Avoiding Coinbase Fee

[MajinMuscle777]

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.

 

[SuperMaroid]

Couldnt you just buy on GDax to begin with instead of buying from Coinbase and switching to GDax?

 

[Brucie]

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.

 

[XmadXscientist]

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.

I’ve had Coinbase increase this fee compared to sending the same amount from my electrum wallet.

 

[Jeffg353]

 

[MajinMuscle777]

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.

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

 

[Evom1]

I don't bother with btc anymore. Too high of fees

 

[MajinMuscle777]

Yeah this guy explained it better.

 

[SuperMaroid]

I don't bother with btc anymore. Too high of fees

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]

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.

 

[SuperMaroid]

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.

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.

 

[MajinMuscle777]

The fees could get you another vial or oral tbh. If I wasn’t lazy I’d WU or MG

 

[SuperMaroid]

The fees could get you another vial or oral tbh. If I wasn’t lazy I’d WU or MG

I just wait until bitcoin drops and then throw some money in there and order when its high.

 

[Jeffg353]

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

 

[HIGHRISK]

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.

Damn it man. That's fucking crazy!

 

[HIGHRISK]

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

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

 

[SuperMaroid]

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

And If you dont pay priority fee it takes up to 3 days for it to be confirmed. Very annoying.

 

[DrinkFlintWater]

Couldnt you just buy on GDax to begin with instead of buying from Coinbase and switching to GDax?

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