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When dealing with centralized exchanges, there are many factors one should take into account.
Trading fees, both for buying and selling, can quickly cut into one’s potential profits. Over the years, users have expressed their concerns over the fees charged by some companies.
Particularly Coinbase, as well as Coinbase Pro, are building up a very bad reputation in this department. On most centralized trading platforms, a fee of 0.2% is normal. When dealing with non-fiat exchanges, those fees are usually cut in half. That means one needs at least a profit of 0.3% per order to net a minor profit once the fees are subtracted. Coinbase Pro users, on the other hand, seemingly get shafted.
They pay a 0.5% fee for either buying or selling an asset on this exchange. That fee is at least twice as high compared to other popular trading platforms. Using the regular Coinbase platform is even worse, as its fees tend to spiral out of control. Despite these high fees, both Coinbase and the Pro version remain incredibly popular. That is part of the reason why both platforms continue to make a lot of money. Lowering these fees would not harm anyone, however. In fact, it may help to attract even more users over time.
Article Produced By
JP Buntinx
https://cryptomode.com/trading-fees-on-coinbase-pro-remain-too-high/
