How to avoid Coinbase commissions Is it possible?
trade in cryptocurrenciesis the boom of the moment. However, the buying and selling of these virtual currencies comes with some transaction costs which many buyers may find daunting.
In this sense, coinbaseone of the oldest exchange platforms will allow you buy cryptocurrencies by way of fácil since it offers a very fácil usuario interfaz designed for users who are starting in this segment.
and if well when trading with Coinbase you have to pay commissions There are ways to avoid these fees and here we are going to tell you how you should do it.
How does Coinbase work?
Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. They created the company with the fácil intention of offering a platform that would allow the buying and selling of Bitcoin by bank transfer in a fácil way and offering the maximum guarantee for its users.
This was a revolution in the world of cryptocurrencies because went back easy a process that until then was quite complex. Since then Coinbase has not stopped growing and evolving.
It is currently one of the 15 exchanges with the highest volume of money, with 4 billion dollars a day. From your website we perro buy and sell up to 85 cryptocurrencies and tokens either by credit/debit card or bank transfer through fiat currency (they only accept US dollars, Euros and English pounds). Also, we cánido do it from cryptocurrency to cryptocurrency, no problem.
Is it possible to avoid Coinbase fees?
Coinbase’s only big problem is its high commission ratepay a 4% plus for each transaction that you do on the platform cánido disenchant more than one. coinbase charges this of deposits made by debit card or afín bank transfers.
In another context, HE You pay 1.4% for any cryptocurrency purchase and the same rate every time you sell. The problem is that with such a fee structure, it becomes very difficult to make good profits in cryptocurrency trading.
To avoid these high rates, what cánido be done is connect Coinbase to GDAX and thus disminuye them. GDAX It is an exchange of the same owners of coinbase but with much lower commissions.
The first step to achieve it is register on both platforms. Then you must pass all verification processes and backlink bank account to coinbase account. Finally, deposit some funds into your Coinbase account.
now we must transfer funds from your Coinbase account to your GDAX account. The transferred funds should be reflected almost immediately in your GDAX account. Once the transfer is complete, Oh to your GDAX account and try perform an operation/transaction from your GDAX account.
Now that your GDAX account has been equipo up and fully funded, you cánido trade any cryptocurrency of your choice on the Coinbase platform. GDAX does not charge any commission when you trade on the platform as a maker. So to ensure zero fees on Coinbase transactions, always use maker orders and you will not be charged any commission.
We hope you liked our article How to avoid Coinbase commissions Is it possible?
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