Since I got started in Bitcoin in early 2014 I have had an account over at Coinbase. They are a US based company and they have been established as one of the most trusted sites out there. While there certainly is a love hate relationship some people have with them, their platform is solid and great for beginners in cryptocurrency. I will show you a quick trick to save on the fees from Coinbase, but still take advantage of the platform.
But The FEES!
While I am a fan of Coinbase as a great place to start off when first getting into crypto, I am not a fan of the very large fees they charge for most of the services on their site. We are talking 4% fees on many transactions… No matter if you love Coinbase or you hate Coinbase, no one likes high fees. While scouring the internet I found an easy peasy trick that will save you a TON of the fees. Enter in Coinbase Pro.
Coinbase Pro To the Rescue
(UPDATE: Coinbase Pro has recently increased their trading fees so much that I can no longer recommend them! The new fees are now 0.5% and some of the highest in the entire crypto industry. This is disappointing to myself and to all that I have recommended Coinbase in the past. I would now recommend Binance America as one of the better places to trade with the lowest fees in the US. )
Coinbase Pro is Coinbase's very own exchange. You can only trade BTC, ETH, & LTC for now on GDAX, but there is an instant connection between your Coinbase account and a connected GDAX account. I am going to walk you through the process of turning USD into Bitcoin for super low fees compared to the normal Coinbase fees you would incur.
Buying Bitcoin On Coinbase With No Fees
The first thing you want to do is open your Coinbase account and then go to the Accounts page. Find your “USD Wallet” and click on Deposit. You can fund your USD wallet from your bank account, or a wire transfer and this is free. Different options take a different amount of time, I was not in a hurry so I used my bank account.
Now that your USD Wallet is funded it is time to head over to Coinbase Pro and sign up for your account. Opening an account should be easy if you were signed into Coinbase still. Now that you have registered you can see that you also have a USD Wallet on Coinbase Pro as well.
Hitting Deposit will bring up the Deposit screen and you can see among your options that you also have an option to withdraw from Coinbase! I forgot to take a screenshot when I actually did it, but here is what the screen looks like.
Here you would choose the amount of funds you want to move from Coinbase to the Coinbase Pro exchange. I moved $200 this time and you can see that the transfer is instant and FREE! My USD is now instantly transferred to Coinbase and I was not charged any fees thus far.
Now that I have transferred my USD to Coinbase Pro I am ready to buy Bitcoin, Ethereum, or Litecoin directly from Coinbase Pro with a fee of only 0.25% (even less if you use a “limit order” to be a “Maker” which is only a 0.15% fee)! Here is a list of Coinbase Pro fees and they are pretty standard exchange fees as far as maker/taker fees go. Once I convert my USD to crypto I can then transfer it away from Coinbase Pro at a much lower rate as well versus Coinbase. I will say that Coinbase Pro's trading pairs seem to always be on the higher side of the price so be watchful on that.
Victory Is Mine!
So there you have it folks! The ‘Stache has saved you on those hefty Coinbase fees and you can still use Coinbase as a jump off point for converting USD to Bitcoin for a low price.
If you are looking for more great cryptocurrency resources, check out my dedicated Crypto Resources page where I list out all the tools & websites that I use daily. I couldn't live without most of these resources and I keep it updated regularly so you have the BEST tools to help you achieve financial freedom!
Viva El ‘Stache!
but what about getting around the “network fees” of sending bitcoin out of coinbase? if i use gdax wallet to sent out – will it be capped at .25%? Today i wanted to send $12 in bitcoins out and the network fees were $13!!
No, if you send the coins off of GDAX you will always have to pay a transfer fee to the miners that process that transaction.
But why is network fees so high? 13 € or $ really. I remember few days ago when I did similar transaction I paid around 3-4 euros. How n why transaction fees is fluctuating so high
This is because right now cryptocurrency is EXPLODING! Coinbase is seeing unprecedented growth that they just don’t have the capacity for. Same for most of the other major outlets. This drives the fees much higher.
I tried to add funds to USD wallet using credit card, but it doesn’t give me that option. It only has bank deposit and wire transfer. Am I missing something?
