KuCoin's main benefits are closely connected to its biggest weakness. This includes bank accounts, debit cards, and credit cards. And I bought 1000 in Bitcoin. Only their value in Euros or Dollars changes (increases or decreases). But it all depends on your trading amounts. Bitcoin Cash BCH 7. I have more ETH to transfer but need to better understand the Coinbase fees before I do. Make sure to select the right network and enter the meme if its requested. Win Up To 5 Free Stocks Worth $3 To $2,000 EachDownload This verification is done through uploading a photo of your driver's license or other state issued ID: If the images are clear and match your information on file, your account should be verified in minutes. Greatly appreciate your thoughts. Doing so is also useful if you plan on becoming a heavy cryptocurrency investor. ETH network fees are at an all time high right now. One of the basic fees associated with crypto are buying fees. But Im not sure about Binance.com since its not available in the US. Now apparently I made 50k with that investment but the person who invited me to invest is asking me to pay 10% of those 50k in commissions but she is saying that I have to pay 5k out of pocket. This transfer was purely to provide fuel for other transactions Im making on this exchange. The CB network fee is actually quite low compared to the real thing. She could try Binance instead! 2. What Im doing right now is stocking up on my ERC20 coins and waiting to bulk withdraw them from Binance or Coinbase when fees are lower or when I have enough to justify the network fee to withdraw. If you want do transfer in maybe a less worrisome coin, due to the SEC stuff with Ripple, I would use LTC since its very fast and low cost. So if I buy BTC and then sell it for a .9% profit I will actually lose money? Ill be sending it to my Dad soon for approval . My plan is to eventually buy Theta. Sadly, theres nothing you can do besides hold and send it when fees dip. Coinbase Pro does not offer card purchases, so naturally you will avoid those fees. Thanks for reading through the article even though it may have been too complex for a beginner. The fees are quite small and can actually be adjusted based on how fast you need confirmation. 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. You can search which coin you want to send as well, if you have too many assets, it would be easier this way than checking the whole list one by one. Hi Ryan. This could be a good way to avoid losing some of your investment. When you sell the BTC, it will convert into whichever currency you chose. I wanted to know how I could buy bitcoins from Coinbase Pro rather than buying from coinbase. First let me thank you for the information and guidance you are providingwe are all grateful. Sam currently works as a business analyst for one of the top food manufacturers in the world. Now simply, enter in the amount of funds you want to move from Coinbase to Coinbase Pro, then when you want to withdraw it, you wont have to pay any fees.. Another option (besides simple swap) is to create an account with Kucoin and deposit some USDT into your Kucoin account to buy THETA. If you buy a $47k BTC, thats a $700 fee unless Im reading this incorrectly. I appreciate your work. I have a 1000 what would you suggest? One tip is to send less transactions and try to put all your ETH into one big transaction since the fee with CB is flat. I thought well it was such a small transaction the fees hurt. The team at CaptainAltcoin.com only recommends products and services that we would use ourselves and that we believe will provide value to our readers. I was just charged 121.60 to send 0.142 BTC from Coinbase to my Ledger Nano X and Ledger live. Is there a minimum amount of money required to start buying crypto? As I recommend, if you plan to not sell and just hold long term, put the coins on your personal hardware wallet. Did the ledger show the fee or was this the fee Coinbase said it was during the withdrawal process? If you use Coinbase or Coinbase Pro you are subject to some sort of transaction fee. But hey, Im not a financial advisor or an accountant so youll want to work those details out with them. I purchased a small amount BTC on Binance, however; If I want to move it to my wallet the fee is very high. Here you can see all the coins that you have, and any coin that you want to withdraw. Youll just need to use the BTC/ETH trading pair. How to send Bitcoin - Transfer fee options Coinbase offers three settings: Slow. The fee charged to transfer from Coinbase/Pro to my Ledger NanoX appeared quite high. Another thing to consider is using BEP2 or BEP20 addresses (vs. ERC20) to move coins from Binance.us to your Binance Smart Chain