Coinbase is one of the most reliable online platforms for trading digital currencies. From buying to selling, storage, and transfer of digital currency, Coinbase is absolutely a secure place to do all that.
The creators of this platform have stated that their objective is to create an open financial system all around the world while being a leading brand globally and well-positioned to help individuals and organizations convert digital currency into and out of their local currency. On the platform, you will surely experience ease in buying and selling your digital currency.
On this fantastic and user-friendly platform, you can:
- send or receive digital currency free from merchants, friends, or online wallets.
- rest assured that backups and security are professionally handled by the best hands, so you have nothing to worry about.
- experience the beauty of a digital “one-stop shop.” Coinbase offers an exchange, a wallet, and various merchant tools, all in a single, glamorous interface.
What Is Coinbase One?
Coinbase One is a new subscription product from Coinbase, a US-based exchange. Users are offered $0 in transaction fees, a dedicated 24/7 customer support service, a pre-filled tax form 8949, and account protection of up to $1 million.
Coinbase One is presently in Beta, and users get notifications upon opening the app or via email. This is if your availability is certain to take part in a testing program. You can take advantage of the free trading fees as an eligible customer on the Coinbase One beta.
The subscription fee is currently free for 30 days. You will then have to pay $29.99 the following month after this free trial if you wish to continue. You have the right to terminate this subscription at any time. Meanwhile, because the Coinbase One product comes in Beta, benefits and pricing may not remain constant.
Coinbase One Current Price – $29.99
Coinbase One operates on the $0 trading fees, although its subscription fee currently stands at $29.99 per month. Payments will be systematically billed every month through the linked bank account, any USD balance in your account, or the card on your file.
This subscription helps keep running the platform in order to give customers the smoothest possible experience. The fee is basically charged for deposits and withdrawals, and also, the fee is charged for borrowing, interests, or liquidation.
Coinbase One Fees vs Coinbase
Generally, there are no trading fees for Coinbase One; it offers $0 trading fees, making it the latest hotcake in the cryptocurrency industry. It should be noted that Coinbase One is not the same as Coinbase or Coinbase Pro. Coinbase Pro was previously known as GDAX and is the favored trading platform used to execute and complete orders placed through Coinbase.
For Coinbase (already explained above), users should ensure they have a deep knowledge of the platform and all the fees attached to avoid troubling and unpleasant situations. Coinbase applies the spread and margin fees to transactions, and there are also fees that are called Coinbase fees.
First, we take a look at the spread and margin fees.
a.Spread or Margin Fee: Coinbase explains the spread or margin fee as a service charge that amounts to as much as 2.00% added to the exchange rate on Coinbase Pro (the exchange platform charged with the processing of all transactions).
Coinbase Fee: This fee may not be easily understood by some due to different factors coming into play. For the Coinbase fee, a user is required to pay either a variable percentage of a transaction or a flat fee, depending on payment mode, product, and region.
Here are the flat fees charged by Coinbase:
|Total Transaction Amount||Transaction Fee|
|$10 or less||$0.99|
|Over $10, but maximum of $25||$1.49|
|Over $25, but maximum of $50||$1.99|
|Over $50, but maximum of $200||$2.99|
Variable Fees for U.S.-based Users:
|PAYOUT MODE FOR SALE OR PAYMENT MODE FOR PURCHASE||CONVERSION RATE FEE (FOLLOWING WAIVER)|
|U.S bank account||1.49%|
|Coinbase USD wallet||1.49%|
|Debit card buy||3.99%|
|Instant card withdrawal||As high as 1.50% on any transaction, with $0.55 being the minimum fee.|
When previewing transactions, Coinbase takes into account both categories of fees. For example, a U.S.-based customer who makes a purchase of more than $202 will have a few assessments at a rate of 1.49% up to the highest purchase fee.
You should also know that the secret to reducing and cutting back on fees on the Coinbase platform is having a good understanding of the link between Coinbase Pro and Coinbase.
5 Benefits To Using Coinbase One
1. Pre-filled Tax Form 8949
Once you subscribe to this product, you become eligible to download a thoroughly and totally filled out form 8949 because you have reported their cryptocurrency taxes.
This feature is perfect for traders who often trade because they tend to file their taxes accurately and as quickly as possible. It is important to know that this tax form is open to those who trade via Coinbase.
2. 24/7 Customer Support
For every subscriber, there is 24/7 customer support that you can reach out to for all your questions, inquiries, suggestions, etc. This dedicated support line has been set up to promote support for customers with regular accounts.
This benefit is so underrated by some competitors, but this Coinbase One platform values customer relationships, subscribers’ interests are a priority, and that is why every subscriber has the assurance of being able to get in touch with the platform via customer service from anywhere at any given time. This feature may give some users peace of mind as they know they can call in and quickly get answers to questions about their accounts.
3. $1 Million in Account Protection
This is an incredible characteristic of the Coinbase One product. It is a very valuable attribute that means that every subscriber’s account is protected and secured by as high as $1,000,000 in US dollar value of losses should there be any case of an account being hacked. Mouthwatering right?
Although termed in US dollar value, it also relates to digital currencies. For example, if you hold BTC on the Coinbase platform and have your account hacked, there is protection that makes up for the loss of that BTC.
4. $0 Trading Fees
As long as you trade on Coinbase One, you will not be charged any trading fee when swapping between fiat and crypto or between cryptocurrencies. This ensures the product remains the perfect option for anyone involved frequent trading at high capacity.
5. Superior Staking rewards
As a subscriber, you have access to a higher percentage of all assets you stake.
Undoubtedly, Coinbase One is a pathway to help digital asset owners transact and trade seamlessly. Every user should make sure they review the fee schedule appropriately and understand all that is stated in it.
Users must also complete every necessary process of identity verification on the platform to be able to join the many subscribers who are enjoying the protection of their assets on this platform. Eligible users will be notified via email and in the product about the 30-day free trial opportunity. You’ll receive the same benefits as paying Coinbase One beta users.
Remember, at the close of the 30 days trial, you will be automatically added to the list of those registering for the monthly paid subscription of $29.99. If you are not interested, remember to cancel it before the free trial runs out to avoid being charged. You can also opt out of the subscription at any convenient time.