Coinbase fees?

Discussion in 'Bitcoin and Cryptocurrency' started by Ryno1980, Dec 19, 2017.

  1. Ryno1980

    Ryno1980 Member

    I haven used coinbase in a few months, but it seems other than costing me to purchase coin, the fee for sending coin used to be fairly minimal... 4 or 5 bucks to send a few hundred worth of coin... today I had to send 50 and it cost me 23 dollars to send 50.. not fee for buying, fee for sending? Anyone else notice the change?
    I had 78.00 sent 50 and had 3.40 left in my account.. wtf?
  2. MythotiK

    MythotiK Member Supporter

    Yup the fee for sending has skyrocketed
  3. Nate42

    Nate42 Member

    I'm trying to send $190 worth of coin to a source from block chain and have $205 worth in my account but it's telling me I only have $140 to send. I'm fucking pissed. The fuck is that about?
  4. Coinbase owns gdax. You can use your same password and logging id on gdax. Once on gdax simply transfer your funds from coinbase to gdax (FREE)

    Once your funds are on gdax you can send anywhere with SUPER LOW FEES

    You are welcome

    Btw Bitcoin will be $100,000 in 5 months. Some free fork coins coming in too. The next fork is Christmas Day(a gift from some Chinese guy)
    Last edited: Dec 20, 2017
    sinewave3 likes this.
  5. Millard Baker

    Millard Baker Member

    There's a difference between exchange fees and network fees. The network fees are not controlled by Coinbase, GDAX, Gemini, Kraken or any other exchange. And it's the exorbitant network fees that are the main problem now.
  6. The high fees started on December 12. December 11 was around $5 to make a transaction.

    They working on a fix called "lighting network".
  7. rpbb

    rpbb Member Supporter

    that's good, because of the fees, right now bitcoin is useless.
  8. Ryno1980

    Ryno1980 Member

    So what I still don't understand after reading all of this is the sending fee.
    If it cost me that much money to send a small ammount, how much is it going to cost me.if i need to send say 600
  9. DrinkFlintWater

    DrinkFlintWater Member Supporter

    Lol...probably an organ at this point. Got a kidney you dont need? ;)
    But all i can think of is go on coinbase and act like youre about to send 600 and before the confirmation to send, it should tell you how much.
  10. Should be around $25 plus the site wallet fees

    Or you can exchange to another coin and use it as payment to avoid Bitcoin network fees. That way you only pay the wallet transfer fees
  11. MythotiK

    MythotiK Member Supporter

    Pretty dumb you cannot buy Litecoin with your Bitcoin/Cash in Coinbase!!
  12. rpbb

    rpbb Member Supporter

    The thing that really bothers me is the IRS ruled this week that switching between coins is a taxable event. Not to mention that I believe coinbase will start reporting all transactions to the feds
  13. Morefyah

    Morefyah Member

    There raping everyone! WTF..
    I just sent $585 and they charged $35 in fees!
  14. Burrr

    Burrr Member Supporter

    I was just going to consolidate some coins and they wanted $30 to send $100 from coinbase to exodus

    $100 was not even enough to do a free transfer from coinbase to gdax,

    Time for our sources to use LTC or something instead.
    Who is cashing in on the network fees? is it the miners?
  15. DrinkFlintWater

    DrinkFlintWater Member Supporter

    All i know is i transferred alot of ETH off coinbase today for very small fee. Where my bitcoin is at; its staying put. No plans to purchase BTC right now either, its very simple for any of us (customer/source) to use ALTs to exchange.
  16. Ryno1980

    Ryno1980 Member

    They have been since 2016... but buying coin and sending it to someone isn't a taxable event on my part so I generally don't leave any extra coin in my account...
  17. Burrr

    Burrr Member Supporter

    Will they send the same info to the account owner?

    going through the transactions to calculate gains or losses is gonna be tricky