Coinbase Tests Subscription-Based Service with Zero Trading Fees

Coinbase Tests Subscription-Based Service with Zero Trading Fees

Coinbase, a US-listed cryptocurrency exchange, 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, Coinbase One will be available to a small number of users, The Block said. The maneuver seems to be an attempt of the US-listed crypto exchange to diversify its revenue flows, although it’s not known yet what’s 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.

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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-based ERC-721 and ERC-1155 standards, and Coinbase confirmed it will have multi-chain support in the ‘near future’.

In October, the exchange also 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.