Coinbase Pro will no longer cover transaction fees for users - Cryptocurrency exchange Coinbase Pro will shift fees for withdrawing assets from its platform to users. Until that time, Coinbase Pro covered related costs on its own.

Coinbase Pro will no longer cover transaction fees for users

Coinbase Pro cryptocurrency exchange will shift fees for withdrawing assets from its platform to users. Until that time, Coinbase Pro covered related costs on its own.

“To ensure a seamless experience and reasonable transaction processing times, Coinbase Pro will charge fees based on its own estimate of the network's transaction fees. Under certain circumstances, the fees paid by Coinbase Pro may differ from the estimate. All fees collected will be disclosed at the time of the transaction, ”writes Coinbase.

The recent renewal of activity in the cryptocurrency market has led to an increase in fees on individual blockchains. So, in Ethereum networks for last weeks the price of gas has constantly exceeded 100 gwei, and yesterday jumped to 700 gwei against the background of the distribution of tokens on the Uniswap exchange. As a result, the ether miners for one hour almost $ 1 million was earned on commissions. At the same time, about 70,000 users were trying to get the tokens due to them.

“Historically, Coinbase Pro has covered these fees for the benefit of customers. However, as cryptocurrencies become more widespread in applications such as DeFi and payments, the load on the networks has increased, "the exchange said..

Cryptocurrency transfers between verified Coinbase accounts are still free of fees.

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