Coinbase: The more Bitcoin you trade, the less you pay in fees

     San Francisco-based bitcoin exchange Coinbase has announced that it will implement a rebate system based on trading volume. The news was released via an official blog post, and the new system will take effect next week.

     The company will continue to implement a "seller-buyer" trading fee structure, but traders will be able to receive daily rebates for selling more Bitcoin on the exchange. The proportion of a trader's 30-day Bitcoin trading volume to the exchange's total trading volume will determine the amount of their daily rebate.

     Assume that in the past 30 days, there were 100 bitcoins traded on the exchange, and you completed 5 bitcoins during this period, then you accounted for 5% of the total trading volume. Coinbase will calculate (reduce) the buyer's fee based on this ratio. Coinbase will charge the buyer a 0.25% handling fee on each transaction.

     The daily rebate amount will be transferred to the user's account at 12:00 noon.

The detailed fee structure can be seen in the picture below.

     From the above chart, we can see that the fees that buyers need to pay range from 0.25% to 0.10%, while the fees for sellers remain at 0%. Buyers are a group of people who often price and complete transactions quickly. This also reduces the liquidity of the exchange order book.

     When a trade is not executed immediately, the order is placed on the order book. If another trade is made using your order, you become the 'seller' without paying a commission.

     Bitcoin exchanges believe that providing corresponding rebates based on trading volume will encourage traders to actively participate in the Bitcoin market and cultivate market fairness and competitiveness.