Overview of the Loyalty Program
Coinbase Wallet, a popular self-custody solution, has unveiled an exciting loyalty program designed for its users who frequently engage in trading. This initiative rewards traders with weekly rebates of up to 50% on eligible exchange fees, paid in USDC.
Rebate Structure and Levels
The loyalty program classifies users into distinct tiers, depending on their trading volume over the preceding 30 days:
- Explorer: For users trading under $5,000.
- Trencher: For those trading between $5,000 and $24,999, earning a 15% rebate.
- Pro: For users trading $25,000 or more, with a 30% rebate.
- Legend: For traders who reach a volume of $100,000 or above, receiving a 40% rebate.
- VIP: For elite traders with a minimum of $500,000 in exchange volume, who qualify for the maximum 50% rebate.
Rebates are assessed based on the actual exchange fees accrued by Coinbase Wallet after applicable discounts, excluding any network or gas fees incurred during transactions.
Dynamic Updates and Eligibility
Tiers in the loyalty program are updated daily. As users trade more, they can immediately benefit from higher rebate rates once they achieve a new tier. Conversely, if trading volumes decline, users can drop only one level per week.
Each trading wallet maintains its volume separately, ensuring that performance across multiple wallets does not merge. Additionally, users automatically accumulate eligible rebates weekly in USDC, without the hassle of entering codes or manually claiming their rewards.
Incentives for New Users
New entrants into the Coinbase Wallet ecosystem can take advantage of a referral promotion. By signing up through a friend's referral link, they can earn up to $35 USDC on their first exchange, as well as a 10% discount on eligible trading fees. Notably, all transactions made during this promotional period will count towards their tier progression.
Referrals and Additional Benefits
Active users who share referral links can earn 25% of the net fees generated by Coinbase Wallet from their friends' eligible trades, paid out in USDC, which provides an additional avenue for rewards. Furthermore, VIP users are afforded exclusive benefits, including direct contact with the product team, early access to potential new features, and invitations to special events.
While this program is appealing, users should be aware that certain regional restrictions and eligibility criteria are in place. Terms of the program are subject to change or termination at Coinbase's discretion, so active users are encouraged to stay updated on any modifications to the terms or structure of the loyalty program.
Tag: Loyalty Programs