Coinbase Debuts Zero Trading Fees via Advanced Trade for 30 Days in the UK
- Coinbase has launched zero trading fees for all users of its Advanced Trade product in the United Kingdom.
- The promotion will be available for a select period of 30 days, starting from September 8 to October 7.
- The exchange has confirmed that maker and taker fees will be reduced to zero for a limited time.
- Customers in the UK have also been given access to the liquidity in the USD markets.
The largest crypto exchange in the United States, Coinbase, has announced that it will remove all the trading fees on its Advanced Trade product for users in the United Kingdom. This move comes at a time when the crypto space has witnessed a strong decline in prices in the past few weeks, while liquidity has also gone down significantly.
As per a report from TheBlock, a spokesperson from Coinbase confirmed that the promotion will only be available for a select period of 30 days, starting from September 8 to October 7. It is important to mention here that typically, Advanced Trade fees are capped at less than or equal to 0.4% for maker trading orders and less than or equal to 0.6% for taker trading orders.
Interestingly, for users based in the United Kingdom, Coinbase has confirmed that maker and taker fees will be reduced to zero for a limited time period. The Senior Director of Product Management, Scott Shapiro, said:
“The reason we are running this campaign is because we have made a number of improvements to the advanced trading experience over the past year, and we want UK traders to experience those updates for themselves and share their feedback with us.”
Additionally, customers in the UK have also been given access to liquidity in the USD markets. Shapiro claimed that Coinbase users outside the US have been requesting the ability to trade in the exchange’s highly liquid USD markets. Shapiro confirmed that the exchange had “unified our USD and USDC order books so you can trade on these liquid USD markets using USDC, so you can get the same price execution without holding USD to trade on USD markets.”
On the other hand, traders who hold USDC can earn up to 5% in rewards, confirmed the Coinbase executive in the statement.
As reported earlier by BitcoinWisdom, the leading crypto exchange recently decided to shift its priorities to other crypto-friendly regions, including the EuropeanUnion, the, United Kingdom, Canada, Brazil, Singapore, and Australia. The firm will work towards “acquiring licenses, registering, and establishing and strengthening operations” in these countries.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