Hi John, no you are not missing anything. You can’t use a credit card to deposit into your USD Wallet, you can only use a CC to make direct purchases which is why I always recommend being patient and doing the bank deposit. There will ALWAYS be another buying or selling opportunity.
Why not bank deposit instead of bank wire? I hooked my checking account up to Coinbase but haven’t made a move yet..! Also, could you please explain what “trading pairs” are? Thanks! “
Yes a Bank Deposit is the way to go. A wire is more work!
Good suggestion about trading pairs, I will write up an article specifically about that.
I am having the same issue. Trying to transfer a small amt out of coinbase to binance and the smallest fee is $14.
Thats crazy. What do you recommend? I need more funds in my binance acct.
Should I wait? Another fund?
Thanks
Personally, I might just try to wait it out as the mempool is just very backed up at the moment.
Hey i am dealign with the same issue as the person above. Would the fees be cheaper transferring ETH rather than BTC?
YES! I actually think Litecoin would be the cheapest transaction fees.
I am heated. I have deposited money from my bank account to CB USD Wallet on 12/03/17 and the funds have yet to show up in the USD Wallet, still says pending. I should have used Gemini. My question is, do they charge a fee to transfer my money right back into my bank account? Once the payment clears, if I want to pull it all out and switch to Gemini are they going to take a fee? I am livid with the service CB has provided – well lack of service.
Hi Adam, it is not so much that Coinbase has bad service it is that all trading and exchange outlets are being hit VERY hard with customers on an unprecedented level. Coinbase has and will continue to be one of the most solid platforms to use, but they are rushing to upgrade everything so these things just take time. Typically a bank deposit takes 5 – 7 “business days” and this is because of the bank and not Coinbase.
I would probably just buy the crypto I wanted to on Coinbase once your USD arrives and then move it to GDAX and then off to where you want to trade like Gemini. Gemini is not any more ready for a huge influx of customers than Coinbase and all the US fiat converters are having issues at the moment. Patience is key!
So I have a question. On December 10th my order was complete on CB for buying LTC for $158 with a charge of $1 so charged my mastercard total of $159. So then today I looked at my bank account and it said CB charged $20. What is this charge of $20 for? Maybe you explained and thank you for this article btw. Maybe I’m reading something wrong about how they charge but can you help explain? Will I be charged again? I hope not.
That IS odd. The max fee that Coinbase charges is 4.99% and $20 is not 4.99% of your $159 purchase. They are having major issues right now with their platform, it should be resolved soon, but you still might want to send them a support email.
A lot of banks charge a (too) large fee for processing foreign credit card transactions. Coinbase uses a processor based in England. My bank charges me $8 extra for every buy I place on coinbase. What really is robbery is that they MANDATE you pay a huge transaction fee just to get your money out of their wallet. Not 5 min ago I placed an order for $260 (w/ my credit card since they STILL haven’t instituted their Instant Buy from bank accounts and ain’t no one can afford to wait over a week to get their BTC). I had to fork over a $9.98 fee to coinbase, pay my bank an extra $8.00 for coinbase’s foreign credit card processor, and now to send it to my real wallet (where it’s safe) they want me to pay $14.38 in network fees. So I have to shell out $283 to get $250 worth of bitcoin in my private wallet. Just for giggles, sending BTC from my private wallet I usually pay about $2.50 in miner fees and have it confirmed withing 3 hours. The fact that Coinbase MANDATES you pay an outrageous network fee is the part that reeks of price gouging. At least it looks like Gemini.com gives you 30 free transfers per month and doesn’t charge you to fund your account thru ACH. So basically you pay a .25% fee to get BTC and get it out to a private wallet. Sure beats the hell out of Coinbase’s net 12% abuse. Understand that NONE of this is because of a surge in demand. Only site outages and slow clearing transactions are.
From your comment it sounds like you did the exact OPPOSITE of what my article suggest to do to save on all these fees!!
