2 years ago
201 Coinbase crypto exchange wants to test a subscription-based service that will allow its users to access certain features.
The US-listed exchange wants to offer some additional features such as zero-fee trading and prioritized phone support for users who will install “Coinbase One”, its brand new product.
Some Coinbase users received access to the beta version of the new service yesterday. Some of the users posted screenshots on Twitter, expressing their excitement for the new product.
“Is @Coinbase getting ready to launch a subscription service w/free trade?” one of the screenshots reads.
The Fee For The Subscription Service Is Still Not Known
Coinbase confirmed that the company is about to launch the service. However, when it is launched, it will be available to a select group of users. It plans to make the service available to all users in the future. But, it’s not clear how much the crypto exchange will charge for a subscription to the new service.
“Coinbase has started testing a subscription product for our customers,” a spokesperson noted for the company.
In the testing phase, users will be able to transact digital currencies on the platform without paying any Coinbase fee. However, spread fees will still apply to all users.
The spokesperson said Coinbase is looking to offer different services and provide more options to its users.
He added that the project is still in its testing phase. As a result, the future of the product will depend on the kind of review it receives from users.
The Service To Have More Account Protection
Coinbase hopes to provide more account protection in the new service, based on the screenshots shared by some users. The screenshot reads that a user is eligible for reimbursement of up to $1 million if their fund is stolen by an unauthorized person. However, this protection is applicable in cases of an account takeover.
The San Francisco-based firm is the largest crypto exchange in the United States. It also has the record of being the first crypto exchange to go public after listing on Nasdaq in April this year. Its share price fell shortly after its public listing but has since regained ground.
