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QUESTION

What are the transaction fees associated with using Coinbase?

ANSWER

1.3K

Coinbase, a renowned digital currency exchange, structures its transaction fees based on the payment method, currency, and transaction amount. For transactions involving cryptocurrency purchases and sales, Coinbase employs a maker-taker fee model that varies depending on the user's trade volume in USD over a 30-day period. Fees often start around 0.50% for both maker and taker trades. Smaller transactions typically incur a flat fee which is determined by the amount transacted - the smaller the transaction, the lower the fee. Regulatory fees also apply in certain regions. Moreover, standard methods of payment such as debit cards, credit cards, and PayPal transactions feature additional fees when used for purchases or withdrawals, and these fees can be higher than bank transfers like ACH or SEPA. It's essential to note that transferring funds between Coinbase accounts is usually free, but withdrawing to external wallets is subject to network fees determined by blockchain congestion at the time of the transaction. Users should always review the current fee schedule directly on Coinbase's website or within their app for up-to-date and detailed information since fee structures may evolve based on market conditions and regulations.


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03.21.2024
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