Use This “Secret Method” to Avoid Paying Coinbase Fees
Withdrawal fee? Buying fee? Conversion fee? All unnecessary.
In my last article we took a look at the different fees that Coinbase charges its users to buy Bitcoin (or other cryptocurrencies).
Compared to most other brokers these fees are relatively reasonable, and may be worth paying for the convenience offered.
In addition to the fees charged for buying, Coinbase also charges for an exchange fee, and also passes on the network fee for withdrawals of digital assets.
However, there is a “secret method” for using Coinbase that avoids almost all of the fees they charge.
Coinbase Pro. The name sounds like a version of the website for professional traders, and might be a little intimidating for most of us. Fortunately, that’s not really accurate at all.
The difference between Coinbase and Coinbase Pro is that Coinbase is a broker (i.e. a service that acquires Bitcoin for you and charges you a fee) whereas Coinbase Pro is an exchange (where you can buy and sell Bitcoin on the open market). The latter was formerly known as GDAX, until a recent rebranding.
Conveniently, if you have a Coinbase account you already have a Coinbase Pro account. The same login credentials…