Patience is a virtue! Unfortunately with crypto right now, if you want it right away there are going to be high fees. Even in the scenario you have here you could have easily moved your crypto to GDAX for free and then sent it to your wallet from there saving on the fees that Coinbase charges to send out of their wallet directly…
I might as well join this conversation… I am a beginner if there’s not a lower rank ha! But I have been following ripple for quite a while trying to get my head around it … meaning : opening several accounts CB, Bitstamp (which is taking ages to verify my ID’s and all) plus 500, Binance and so on haha
As everyone else I have encounter that the amount of fees is insane, especially if you want to invest in Ripple, only the fees makes the coin a lot more expensive to buy.
I saw your article and thought it was quite interesting …
My question is: Can I buy ETH on Coinbase move it (as you said you did with your USD) to GDAX then move it to Binance in order to buy XRP paying less fees than the original way?
Basically I want to be able to buy in binance but I need cryptocurrency and thats my friend something I DONT HAVE!!! YET 🙂
In short, yes. NEVER send coins to another wallet or exchange from the Coinbase interface. Always move your BTC, ETH, LTC, or USD to GDAX first, then off to where you want it. You should really never buy crypto directly from Coinbase, just deposit USD to Coinbase and then move it to GDAX for purchases.
oh well thats refreshing!!
Thanks a million 🙂
Ok so, CoinBase, Gdax, Gemini, are all exchanges right? So let’s say I wanted to buy $100 worth of BTC on Gdax (small fee) how would I get it to my Exodus Wallet?
From my understanding it goes CoinBase/Gdax (buy BTC) and send to your wallet, is that right?
But the thing is, CB/Gdax does not play nice with other wallets due to networking fees, so how do you get your BTC out? Is sending your BTC from Gdax to Wallet cheaper than sending it from CB?
GDAX & Gemini are exchanges, Coinbase is really just a fiat conversion platform. You can buy on Coinbase, but you can’t sell. Yes sending your BTC from GDAX is cheaper than sending it from CB. That is what this entire article is about and is a full walkthrough of how to accomplish that!
Ive tried for 5 days to get my identification verified on GDAX and no luck. I’ve sent emails and nothing, so I’m stuck can’t save any fees, even though I have my coinbase account.
Patience!!! I know everyone wants to learn this stuff and jump in immediately, but the fact of the matter is there is unprecedented network traffic at this time and none of the major outlets are handling it well. You will get verified, but it may take longer than expected.
Hello Freddy Trillo,
I also had an issue trying to get my ID verified on GDAX and I sent a support ticket on 12/13/17 and they responded on 12/16/17 and instructed me to verify my ID on the Coinbase iOS/Android App and I was verified in 30 minutes.
I hope this helps.
Mezedi
Say i had 300k of coins on gdax. If i sell them is the fee going to be .25 of the total sale?
It depends on a few conditions, (mainly if you are a maker or taker). Here is full fee info: https://www.gdax.com/fees
Hi, I have a question. If I buy Bitcoin Cash from Gdex and I want to wait few days until their value increase to sell them. Can I keep these coins on Gdex or I should transfer them to a wallet? I’m new to Gdex, do you know which wallet is the best to use?
Thanks.
If you just plan to sell right away then you can keep them on GDAX no problem. It is the long term storage that can be an issue. Here is my article on wallets that I like! https://www.cryptostache.com/2017/08/24/wallets-101-what-is-a-wallet-best-wallet-2017/
I just sent about $150 in bitcoin and it charged me a $35 fee in bitcoin from my acccount without warning. Wtf???
Hi Charlie, there is always going to be fee if you send Bitcoin directly from Coinbase. They DO show you what the fee is before you confirm your send so you probably just missed it on the transaction screen. I would always suggest sending your funds to GDAX first then sending them to where ever you want from there.
Let me first say, I am very new to this. So forgive me if I sound dumb asking this but I’m trying to learn. I bought $100 worth of Bitcoin on Coinbase back in September and its now up to $400 so I decided I wanted to buy XRP on Binance earlier today because Coinbase may support XRP in the future. I somehow figured out how to jump through all the hoops to be able to send Bitcoin to my Binance account. However, I decided to test it out by only sending $10 of my Bitcoin from Coinbase to Binance because I wanted to make sure I was doing it right and wasn’t about to lose a lot of money.
