Coinbase, one of the most popular ways of buying cryptocurrencies such as bitcoin, ethereum, litecoin, and potentially more — charges mostly a percentage fee.
According to their site:
(a) Minimum fee — a flat fee that applies to conversion transactions under $200, and which is disclosed before you execute the transaction.
(b) Percentage fee — varies by region and payment type, as follows:
Base rate of 4% for all transactions**
So is there a way to avoid these fees?
The good new is yes, we can avoid these fees.
We do so by transferring our coins into the GDAX platform at www.gdax.com
In the above video, we connect our coinbase account into GDAX so we can transfer our existing coins from coinbase into GDAX.
From there, we avoid market orders and instead use limit buy orders and limit sell orders.
This does not guarantee immediate execution, but if you place your orders close enough to where the market is trading, there’s a good chance it will get filled — without an exorbitant 1.5% or 3.5% fee.