Summary: Coinbase is one of the most expensive retail exchanges in the world, with fees starting at 2.99% per transaction for cryptocurrency trading.
Experienced crypto traders use alternatives like eToro which offers zero fees to trade Cryptocurrencies, Stocks, ETFs and more.
Table of Contents
Why are Coinbase Fees so High?
Coinbase is one of the most popular cryptocurrency exchanges, and it charges some of the highest fees in the industry. There are a few reasons for this:
- Coinbase is a US-based company and is subject to US Securities and Exchange Commission regulations, which are generally more stringent than those in other countries. This means that Coinbase has higher compliance costs, which are passed on to users in the form of higher fees.
- Coinbase is one of the most user-friendly exchanges, and its simplicity comes at a cost. The company has developed an easy-to-use platform that makes it ideal for first-time users, but this also means that it doesn't offer some of the more advanced features that more experienced users might want.
- Coinbase is one of the most popular exchanges, which means that it has a lot of users and a lot of trading volume. This high volume results in higher fees, as Coinbase charges a percentage of each transaction.
You can see the full Coinbase fee schedule below.
Coinbase Wallet Fees
The Coinbase Wallet DEX conversion fees are also the most expensive compared to other on-chain wallets. The Coinbase Wallet currently charges 0.5% per swap, which is 5x more expensive than decentralized platforms like UniSwap that charges 0.1% per trade.
Coinbase Pro Fees
Coinbase also offers an advanced trading platform called Coinbase Pro. It is an order book style exchange that allows users to trade over 50 different crypto pairs against US Dollars.
The fees on Coinbase Pro are significantly cheaper than the retail Coinbase App and start at 0.5% per trade.
Coinbase vs Coinbase Pro Fees
The table below is a comparison of Coinbase fees vs Coinbase Pro to provide a quick summary of both platforms.
 |
 |
|
|---|---|---|
| Trading Fees | 1% per transaction (buy or sell) | 0.5% per transaction (buy or sell) |
| ACH Deposit | Free | Free |
| USD Wire Deposit | $10 | $10 |
| Credit Card or Debit Card Deposit | 3.99% | Not Available |
| PayPal Deposit | 2.5% | Not available |
| ACH Withdrawal | Free | Free |
| USD Wire Withdrawal | $25 USD | $25 USD |
| Other Hidden Fees | None | None |
| Website | Visit Coinbase | Visit Coinbase Pro |
How to Avoid Coinbase Fees
Despite many users thinking Coinbase is expensive, it is actually a very cheap exchange if you know how to use it properly. As mentioned earlier, Coinbase's fees per transaction when you deposit funds via a Bank Transfer are a mere 0.5% per trade.
To avoid fees on Coinbase, it is recommended that you do not buy with a Credit Card or Debit Card, but via a Bank Transfer. Banks like Wells Fargo and Chase Bank enable clients to deposit US Dollars to Coinbase for low fee trading.
Coinbase Overview
Coinbase is a digital asset trading platform that allows its users to buy, sell, and store cryptocurrencies. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam, and it is headquartered in San Francisco, California. Coinbase allows its users to buy and sell Bitcoin, Ethereum, Litecoin, and over 500 other cryptocurrencies. The company also offers a Coinbase Wallet, which allows users to store their cryptocurrencies and interact with DeFi applications.
Coinbase has been praised for its user-friendly interface and ease of use. The company has also been criticized for its high fees and lack of customer support. Overall, Coinbase is a popular digital asset trading platform that offers its users a simple way to buy, sell, and store cryptocurrencies.
More from
Guides
category
Crypto Cobie Net Worth
Raoul Pal Net Worth
