Limiting usage vs. limiting features for mobile app subscriptions

I want to monetize my iOS app using a monthly subscription. I am trying to decide between 2 models:

1. Limit Features: Base app has a limited set of features. Subscribing gives access to all features.
2. Limit Usage: Base app has all features, but the usage is limited (e.g you only can post x pictures per month). Subscribing removes these limits.

Which of these options is better in terms of user experience, customer satisfaction, conversion rates, etc?