BIG MISTAKE!!! Once I sent it I realized my Bitcoin had been charged $45! $10 for the amount and I’m guessing a $35 fee. Is that a normal fee even for such a small transaction? I wish I would have read this sooner. I want to transfer more to Binance to buy more XRP but I don’t want to be charged a crazy amount again. So, I just want to make sure I have this straight, like I said I’m new and not extremely tech savvy.
So I would need to transfer my Bitcoin from Coinbase to GDAX and that will transfer for free? Then I can transfer that Bitcoin to Binance for a much lower fee? From there I can buy more XRP on Binance once the transaction has gone through. I hope all my questions made sense. I appreciate any help anyone can give me. My friends want to transfer funds too but I guess I’m the Guinea pig!!! Thanks for the help! Great article!
Hi Bobby, yes you have it exactly right. NEVER send coins directly from your Coinbase account as you will get charged extra fees. Bitcoin transaction fees are the HIGHEST they have ever been right now because of SO MANY people trying to jump on the bandwagon in the last month. I would also suggest to maybe convert your Bitcoin to Litecoin first before sending to Binance as it transfers much faster and is much cheaper transaction fees.
Shea,
According to Coinbase, they only charge you a fee when you purchase from them. However, when you try to send Bitcoin, for example, to an exchange like Binance in order to purchase Ripple, you see a hefty charge (around .25% or .3%). Coinbase says that this is a “mining” fee that the exchange (i.e. Binance) charges, not Coinbase. Is that correct?
Is there a way to find an exchange that doesn’t charge so much?
Hi Bob, the mining fee does not have to do with an exchange at all. Miners are a separate part of the network and they do take a fee for any transaction. I would suggest sending your coins to GDAX first, and then sending to your exchange of choice. Also, right now the miner fees are VERY high so sending small amounts of Bitcoin is not recommended. You can always convert to something like Litecoin or Ether first before sending as its cheaper and faster.
You can’t fund your USD wallet on Coinbase with a credit card, you need to verify your bank account which makes going through Coinbase to do all this pointless. Unless I’m missing something, you might want to edit this article. Thanks for being so nice to all the new people round here…
Thanks Franks! updated!
Hello, this is a great article, and thanks for taking the time to write it.
If you buy BTC. LTC, ETH or BTC on GDAX, is it stored in “wallets” and/or “vaults” on the GDAX website? Or do the purchases appear in your CoinBase wallets?
Can you move the currency from GDAX to Coinbase? And if so, are you charged fees?
If the currency that you do buy stays on the GDAX site, is it as secure there as inside CoinBase’s “vaults?”
Sincerely,
C-
Hi Chris, yes you are right on all questions.
1. yes if you buy on GDAX it stays there in a wallet.
2. you can move funds from coinbase to GDAX for no fee and vice versa.
3. probably not, but they are a pretty secure site.
Why not deposit USD directly onto GDAX, and buy ETH LTC or BTC there?
And why is it cheaper to transfer in ETH and LTC?
It is not possible to buy f.e IOTA with LTC directly, on Binance, which means one would have to change LTC for BTC in order to purchase IOTA. That makes for an additional exchange fee. Will it still be cheaper(in total) to transfer LTC from coinbase/gdax, instead of BTC, onto the Binance wallet, with the purpose of buying IOTA?
Thanks a lot! 🙂
Yes you can totally just deposit USD directly onto GDAX and buy there, but this was meant for people just starting out with no Coinbase account.
It is cheaper to transfer in ETH or LTC because the transaction fees are less than Bitcoin at the moment and yes I think it would be cheaper but I have not done it personally.
What to Do or best way if you want to sell/move Bitcoin on your CB account to Binance inorder to buy Altcoins. If I reading this article correctly, I should Open a Gdax account then transfer the bitcoin from CB into GDAX then move to Binance (as Bitcoin) the buy Altcoin on Binance.
Yes that is pretty much what you need to do.
Thanks Stache
any time!
I just tried this. Bought at Coinbase and transferred coins to GDAX. Withdraw to a bitcoin address with no fees.
