If you are interested in trading in Bitcoins, Ethereum or Litecoin, then Coinbase will most probably be your go-to cryptocurrency exchange. Coinbase in itself is quite popular amongst users due to its user-friendly interface and easy to understand structure. Though, to begin trading you need to have some basic knowledge regarding the Coinbase fees.
Fees for each transaction varies
For each transaction at Coinbase, you need to pay an amount as fees for the service. Even though the terms and conditions pertaining to these fees are mentioned in the User agreement of the service, it can be quite confusing at times to understand how these conditions apply in different types of transactions.
How are the fees charged?
The fees charged on every transaction is a small price is comprised of variable and fixed fees. The fixed fees remain constant in all the transactions whereas the variable fees fluctuate depending on the total amount of deposit as well as the method used for making the transaction. For example, if you are buying or selling an amount of $10.99 or lower, then you will have to pay a sum of $0.99 as the fees. Regardless of the fact whether you are using US Dollars or another currency, the flat fee will be charged. Upon using debit or credit cars for the purchases or sale, you will be charged around 3.99% for any transaction starting from $78.06 and higher.
Hence, you need to be aware of fees structure before trading in Coinbase so that you don’t expose yourself to unpleasant surprises.