Coinbase Tests Subscription-Based Service with Zero Trading Fees

Coinbase, a US-listed cryptocurrency Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, is reportedly testing a subscription-based service that enables its users to access certain privileges. According to The Block, the exchange is looking to offer some features like prioritized phone support and zero-fee trading for those who onboard the brand-new product named ‘Coinbase One’.

The report notes that the enhanced features even seek to offer prioritized phone support during the weekends and holidays. In a first instance, The Block said that Coinbase One will be available to a small number of users. The manoeuvre seems to be an attempt of the US-listed crypto exchange to diversify its revenue flows, although it is not known yet what is the fee scheme of the forthcoming subscription service.

“Coinbase has started testing a subscription product for our customers. Customers in the test group will have the ability to buy, sell and convert digital currencies on the Coinbase platform without a Coinbase fee for each trade (spread fees still apply). We’re always looking to learn more about how we can best serve our customers in different ways. Right now, we are still in early stages so everything about the future product experience will be shaped by the feedback we receive from our users,” a Coinbase spokesperson commented in a statement.

Recent Products Launch

Recently, Coinbase announced the launch of its waiting list for its non-fungible tokens (NFTs) marketplace, Coinbase NFT. Users will be able to mint, purchase and showcase NFTs. The initial launch will support Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term-based ERC-721 and ERC-1155 standards, and Coinbase confirmed it will have multi-chain support in the ‘near future’.

In October, the exchange added phone support and deployed a series of measures to strengthen its customer support area. According to a blog post, 24/7 phone assistance will be available for all retail customers from the United States, Germany, Japan and the United Kingdom by the end of the year.