Alright Stache ,
so im a complete newb like just got told yesterday to invest in XRP and just let it sit for a year. But if iv read into this correctly
I should buy LTC
*( Do i need to buy it from coinbase or can I just got thru GDAX and skip the stage of sending it from CB to GDAX )
Then I can transfer it to Binance where I can change my LTC to XRP
and then I was advised to get TOASTWALLET since all I want to do is let it sit for a year.
Is this what you would recommend for someone in my situation?
Thanks again for your article from the Newb
Hi Ellen, yes you can skip the stage of sending it from CB to GDAX and then transfer it elsewhere. As far as XRP is concerned I don’t have any advice for you as that is a coin that I don’t support.
Hi Stache, thank you for the great article.
I’ve read through all questions and answers but i am still missing one part which i am very concerned with.
Do you know what the fee exactly is when you transfer your Bitcoin from GDAX to Binanace? Or LTC, ETH from GDAX to Binance?
Also, I know deposit in Coinbase from bank account is free of charge, Does GDAX also charge zero fees for the USD deposit from bank account?
Thank you in advance for all your answers!
Hi Derick, I can’t tell you want the transfer fee to Binance will be as it is a miner transaction fee and it is always different based on a few factors. Sending Bitcoin is expensive at the moment.
Hi, I understand that sending bitcoin from coinbase is expensive now because of the mining fees. But why would it be cheaper to send bitcoin from GDAX? Wouldn’t the mining fees be the same no matter where you are sending from?
Hi Cathy, yes you are correct there are mining fees either way, but Coinbase also charges your an additional fee on top of that.
Thanks Stache for the helpful guidance. Currently I hsve BTC & Ethereum balances in Coinbase but no USD Wallet.
1) Is Coinbase setup so BTC/ETH balances can be used to transfer into GDX with no fees? 2) If not, is the conversion of BTC/ETH increments into USD Wallet allowed with no fees? 3) Within Coinbase, is BTC/ETH/LTC intercheangeable without fees?
Basically, I like to use BTC/ETC or LTC (lowest fees in GDX) to purchase Ripple in Binance.
Thanks for keeping us at the top of the wave!
Hi Barbara, to answer your questions anytime you deposit funds to coinbase it goes into your USD wallet so you have one. 1) Yes you can transfer your BTC/LTC/ETH from Coinbase to GDAX with no fees. 2) you can’t “convert” them to USD only sell them on the exchange. 3) No you can’t do this on Coinbase.
Thank you so much. I just used your method re: Coinbase to GDAX and the withdrawn to my recipient.
It cost me nothing. As a matter of fact made some in the conversion.
Awesome! Share with friends so they can save too!
Issue I just ran into is I SENT FROM BINANCE to GDAX to avoid the fees as I read, but it still charged me the COINBASE FEES and it shows up in my COINBASE account, not sure if its going to show up in my GDAX since nothing is showing as pending yet, but I used the BTC address from GDAX to send BTC from Binance and it charged me almost 10 bux and went to coinbase, WHAT IS UP WITH THAT???
I have no idea how that could have happened unless you mixed up your Coinbase and GDAX public keys?
I came here to figure out some things I didn’t understand(stuff people were telling me on Reddit). They say that I transfer usd from coinbase to gdax than convert to BTC than transfer to my personal wallet with no fees….but than they say transferring those BTC I transferred from GDAX will still have no fees. That last part doesn’t make sense to me.
I’m guessing it’s only free of fees when I send BTC from GDAX but once they are out of GDAX there will be large fees if I wanted to send out of my personal wallet(electrum) correct?
One last thing…I’ve heard of something called SegWit which electrum supports. It’s supposed to lower the fees somehow. Do you have any knowledge you can pass on to me on setting up/using SegWit?
Thanks. I’m a noob and the fee increase is screwing me up.
Hi Ed, once you send your coins away from GDAX you will incur a mining transaction fee. This happens anytime you make a transaction with BTC. Right now the network is congested and slow so the fees are much higher than normal. Segwit adoption will help and is slowing taking hold with some larger companies but not GDAX/Coinbase just yet. You don’t need to “setup” Segwit, its just a code update that is enabled in software.
