Why Kraqen and other exchange of what you subscribe?

After years, relying on complaints on trading fees, CRIPTO exchange appears to experiment with subscription models in a possible change in predictable business models.

Cripto exchange is no longer just places to buy and sell cryptocurries. As trading volume remains voltable – sometimes rocks in hours – platforms like Kraken and Coin They are converted to subscriptions in a more stable income search.

Over the years, crypto traders have seen the distribution wide range of services – from decentralized platforms and Standby products to NFT MarketplacesClinical characteristics and grids for peer-peer. But most of them still rely on users who decide to trade on impulse, making hard to predict.

Instead of relying exclusively on transaction fees, exchanges now explore ways to create a stable income and offer more consistent experience. Pauline Shangett, Chief Director’s Officer AlterationHe said in an interview with CRIPTO.NEVS that exchanges and similar services “are less need new income flows and need more stable and predictable.”

“When all revenues depend on market traffic, which can be dramatically based on news and circumstances, for example, not all exchanges last” crypt’s winter “, because they expanded their staff and budget for marketing and marketing budgets.”

Pauline Shangett

Shangett noticed that models and subscription services, whose demand does not depend directly on the market “Allow companies to plan better for the future and are engaged in lower risk and ultimately providing higher levels of service.”

“Changen’s and Nov Novter also offers subscription options, special offers and access to additional services, for example, our subscribers can check their and their addresses of their parties for any suspected funds. In general, yes, this model and their clients.”

Pauline Shangett

‘Designed to offer real value’

Kraken is the latest to join the trend, introducing Kraken +, Premium membership that offers trading zero fees and reinforced rewards for $ 4.99 per month. According to a announcementKraken + allows users to trade up to $ 10,000 a month free of charge on current purchases through your main application. Subscribers also earn up to 4% apr to a USDG that is held with exchange.

In an interview with Crypto.News, Mark Greenberg, Global Consumer Head in Kraken said that the launch of Kraken + came as a “direct response to what we heard from our clients.”

“People want more usefulness with platforms that believe in, they have their farms, without having to jump through the hoops. For a cluster. For a small monthly benefit, clients in one month’s advantage and stemples. It is designed to be delivered at one time.” It is designed to be submitted during the day to offer the actual value. “It is designed to make everything significant at one point.” We were at one point.

Mark Greenberg

Technically, Khaken follows Kointbase footsteps, which started a similar product in 2023. years. Coinbase ones offers Trading free of charge, priority support and other perks – although at a significantly higher price of $ 29.99 per month. Premium version, coin One premium, adds unlimited trade from zero fees, 25% back to coinbass advanced points and improved rewards, all for $ 299.99 per month.

Profitable work

Although it may be too early to measure long-term profitability, the coin previously reported a strong swing. In your February Shareholders’ letterThe company announced that the revenue from subscription and services reached $ 2.3 billion in 2024. years, 64% compared to 64% compared to the year and more than four times higher than while driving from 2021. Years.

“Means of one subscribers are in each quarter of 2024. Years, because we have expanded the benefits of accounts and geographical availability in Q4. Retained retention is tend to subscribe to deepen their engagement on our platform.”

Coin

Coinbase said that by the end of 2024. The number of taverns even 600,000, from 50% of K1 2024, encouraged the end of the annual surge in crypto in the markets that Bitcoin passed $ 90,000. Greenberg said Cripto.News that Kraken expects “strong adoption” of his last product and plans to extend it further in the future

“It’s not just what is involved in launch, but how we continue to develop a client’s feedback. Our goal is to involve Kraken + the most furnished way to deal with the crypt.”

Mark Greenberg

As competition among exchanges, the subscription products could represent a more sustainable way forward. Whether these programs will submit a permanent value for users and the platforms remains to be seen. However, Greenberg Frames subscriptions as a trusting issue, saying Kraken is aiming to build a platform “that people want to remain not only for the product, but for a long-term journey.”