase Pro will process orders with an asset value of up to $ 4,400.
Coinbase employees reported that innovations are aimed at increasing liquidity and reducing volatility. Thanks to the market protection system, the price of a digital asset will change more slowly, which will increase the efficiency of the market and give traders additional opportunities. However, many users of the trading platform criticized the decision to increase the commission. Traders consider the idea of switching to Binance crypto exchange, which has a single size of the maker's commission - 0.1%. However, large traders will not leave Coinbase Pro, because 0% commission is much more profitable than 0.1%.