wallet. I have gradually been learning about various things, but the security aspect became very important to me as I read about online exchanges having been hacked. It is free to withdraw your cash after paying the selling fees. What you could do is send the crypto from your Coinbase account to their Coinbase account and then have them transfer the crypto from their Coinbase to their Coinbase Pro account to save on fees. You mentioned the tax implications in the article but didnt go into much detail (understandable). In terms of British pound this is an 11.00 transfer costing around 8.00 in commission. Im new to the crypto world and I used Coinbase initially. What did I do wrong to get charged so much ? I can help once I have that info. I recommend the Ledger Nano Xsince it's so easy to to use and very safe. So then I moved $100 and the fee was $11.55 (net $89.45 to wallet). We take the address from here and copy-paste it. Since Robinhood doesnt allow you to transfer to other platforms. Check back on Coinbase and see if the address you pasted here matches the one there. If you want to know how the processes of Coinbase fees work, including how to avoid them, continue reading this article. Here are the flat fees for the smaller transactions: Now that weve covered the flat fees, here are the variables. In short, Coinbase Pro fees are drastically lower, but still not as low as the competition. Id like to DCA to cold storage in the EU, which means the withdrawal fees play an important role. However, generally, youll be sending BTC to a wallet (a long chain of numbers and letters or a QR code). Buying cryptocurrency using a limit purchase or limit order is a simple way to save money on trading. Why are there so many people giving advice on which currencies to buy and trading advice but vey limited or nobody teaching online about the different networks and I had no clue why I need eutherem to move my cardano or cartesi between my own coinbase accounts . I think their Maker and Taker fees were high? Withdrawal fees can be avoided if you buy and sell on the right platform. Thing long and hard before making any type of financial decision! Is my thinking correct? Hi Ryan, loving your articles, I live in the UK and would love to get into cryptos it seems the way forward, but I havent got a clue where to start. Did Coinbase incorrectly estimate the transaction cost but still pay it? Is this correct? Just hit me up whenever you need help. There are always fees to send bitcoin since the fees pay the miners/network to validate/verify the transaction as legitimate. I thought Limit Orders were fee free. Free $10 Bonus When You Invest $5+Download. On Wednesday, Colonnese recommended that investors buy shares of the world's second-largest and one of the best cryptocurrency exchange as they had upside to $75 - a 35% premium on its current price. To move it back to Coinbase, youll pay whatever the network fee is at the time for that coin. How about the costs when tradingexchanging one coin for another. When I sell does this convert back to cash or bitcoin. Hi, I'm Ryan. Another option to consider is using Gemini Active Trader. If you sign up for Coinbase using our button above, you will get $5 worth of free Bitcoin! Coinbase allows buying with a bank account, debit or credit card, wire transfer or Paypal. There are so many comments I dont know if this has been asked. The platform also features advanced crypto trading strategies such as margin trading. Consequently, I started storing crypto in my own wallets. They key is not do instant buys and purchase in the market to save on fees. This clearly isnt viable in future. Check out the list of withdrawal fees for each cryptocurrency on KuCoin. 2) For relatively small amounts again should I buy using debit card or stick with a bank my current problem is that bank is taking ~5 business days THANK YOU! How do I direct the next purchase to use up the USD funds already in the Coinbase account? They only give the option to pay with debit card. Youll have to pay fees to send to the Coinbase wallet and from the Coinbase wallet to Coinbase to cash out. The fee to transfer funds on Ethereum or USDT from KuCoin is currently $25. if say I only had $500 in my portfolio..all in litecoins say,doesnt it cost me more then I would averagely profit in an average day just in fees alone? The fees seem pretty high but comparable to most platforms worth considering for the super ease of use. Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. I dont see how that can be right. I have been trading for less than 2 mos and am still tring to learn. The analyst is bullish on Coinbase stock for one simple reason that rewards currently outweigh the risks. I tried Binance.usgot all the way to the end, where you enter your state, and it froze. So you have the Wallet app by Coinbase that has some BTC on it? We would love to hear your story! Your crypto addresses on the exchange could change or update over time. They gave me 14 days to get everything out. Would you recommend I have a wallet and convert my shares into coins and store them in my wallet or just keep things the way they I have it? Cheers! I tried to transfer in my account GBP, but I cant find the Faster Payment method. Some networks are extremely fast and lean while others are slow and costly! Or a coin to a different exchange/wallet? I ask because if youre holding long-term, I would buy the BTC from an exchange and then move it to a hardware wallet for safekeeping. Register with Gate.io today and get a $100 free crypto bonus and $5,500USDTest after you complete the first crypto trade.Sign up now! Would you take that chance or what do you suggest I do when I return home. Yes, I have read the actual article on the dummy site, but it assumes that you have a basic grasp of terminology. Bitcoin has a semi-high transfer fee of 0.0005 BTC ($15 at the time of writing) if youre looking for something a bit cheaper than Ethereum. Kucoin is quickly making a name for itself with its massive collection of over 500 coins! and our Coinbase allows buying with a bank account, debit or credit card, wire transfer or Paypal. Coinbase does have pretty low withdrawal fees so I wouldnt worry about it too much. Im a huge fan of the Celsius project (leadership and use-case are ) even though it is centralized. Personally, I use Binance to buy and trade. BTC has multiple trading pairs so if you want to cash out, I would recommend the USD pair. Now see the examples below. The go to website to learn about Bitcoin and the cryptocurrency space. I def understand the want to do that. Coinbase has consistently ranked as a top crypto platform for its large collection of tokens and simple user-interface. You will see all different coins available on the exchange. Here are . Here, check the address, the coin, the network, and the amount, basically everything you have written so far. Then we move back to Kucoin. Heres a helpful article to explain further. If you make a transaction of $78.06 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 3.99%. You will simply log in using your same username and password. Coinbase does not charge to or from their wallets. Thank you! By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Coinbase doesnt have any deposit fees for crypto. Changed the country, it was approved, but I still have in my account the address in England, but the Country still Austria. Not terribly . Please, do make sure to put all the security features (2fA) on for your account for safety! The fee to transfer funds on Ethereum or USDT from KuCoin is currently $25. If so, even if those hardware wallets disappeared right now, youll only need to buy a new one and use that secret seed passphrase to open the wallet back up again. Hey Ryan, looks like you actually cannot send from coinbase to coinbase pro. The other option is to move over to Gemini because you can withdraw for free up to 10x per month. Personally, I pay close attention to taxable events (and potential tax harvesting) so there are no April surprises for wife and me. (2) move cryptos from coinbase to coinbase pro (3) liquidate from there and transfer USD to bank. Thanks ! Also I would like to use Coinbase but if another exchange is better I would be interested to know that as well. Hi Ryan I made the mistake of selling some cryptocurrency on Coinbase, which then left it as a USD balance in my account. I checked online and voila! Can you advise on the best way to procede? Scan this QR code to download the app now. One of the basic fees associated with crypto are buying fees. Unfortunately, I am not familiar enough with SwissBorg to give you an educated opinion (being from the States). With Coinbase and just about any exchange, youll want to send out your crypto in bigger blocks to keep your fees low. Let me show you below. You can't use a credit card when buying and selling. You reply is much appreciated! Once done, search for the cryptocurrency that you wish to withdraw and click on the withdraw button.. Personally, I use Cryptosteel cassette/capsules for that. I use all three for certain situations I usually use Coinbase Pro as my off and on-ramp. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Also if I use my own is there a fee for transferring to my own wallet and then another one for transferring them back when I want to selll. For example, if you are transferring Ethereum, the minimum transfer amount is 0.02 ETH and the fee is 0.01 ETH. Its almost as if they dont want this type transaction to take place. Good info. I dont use crypto currency for anything yet. I have definitely left some spare change on CB. I only transferred $25 for a test and was charged $12 in fees! Is there a difference in Coinbase fees going to Coinbase Wallet versus Ledger? Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood. Here's how: 1. Of course, none of this is investment advice. You will receive an email once you are verified or if Coinbase needs more information. Do I miss anything? Network: Buy Bitcoins Instantly Using Debit/Credit Card, Buy Bitcoin Anonymously (without Verification or ID), How to Transfer Bitcoin and Ether (& other coins) Between Coinbase and Binance, How To Transfer Bitcoin from Coinbase to Kraken. You then need to copy-paste your Shiba wallet address from Coinbase and paste it into Kucoin. I had some small holdings in Coinbase, which I converted to BTC and transferred to Binance to purchase an altcoin. doing the same thing over and over, but expecting a different outcome. Transferring cryptocurrency is actually fairly simple. $138 fee for a 1000 transfer! Is that translated to Binance? Thanks. 5 riefentendre 2 yr. ago Yes and faster Koppper05 2 yr. ago Thank you so much! I research and invest a little each month and my portfolio is slowly growing because I have not sold any of my investments. Normally I have been exchanging DKK to EUR for buying crypto. Hey Bhavesh! To execute a transfer from KuCoin to Coinbase, you will follow the following 4 steps: Let's take a look at each of these 4 steps for more information. I would stick with your bank and get verified to the highest level with your exchange. Afterward, click on Continue in order to see the confirmation page. Bugs me that I have to pay 0.0005 BTC to transfer my BTC from Binance to BlockFi, which is 22 dollars . So simply, move over to Coinbase Pro to save some money on your purchases, and trades. This may sound crazy considering the news recently, but XRP is the cheapest and fastest way to transfer between exchanges (in the short term). If not, get one now so to keep your coins safe! Hi Ryan, Thanks for your informative post as well as answering all these questions. Tether (USDT) is an Ethereum token that is pegged to the value of a U.S. dollar (also known as a stablecoin). Thank you my man, I really appreciate the help!!! However, my math generally shows that Binance.us is still cheaper than Gemini and Coinbase when factoring in the withdrawal and trading fees. Thanks! If you dont have a Binance account yet, please us my referral code for Binance.us or Binance.com. Instead, you have to buy it via the Kucoin Exchange. Cryptocurrency Exchange Security Review, Trading Bot Guide: Purpose, Timing, And Advantages, How to Invest in Bitcoin: A Guide for Beginners. For some, KuCoin can be overwhelming as it was designed for advanced traders. Are you planning to send it from CBW to a personal wallet or an exchange? Do you have your secret passphrases stored away and/or memorized? And also, consider tax implications as well. Sorry for the delay here holy smokes, somehow I missed your comment. This has been outlined in detail above., Transfer times depend on the type of cryptocurrency that you are withdrawing.. Let's take a step-by-step look at how to transfer USDT from Binance to KuCoin. I cannot figure out which one is cheaper. Hey Joe! I also use their direct deposit feature so it auto-buys for me whenever I get paid. Thats so high. Your weekly and daily spending limits will change as you complete this information, Coinbase provides updates about your new limits and if you are getting close to hitting them. I was just wondering what are the fees for converting one coin to the other on Coinbase and how much on Coinbase Pro. Depending on how fast the cryptocurrency network of the coin youre sending is, you should see your assets appear in your Coinbase account in anywhere from five minutes to one hour. My muddled understanding of Coinbases terms is that they estimate transaction costs and include them in the network fee. The only place Coinbase and Coinbase Pro win, fee wise, is that their estimated fees are generally on the lower end vs. the higher end. Coinbase offers both there normal trading platform, (which is actually more of a brokerage) and Coinbase Pro which is for more advanced trading. Sounds like I need to use pro so I dont get eaten up by fees. You also have the option to buy crypto right in the Ledger Live app via Coinify. KuCoin does have set withdrawal fees as opposed to withdrawal percentage fees. The best you can do is wait till you hold enough ETH to then withdraw it for that fee. And when your purchases are smaller, there is a flat fee charged. What exchange would you recommend for this non-trading purpose? 