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How to Avoid Coinbase Fees Legitimately

10/10/2018
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Coinbase is a prominent and fast-developing platform on the Internet, developed for e-coins exchange. It is connected to your bank account, so you can instantly exchange fiat money from your card to e-money.

The system works for free, however, it requires a lot of money for the system maintenance by the programmers and financial specialists. That is why every time a user purchases a coin, the Coinbase automatically keeps back up to 4 percent from the sum. This percent is called Coinbase transaction fees. None of us likes fees, and if you do not want to pay them, we have some excellent news for you. There is a totally legitimate, fast, and safe way to avoid Coinbase network fee and buy coins with no additional payments at all. Keep reading this article to find out how it works.

Coinbase Fees Explained in More Details

As we have already mentioned, Coinbase network fee is a percent, which the system automatically keeps back from every transaction or credit card deposits. How much does Coinbase charge? The percent is always the same for all the kinds of operations on the platform - 4%. This percentage of Coinbase fees too high and pays back a lot of money to Coinbase. Thousands of new users exchange e-coins every day, and all of them have to pay taxes to the system.

For instance, if you buy $100 of bitcoin, you will have to pay a fee of about $4. The Coinbase fee calculator shows that you will spend more than $120 a month as a fee if you trade every day. No wonder, that Coinbase earns thousands of dollars every minute and has become a multi-million-dollar company.

This is the way the Coinbase fees are explained. The platform requires daily maintenance, and its creators want to earn some money too. Nevertheless, what shall you do, if you do not want to pay extra money? Of course, you can look for another platform, but it may turn out to be riskier and less convenient than Coinbase. Do not worry; we have a solution for you! All you need to save the money by paying no fees is to make some simple steps.

How to Avoid Coinbase Fees

This safe and fast method is based upon the fact, that there is another platform of the same kind. It also belongs to Coinbase creators and even uses the same back-end. It is called GDAX, and it works without Coinbase credit card fee and Coinbase sell fee for certain trades. Considering the fact, that these two platforms are relative, the e-coin you buy would be of the same price in both Coinbase and GDAX. And you are free to transact your coins from one platform to another, paying no Coinbase transfer fees.

So here are the steps you need to make to avoid Coinbase transfer fees in GDAX:

  1. Sign in on Coinbase;
  2. Link your bank card;
  3. Sign up on GDAX, proceed the verification;
  4. Transfer a sum of money you want to spend on Coinbase;
  5. Transfer the money to GDAX and trade there. After the purchase is made, you can easily transfer it back to your Coinbase account paying no Coinbase USD wallet fees.

Here we should mention, that you should use Coinbase limit order when buying cryptocurrency. This will enable you to pay no fees at all (instead of the 0.3% fee, which is standard for GDAX). But even if you purchase without limit, you will pay less fee on GDAX.

How to Sell on GDAX in 2 Steps

So you have created an account and look forward to trading with zero Coinbase debit card fee. Here’s our ultimate 2 step guide on how to sell on GDAX.

  1. Decide what currency pair you are going to exchange. To do it, click on the switch button on the top left corner. The trading pairs available are Bitcoin, Ethereum, and Litecoin to USD, or digital coins like BTC or GBP.
  2. Place your order. Here is another choice you need to make. There are 3 options: a market order, limit order, and stop orders.

As we have mentioned, the limit order is preferable, because it provides no Coinbase deposit fee. But it is a longer and more sophisticated way. Here you leave an order to buy currency for a certain price, and it gets in an order book. You may wait for a while before the order proceeds.

The market order is much simpler and faster. You set the amount of cash you want to spend and confirm the order. The exchange procedure will proceed immediately. The stop order is the most challenging method of trading; we recommend it for experienced traders.

How to Buy on GDAX via Stop Orders

Stop orders are similar to limit orders, as both of them are employed when the currency gets to the price the broker sets. The only difference is that the limit orders instruct to buy currency when its market price gets lower and stop orders control when the market price is higher than the current one.

In other words, stop orders are used to gain profit from price growth and to minimize loss during its falling down.

How to buy on GDAX using stop orders:

  • Click the “stop” button on the panel;
  • Choose “Buy” option;
  • Set the sum you want to buy;
  • Choose the price you want to buy currency for;
  • Click “Place Buy Stop” to place the stop order.

Trade Without Paying Coinbase Selling Fee: Summing Up

Coinbase is one of the most reliable e-currency exchange platforms. However, you need to pay a fee for using it. To avoid fees, the best legal method is to exchange your fiat on GDAX. It requires a few easy steps to transfer your money on GDAX and proceed the exchange. You need only to create an account there, link it with Coinbase, and choose the way you want to buy or sell the coins on GDAX. After the procedure is complete, you can easily transfer the money back to Coinbase for free. This fast and safe method enables you to save a lot of money and not paying fees.

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