Now, with this new initiative, the owners of blogs and website can cash using the Coinbase referrals. As per the announcement, the exchange affiliates will retrieve 50% worth of the trading fee direct from the referral that too for the initial three months.
Moreover, the fee will be applicable for the sell as well as buy orders; also, it will work for PayPal and crypto payout as well. Apart from this Coinbase will provide the promotional assets along with tracking tools to the participants of the referral program.
It seems that the program by Coinbase is more flexible in comparison to the other programs by KuCoin or Binance. Also, the programs by these platforms allow investors to earn worth percentage from trading fees direct from all their referral.
The Goal Of This New Referral Program
Coinbase has been focusing on attracting more people on its platform from quite a time now. They were looking to perform well in a bid to close the crypto winter over past 13 months. There were also reports regarding Coinbase to opt for a subscription model relevant to the investors who are looking to cut back the transaction fees.
Like various major exchanges receives most of its revenue from a fee issuance during transactions. However, Coinbase might be looking for using a subscription model for investors.
This situation just follows a survey conduction which reveals many users were showing interest in their subscription model. Also, the survey aims at reforming the fee structure for it to maintain a competition within the crypto winter.
Right using this model, clients can pay a monthly or annual fee which will allow them to access lower fees. However, the details regarding potential perks are not mentioned in this survey.
Analyzing The Active Users
The latest report reveals that Coinbase attract the most active users from all crypto exchanges. Moreover, the platform holds around 100 thousand major active traders as compared to Binance. In fact, it retrieves a mere four times worth active users than the third and fourth ranking exchanges.
However, the individual user seems to only contribute quite small amount of trading volume. The exchange ranks the lowest with regards to the transaction volume as that of the top four exchanges.
Today, the exchanges are making most of its money via fees, which is not surprising, as Coinbase currently is seeking to implement a new method, monetizing its services. This might be successful if they go smoothly with it.