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Coinbase Founders Outline Small Fee Change During Q&A

Avatar Jayanand Sagar 5 years ago

Coinbase founders Fred Ehrsam and Brian Armstrong conducted a video question and answer session today this evening, and new information revealed by the two indicates that some changes when it comes to fees charged to users are in the works, among other things.

When it comes to that pesky $0.15 ACH/bank fee assessed to buys and sells, it’s gone. However, the one percent fee charged in addition to said $0.15 fee will still be charged to the customer. Thankfully, Coinbase might reduce that percentage further some time in the future.

The move likely comes with pressure from Coinbase’s competition here on the east coast, Circle. Circle, for the most part, does not charge users fees to buy or sell bitcoins.

Aside from fees, some other information about the service was revealed from the Q&A session. For example, Coinbase is planning to roll out support for multi-signature transactions to users some time in the next week (which includes support for the company’s Vault product).

If you’re interested in viewing the full Q&A session, you can watch it below. The video runs a little over an hour.

[ot-video type=”youtube” url=”https://www.youtube.com/watch?v=w3OWzZSr8Nc”]

Are Coinbase’s fee changes good enough? Or do you think they’ll have to work further to remain competitive with Circle?

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