Coinbase has launched commission-free USDC trading in the UK

Posted: 13 December 2022 12:23 pm

Coinbase launches commission-free USDC trading in the UK.

Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.

Crypto exchange Coinbase has waived its commission fees when you buy or sell the stablecoin USDC using a currency other than US dollars.

USDC is a stablecoin that’s pegged to the US dollar on a 1:1 basis. Every USDC in circulation is backed up by $1 or asset with equivalent fair value held in reserve with US regulated financial institutions.

In 2018, Coinbase co-founded the Centre Consortium which developed USDC. Its aim was for USDC to be accepted by as many wallets, exchanges, service providers and dApps (decentralised applications) as possible.

And Coinbase says that it wants “to build more on-ramps for users to access USDC”, which is why it says it waived commission fees for buying or selling USDC on its platform.

In addition, Coinbase customers in the UK can earn up to a 1% yield on their USDC holdings.

USDC NO COMMISSION DISCLOSURE: This feature may not be available to all regions. No commission fees attributed to Coinbase will be charged until further notice. However, spread, and processing fees charged by third party processors, will continue to apply.

USDC EARN DISCLOSURE: Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, visit Coinbase's USDC rewards FAQs. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts.
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Cryptocurrency is not regulated by the UK Financial Conduct Authority and is not subject to protection under the UK Financial Services Compensation Scheme or within the scope of jurisdiction of the UK Financial Ombudsman Service. Investing in cryptocurrency comes with risk and cryptocurrency may gain in value, or lose some or all value. Capital gains tax may be applicable to profits from cryptocurrency sales. Content is for informational purposes and is not investment advice. Past performance is not indicative of future results. Investing in cryptocurrency comes with risk. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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