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Coinbase Pro changed its fee structure later this week, with low-end traders seeing a rise and higher paying customers paying less.
The San Francisco-based cryptocurrency exchange announced the news in a blog Friday, saying that as of March 22, market makers and takers that fall within the price range of up to 100 $ 000 will be subject to a total fee of 0.40%, compared to up to 0.30 percent (taker only) currently.
The level of $ 100,000 to $ 1 million will remain with the current total fee of 0.30%, but will be shared between manufacturers and policyholders, while lessees are currently paying the full amount. The $ 10 million to $ 50 million tranche also sees total costs unchanged at 0.20%, but split between manufacturers and licensees.
For other levels, however, there are discounts in the store. Greater than $ 100 million and over $ 1 billion, total royalties are reduced by 50%, while intermediate levels benefit from reductions of 20 to 30% (see image below). All levels are now seeing manufacturers take on some of the burden of fees.
The new fee structure is designed to "increase liquidity by reducing the delta between manufacturer and lessee fees," Coinbase said.
Economist and trader Alex Kruger exposed the changes in a tweet with the following complete table:
Coinbase also announced that its Pro service and the Institution-Centered Premium platform would no longer support stop orders.
"All stop orders must now be submitted as limited orders and include a limit price. All orders currently open to the stop market will be canceled on Friday, March 22 at 18:00 PDT, "added the Stock Exchange.
Limit and stop orders are orders to buy or sell an badet when its price exceeds a specified level. However, stop orders can not be seen by the market until the transaction is completed.
According to the blog, Pro and Prime will also introduce a 10% market "protection point" for all market orders, meaning that market orders above 10% "will stop running and return a fill." part. "
"Protection points help prevent big orders from slipping more than 10 percent," the stock market said.
Image of parts via Shutterstock; table with the kind permission of Alex Kruger
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