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If you want to invest in cryptocurrency, Coinbase* is a good place to start as one of the most popular crypto platforms worldwide.
In Germany, over 70 cryptocurrencies can currently be traded there.
There are sometimes costs involved, for example 1.49 percent per transaction.
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Coinbase is one of the best-known and most popular crypto platforms worldwide. It allows users to buy, sell and trade various cryptocurrencies such as Bitcoin, Ethereum, Litecoin and many others. In addition to user-friendliness, the wide range of supported digital assets – over 70 cryptocurrencies can currently be traded in this country – is one of the most important aspects for users. But what about the provider’s fee structure? Which ones for what? Coinbase fees You can find out more here.
Coinbase Fees: These costs apply
First of all: The account service for cash and hosted cryptocurrencies is free at Coinbase. This means you can store cash and supported cryptocurrencies without incurring any costs.
In general, there are the following costs you may incur when using Coinbase:
Transaction and trading fees Spread Buy now via debit card Payout
An order fee of 1.49 percent of the total amount is due per transaction. The spread is at least 0.5 percent depending on the trading volume. Deposits via SEPA transfer are free at Coinbase. There is a 3.99 percent fee for immediate purchases with a debit card and 0.15 euros for withdrawals. You can read further explanations about Coinbase fees and costs below.
Coinbase transaction fees
Transactions of cryptocurrency outside of Coinbase generate fees, which Coinbase covers. You will incur transaction fees if you as a user send cryptocurrencies from your Coinbase wallet to another, external wallet. This fee is based on the estimate of prevailing fees in the network. The fees vary depending on the network load and the respective blockchain. For example, transaction fees for Bitcoin transactions can fluctuate depending on the load on the Bitcoin network. The exact fees will be disclosed at the time of the transaction.
Bundling transactions creates certain efficiencies, which may result in the total amount of network fees paid by users potentially differing from the amount Coinbase actually pays.
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When depositing or withdrawing fiat currencies, a fee may apply depending on the payment method chosen. Here you should pay attention to the relevant information before the transaction. Alternatively, immediate purchases can also be paid for with a credit card or debit card, although a 3.99 percent fee applies.
Coinbase fees for trading and spread
Trading fees are due if you as a user want to buy, sell or exchange cryptocurrencies on Coinbase. These fees vary depending on the payment method chosen, order size, market conditions, jurisdiction and other costs incurred in processing the transaction. Before completing the transaction, you can see the fees in the trading preview.
The “spread” at Coinbase refers to the difference between the buying and selling price of a cryptocurrency. This difference essentially represents the profit that Coinbase makes from trading cryptocurrencies.
If you want to buy a cryptocurrency through Coinbase, you will usually pay a slightly higher price than the current market price. On the other hand, when you sell a cryptocurrency through Coinbase, you will receive a slightly lower price than the current market price. The difference between these two prices is the spread.
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Coinbase charges this spread as part of the fee structure for trading cryptocurrencies on its platform. It is important to note that the spread may vary depending on the liquidity of the market, the volatility of the cryptocurrency, and other factors.
Tipp: In some cases, the spread on Coinbase can be higher compared to other trading platforms, meaning you may pay more when you buy and receive less when you sell. It is advisable to compare the spread and fee structures of different trading platforms to find the most suitable option for you.
The so-called “Advanced Trade” does not include a spread because you work directly with the order book.
Crypto platform scores with transparency
It is important to note that Coinbase is transparent about its fee structure and offers users the opportunity to review fees before making a transaction. You can also see the exact Coinbase fees for your transactions on the website and in the mobile app before you carry out them.
Despite the fees, Coinbase offers its users a safe and reliable cryptocurrency trading platform. The platform has advanced security measures to protect users’ assets and offers a user-friendly interface that allows even beginners to buy, sell and trade cryptocurrencies safely.
In summary, Coinbase fees vary depending on the type of transaction, but the overall structure is transparent. Users should check the fees before each transaction and make sure they are comfortable with the costs before making them. With the wide range of supported cryptocurrencies and user-friendly platform, Coinbase remains one of the most popular options for buying and trading cryptocurrencies worldwide.
Notice: Artificial intelligence was also (but not exclusively) used to research and/or create this article. All information has been carefully checked by an editor.
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