The crypto exchange has just decided to charge users for withdrawing assets from the platform. The company had been covering the costs so far. Coinbase has reported:
"To ensure a smooth experience for our customers and reasonable transaction processing times, Coinbase Pro will charge a fee based on our estimate of the network transaction fees that we anticipate paying for each transaction. In certain circumstances, the fee that Coinbase Pro pays may differ from that estimate. All fees we charge will be disclosed at the time of your transaction."
The recent upturn in activity in the crypto market has led to an increase in fees on various blockchains. Thus, over the past weeks, the price of gas in the Ethereum network has constantly exceeded 100 gwei, and yesterday it skyrocketed to 700 gwei after the distribution of tokens in the Uniswap exchange. As a result, the Ethereum miners managed to earn almost $1M in fees in just one hour. Coinbase said:
"Historically, Coinbase Pro has absorbed these fees on behalf of our customers. However, as crypto has begun to gain broader adoption in applications like DeFi, payments and other projects, networks have gotten busier."
However, crypto transfers between verified Coinbase accounts are still free of charge.
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