Coinbase Helps Clients Save 75% In Fees By Batching BTC Transactions
Main page News, Bitcoin, Cryptocurrency Exchanges

Popular crypto trading platform Coinbase claims that thanks to its Bitcoin transaction batching system, its clients have saved up to 75% in fees so far this year, the exchange has announced through a blog post.

The batch processing of Bitcoin transactions in both Coinbase and Coinbase Pro was launched by the platform 5 months ago. The system reduces the load on the Bitcoin blockchain by grouping several submission requests into one, which in turn reduces the fees clients have to pay.

According to the exchange, the implementation of this batch processing system has allowed it to reduce the number of daily transactions by 95%. This is considered a great milestone by Coinbase, as the platform is getting the same results with much less effort.

Coinbase says, "since launching on March 12th we have batched 100% of Consumer and Pro customer withdrawals. Over this time period, we have realized a 75.2% reduction in transaction fees saved, and passed 100% of those savings on directly to the customer."

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error