Reduce Fees By Using GDAX Instead Of Coinbase
It’s a common occurrence among new-comers to the cryptocurrency world. They set up their initial Coinbase account, are attracted by the ordinary layout, are not shocked by the amount of cryptos on suggest (just Bitcoin, Ethereum, and Litecoin at time of writing), and accordingly get comfy with the toneelpodium spil they build up their confidence ter trading. All those other somewhat more complicated and visually assaulting instruments like GDAX come straks te the spel.
But convenience is akin to railing Singapore Airlines ter very first class. It comes at a cost.
Bear te mind, Coinbase is a fantastic operation. It is just the right kleintje of device to give the common man the moxie required to dive into this market. Unluckily, convenience comes at a higher than necessary toverfee.
Financial Carnage With Coinbase
The above screen capture wasgoed taken from the Coinbase support pagina. Spil you can see, you can truly take a klapper with fees by using the all too tempting convenience of the toneelpodium. For example, if you wished to purchase $1,000 worth of Bitcoin via a credit card, that would amount to almost $40 just te fees alone. Surely there voorwaarde be a better way.
Say Hello To GDAX
It might rente you to know that the GDAX exchange is actually wielded by Coinbase. The key difference inbetween the two platforms is that GDAX is geared towards institutional investors and more active traders. Since the sheer volume of caudal moving ter and out of GDAX is more substantial than Coinbase, the fees associated with its use are much more reasonable.
Te the following photo capture, you can clearly see how much money you can save on this more advanced verhoging. GDAX only charges a 0.25% taker toverfee, while Coinbase will charge 1.49% at the ondergrens.
Want to pay just 1/6th of the fees compared to Coinbase? Switch to GDAX.
What Will GDAX Do For You?
The absolute highest toverfee you will everzwijn be paying on GDAX is 0.25%, while almost 1.50% is the smallest possible toverfee to pay on Coinbase. That is a massive amount of money you can save on this more advanced toneel, ter and of itself. So if you have bot using Coinbase for quiebro some time to buy and sell Bitcoin, Ethereum, or Litecoin, please zekering what you are doing spil soon spil possible.
Sign up for GDAX, which is possessed by Coinbase, and stir all of your trading activity to GDAX. Because you are going to be paying way less fees, and you will be saving yourself a considerable amount of money te the long run. A wise investor doubles spil a thrifty investor.
This article wasgoed originally published at CryptoGeography. Permission to reprint this article elsewhere is granted, provided that all text and hyperlinks (including this footnote) remains intact.