Coinbase always “believed that merchant adoption is key to Bitcoin going mainstream”, so the platform has announced that is not charging any processing fees to merchants until they reach $1 million in transactions.
“We wanted to lower all barriers for new merchants to get started, and help highlight some of the economic benefits of accepting Bitcoin”, Coinbase adds in their blog.
This means that the platform is waiving to their fee of 1% until the merchants reach a certain level of transactions. After the first million is reached, Coinbase will go back to charge the usual processing fee.
This possibility is available to every merchant that signs up to use the service. Coinbase’s new feature might really help small entrepreneurs that want to open their businesses’ doors to cryptocurrency.