I'm sure they are profiting off of these high prices.įor example, when I bought $10,000 worth of BTC on Coinbase, I was charged 1.5%, which is $150, which means by buying BTC on Coinbase, I already automatically lost 1.5% of my investment. Their cryptocurrency prices are always much higher than the prices on other exchanges. The fees charged by Coinbase in some transactions can cost up to hundreds of dollars in fees alone, and this doesn't even factor in the high prices(spreads). But I was even more shocked when I looked at the website and realized how much higher Coinbase has been charging me compared to other exchanges. I've been using Coinbase for a while now and noticed their charges for purchasing cryptocurrencies are higher than other exchanges. I have had enough of the exorbitant fees and high prices that Coinbase charges its users for buying cryptos. r/CryptoCurrencyMemes r/CryptoCurrency_Tech r/CryptoMarkets r/CryptoRecruiting r/Best_of_Crypto r/BitcoinMarkets r/BitcoinMining r/CryptoTrade r/Ethfinance r/EthTrader r/Jobs4Crypto r/Liberland r/NFT r/OpenBazaar r/GPUmining Mastering Ethereum (Open Source book) Exchanges IBM's ZeroToBlockchain (Free learning resources) See our Expanded Rules page for more detailsĬoinMarketCap (Cryptocurrency market cap info)ġ0k.pizza (Portfolio tracking.See our Expanded Rules page for more details about this rule.This includes "PM for referral", asking for referral codes or links, and linking to sites used solely for referral links. Rule #2.10 - Posting referral, promo links, or codes of any kind is strictly prohibited and will be met with a long-term or permanent ban.See our Expanded Rules wiki page for more details about this rule.
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Coinbase transaction fees too high plus#
Plus it’s a breeze to transfer the funds you have in Coinbase to GDAX.Be nice to each other! r/CryptoCurrency is a welcoming place for all people and all cryptocurrencies.
Coinbase transaction fees too high how to#
But once you’ve gotten a hang of the basics learning how to use this more sophisticated exchange will give you a better understanding of how this sector operators. GDAX might seem intimidating if you’re just getting into cryptocurrencies. Some fees still apply (.25% or less) but they’re nowhere near as bad as using their conversion service. This means you have to convert your fiat currency into bitcoin instead of having Coinbase do it for you. You can’t use your credit or debit card to make purchases on GDAX, only bank transfers or cryptocurrencies. Of course, isn’t as immediately user-friendly as Coinbase. This interface lets users trade bitcoin, Ether, Litecoin, and even fiat currencies amongst themselves. It’s going to be a little bit more complicated on the user’s side, but only a little bit.Ĭoinbase also owns a full-fledged cryptocurrency exchange, named Global Digital Asset Exchange (GDAX). If you’re not a fan of these fees, Coinbase has a way that you can keep trading cryptocurrencies without them. Which is understandable, like any company they’re providing a service which they then charge consumers for. So Coinbase is making their money by finding people that want to buy the bitcoins you’re selling and charging your for it. Usually making a purchase with your credit or debit card will lead to a 4 percent fee, which can be pretty substantial if you’re dealing with thousands of dollars. Prices vary by country and by the method you choose to pay.
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