How you’re losing money to insane fees

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Coinbase is the easiest place to buy, sell, and manage your cryptocurrency portfolio.

Any reference to Coinbase in this article is synonymous with coinbase.com.

Coinbase is the #1 U.S. based cryptocurrency platform. It is the safest option for U.S. customers as your USD wallet is FDIC-insured up to $250,000.

If you plan to trade a lot, you should verify your identity to ensure that your deposit and withdrawal limits are higher. It’s better in the long run, even if you don’t plan to invest a lot of fiat.

Coinbase Pro offers individuals the ability to trade a variety of digital assets on a secure, insurance backed platform.

Any reference to Coinbase Pro in this article is synonymous with pro.coinbase.com.

Formerly known as GDAX, Coinbase Pro is Coinbase’s official trading platform and exchange for cryptocurrencies available on Coinbase.

Tip: Your Coinbase and Coinbase Pro accounts share the same credentials.

I view Coinbase as more of a Bank, whereas Coinbase Pro is an asset trading platform. So if you are not planning to trade certain assets, leave them in Coinbase. If you want to trade some assets, transfer them over to Coinbase Pro and start trading.

Coinbase Pro offers a great deal of benefits over buying and selling on Coinbase, including:

  1. The fees on Coinbase for buying and selling are extremely high. They range from $0.99 to $2.99 and allow credit card purchases with a 3.99% fee.

2. The fees on Coinbase Pro for trading are extremely low. They range from 0.05% to 0.25%.

3. New assets get listed on Coinbase Pro before Coinbase.

4. Coinbase Pro has live trading data available.

5. For all the coders out there, Coinbase Pro’s API is extensive.

6. If you want to send assets to another exchange outside of Coinbase and Coinbase Pro, sending assets from Coinbase Pro is FREE. No transaction fees. No network fees. Be aware that it might take a bit longer to show up on the blockchain if you use this method.

Easy! Any of your wallets on Coinbase also exist on Coinbase Pro. Simply deposit into your wallets on Coinbase Pro to transfer your assets from Coinbase. Follow these steps below to transfer your assets to Coinbase Pro:

  1. Log into Coinbase Pro
  2. Go to My Wallets (top-right corner)
  3. Click on a wallet to deposit into, e.g. Bitcoin
  4. Click Deposit (see image below for reference)
  5. Select the COINBASE ACCOUNT tab
  6. Type in the amount you want to transfer from your Coinbase wallet and click Deposit
  7. Start trading on Coinbase Pro!
Deposit Button for a Coinbase Pro Bitcoin Wallet

I recommend depositing fiat into your Coinbase USD Wallet, and then transferring it over to Coinbase Pro to start trading. Otherwise, you will be paying high fees on Coinbase when you buy any crypto with fiat.

Coinbase is the safest U.S. cryptocurrency storage platform, and it’s where you should hold your crypto.

Coinbase Pro is the safest U.S. cryptocurrency exchange and trading platform. It’s where you should be trading your crypto.

In order to trade fiat for crypto, the best method involves depositing fiat into your USD Wallet on Coinbase, and transferring it to Coinbase Pro.

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