How to Trade in AltCoins Using Coinbase, GDAX and Bittrex in USA - And Save on Fees !
I started buying Alt Coins/Crypto Currencies few months ago. And oh man ! I felt like ripped off by the fees on Coinbase. Effective fees/ charges are 2% on buying and 2% on selling if you are using Coinbase web application. To understand the magnitude of the fees consider buying 1 BitCoin for $2500 and selling it at the same price and you end up paying $100 in fees !!!!!
And still I kept using the Coinbase application.Relatively I might be stupid as some of you might have a better way to avoid heavy fees but still some of you might be using Coinbase and paying the gigantic fees.
So if you want to save on fees, don`t use Coinbase for buying or selling rather use GDAX exchange where fees are minimum. You can thank me later for this advise :)
And the other question is how to buy the other Alt coins - open an account with Bittrex, transfer the altcoins from Coinbase/GDAX to Bittrex and you are all set to buy/sell different crypto-currencies.
All the best and wish you all the profits !
Thanks for the good article
If you use tokens bought from coinbase illegally, even if you're paying a cryptolocker ransom, they will close you down. They have to abide by anti money laundering laws, being based in the US. This is actually the reason I use Coinbase and Bittrex exclusively, but I don't buy my weed with bitcoin.
coinbase is really made more for the retail end of of BTC, try poloniex too the fees are low especially for withdrawal.
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Excellent write!