Hello Stache! Thank for the guide, I have been looking around on how to buy Bitcoin in order to purchase a product from Bitmain. If the item stated it needs around 0.15531199 Bitcoin, can I sent payment directly from GDAX and will there be a fee in sending payment? If so, should I purchase alittle more than 0.15531199 Bitcoin? Thank you for any help you can provide!
Hi Edward, yes you can send your payment directly from GDAX and yes there will be a miner transaction fee.
I’m not seeing the fees that you are referring to – the ones avoided by using GDAX. I am looking at the “buy” page and have entered “buy” $500 of bitcoin using a verified bank account (ACH). On the right of the screen it shows “coinbase fee” of $4.00 – less than 1%. Is that the one?
Hi Rick, I am not sure where you are actually seeing this on GDAX, but here are the fees https://www.gdax.com/my-fees/BTC-USD
If you buy directly on Coinbase the fees are around 4%.
I just followed your instructions and when I sent the money to binance it dissapearred and I cannot find it. Please help!
Hi Joseph, sorry to hear this! I don’t know what might have happened if you sent it to Binance, my article does not cover this.
Hi,
So basically, i need to open a Coinbase account and then link bank account to it. Then transfer the $$ from bank account to Coinbase USD wallet. Then go to GDAX and open account. Then transfer funds from Coinbase USD wallet to GDAX account while inside of GDAX? So now $$$ funds are in GDAX wallet for me to buy Bitcoin or Ethereum or Litecoin? Is that right? Thanks.
Yep that’s right!
btw, i noticed from your screen shot in gdax that you can deposit funds from your bank to gdax also. you don’t necessarily have to transfer funds from coinbase to gdax right? if that is the case, do people open only a gdax account and just link their bank account and funds to it? thanks again.
yes once you have both a Coinbase and GDAX account you can just buy from GDAX via your CB account.
HI ‘Stache,
Great site… Quick question, if I am sending btc from another exchange to my coinbase btc wallet, what kind of fees am I looking at? Cheaper to set up a Gdax account first and send the btc to wallet there? Thanks in advance-
P.s.- Sorry to get greedy for info, but any opinion on the Zclassic/Bitcoin hard fork (Bitcoin Private) coming towards the end of the month ? I’ve bought a few zclassic coins to get the free btcp coins after the fork.
Thanks for helping,
Carson
Hi Carson, well it depends on what you are going to do with that BTC. If you are sending it to cash out, still send to Coinbase. If to trade send to GDAX. Either way you incur a mining fee for sending it from one exchange to another.
Have not looked into BTCP yet!
Thank you much !
Hey Stache, I’m trying to move 0.4 coin from GDAX to my Ledger Wallet. I clicked on withdraw on the left side of the website, then clicked on BTC address. On that page it says ” BTC network transfers are fast and free”. So I decided to try to out. It’s been a day and I still DONT see it in my ledger wallet. It’s still saying pending in GDAX/Coinbase. I’m confused. Where are the fees I’m suppose to pay? “BTC network transfers are fast and free”? What does that mean? Is my coin lost forever?
Hi Steve, yes this can be confusing. It seems like you did things right, but while BTC transfers don’t have a fee added on by GDAX/Coinbase there will always be a miner transaction fee if you are moving coins from one location to the next. BTC network transfers are NOT fast right now… they used to be and I really do think they will be again. Your coins are not lost and I am sure the transaction will go through eventually. You can also copy the transaction id and then input that id into a blockchain scanner (https://blockchain.info) to see the status of the transaction.
Thanks Stache! I did receive the coin a day and half later. The interesting thing is that I sent 0.04 coin from GDAX and received 0.04 coin in my Ledger Nano S. NO FEES.
Congrats! Glad you didn’t lose out!!
Can’t you just deposit funds directly to GDAX from your bank and skip the CB step? Only reason I would then transfer back to CB is to use the Shift card
Yep thats true!
