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RE: Coinbase now has more users than Charles Schwab!
But them fees there are too big.. :/ Pretty good news for crypto anyways though since this is the most popular place to get started. :)
But them fees there are too big.. :/ Pretty good news for crypto anyways though since this is the most popular place to get started. :)
The other day I wanted to move my BTC out of Coinbase and I was going to have to pay $10.00! Frankly it is not financially viable to move anything less than $1,000 for a fee of $10.00, in my opinion.
What's worse is these fees are not going to get any better unless we change BTC scale problems particularly if the rumors about the "dragon slayer" conspiracy are to be believed.
We need a solution, to kill this debate and move forward in unity.
Agreed. Fees are much too large, but some wealthy newbies (who are driving the price) don't care and just want a piece of the action. However, CoinBase also provides a way to combat this (their GDax) which allows for P2P trading at a competitive rate (also great if you have to push a lot of volume).
Check out this to avoid all fees associated with withdraws and deposits and trading for Bitcoin for Coinbase and GDAX :https://steemit.com/bitcoin/@cryptoblew/how-to-avoid-all-fees-with-coinbase-and-bitcoin
I agree. The fees are pretty large and get bigger the more you trade. I suggest using GDAX even though it is ran by the same team.
I agree. Their fees are higher!
Yes, the only thing that gets new crypto enthusiast is the amount you need to start with GDAX. I would suggest starting with CoinBase then transfer it to GDAX from within the exchange.
Agreed. I think as these things gain in popularity we will see fees come down. Hopefully that is soon. Though moving large amounts of bitcoin across borders is still much cheaper than moving large amounts of cash.