Selling Fees

When you are selling on digital currency on Coinbase, the fees you&#;re responsible for will be automatically deducted from the amount you initially entered. In this example, we&#;ll use $ again.

If you key in $ is the amount you&#;re selling, the fee is %. Since the fees are automatically deducted, the total amount you are selling the cryptocurrency for is going to be $

That is also the amount you will see applied for your payment method of choice. However, a full $ of BTC is going to be removed from your account.

Where You&#;ll Find Your Trading Fees

Regardless of whether you&#;re buying or selling the digital currency BTC, you will always receive an automatic charge for any necessary fees. You will see a full write up of your transactions in digital and local currency in addition to the fees you&#;re being debited on the confirmation screen.

How Much Money Does Coinbase Charge?

The fees charged by Coinbase are pretty low. But they can add up, especially if you use the service often. You will see the buying and selling fees we described above.

There may also be fixed and variable fees depending on the amount of the transaction. And when your purchases are smaller, there is a flat fee charged.

Here are the flat fees for the smaller transactions:

• If you are buying or selling in the amount of $ or less, the trading fee is $
• If you are buying or selling between $11 and , the trading fee is $
• If you are buying or selling from $ to $, the trading fee is $
• If you are buying or selling from $52 to $, the trading fee is $

Now that we&#;ve covered the flat fees, here are the variables.

You can make a transaction of up to $ within the Coinbase system if you use either your bank account or USD wallet to buy or sell cryptocurrency.

However, if you are making a purchase or sale of $ or more, the variable of % kicks in.

If you make a transaction of $ or more, with a credit card or debit card and then transfer all your proceeds into your PayPal account, you will have to pay a variable fee in the amount of %.

The Possibility of Bank Fees

On top of the Coinbase transaction fees, you may see some fees outside of your Coinbase account &#; we&#;re talking fees from your own bank.

Some users are charged a 3% foreign transaction fee if a transaction is made via a credit card or debit card. The 3% is standard for international conversions, but it really depends on your bank.

The reason some people get these charges is that Coinbase works with a company that&#;s based in London to process its credit card and debit card transactions.

Just so you can have a clear understanding of what to expect, you should speak with your bank to find out if those are fees you&#;ll ever need to worry about when buying digital currency.

Can You Really Avoid Paying Coinbase Fees?

While Coinbase&#;s fees are pretty reasonable in comparison to other brokers, it&#;s still nice to avoid paying them if you can. To start, you will need to start using Coinbase Pro. Read the article linked, if you&#;re unsure what&#;s the difference between Coinbase and Coinbase Pro.

While its name implies that it is a version that should only be used for professional traders, don&#;t allow it to intimidate you. There are a few extra steps while using Coinbase pro, but it isn&#;t much more difficult than the standard version you are already used to.

The main difference between the platforms is that the standard Coinbase is a broker. In other words, it helps you get access to Bitcoin and it charges you a fee for it.

Coinbase Pro, on the other hand, is an exchange. This means you can freely buy and sell Bitcoin on the open market.

One major bonus here is that if you already have a Coinbase account you also have access to a Coinbase Pro account, you just may not have realized. You will simply log in using your same username and password.

And the fees are vastly different between the two.

Withdrawal Fees

With Coinbase & Coinbase Pro, there isn&#;t a direct withdraw fee. However, there is a &#;network fee&#; at the time of withdrawing that varies depending on how busy the network is of the selected coin.

So unfortunately, there is no way to skip this fee. In past years, you could transfer your coins to Coinbase Pro to skip this fee but that was changed a while back.

To lower your fees during your withdrawal, I recommend selecting a fast and low fee coin to do so. But please do be vigilant of taxes when trading coins to move them out of Coinbase.

Personally, I move from exchange to exchange with LTC or XLM. However, if I&#;m worried about the price slipping or taxes, I just transfer the coin as-is and eat the fees. Odds are in favor the fee&#;s are quite low anyways!

For example, I just moved 1 BTC the other day and it cost BTC &#; which was around $ to move over $35K in BTC (1/11/).