Leading cryptocurrency exchange, Coinbase, has announced the upcoming launch of a new subscription service named “Coinbase One.” As part of an ever-improved global strategy, the service is poised to make its debut in 35 countries. Initially, however, only customers in the United Kingdom, Germany, and Ireland will enjoy the privileges of the new service at first.
Unveiled on May 18, Coinbase One proposes to offer a package of features. Subscribers will reap benefits such as zero-fee trading and augmented staking rewards. Additionally, Coinbase One will be a subscription service and will cost $29.99 per month. The company plans to further enhance the value proposition of the subscription by partnering with various industry players. Some of the main partnerships included are with Messari and CoinTracker and will offer exclusive benefits to its members. Future collaborations with entities such as Alto IRA, Blockworks’ Permissionless, and Lemonade are also in the works. This news suggests that Coinbase is working to further extend the array of member benefits.
Coinbase took to Twitter to publicize their new offering, announcing that with Coinbase One users will unlock zero trading fees and receive boosted staking rewards. To sweeten the deal, Coinbase One will also provide members with around-the-clock access to a dedicated support team, who will promptly resolve any technical account issues that may arise. The service will also cater to its U.S. subscribers by offering a pre-filled tax Form 8949, thus automating the organization of transactions and making the filing of cryptocurrency taxes a breeze.
This move follows the recent introduction of the Coinbase International Exchange on May 2. The new platform, specifically tailored for trading crypto derivatives, underlines Coinbase’s strategic pivot to broaden its international footprint in response to regulatory hurdles faced in the U.S.
Brian Armstrong Claims Coinbase Is FullyCommitted To U.S. Market
While Coinbase continues to expand its operations across the globe, CEO Brian Armstrong reaffirmed his unwavering commitment to the U.S. market, stating that he is “100% committed”. The advent of Coinbase One underlines this dedication, promising to provide enhanced convenience, increased support, and value-added services to customers, enhancing the overall cryptocurrency trading experience. The service is expected to further cement Coinbase’s standing as a go-to platform for cryptocurrency enthusiasts and traders.
Crypto Community Mock Coinbase One
While Coinbase is currently celebrating its newest service, the community does not really like it. @borovik.eth, a very influential “degen” in crypto Twitter, stated that he sees this as the “biggest letdown ever.” The comments are filled with other people mocking Coinbase for the new service they announced. However, the mocking isn’t focused on the service itself, but the way it was announced. This is because Coinbase announced a service that users have to pay in the same way a normal company would announce an innovation of some kind.