Coinbase One offers value for frequent traders with its zero trading fees, priority support and account protection.
Excelling at crypto trading requires using the best tools available. That’s where Coinbase One comes in — a premium subscription service designed to enhance your trading experience.
But is Coinbase One worth it? Imagine trading without fees, accessing priority support and enjoying added account protection for just $30 per month. Coinbase One isn’t just a service; it’s an investment in your crypto aspirations. Jump into this Coinbase One review and explore what sets it apart and whether it’s the key to the optimal trading experience.
Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.
What is Coinbase One?
Coinbase One is an exclusive subscription-based service offered by the Coinbase cryptocurrency exchange. It provides a range of enhanced features and benefits to users who pay a monthly fee of $29.99.
The key features of Coinbase One include:
- Zero trading fees: Subscribers enjoy zero fees on simple trades, though they are still subject to the usual spread fees associated with trading cryptocurrencies. This waiver can provide significant savings for frequent traders.
- Priority customer support: Coinbase One members have access to a dedicated 24/7 support team, allowing them to receive prompt assistance with any issues or questions.
- Boosted staking rewards: Members receive higher rewards for staking certain cryptocurrencies, allowing them to earn more from their holdings.
- Enhanced account protection: Coinbase One offers up to $1 million in insurance coverage for losses from a vulnerability or deficiency in Coinbase systems.
- Pre-filled tax forms: Coinbase One members receive a courtesy pre-filled Form 8949 that which can simplify the tax filing process for cryptocurrency transactions.
- Exclusive sweepstakes and partner deals: Coinbase One subscribers are eligible to enter exclusive sweepstakes and have access to limited-time partner deals not available to regular Coinbase users.
Is Coinbase One Same Thing as Coinbase Pro?
Coinbase One and Coinbase Pro are not the same; they cater to different user needs within the Coinbase ecosystem. While Coinbase One is a premium service with a focus on ease of use and added benefits for individual users, Coinbase Pro (replaced by Advanced Trade) is tailored towards experienced traders looking for a more robust trading platform with professional tools and competitive fees.
- Purpose: Coinbase One is a subscription service for users who want additional benefits like zero trading fees on simple trades, priority support and account protection. Coinbase Pro was a platform for more experienced traders and businesses, offering advanced charts and lower transaction fees. However, it has been replaced by Advanced Trade within the main Coinbase app.
- User interface: Coinbase One integrates seamlessly into the standard Coinbase interface, providing a user-friendly experience with added perks. Advanced Trade (formerly Coinbase Pro) offers a more complex interface with detailed analytics and trading tools suitable for seasoned traders.
- Fees: Coinbase One charges a monthly subscription fee of approximately $30, with benefits like zero trading fees for simple trades. Advanced Trade uses a maker-taker fee model with up to 0.6% per trade, which can be reduced for high-volume traders.
- Features: Coinbase One subscribers get account protection, tax assistance, exclusive partner benefits and more. Advanced Trade features are tilted toward advanced users, such as detailed charts, lower fees and more granular control over trades.
Where is Coinbase One Available?
Coinbase One is accessible in over 30 countries, including the U.S., U.K., Canada, Germany and Ireland. While currently limited to these regions, Coinbase may expand availability to all 100+ countries where its services operate. Such an expansion would align with Coinbase’s aim to offer comprehensive services to a global audience.
What Are the Benefits of Coinbase One?
Coinbase One offers a suite of benefits designed to enhance the cryptocurrency trading experience. The benefits of using Coinbase One include:
- Fewer fees: You’ll enjoy zero fees on trades up to a limit of $10,000, providing significant cost savings, especially if you trade frequently. However, your trades are still subject to bid-ask spreads.
- Priority customer support: You can get issues or queries resolved promptly with the Coinbase One dedicated 24/7 support.
- Enhanced account protection: Losing crypto through hacks and security breaches is one of the biggest fears of crypto traders. Coinbase One offers up to $1 million in insurance coverage in case of deficiencies in their system.
- Tax filing simplicity: Subscribers receive a pre-filled Form 8949, simplifying the complex tax filing process for cryptocurrency transactions.
- Exclusive partner deals: As a Coinbase One member, you have access to exclusive sweepstakes and partner deals that are not available to regular Coinbase users, adding value beyond just trading. For example, 90 days of crypto markets and analytics are available from Messari.
- Boosted staking rewards: Earn higher returns on your staked cryptocurrencies, maximizing your investment potential.
What Do Users Say About Coinbase One?
Users appreciate the benefits of insurance coverage, customer support and cost savings on trading fees. While some users found these features to be worth the subscription cost, others have expressed concerns or mixed opinions about Coinbase One and the overall Coinbase platform.
One user mentioned, “I personally like it because of the $1m insurance, 24/7 phone support and cheap fees when trading in the advanced tab.”
Another user expressed, “For me personally, the insurance is the real value proposition. Having that piece of mind helps me sleep easier, not to mention actual customer support.”
The fine print of the insurance shows that it does not necessarily protect against all hacks — only those based on Coinbase vulnerabilities and not whether you’ve compromised your own account security.
Another user noted: “I’ve definitely saved in fees what it costs per month.” Although Coinbase One saves you fees, the cap on trading volume for zero fees is $10,000.
Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts
Exploring the Coinbase One Advantage
Coinbase One offers a premium subscription service tailored to elevate your cryptocurrency trading experience. With zero fees (capped at $10,000 in volume), priority support and enhanced account protection, it’s an investment worth considering, especially if you trade frequently. Just make sure you read the fine print to see how the benefits apply.
Although currently available in over 30 countries, there’s potential for global expansion, aligning with Coinbase’s commitment to serving a diverse audience. Still unsure if Coinbase One is for you? You can try it for free for a 30-day period to experience its benefits firsthand before committing.