Cool I thought that was the case. I just deposited some USD there yesterday after reading this blog and realizing my dreams of lower fees could come true lol. What are your thoughts on using the Coinbase account as a secondary alternative to my bank account with the shift card? I know it’s sort of counter-intuitive to the hope of Bitcoin becoming a mainstream currency as I’m selling BTC with every purchase…but I would be buying every week as well. To me it seems like a deflationary safeguard against the inflating dollar and in the long run will get me more bang for my buck if I’m buying the dips and spending on the peaks
Yeah if I could go “full crypto” and not have to use a bank I totally would!
Stache – This process is only for ACH transaction, however if you want to user your credit card you’ll still have to pay for the credit card fee + the network fee. What people don’t understand is this.
ACH – Checking account processing fee’s are much lower and cheaper can be free.
Credit Card Fee are much higher 4%-sky’s the limit depending on your exchanger.
Even if you use ACH from your checking account through coinbase the transaction fee is much cheaper however, its not instance and because of the amount of volume of transaction and other worked. I did ACH transaction one through coinbase it took me a good couple of weeks, that is not doable for an non average Joe and which needs it sooner, plus at the time of the transaction, you’re missing out on opportunities with making money off of BTC, ETC, or whatever you’re trading.
This just needs to be clarified because people still don’t understand even if you do use this GDAX you’re recommeneded transaction is ACH NOT a Credit Card although your fee might be really low or free its NOT going to be fast and can talk up to 2 weeks or longer depending on volume from any company and doesn’t have a infrastructure, and support to process these transaction in a timely fashion.
Thanks Stache! I’m new to this, but got started on CB, and read your blog shortly thereafter. I opened GDAX acct and did bank acct deposit (ACH), which took 7 days (no fees at all!). I understood there would be a wait time, just like you said to “be patient.”
So….I have a question that GDAX FAQs don’t seem to answer, I’m hoping you might know. I bought a few hundred dollars in ETH to let it ride for a while, see what happens (since I’m new to the market.) If it rises at some point and I want to sell, then I think there will be a fee on that selling transaction 0.3%. Correct? Then if I want to transfer some profit back to my bank acct (and leave some in GDAX for another buying opportunity), then is there a fee for that withdrawal/transfer to my bank account via ACH?
GDAX website shows no fees for ACH deposit & withdrawals. Which is fantastic if I’m understanding it correctly. To take my dollars out of GDAX would be free?
Hi, if you did a straight market order on GDAX yes you would pay the standard fee for selling. If you did a limit order you would have no fees. As for the bank withdraw, yes I believe they will always take a fee on fiat withdraw but I have honestly never withdrawn from GDAX.
Hi Stache,
Do you know my coinbase Buy showing “Buy currently disabled” out-of-sudden? Could it be due to I open another coinbase account using different email but tied with same Xfer no?
Emailed Coinbase several times but no respond at all
Can enlighten? Thanks in advanced
Yes if you opened another account that may be the reason. You may have to wait for a while to get a response from Coinbase as they are still scaling their support team.
Thanks Stache,
do you know is there any workaround to enable back the Buy option? Since no reply from coinbase for nearly a months despite several email being sent.
will closing down another account help? or removing the bank account from Xfer help on this?
Thanks
I would go with just one account and completely close the unused one out. That may help.
Well here we are on March 12 and I tried your trick to save on fees using Gdax but I guess things have changed. My USD wallet is funded and not showing up automatically when I click deposit in Gdax.
If your USD wallet is funded on Coinbase you still need to move those USD funds to GDAX for trading. There is a screen that asks you to deposit from Coinbase versus a typical source.
Hi Great info and great job articulating. I have GDAX/coinbase accts. I simply wish to withraw USD witha minimun of fees. Suggestions? Thanks in advance
Hi Rob, “withdrawing USD” means that you have to first sell your cryptocurrency. I suggest doing that on GDAX and then you can easily send that USD to your bank account. There is no good trick to avoid fees on a withdraw, they will always take a fee.
Thanks. I assumed “Pro” was like securities brokerages and required minimums of $100K or at least $50K in holdings!
Nope! You can use it at any level!