The major US crypto exchange Coinbase launched the beta version of its new Coinbase One product that offers trading with zero fees on a subscription-based model.
The new product has already been rolled out to selected users in beta mode, Coinbase said on its website, adding that the users in question have received emails or app notifications with invitations to test the product.
Coinbase One promises users fee-free trading where the trader instead pays a monthly subscription fee for being part of the program, an offer that is likely to be most attractive to high-volume traders.
In addition to zero trading fees, the perks of being part of the program also include dedicated 24/7 phone support, and insurance of up to USD 1m against “unauthorized access” to the account.
Subscription fees can be paid through a linked bank account or by using cash available in a user’s USD balance, Coinbase wrote.
The company has not disclosed how much they will charge in subscription fees. Similarly, details about who has been chosen to participate in the beta test also remain scarce.
Reached by Cryptonews.com for a comment about the program, a Coinbase representative referred to their website and said the company has “nothing additional to add at this time.”
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