Coinbase and Bitcoin SOPA images SOPA Images
The Block reported that Coinbase is testing a subscription-based service for a limited number of its users.
Coinbase One will offer no-fee trading as well as enhanced phone support.
Users could also be eligible to receive up to $1 million in reimbursement if they are hacked.
Coinbase is currently testing a subscription service that will include improved support and feeless trading.
The Block first reported that Coinbase, a cryptocurrency exchange, will launch a service called Coinbase One for a limited number of users. According to the Block, the new service will include priority phone support including weekends and holidays as well as zero-fee trades.
Insider was informed by a spokesperson for the company that customers will be able to buy, sell and convert cryptocurrency without incurring any fees. Spread fees however would still apply.
"We are always learning more about how we can better serve our customers in different ways. The spokesperson stated that we are still at the early stages of development and all future product experiences will be determined by feedback from users.
According to a Block screenshot, the new service will include additional account protection, which would allow users to be eligible for reimbursement of up to $1,000,000 if they are hacked.
Coinbase was the first major cryptocurrency exchange that went public. Although its shares fell shortly after it was made public via direct listing on Nasdaq, they have since recovered some ground. Shares have risen by approximately 50% since October's beginning and were trading at $339 on Wednesday.
Bitcoin, the most valuable cryptocurrency according to market capitalization, has seen its price rise in the past month. However, it is trading lower than the October record of $67,000.
