Jurassic
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| Total Posts: 276 |
| Joined: Mar 2018 |
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What are you paying these guys 4-6% a transaction for?
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goldorak
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| Total Posts: 1065 |
| Joined: Nov 2004 |
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| To keep on stirring up the air? |
If you are not living on the edge you are taking up too much space. |
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nikol
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| Total Posts: 850 |
| Joined: Jun 2005 |
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4-6%? where did you get those? special offer? :)
(I did not look on purpose, just first pop-up example)
https://support.pro.coinbase.com/customer/en/portal/articles/2945310-fees |
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Jurassic
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| Total Posts: 276 |
| Joined: Mar 2018 |
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Coinbase is "3.99% fees on credit and debit purchases".
What is the point? |
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Cause fiat's going to zero bro! Or BTC is going to infinity. Either way I'm happy to pay them fees to be able to dump my useless $$$
On a more serious note, what you're looking at is the sort of retail front end to Coinbase. Behind that is the actual exchange, https://pro.coinbase.com/. Fees there start at 0.5% taker fee and 0.5% maker fee. Which is still heinous, I think it used to start at 0.3% taker and zero fees for maker? But some ways away from 4%. As another data point Kraken starts at 0.16% maker and 0.26% taker. And BitMex is 0.025% rebate and 0.075% taker, which I believe is about the same across most crypto derivatives exchanges (that I've seen so far).
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nikol
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| Total Posts: 850 |
| Joined: Jun 2005 |
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I see depo/withdrawal fees of 15 euro-cents for SEPA.
USD and GBP is more expensive. Sorry for you.
If you move cash with credit/debit cards, then ask your bank and, please, don't blame the crypto kitties.
PS. maybe I am missing something. Cannot find your 3.99% |
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jslade
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| Total Posts: 1195 |
| Joined: Feb 2007 |
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The 3.99% is for buying crypto retail through Conbase. It's for people who use bitcoin ATM machines so they can buy muh dope vape pens on the dork web.
The major exchanges used to have 0% maker fees for reasonable volume. Now it's only 0% on high volume, which has funny microstructure side effects. FWIIW Gemini is better. Oh yeah, never, ever use Kraken; it's 10 people in a boiler room, and their order book is literally a REST-API. Not that this makes them much different from many non-dollar denominated exchanges, but they're creepy and broken. |
"Learning, n. The kind of ignorance distinguishing the studious." |
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Jurassic
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| Total Posts: 276 |
| Joined: Mar 2018 |
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"If you wanted to purchase bitcoin with a credit or debit card, we would charge a fee of 3.99% since the variable percentage fee is higher than the flat fee."
@nikol see https://support.coinbase.com/customer/en/portal/articles/2109597-coinbase-pricing-fees-disclosures
Surely though at the start you need to swap fiat money for bitcoin before you can use the exchange?
@jslade how can you work out their tech stack?? |
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@jurassic @jslade how can you work out their tech stack??
once you have used crypto exchanges, compared and traded them fair a bit, you just know. I guess what jslade meant is that their tech stack is based on some crappy nodejs server, some random github orderbook implementation, possibly the worst and slowest out there and some other nonsense crap that a (web??) dev with zero finance background would use and deem appropriate. |
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nikol
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| Total Posts: 850 |
| Joined: Jun 2005 |
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I second campo_de_ems.
Trading crypto implies connection to multiple exchanges, so you know...
@jurassik As I guessed. Don't use credit/debit card. Point. |
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Jurassic
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| Total Posts: 276 |
| Joined: Mar 2018 |
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| @nikol how else can you make the initial purchase? |
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nikol
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| Total Posts: 850 |
| Joined: Jun 2005 |
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How? Once again. I am puzzled.
Bank transfers (SEPA) to Coinbase is FREE
Withdrawal from Coinbase to your bank account = 15 euro-cents for SEPA
(see table at the bottom of the page through your link)
Otherwise, do it in the most expensive way, for example, via LocalBitcoin in Venezuela or Iran. You might get there hidden charge of as high as 20%.
There is some other way - get hired in bitcoin industry and charge salary or fees in bitcoins. Simple ! |
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Jurassic
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| Total Posts: 276 |
| Joined: Mar 2018 |
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@nikol my bad. I didnt read this well.
Kraken's valuation is $4bn. You guys need to get into crypto exchanges. It frustates me I cant build it. |
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