Coinbase is without doubt the largest and most trusted digital asset exchange around the world. They recently completed a public listing on the United States Stock Exchange, making them the most regulated and safest cryptocurrency exchange.
Their platform offers many different products withy varying fees which include an instant buy exchange, a more advanced exchange called Coinbase Pro and a crypto lending platform that enables users to earn interest on their assets.
Coinbase's fees for a buy and sell is 1% per trade, but can be as high as 4% when purchasing crypto with a Debit Card or Credit Card. So it is important to know what way to trade with Coinbase so you can save as much money as possible on fees.
Coinbase also offers an advanced trading platform called Coinbase Pro. It is an order book style exchange that allows users to trade over 50 different crypto pairs against US Dollars.
The fees on Coinbase Pro are significantly cheaper than the retail Coinbase App and start at 0.5% per trade.
The table below provides a quick high level summary of the key costs associated with trading on the Coinbase exchange. This is compared against their advanced trading platform Coinbase Pro to help you decide which exchange is best for you.
The table below provides another overview of Binance Fees vs Coinbase for traders in the United States and abroad. This comparison highlights that Binance would be a preferable venue for traders that regularly buy and sell crypto assets, whereas Coinbase would be better for people who buy and hold.
Despite many users thinking Coinbase is expensive, it is actually a very cheap exchange if you know how to use it properly. As mentioned earlier, Coinbase's fees per transaction when you deposit funds via a Bank Transfer are a mere 0.5% per trade.
To avoid fees on Coinbase, it is recommended that you do not buy with a Credit Card or Debit Card, but via a Bank Transfer. Banks like Wells Fargo and Chase Bank enable clients to deposit US Dollars to Coinbase for low fee trading.
Learn more about the Bitcoin and cryptocurrency ecosystem with one
of our expert guides.
The latest Bitcoin and cryptocurrency news from around the world.