1. In this example, well use $100 again. Even though the stock is up 55% so far in 2023, it's still down 85% from the all-time high set in Nov. 2021 (as of this writing). I know ledger has a partner coinify or something I havent looked into yet but just wondering if you had an idea of what would be cheapest / easiest automation of purchases? I just moved .00282029 or $100 of BTC to an external wallet from Coinbase. I mean they will be going public soon. Question, I would like to accept crypto as a form of donation for my non-profit, what would you suggest to minimize the transaction fee? From there, they would have ownership of that BTC in the personal Coinbase account attached to the email address. In order to withdraw to an address, first, you need to know the address, so lets check how we can get the address from Coinbase. Your Coinbase wallet is separate from your Coinbase brokerage account. You should be able to just buy with the USD in your account. Monero XMR 3. Here is our review of three of the most popular investing apps out there! If you have a high enough trading volume, you can avoid some of the higher rate fees involved for lower purchases. Fast. I am very unhappy with Coinbase Pro at the moment. For further information on Coinbase fee structure, please check this page; https://help.coinbase.com/en/exchange/trading-and-funding/exchange-fees, CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. 2. Or Binance just charges you a flat fee per trade. If I wanted to convert crypto to fiat (US $) on Coinbase, should I do so on their site and suffer the fees, or is there a better option (e.g. So does that mean you are only keeping 15% of you holdings in your hardware wallets? What can I do to avoid this extreme fee.? Also, theres some cool stuff out there to safely store the seed/passphrase. If not, let me know how I can clarify further. Hi George! Depending on your payment method, Coinbase charges more. However, to send/receive crypto, you do need to verify your account. Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Glad to hear it! It is the main go-to for people who like to invest in cryptocurrency. Wow you are right. BUT if you dont plan to sell or trade or convert, just send it the coin as-is for simplicity. But honestly, Binance.us is very secure I wouldnt be very worried about holding a decent amount of coin in your wallet with them when youre ready to off-ramp to cash. If I sold everything I was trading on Robinhood, then waited for that money to land in my bank account (which would include all profits) and then instantly buy back that same amount on Coinbase, would I have any tax obligations? Hello Ryan, Thank you for this blogI am new to crypto so this was my first transfer of a crypto from coinbase to my NanoS using Ledger Live. Plus you have strange imposed limits and other regulations hidden in the small print. As with any exchange, Kucoin also has withdrawal fees. Mostly likely, the most usable coins will succeed and the rest will fail. Fine with holding shorter term in Coinbase, that use for purchasing NFTs, but since pay fee to buy crypto, hate to pay fee again to just move it to my ledger wallet. Make sure that you select the correct address and network. The information on Investing Simple could be different from what you find when visiting a third-party website. It is not an offer to buy or sell any security, product, service or investment. Hey Matt! A Brief History of Cryptocurrency, https://www.blockchain.com/charts/fees-usd-per-transaction, https://www.cryptoryancy.com/best-european-crypto-exchanges/, If you are buying or selling in the amount of $10.99 or less, the, If you are buying or selling between $11 and 26.49, the, If you are buying or selling from $26.50 to $51.99, the, If you are buying or selling from $52 to $78.05, the. Hi Ryan. Yes, you can certainly do that! Another thing not many people know is that you can help increase your limits by adding more financial information to your account. What is the cheapest way to send BTC to your Ledger wallet? What do they get in their email? If you do plan to turn the crypto to fiat rather quickly, I would then just set up a Coinbase and Coinbase Pro account. I recently moved my largest holdings from Celsius to my HW wallet because I have the keys. WHY DO YOU HAVE TO PAY TAX BEFORE YOU CAN WITHDRAW. This is from a couple of years ago, but now they say no longer allow do business w US customers. First $10 move cost me $1.15 (net $8.95 to wallet). After reading a bunch of reviews I am thinking of using Coinbase. You will have limitations on how much you can purchase and sell through Coinbase each week.