The highly anticipated Coinbase One beta is now live for eligible customers and many are already taking advantage of the free trading fees. I am one of those users and love knowing I can trade as often as I’d like while not worrying about the traditional trading fees.
How Coinbase One works
You will need a Coinbase account to have access to Coinbase One beta. Full-disclosure, there is a chance you might not have access to it just yet, but I highly recommend you keep an eye out for your invite. I was offered the first month free, with a $30 per month subscription after the month trial. You can cancel any time, so no long-term contracts.
Dollar-Cost Average with No Fees
Before the Coinbase One subscription, every trade I made, whether it was buying or selling a crypto asset, resulted in a trading fee. The value would change depending on the amount being traded. As you might imagine, this could get pretty steep sometimes. As someone who loves to dollar cost average (DCA), this wasn’t ideal. Now that I don’t have to worry about a fee per trade, I’ve now set up daily DCA into a few assets I’m bullish on.
This is not financial advice, but to show you what my DCA trades look like, see below:
Why Am I Excited About Coinbase One?
Sorry for being so repetitive, but the answer is dollar-cost averaging. Statistically, it’s the best way to get the most out of your investments, especially long-term. This goes for stocks, ETFs, and of course, crypto!
If you look at my daily and weekly trades above, those would normally cost me between $160+ a month on average just on the trading fees. With Coinbase One’s subscription, I am now paying just $30 a month. That’s remarkable!
What Other Features Does the Subscription Offer?
As a Coinbase One member you’re given access to:
- $0 trading fees: Take your portfolio to the next level with no trading fees.*
- Dedicated 24/7 phone support: Speak directly with a Coinbase One beta team member for help with any of your issues.
- $1M Account Protection: Keep your peace of mind knowing your account is protected from unauthorized access.
- Pre-filled Form 8949: Generate a pre-filled Form 8949 in Coinbase Taxes
Is Coinbase One for Me?
Coinbase One can be for anyone, really, but if you’re an advanced investor chances are you won’t use it. I consider myself a pretty advanced investor, but I don’t like feeling like I have to be glued to my portfolio all the time. There is a spread when buying on Coinbase, but that’s pretty standard on exchanges. Because I’m a long-term investor and really just want to be sure I’m putting my money into products I believe in, dollar-cost averaging with Coinbase One just makes sense. One of the biggest problems with new investors is they are trying to either
- A) Get rich quick
- B) Try to time the market
- C) Put off investing and then just never pull the trigger.
All of those reasons almost never work out in their favor, so it’s best to just set it and forget it. In this case, that’s why dollar-cost averaging makes sense.
Signup for a Coinbase account today and get your account ready for when the Coinbase One beta gets added to your portfolio. Happy investing!