Coinbase embeds a markup in the quoted price of cryptocurrency on top of the market rate for buy and sell transactions, in addition to any stated transaction fee. This spread is not expressed as a separate line item and is incorporated into the price shown to the user at the time of transaction.
This analysis describes what Coinbase's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes that the total cost of a Coinbase transaction consists of two components: a disclosed transaction fee and an undisclosed-in-advance spread embedded in the asset price. The aggregate effective cost to the user therefore exceeds the transaction fee line item displayed, and the spread amount is determinable only by comparing the Coinbase quoted price to a reference market price at the time of transaction.
Interpretive note: The document discloses the existence of a spread but the precise quantification mechanism and timing of disclosure relative to transaction commitment are not fully specified in the available document text.
The updated fee schedule removes the pre-published 1% fee for instant unstaking and instead discloses the fee only at the moment a user requests to unstake. This means users can no longer review the exact cost before initiating a transaction through the published schedule. The revision also explicitly includes converting a pending standard unstake to an instant unstake as a fee-triggering action. No fee continues to apply if a user waits for the full unbonding period.
View change record →Severity downgraded from high to medium, specific 0.50% spread percentage removed, and clarification added that spread is not a separate fee.
View full change record →This provision establishes that consumers pay both a transaction fee and a price markup on every cryptocurrency purchase or sale. The spread component is not separately quantified in advance, meaning the total cost of a transaction is not fully captured by the transaction fee figure alone.
How other platforms handle this
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"Coinbase includes a spread in the price of cryptocurrency for buy and sell transactions. The spread is the difference between the price Coinbase buys or sells cryptocurrency and the price available in the market. Coinbase does not charge a separate fee for the spread.Excerpt from Coinbase's Fee Schedule
1) REGULATORY LANDSCAPE: The spread disclosure practice engages FTC Act standards on unfair or deceptive acts or practices, particularly guidance on drip pricing and the requirement that material cost components be disclosed prominently.
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This provision establishes that the total cost of a Coinbase transaction consists of two components: a disclosed transaction fee and an undisclosed-in-advance spread embedded in the asset price. The aggregate effective cost to the user therefore exceeds the transaction fee line item displayed, and the spread amount is determinable only by comparing the Coinbase quoted price to a reference market …
This provision establishes that consumers pay both a transaction fee and a price markup on every cryptocurrency purchase or sale. The spread component is not separately quantified in advance, meaning the total cost of a transaction is not fully captured by the transaction fee figure alone.
ConductAtlas has identified this type of provision across 231 platforms. See the full comparison.
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