Investment

Coinbase Fee Structure: is Coinbase free to use?

Is Coinbase free to use and how much do buying or selling Bitcoins, Ethereum and Litecoin on Coinbase cost?


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Coinbase Fee Structure: is Coinbase free to use? (c): www.coinbase.com

23.09.2019

Coinbase is considered to be one of the largest bitcoin exchanges in the world, even though it supports only 32 countries at the moment. With three payment methods (credit or debit cards, PayPal, and bank transfers), it is important to understand the fee structure in order to properly plan transactions at the platform.
 
This guide provides exactly that, listing all costs associated with depositing, withdrawing, buying and selling bitcoins at Coinbase.





What is Coinbase?

Coinbase is an Bitcoin exchange that offers its services to traders located in 32 countries, around the world. The accepted purchase methods are bank transfers, credit or debit cards and PayPal. It is considered to be one of the largest platforms in the world when it comes to bitcoin trade. Since it is a regulated financial company, traders are required to verify their identities with scanned ID and proof of address.

 

coinbase-review-promo-code © "coinbase.com Screenshot"

For a new registration using our link you will receive a bonus of Bitcoin worth 10 US dollar . These will be credited to your account after purchasing Bitcoin worth 100 US dollar on Coinbase. Just register a new Coinbase account using the link, purchase Bitcoin, Ethereum or Litecoin worth 100 US dollar and your bonus is credited. Click here to receive Bitcoin worth 10 US dollar with the Coinbase Promo Code. Note: we will receive a bonus of 10 US dollar as well.

 

Read the full review of Coinbase

Coinbase Review - Buy Bitcoin © "coinbase.com Screenshot"

Safe and easy Bitcoin- & Ethereum-wallet with integrated buying or selling Bitcoin, Litecoin & Ethereum. Read the comprehensive review of Coinbase.

 


Coinbase Charges - Is it free to use?

Yes, Coinbase is free to use. Although registering an account at Coinbase is completely free of charge, do note that most transactions carry with themselves costs that you should take into account when trading BTC at the platform. Buying, selling, depositing and withdrawing bitcoins also carry fees that would increase the total price of cryptocurrency when purchasing and decrease the overall profit margin. 


Additionally, the general fee structure is the same when it comes to selling, buying and depositing activities at Coinbase exchange. Fees are organized according to the method used in transactions.

Coinbase fees for selling Bitcoin

What distinguishes selling transactions from other activities is the fact that costs are subtracted from the total value of bitcoins you wish to sell. For example, if you wish to sell $100 worth of BTC, you will receive $98.51 in funds with volume expressed in coins will be transferred from your balance expressed in $100.
The fee structure is organized as follows:

  • PayPal: 3.99%.
  • credit or debit cards: 3.99%;
  • bank transfers: for US 1.49%, SEPA €0.15, bank wires free;
  • Coinbase wallet: 1.49%.


It is worthy to note that for US traders, a base rate of 4% is charged for all transactions, selling activities included.

Coinbase Withdrawal Fees

If you are withdrawing bitcoins form Coinbase, you will be charged a variable miner fees which change on a daily basis. Fiat currency withdrawals, on the other hand, cost 1.5% for both EUR and USD withdrawal transfers.

Coinbase Deposit Fees

Depositing funds and bitcoins at Coinbase has its own fee structure:

  • bitcoin deposits: free to upload from any bitcoin wallet you have except for mining fees;
  • bank transfers: wire transfers and SEPA are free, while US wire would cost $10.

Coinbase Trading / Exchange Fees

Standard buy and sell fees stand at 1.49% for all countries involved, except in the case of US traders who have a base fee of 4%. The base cost for Americans does not apply to deposits and withdrawals but does for trading/exchange activities.


Another important aspect is that you have another method that you can choose instead the above-mentioned fee structure. Coinbase will charge you either a fixed fee per method or variable cost, depending on which is greater. The said variable cost stands at 1% (minimum $1 and maximum $50 – bank transfers) while a fixed fee is 2.49% (credit/debit cards and PayPal.

Coinbase Miner Fees

Miner fees are charged by the network, meaning that although Coinbase does not have any sort of control over them, will happily pass these costs down to traders. The miner fees change from day to day and are connected with the transfers you make with bitcoin (inbound towards your Coinbase wallet or outbound to your other addresses).

What are these miner fees anyway and who gets them? The BTC miners of course! And the interesting fact is that they get that money atop of the coin funds they are rewarded with once they break the mining block (12.5 BTCs at the moment per block). According to the Business Insider, at the mid 2017, mires were awarded $2.3 million, a number which will grow in the future as number of transactions will grow as well.
Currently, the miner fees stand at $2.5 per transaction.

 

Coinbase Fees for each country:

Coinbase Fees Australia

Credit / Debit Card Buys

3.99%   

 

Coinbase Fees Canada

Credit / Debit Card Buys

3.99%  

 

Coinbase Fees Europe

Standard Buy / Sell Credit / Debit Card Buys Bank transfers (SEPA)  - in / out*

1.49% 3.99% Free / €0.15  

 

Coinbase Fees Singapore

Buy / Sell Credit / Debit Card Buys

1.49% 3.99%  

 

Coinbase Fees UK

Standard Buy / Sell Credit / Debit Card Buys Bank wires - in / out * Bank transfers (SEPA) - in / out *

1.49% 3.99% N / A Free / €0.15  

 

Coinbase Fees USA

Base rate of 4% for all transactions**

Payment Method for Purchase Effective Rate of Conversion Fee (after waiver)

U.S. Bank Account 1.49%, with a $0.15 minimum

Coinbase USD Wallet 1.49%

Credit/Debit Card 3.99%  

Payout Method for Sale Effective Rate of Conversion Fee (after waiver)

U.S. Bank Account 1.49%, with a $0.15 minimum

Coinbase USD Wallet 1.49%

PayPal 3.99%  

USD Deposit Method Fee

ACH Transfer Free

Wire Transfer $10 ($25 outgoing)  

 

* Note - In some cases your bank may charge additional fees for transfers between your bank account and your Coinbase account.

** The base rate for all Purchase and Sale transactions in the U.S. is 4%. Coinbase waives a portion of the Conversion Fee depending on the payment method you use. The effective rate of the Conversion Fee disclosed here is calculated as the base rate, net of fee waivers. The base rate does not apply to U.S. Dollar deposits and withdrawals.

See: https://support.coinbase.com/customer/portal/articles/2109597-buy-sell-bank-transfer-fees



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