Coinbase is one of the most popular cryptocurrency exchanges in the world. It offers a variety of features, including the ability to buy, sell, and trade cryptocurrencies. However, Coinbase also charges fees for its services.
In this article, we will take a look at how much Coinbase charges per transaction. We will also discuss the different types of fees that Coinbase charges and how you can minimize your costs.
Coinbase Fees
Coinbase charges a variety of fees for its services. These fees can be broken down into three categories:
- Trading fees:Â Coinbase charges a fee for each cryptocurrency trade that you make. The fee is based on the size of your trade and the current market conditions.
- Deposit fees:Â Coinbase charges a fee for each deposit that you make into your account. The fee is based on the payment method that you use.
- Withdrawal fees:Â Coinbase charges a fee for each withdrawal that you make from your account. The fee is based on the cryptocurrency that you are withdrawing and the current network fees.
Trading Fees
Coinbase’s trading fees are based on a maker-taker model. This means that the fee that you pay is different depending on whether you are adding liquidity to the market (maker) or taking liquidity from the market (taker).
- Maker fees:Â Maker fees are lower than taker fees. Maker fees are 0.00% to 0.50%, depending on your trading volume.
- Taker fees:Â Taker fees are higher than maker fees. Taker fees are 0.05% to 0.60%, depending on your trading volume.
Deposit Fees
Coinbase charges a fee for each deposit that you make into your account. The fee is based on the payment method that you use.
- Bank account deposits:Â There is no fee for depositing funds into your Coinbase account using a bank account.
- Credit card deposits:Â There is a 3.99% fee for depositing funds into your Coinbase account using a credit card.
- Debit card deposits:Â There is a 3.49% fee for depositing funds into your Coinbase account using a debit card.
Withdrawal Fees
Coinbase charges a fee for each withdrawal that you make from your account. The fee is based on the cryptocurrency that you are withdrawing and the current network fees.
- Bitcoin withdrawals:Â There is a 0.0005 BTC fee for withdrawing Bitcoin from your Coinbase account.
- Ethereum withdrawals:Â There is a 0.0008 ETH fee for withdrawing Ethereum from your Coinbase account.
- Litecoin withdrawals:Â There is a 0.0003 LTC fee for withdrawing Litecoin from your Coinbase account.
- Bitcoin Cash withdrawals:Â There is a 0.0005 BCH fee for withdrawing Bitcoin Cash from your Coinbase account.
- USD Coin withdrawals:Â There is a 0.01 USDC fee for withdrawing USD Coin from your Coinbase account.
How to Minimize Your Coinbase Fees
There are a few things that you can do to minimize your Coinbase fees.
- Use a maker order:Â If you are placing a trade, you can minimize your fees by using a maker order. A maker order is an order that adds liquidity to the market.
- Trade on Coinbase Pro:Â Coinbase Pro is Coinbase’s professional trading platform. It offers lower trading fees than the regular Coinbase platform.
- Use a limit order:Â A limit order is an order that specifies the price at which you are willing to buy or sell a cryptocurrency. Limit orders can help you to avoid paying high fees due to market volatility.
- Wait for the right time to trade:Â If you are not in a hurry to buy or sell a cryptocurrency, you can wait for the right time to trade. This will help you to avoid paying high fees due to high demand.
Conclusion
Coinbase charges a variety of fees for its services. However, there are a few things that you can do to minimize your fees. By following the tips above, you can save money on your cryptocurrency trades.
