Coinbase is working on a subscription model with insurance and no transaction fees

Coinbase is working on a subscription service where users will no longer pay transfer fees on transactions. Users could also insure their funds if their account is broken into.

The subscription will be called Coinbase One, The Block writes based on documents. Coinbase confirms to the site that it will indeed come with such a subscription model, although it is not known how expensive that will be. The subscription is tested among a small group of users. The subscription allows users to trade on the platform without paying the normal fees to Coinbase. However, users still pay spread fees when they buy or sell cryptocurrencies. Coinbase itself says that the subscription is still in an early phase and that the details are dependent on user feedback.

The Block writes that users also get better support from the platform. There would also be an option to pay up to a million dollars if it is stolen after an account break-in. However, Coinbase does not confirm those details in a statement.

Many details about what the subscription looks like exactly and how many users can use it for how long is not known. Crypto exchanges like Coinbase probably want to compete better with other online trading platforms like Robinhood. That also previously released a subscription service with which users no longer pay transaction costs for actions.