Here’s how to Instantly lose money with Coinbase

Contents

Customers complain about high fees on Coinbase

Customers complain about high fees on Coinbase
CONTENT

  • Users blame Coinbase for unreasonable high fees

  • Investors refuse to buy BTC due to high fees

  • Exchanges motivate customers to buy more cryptocurrency

International consortium of news organizations, developing transparency standards.

Several clients of the Coinbase cryptocurrency exchange at once complained about the high commission when buying bitcoin. Information about this appeared in the thematic community on Reddit, where a user under the nickname IceColdSeltzer reported that the commission for the purchase of two bitcoins was $ 375.

Customers complain about high fees on Coinbase

As the user admitted, he would like to purchase more cryptocurrency, but with such a commission, the purchase of BTC is simply unprofitable.

Other Reddit users have advised using Coinbase Pro, a specialized app for traders, where the fees for buying cryptocurrency are slightly lower. However, Coinbase trading fees are indeed significantly higher than their nearest competitors..

BeInCrypto compared the commission for trading with Bitcoin on other cryptocurrency platforms:

– Binance – 0.1% – 0.004% for the taker and 0.1% – 0.02% for the maker;

– EXMO – 0.2%;

– KuCoin – 0.1% – 0.03% for the taker and 0.15% – 0% for the maker;

– Localbitcoins – 0% – 1%.

Customers complain about high fees on Coinbase

The commission is paid by the creator of the application;

– Bittrex – 0.25%

– Yobit – 0.2%

Recall that earlier cryptocurrency exchanges did increase the commission for the withdrawal of Bitcoin during the period of its fall. The platforms simply could not promptly process orders, which poured in at the moment when the value of BTC dropped to a minimum of $ 3800. At the moment, exchanges work in a standard mode and do not increase commissions.

Cryptocurrency on credit and other offers

 

While the price of bitcoin is recovering and steadily rising up, cryptocurrency exchanges offer new favorable conditions for investors. In particular, BeInCrypto previously reported that the head of Binance is offering investors to buy bitcoins on credit. Changpeng Zhao, CEO of Binance, urges his subscribers to buy cryptocurrencies with credit cards as “there is infinitely much money around.”.

This is not the first time the founder of a cryptocurrency exchange recommends users to invest in bitcoin. The same opinion is shared by another famous investor Tim Draper, who has repeatedly stated that bitcoin will become the currency of the future, and today young people should invest in cryptocurrencies. Nevertheless, if the size of the commission on cryptocurrency platforms is high, then it will be unprofitable to buy bitcoins..

Disclaimer

All information, contained on our website, published in good faith and objectivity, and for informational purposes only. The reader bears himself full responsibility for any actions, committed by him on the basis of information, obtained from our website.

Share Article

By admin