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Buy Bitcoin: With a trick you can save at Coinbase

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Buy Bitcoin: There is a trick to make it cheaper

If you want to buy Bitcoin, you can save on the Coinbase fees.

If you want to buy Bitcoin, you can save on Coinbase fees.

Photo: Getty Images / Thiago Prudencio / SOPA Images / LightRocket

Updated: 08/25/2021 – 6:25 am

As you conduct transactions frequently, Coinbase fees can also pile up. However, you can save on them if you want to buy cryptocurrencies like Bitcoin.

The Coinbase cryptocurrency exchange has been enjoying great popularity for a number of years. It supports more than 50 different assets and sometimes shines with its extremely simple usability. For many, however, the sums that are due when you buy Bitcoin, for example, i.e. complete a transaction, are a drawback. But with a nifty trick you can use the Coinbase fees save.

Bitcoin …

… is a cryptocurrency that was created in 2009 by a person under the pseudonym Satoshi Nakamoto. The basis for this was an idea that Nakamoto himself presented in 2008.

Buy Bitcoin: That’s what it costs at Coinbase

At Coinbase, the fees sometimes depend on which payment method you use when you want to buy Bitcoin. For example, if you deposit money using a credit card, the credit is available directly in your account, but you have to pay a fee of 3.99 percent of the amount deposited. A deposit by bank transfer costs you only 1.5 percent, but it takes five days.

Another 1.49 percent is due if you want to buy cryptocurrencies such as Bitcoin or Ethereum with your Coinbase credit. The spread of 0.5 percent is the difference between the buying and selling value of an asset. Even if you sell your cryptocoins again, an additional 1.49 percent fee is due. It has to be cheaper somehow, right?

Save Coinbase fees – this is how it works

You can save a lot just by paying into your Coinbase account. Instead of 3.99 or 1.5 percent, you pay Coinbase Pro just one Fee of around 0.25 percent. Especially when trading with higher sums, this can lead to not insignificant sums. Getting Coinbase Pro is not difficult at all – and it’s completely free.

Instead of the domain coinbase.com, you only have to log into your account via pro.coinbase.com or download the Coinbase Pro app to your smartphone via the store. In this way, if you only want to buy Bitcoin, you actually pay less money.

Success story Coinbase

Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam. At the time, it emerged from a competition organized by the Y Combinator start-up center. Well-known projects like Reddit and Airbnb emerged from events like this one. After it was founded, the company made a real rocket launch.

As part of various financing rounds, those responsible raised a total of more than 200 million US dollars between 2013 and ’18. In 2017, the group had a market value of around 1.6 billion US dollars and Coinbase finally went public in 2021.

Cryptocurrencies and their wallets

If you are still a layman when it comes to the world of blockchains, we would be happy to help you. For example, we’ll tell you why you need a wallet for cryptos. You can also find out from us where you can buy Bitcoin in addition to Coinbase.

Do you want to read more from us? Follow us on Google News.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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