Coinbase Launches Referral Program Paying out 50% of Its Trading Fees

Francisco Memoria

Coinbase, the largest cryptocurrency exchange in the United States, has recently launched a referral program that will see it payout 50% of its trading fees to those who successfully refer new users through it. The program is seemingly competing with those of KuCoin and Binance.

According to a recently published blog post, the cryptocurrency exchange will reward affiliates through the program with the trading fees for three months, allowing for payouts in both cryptocurrencies – presumably those Coinbase supports – and PayPal.

The program seems to be selective, and appears to compete with those launched by other leading cryptocurrency exchanges, including Binance and KuCoin. These reward retail investors with a percentage of the fees from their referrals, and help the platforms grow. To enter Coinbase’s program, users have to fill out a form and be accepted.

Coinbase had 13 million users when it last updates its stats. According to ZeroHedge, it reached 10 million users back in September of 2017, and according to CEO Brian Armstrong it was adding 50,000 users a day that year.

Last year, the cryptocurrency exchange launched Coinbase Earn, which lets some of its users earn cryptocurrencies while learning about them. It also launched free instant withdrawal to PayPal for its customers in the US.

Its cryptocurrency trading platform geared for professional/experienced traders, Coinbase Pro, has been adding various cryptocurrencies. Last month, it added four ERC-20 tokens – Civic (CVC), district0x (DNT), Loom Network (LOOM), and Decentraland (MANA).