Into the Unchartered Territory

The best and worst thing about human life is that it revolves around changing landscapes. While such a dynamic might force us to stay on our toes and continuously adapt, it’s also probably the biggest reason behind our growth as individuals, and as a society. You see, the progressive theme of this reality has so far inspired us to consistently push our boundaries and create numerous tools that add value to our lives in one way or the other. However, if you have to pick the most impactful of them all, it has to be technology. As far as value in absolute terms is concerned, no other man-made tool even comes close to technology, with the creation’s brilliance succeeding in defining a whole era. The size of its achievements is reflected well in how drastically it transformed every major industry out there. One such area where the arrival of technology resulted in a complete makeover was finance. Finance sector’s transition to fintech has been an eventful process to say the least. Along this journey, we have witnessed a ton of chopping and changing, but none of that astounded us like virtual currency. The unique attributes, and consequentially, function of it is something we are still learning. Fortunately, we have certain platforms at our disposal to guide us through what is considered to be a slightly complex procedure. One go-to platform for the said task is currently Coinbase. In a bid to maintain its recognition as the largest and most trusted cryptocurrency platform, Coinbase has made several pushes focused at elevating the ceiling for cryptocurrency. Nevertheless, the company’s latest attempt takes it into bit of an unchartered territory.

According to The Block, Coinbase is testing a subscription service that cuts back on the trading fee for users by replacing it with a standard monthly fee. It’s an interesting move by all means mainly due to the rarity of such a model in the crypto sphere. Tentatively named as Coinbase One, the service removes any need for you to cough up a fee on every single executed trade, therefore massively decluttering the overall experience. It must be noted, though, that this is not supposed to take out the spread fees out of the equation.

A spokesperson from Coinbase has formally confirmed the news.

“We’re always looking to learn more about how we can best serve our customers in different ways. Right now, we are still in early stages, so everything about the future product experience will be shaped by the feedback we receive from our users,” the spokesperson said.

Apart from the scraping of trading fees, the company is also planning to introduce two new features in priority phone support and account protection feature. The former looks to be motivated by growing reports about hacking and users getting locked of their account, whereas the latter will act as an insurance cover by offering a compensation upto $1 million in a case where user’s funds are stolen.