A DETAILED GUIDE TO COINBASE FEES
Coinbase is one of the biggest bitcoin exchanges in the world, offering users around the world a reliable platform to buy, sell, trade or exchange cryptocurrency. While the cryptocurrency exchange service on Coinbase is available to users in a number of countries, buying, selling and trading crypto is only available in the US, UK, Europe, Australia, Canada, and Singapore. If you belong to any of these countries, here’s a detailed guide about Coinbase fees and pricing to help you get started. Read on:
IS COINBASE FREE TO USE?
Yes, Coinbase is free to use for everyone. However, you may incur transaction fees while buying and selling crypto, depending on your country.
IS COINBASE AVAILABLE FOR ANDROID & IPHONES?
The Coinbase app is available on both Android and iOS. After you’ve registered with Coinbase, all you need to do is head over to the Google Playstore or the Apple Appstore and download it.
Enter your Coinbase login credentials on the app to get started. Using this app, you can access your Coinbase wallet on-the-go. You can store your Bitcoin and altcoins like Ether, Litecoin, Bitcoin Cash, Dash, and several more, all in one place. If you live in a supported country, you can use this app to buy and sell cryptocurrency.
WHICH FIAT AND CRYPTOCURRENCIES ARE SUPPORTED?
Coinbase accepts the following fiat currencies: USD, GBP, EUR, AUD, CAD, and SGD. In addition to these, Coinbase also offers varying levels of support for a whole host of cryptocurrencies. Take a look at this table to know which coins are supported and to what degree.
WHAT ARE COINBASE FEES?
Depending on your country and payment method, Coinbase fees for buying and selling cryptocurrency may differ. Coinbase charges a spread of 0.50% for crypto purchases and sales. On top of that, it charges a Coinbase fee, which is the higher of a fixed flat fee or a variable percentage fee that is determined by your country and chosen payment method. Let’s take a look at the flat fee:
- If total transaction amount <= $10, the fee is $0.99.
- If total transaction amount >$10 and <= $25, the fee is $1.49.
- If total transaction amount >$25 and <= $50, the fee is $1.99.
- If total transaction amount >$50 and <= $200, the fee is $2.99.
Below are the supported countries and their Coinbase fees according to the available payment methods:
Variable Fees by Location and Payment Method
Credit / Debit Card Buys
Credit / Debit Card Buys
|Standard Buy / Sell||Instant Buys (Credit / Debit Card only)||Bank transfers (SEPA) - in / out*|
|1.49%||3.99%||Free / €0.15|
|Buy / Sell||Credit / Debit Card Buys|
|Standard Buy / Sell||Instant Buys (Credit / Debit Card only)||Bank wires - in / out *|
|1.49%||3.99%||Free / £1|
Base rate of 4% for all transactions**
|Payment Method for Purchase/Payout Method for Sale||Effective Rate of Conversion Fee (after waiver)|
|U.S. Bank Account||1.49%|
|Coinbase USD Wallet||1.49%|
|USD Deposit Method||Fee|
|Wire Transfer||$10 ($25 outgoing)|
WHAT'S THE DIFFERENCE BETWEEN COINBASE AND COINBASE PRO?
For first-time buyers, Coinbase is an easy and attractive option, with a user-friendly interface making it simple for newbies to buy and sell crypto. However, in 2015, Coinbase also introduced a comprehensive platform called Coinbase Pro for, as the name says, the pros.
Advanced crypto-enthusiasts are treated to features like bid-ask spreads, price charts, order books, and stop limits. But unlike Coinbase, there’s no Coinbase Pro app, although it works just fine on your smartphone browser. Coinbase is an amazing option for beginners who cannot make heads or tails of a simple price chart, while Coinbase Pro is for the seasoned crypto trader.
* Note – In some cases your bank may charge additional fees for transfers between your bank account and your Coinbase account.
** The base rate for all Purchase and Sale transactions in the U.S. is 4%. Coinbase waives a portion of the Digital Currency Transaction Fee depending on the payment method you use. The effective rate of the Digital Currency Transaction Fee disclosed here is calculated as the base rate, net of fee waivers. The base rate does not apply to U.S. Dollar deposits and withdrawals.
*** Note – Your bank may charge additional fees for Coinbase credit card purchases. To avoid these fees, switch to debit card or bank account.
**** All credit cards and debit card payments are processed through Coinbase UK, Ltd, an afﬁliated company of Coinbase, Inc.