Sponsored post – Coinbase is one of the most popular cryptocurrency exchanges in the world, and became the poster child for crypto alongside Bitcoin during the cryptocurrency’s meteoric rise to $20,000 in 2017.
Since then though, Coinbase has seemingly done everything in its power to put itself at risk in the face of increasingly stiff competition in the emerging market. The firm’s asset listing policy has resulted in new assets being added to the platform in an extremely slow and frustrating manner.
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There was a recent scandal where Coinbase acquired a team of former hackers, and most recently, Coinbase upset its entire user base by increasing their fee structure for regular users with reasonable amounts of capital, while lowering fees for their wealthiest clients.
The recent turmoil created by Coinbase themselves has prompted a social media campaign dubbed #DeleteCoinbase, aimed at convincing Coinbase users into sending their funds to a different exchange, and deleting the Coinbase app from one’s smartphone.
Comparing Other Crypto Exchange Fees Against Coinbase Changes
While Coinbase is faltering, they are potentially creating an opportunity for their fiercest competitors to swoop in, and steal customers and ever-important market share.
For transactions under $100,000, Coinbase has raised their total fees by 33%. Coinbase had been known for its 0% maker fee, with a low taker fee of 0.30%. With the most recent change, Coinbase now charges 0.15% on maker fees and 0.25% on taker fees, taking the total fee from 0.30% to 0.40%.
Another US-based cryptocurrency exchange, Kraken, beats Coinbase but only by a tiny amount, offering 0.14% on maker fees and 0.24% on taker fees. Bitfinex, another popular cryptocurrency exchange sets their maker fees at 0.1% and their taker fees at 0.2%.
Elsewhere in the cryptocurrency market, fees are even lower. At Binance, maker and taker fees are just 0.1% each for any orders under $400,000 or 100 BTC. And that’s not including the 25% discount traders can gain by electing to use BNB to pay for fees.
PrimeXBT, a relative newcomer making waves for their 100x leverage and cutting edge trading tools, appears to offer the most attractive fee structure for the most active traders on the market today. Rounding out their offering, are the lowest fees out of any exchange at 0.05% across any trade type.
Binance and PrimeXBT To Lead Cryptocurrency Game in 2019
Not only should traders consider leaving Coinbase behind due to the ever-growing trading fees that put them far behind the rest of the competition, the Coinbase platform itself leaves a lot to be desired, and leaves crypto traders wanting more from their experience.
While Binance has a great reputation for safety and security, and can open traders up to a massive opportunity in trading altcoins for profit, that profit is currently limited due to the tight trading ranges across the market. Binance only offers simple buying and selling of assets, so there is no way traders can profit from the falling cryptocurrency market.
Sell orders don’t increase profits, it only protects capital from dropping due to asset value declining. Throughout the bear market, cryptocurrency prices have only fallen lower and lower, making a buy-to-profit strategy a losing one.
PrimeXBT on the other hand, allows traders to profit from both rising and falling cryptocurrency prices by allowing them to “go long”, or “short” the market. In addition to being able to profit whichever way the trend takes us, PrimeXBT offers 100x leverage.
100x leverage is the most serious trader’s solution to profiting during sideways trading, as we are currently seeing throughout the crypto market.
When trading ranges contract and prices consolidate, volatility disappears and price swings are smaller, fewer, and further in between. By margin trading with 100x leverage, traders can profit from even the smallest price movements.
In addition to 100x leverage and the ability to short sell against the market, PrimeXBT has all of the traditional features from other cryptocurrency exchanges, as well as a host of cutting edge features not found anywhere else in the space.
Traditional exchange order types such as market, limit, and stop orders join OCO (one cancels the other) orders and protection orders. These advanced order types can help a trader get the best entry or exit price, and generate the most profit possible.
Coinbase cannot remain a market leader if it doesn’t listen to the needs of traders everywhere. Traders want low fees, many assets to choose from, the ability to trade with leverage, and advanced order types.
There is a massive variety of exchanges to choose from each with unique benefits, but the leaders in the cryptocurrency market remain obvious. Traders who are looking to invest in and hold a variety of altcoins for long-term growth should choose Binance.
For active traders seeking to generate the most profit from their capital, who want to profit from both rising and falling markets, and generate profit from even the smallest price movements using 100x leverage – PrimeXBT is definitely the place to go.
Read more about PrimeXBT
Disclaimer: this sponsored post is part of a content partnership between Bitcoin Magazine NL and PrimeXBT. Bitcoin Magazine NL does not give any financial advice. This above information is only for educational purposes. Trade in cryptocurrencies is at your own risk.
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