Coinbase exchange ranks 2nd after Binance and is one of the most popular crypto marketplaces among investors due to its simplicity and accessibility. Users can buy crypto via bank accounts, credit/debit cards, wire transfers, PayPal, of course with different fees for each of these payment modes. . Credit/debit card will be charged 3.99%, if via wire transfer will be charged $10. but will not be charged if the transfer of fiat money using ACH (Automated Clearing House). Withdrawing money to a bank account in America will incur a fee of
1.49% (min $15), withdrawals via wire transfer will cost you $25, while withdrawals via SEPA will cost you 15 Euros. Whereas withdrawing crypto to another wallet address will incur network fees. Another factor that can affect transaction fees on Coinbase is the fees calculated at the time of the transaction/order, including order size, location, market conditions such as liquidity and volatility. After introducing transaction fees on Coinbase, here are some ways to reduce transaction fees on Coinbase that you can practice:
1. Deposit with bank deposit is free of charge, then you can then transfer funds to your Coinbase Pro account (this is very much needed by active traders)
2. Using the Given-Taker Approach
Availability of the Given-Taker approach feature on Coinbase Pro. Taker orders will be created at market price, while Maker orders are recorded on the books until a suitable counter order can be found. So the bigger the transaction the lower the fee is only 0.05% and the Creator fee is Zero percent when trading above $50M.
3. Avoid Busy Networks
In order to minimize withdrawal fees or network fees, it will depend a lot on the busyness of the crypto network, Look for the best time-adjusted time in your country, to avoid network hours or times, crowded.
1.49% (min $15), withdrawals via wire transfer will cost you $25, while withdrawals via SEPA will cost you 15 Euros. Whereas withdrawing crypto to another wallet address will incur network fees. Another factor that can affect transaction fees on Coinbase is the fees calculated at the time of the transaction/order, including order size, location, market conditions such as liquidity and volatility. After introducing transaction fees on Coinbase, here are some ways to reduce transaction fees on Coinbase that you can practice:
1. Deposit with bank deposit is free of charge, then you can then transfer funds to your Coinbase Pro account (this is very much needed by active traders)
2. Using the Given-Taker Approach
Availability of the Given-Taker approach feature on Coinbase Pro. Taker orders will be created at market price, while Maker orders are recorded on the books until a suitable counter order can be found. So the bigger the transaction the lower the fee is only 0.05% and the Creator fee is Zero percent when trading above $50M.
3. Avoid Busy Networks
In order to minimize withdrawal fees or network fees, it will depend a lot on the busyness of the crypto network, Look for the best time-adjusted time in your country, to avoid network hours or times, crowded.
