Follow us on:

cc_icon

Post: Coinbase Introduces Commission Fees for USDC to USD Conversions – What You Need to Know

Coinbase Introduces Commission Fees for USDC to USD Conversions – What You Need to Know

Key Points:

  • Coinbase has introduced commission fees for conversions from USDC to USD.
  • An exception will be made for Tier 1 and Tier 2 Coinbase Exchange Liquidity Program members.
  • The fees will be assessed on USDC to USD net conversions over $75 million per rolling 30-day period.
  • Customers will pay a fee based on their monthly transaction volume.

Insight:

Coinbase has announced that it will begin charging commission fees for conversions from USDC (USD Coin) to USD. However, an exception will be made for Tier 1 and Tier 2 Coinbase Exchange Liquidity Program members. The fees will only apply to USDC to USD net conversions that exceed $75 million within a 30-day period.

Customers will be charged a fee based on their monthly transaction volume. For a monthly volume between $75 million and $150 million, the fee will be 0.10%. For a volume between $150 million and $500 million, the fee will be 0.15%. Any volume exceeding $500 million will be subject to a maximum fee rate of 0.20%. These fees will be deducted directly from the USDC to USD conversion amount.

Hot Take:

Introducing commission fees for USDC to USD conversions will allow Coinbase to generate additional revenue. While this may impact larger traders who exceed the $75 million threshold, the exception for Tier 1 and Tier 2 Coinbase Exchange Liquidity Program members demonstrates Coinbase’s commitment to supporting its institutional and high-volume clients. Overall, this move aligns with Coinbase’s aim to diversify its sources of revenue and invest in expanding its offerings.


Original article: https://cointelegraph.com/news/coinbase-conversion-fees-75-monthly-volumes-over

Leave a comment

Your email address will not be published. Required fields are marked *

Recent Posts
Social Media
Twitter
Email
Telegram
Facebook
Offers
CheekyCrypto Membership Platform
Hardware Wallets
Bitget
Swissborg
Plutus Card