Avoiding Coinbase Fee

Discussion in 'Bitcoin and Cryptocurrency' started by SSBMajinVegeta95, Dec 27, 2017.

  1. not sure if this is old news or not but I haven’t seen too many talking about this method so here it is. First buy the BTC on Coinbase and next What you do is Sign Up on GDAX which is the same company as Coinbase. After ID verification your Coinbase will be linked to your GDAX account and you can instantly transfer BTC from Coinbase to GDAX for free. Now that the BTC is in your GDAX. You then move the BTC from GDAX to whatever wallet you do you “Other” shopping with and voila , no more $30 Coinbase fees.
  2. SuperMaroid

    SuperMaroid Member AnabolicLab.com Supporter

    Couldnt you just buy on GDax to begin with instead of buying from Coinbase and switching to GDax?
    DrinkFlintWater likes this.
  3. Brucie

    Brucie Member

    Maybe I'm wrong but I think you're confusing coinbases fee with mining fee's? Coinbase charges an exchange fee for exchanging USD to BTC.

    The fees associated with sending coin from one wallet to another are miners fees paid directly to the mining pools who validate and process the transactions. The cost of those fees are based on network load and mining difficulty.

    Perhaps fee's were temporarily low due to lower network traffic? Or maybe I'm just missing your point.
  4. I’ve had Coinbase increase this fee compared to sending the same amount from my electrum wallet.
  5. I mean these last few times i sent bitcoin to another wallet I got charged an additional $34 , I send $5. I get charged $39. That’s money I could use for something else
    SuperMaroid likes this.
  6. Evom1

    Evom1 Member

    I don't bother with btc anymore. Too high of fees
    SuperMaroid likes this.
  7. Yeah this guy explained it better.
    SuperMaroid likes this.
  8. SuperMaroid

    SuperMaroid Member AnabolicLab.com Supporter

    I dont blame you. 1 week to turn the money into bitcoins. $20+ to send it to your wallet and $20+ to send it to the source. And with the shipping and handling fee to get your gear its like your paying $50+

    I had to pay $39 on my most recent order to send from my wallet which is ridiculous.

    But I do feel its more convenient and safer than WU or MG, and most sites I use only accept bitcoin.

    HIGHRISK Member

    Did fees skyrocket in the last month? I sent about $800 just over a month ago and it cost me like $7.00 from coinbase to blockchain. Then about. .40 cent from blockchain to receiver.
    SSBMajinVegeta95 and SuperMaroid like this.
  10. SuperMaroid

    SuperMaroid Member AnabolicLab.com Supporter

    Yes they did. Go on your blockchain wallet and click send on the left and click regular and priority to see the prices.

    Right now $33 regular and $49 priority.
  11. The fees could get you another vial or oral tbh. If I wasn’t lazy I’d WU or MG
    SuperMaroid likes this.
  12. SuperMaroid

    SuperMaroid Member AnabolicLab.com Supporter

    I just wait until bitcoin drops and then throw some money in there and order when its high.
    SSBMajinVegeta95 likes this.
  13. Jeffg353

    Jeffg353 Member

    Get this shit...cost me $16.15 to send $10, yes u read that correctly ten bucks.
    SuperMaroid likes this.

    HIGHRISK Member

    Damn it man. That's fucking crazy!
    SuperMaroid likes this.

    HIGHRISK Member

    WTF? No wonder I've been seeing bitching about fees. I hadn't used BTC in over a month.
    SuperMaroid likes this.
  16. SuperMaroid

    SuperMaroid Member AnabolicLab.com Supporter

    And If you dont pay priority fee it takes up to 3 days for it to be confirmed. Very annoying.
    HIGHRISK likes this.
  17. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    Exactly- buy as a limit order to avoid the higher fees. Then proceed as the guy in the video explains above.
    SuperMaroid likes this.