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Coinbase is trialing a subscription model that removes trading fees

You’re still paying, just less (probably).

coinbase app on phone
Image: KnowTechie

Coinbase has long been one of the easiest places to buy, sell, and trade cryptocurrency, and now it’s going to get even easier. The Block reports that Coinbase is testing a subscription service that gives subscribers perks like better support options and zero-fee trading.

The new subscription is tentatively named Coinbase One, and it’s in the trial stages with a small number of users. Those users enjoy things like priority phone support, even on weekends or holidays, and zero-fee transactions for buying, selling, or trading cryptocurrencies (with spread fees still applying).

A Coinbase spokesperson confirmed the details to Business Insider, adding that the product is “still in early stages” and might change based on feedback from the current testers.

It’s not just reduced fees, though. According to The Block, they saw a screenshot of the Coinbase One subscription benefits, and it will also include up to one million in losses in the unfortunate event that someone hacks your account. That might be worth the subscription fee on its own for many of the exchange’s 68 million users.

The extended support options are going to be a huge draw as well, as Coinbase’s customer support hasn’t been the best in the past when customers had issues with funds, or if their accounts were locked or hacked. Trying to get in touch with a real-life customer service agent was an exercise in futility for many, if the complaints on the Coinbase subreddit are to be believed.

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