Trade More Bitcoin Pay Less Fee Coinbase. newsbtc bitcoin news. San Francisco-based bitcoin exchange Coinbase has announced a volume-based rebate system for trades put on the Coinbase Exchange. The offering which will come into effect from next week was announced today via the official blog-post.
The Company will continue to implement the maker-taker fee structure on the trades, but the traders will receive daily rebate benefits on trading more bitcoin on the bitcoin exchange. A trader’s 30-day bitcoin exchange volume relative to the total exchange volume will determine the amount of the daily rebate.
Suppose that 100BTC were traded on the bitcoin exchange over the last 30 days, and you traded 5BTC during the same period, then you have accounted for 5% of the total volume. Based on this, Coinbase will calculate the (reduced) taker’s fee. Coinbase used to charge a 0.25% taker’s fee on each trade during the day.
The rebate will be credited to the account each day at 12:00am UTC.
Take a look at the image below for a detailed breakdown of the fee structure. Evident from the above description is that the taker’s fee ranges from 0.25%-0.10% while the maker’s fee has been kept at 0%. A taker is someone who aggressively prices his trades so that they get executed immediately. This reduces the liquidity in the exchange’s order book.
When a trade is not immediately executed, the order is put on the order book to be filled. If another trader trades using your order, then you are considered a ‘maker,’ and charged a 0% fee.
The bitcoin exchange believes that offering volume-based rebates will encourage traders to actively participate in the bitcoin market and foster fairness and competitiveness.
So, if you are still considering trading bitcoin and are looking for a great exchange with side-benefits, you can sign up here . […]
