Coinbase is one of the most popular cryptocurrency exchanges in the world. It offers a user-friendly platform for buying, selling, and storing digital assets like Bitcoin, Ethereum, Litecoin, and more. While many people appreciate the convenience and security that Coinbase provides, one thing that they often wonder about is how much percentage does Coinbase take off their transactions.
In this article, we will provide an in-depth look at Coinbase’s fees and help you understand exactly how much you can expect to pay when you use this platform.
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Coinbase Fees for Buying Cryptocurrencies
When you buy cryptocurrencies on Coinbase, you will be charged a fee based on the total purchase amount. The fee structure is as follows:
- For purchases up to $10, Coinbase charges a flat fee of $0.99.
- For purchases between $10 and $25, Coinbase charges a fee of $1.49.
- For purchases between $25 and $50, Coinbase charges a fee of $1.99.
- For purchases between $50 and $200, Coinbase charges a fee of 2.99% of the total transaction value.
- For purchases over $200, Coinbase charges a fee of 1.49% of the total transaction value.
It’s worth noting that these fees apply to both debit and credit card purchases. Additionally, if you purchase cryptocurrencies using USD Coin (USDC), you may be able to avoid some of these fees altogether.
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Coinbase Fees for Selling Cryptocurrencies
When you sell cryptocurrencies on Coinbase, you will also be charged a fee based on the total sale amount. The fee structure for selling cryptocurrencies is as follows:
- For sales up to $10, Coinbase charges a flat fee of $0.99.
- For sales between $10 and $25, Coinbase charges a fee of $1.49.
- For sales between $25 and $50, Coinbase charges a fee of $1.99.
- For sales between $50 and $200, Coinbase charges a fee of 2.99% of the total transaction value.
- For sales over $200, Coinbase charges a fee of 1.49% of the total transaction value.
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Coinbase Fees for Transferring Cryptocurrencies
If you want to transfer your cryptocurrencies out of Coinbase to another wallet or exchange, you will be charged a network fee. This fee is not charged by Coinbase directly, but rather by the blockchain network that processes the transaction.
The amount of the network fee varies depending on several factors, such as the current congestion on the network and the size of your transaction. Generally speaking, network fees for Bitcoin transactions are higher than those for Ethereum transactions.
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Coinbase Pro Fees
Coinbase Pro is a more advanced trading platform offered by Coinbase that is designed for professional traders. If you use Coinbase Pro, you will enjoy lower fees compared to the standard Coinbase platform. The fee structure for Coinbase Pro is as follows:
- Maker fees (for placing limit orders) range from 0% to 0.50%, depending on your monthly trading volume.
- Taker fees (for placing market orders) range from 0.04% to 0.50%, depending on your monthly trading volume.
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Conclusion
Overall, Coinbase’s fees are in line with what you can expect from other cryptocurrency exchanges. While the fees for smaller transactions can be relatively high, the fees for larger transactions are more reasonable.
If you are a frequent trader or investor, it may be worth considering using Coinbase Pro to take advantage of the lower fees. However, if you are a casual user who only makes small purchases from time to time, the standard Coinbase platform may be a better choice for you.
In any case, it’s important to keep in mind that the cryptocurrency market is highly volatile, and prices can change rapidly. Before making any transactions, it’s always a good idea to carefully consider your investment goals and risk tolerance.
