Team Coinbase announced that on March 22 at Coinbase Pro, an advanced trading exchange that supports features not available to consumer platform, there will be some changes.
Changes published in the blog are significant. Most notable of these is the update of the structure of fees, which will now impose relatively high charges: 0.15% for those trading under $ 100,000 during a 30-day trial period.
Fees Coinbase was 0%, and the new change is quite dramatic increase in fees. However, it still remains cheaper than some other American exchanges such as Gemini.
Other changes include the update of the maxima of the orders for protection from large price movements, increasing the size of new orders, disable the stop orders and adding points of market protection.
Team Coinbase explained the reasons for such changes:
These changes are designed to increase liquidity, provide better detection prices for deals and make price movements more fluid. This will lead to a more efficient market and increase trading opportunities for all of our customers.
However, these changes stirred cryptologist. In the past the user goes to Coinbase Pro because of lower trading fees. Changes in the structure of charges means that users have almost no reason to choose between Coinbase and Coinbase Pro .
Of course, users of Coinbase questioned whether the change was motivated by greed, at least to some extent.
A Reddit user Voidward talked about the new fee structure and attempts to curb the volatility:
Claim: the New structure of commissions, designed to increase liquidity by reducing the difference between the Commission of the producer and the buyer
It’s hard not to assume that here is not present an element of greed. Deletion of stop orders and limit market orders to move the price by more than 10%, it seems, aimed at limiting volatility, but at the same time, people probably won’t like to sleep with open orders without stop losses.
Thus, these changes may force many users to cancel their account at Coinbase and start trading on Binance, where a Commission on the exchange amount of 0.10%.
Recently, captainvalor have already closed their accounts after moving to the #deleteCoinbase on Twitter in response to ambiguous acquisition Coinbase Neutrino. The situation is even more aggravated when it became clear that one of the third-party service providers, tracking data sold customers. Listing XRP also added to the negativity Coinbase.
If Coinbase is going to raise their prices to investors with relatively low capital, it will only lead to their further care.
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