Cryptocurrency | How to Avoid Paying Coinbase Transaction Fees
This is my quick guide on how to use buy Bitcoin/Ethereum/Litecoin without paying Coinbase transaction fees. I'll try and break this down in 4 simple steps, but if you have any questions, feel free to ask.
1. Deposit funds into your USD wallet via the app or website.
For traditional deposits, you may have to wait 5-7 days for this transaction to clear. There is an option to instantly Wire Transfer, but I believe there is a flat fee that goes along with it (haven't tried it yet though).
2. Transfer deposited funds to your GDAX account (this is free).
GDAX and Coinbase fall under the same marketplace, the only difference is GDAX offers more advanced trading techniques and the ability to purchase WITHOUT fees (as I am about to show you). Once in GDAX, click on the deposit button.
3. Place a Market Limit order at desired rate.
This is the key to avoiding the transaction fee. You should receive 100% of your BTC-USD value.
4. Once order fills, you will have acquired BTC/ETH/LTC paying $0.00 in fees.
This works as of the time and date of my post, but I can't guarantee it will last forever. Hope this helps you guys. I've probably paid $75+ in fees. I wish I would have known earlier what a little patience and planning could save me.
If this post helped you, upvotes and re-steems are more than appreciated. Have a beautiful day!
Cheers!
Bradford Tennyson
You're missing a step. You need to click on 'Advanced' under 'Limit Price' and check the 'Post Only' check box as well. If you don't do this, you may still get charged fees, depending on your limit price and the timing of things.
Oh wow, I'll have to look into this. Thanks for the heads up! What does the Post Only function do?