How To Avoid Coinbase Withdrawal Fee? 5 Coinbase Pro Perks

Is Coinbase Free? Coinbase offers you a free of charge wallet service. You can keep cryptocurrency and USD in a Coinbase wallet at no cost.

There are no charges of transferring crypto from one Coinbase wallet to another. Let us explore how to avoid Coinbase withdrawal fee by moving Crypto to Coinbase Pro in detail.

However, Coinbase exchange (both Coinbase and Coinbase Pro) may charge a network transaction fee if you want to transfer your crypto to an external wallet address.

These fees contain the platform usage fee and ‘miners’ fee so that they can validate your transaction on a blockchain. This amount of the fee charged may depend on transaction size, cryptocurrency, platform and method of payment. Coinbase provides an estimated value of the fee but the final fee may be different from the predicted value. 

Avoid Coinbase Withdrawal Fees
Avoid Coinbase Withdrawal Fees

Does Coinbase Charge Fees To Sell?

Yes, Coinbase incurs a fee on both purchase and sale of cryptocurrency which is charged to the users performing these transactions. It is about 0.50% of the cryptocurrency being sold.

In addition to this spread, a “Coinbase Fee” is also charged by the exchange. It can be the greater of a flat fee or a variable percentage which depends on region, payment type and product feature.

For instance, the variable percentage fee for standard sell (selling crypto tokens present in your Coinbase wallet for fiat) is 1.49%. Likewise, there are other ways to sell crypto on Coinbase and each of them have its own variable percentage fee.

You can see more details about the amount of flat fee and variable percentages here.

 

Why Does Coinbase Charge A Fee?

Coinbase charges a fee to pay for network transaction fees such as miner fees when transferring crypto off the Coinbase platform. These fees are charged on the estimation made by Coinbase.

In some cases, the estimated fee may differ from the actual value. This is due to the fluctuation in market price of that cryptocurrency.

Coinbase has also recently went public, so they will look for ways to optimize their revenue and provide value to shareholders.

 

How Much Does Coinbase Charge To Convert?

Coinbase provides the facility of cryptocurrency conversion such as ETH to BTC or USDC to BTC on their platform. A fee of up to 2.0% is being charged for any conversion of cryptocurrency on the Coinbase platform.

This margin of spread can vary from the actual value due to price fluctuations of cryptocurrency in the market at that time.

Unlike buy or sell transactions, no additional “Coinbase Fee” is charged for crypto conversions.

There is one exception for US customers i.e. the conversions starting or ending with USDC are considered as cryptocurrency purchases and sales. They will be charged with both spread and Coinbase fee.

 

Why Are Coinbase Fees So High?

It is commonly heard that Coinbase has high fees compared to other exchanges. The reason for this is that Coinbase is a pioneer in crypto business and has established itself as a best exchange platform with a huge audience. It is considered as a safest exchange as no security issues are reported up till now.

Moreover, most people find Coinbase’ service trustworthy and safe and are willing to pay more fees instead of compromising the safety of their currency.

Thanks to their reputation, they are still attracting a decent amount of audience despite charging high fees. Their reputation and trust that they have built in the crypto market is tough to compete with.

This is the reason that Coinbase fees are so high and people are giving them as they find its service safe and they have no other option like this.

 

How Do I Sell Bitcoins On Coinbase Without Fees?

You can sell Bitcoins on Coinbase without fee by transferring your funds to Coinbase Pro and then selling it from there. We all know that Coinbase fees are quite high. But there is a way to avoid these fees while selling Bitcoin or any other cryptocurrency.

Transfer your funds from Coinbase account to Coinbase Pro. Go to the dashboard of your Coinbase Pro account and place your order. By default, a fee of 0.3% on maker and taker orders are charged by Coinbase Pro.

There is no way to avoid the Exchange fee. The only way to reduce fees is to transact higher volume on the exchange and move up the loyalty tier.

 

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Are Coinbase Fees Worth It?

Coinbase is a good option for new users. However, the fees that Coinbase charges are too high than other exchanges. So it is not worth it to spend this much money on Coinbase when you have a better option i.e. Coinbase Pro.

You can head towards Coinbase Pro and avoid Coinbase withdrawal fee along with other fees to save some money on buying and selling crypto.

 

Does Coinbase Charge To Withdraw?

As mentioned earlier, Coinbase charges a spread margin of up to two percent (2.00%) for cryptocurrency conversions.

The actual spread margin charged varies due to market fluctuations in the price of cryptocurrency on Coinbase Pro between the time we quote a price and the time when the order executes.

Coinbase do not charge a separate Coinbase Fee for cryptocurrency conversions. They may charge a network fee for a few cryptocurrencies whenever the network fee goes high. This is charged by the blockchain or the network instead of Coinbase and they are simply passing it on to you.

 

Coinbase Buy Or Sell Transaction Fees

As discussed earlier, Coinbase has higher buy/sell fees compared to what other exchanges offer. There is a 0.50% fee charged by Coinbase on all purchases and sales of cryptocurrency through their exchange. The percentage may be a little higher or lower as it depends on the market price of currency at that time.

In addition to this fee, another fee known as Coinbase Fee is also charged. This coinbase fee is the greater of a flat fee (determined by the transaction size) or a variable percentage (determined by the payment method and origin). Flat fees charged by Coinbase are mentioned below:

TRANSACTION AMOUNT FLAT FEE (USD $, EUR , GBP £ )
Less than or equal to $10 0.99
More than $10, less than

or equal to $25

1.49
More than $25, less than

or equal to $50

1.99
More than $50, less than

or equal to $200

2.99

You can check out variable fees by payment methods and location here.

Let’s say you are buying $100 worth Bitcoin by making payment with a US bank account or from a USD wallet. The flat fee will be $2.99 as mentioned in the above table.

The variable percentage will be 1.49% or $1.49 according to the amount fixed for the US region. The flat fee ($2.9) is greater than the variable percentage fee of the total transaction. Therefore, your fee will be $2.9 which is the greater of the two.

 

Coinbase Flat Fee For Low Amount Crypto Purchases

For low amounts of crypto purchases, Coinbase charges a flat fee on each transaction. As mentioned earlier, there is an additional fee that can be fixed or variable depending on the amount of crypto you are purchasing.

However, if you are making a small purchase of crypto, there will be a flat fee charged to you by Coinbase.

  1. Crypto purchase of up to $10.99, a flat fee of $0.99
  2. Crypto purchases between  $11 and $26.49, a flat fee of $1.49
  3. Crypto purchase between $26.5 and $51.99, a flat fee of $1.99
  4. Crypto purchases between $52 and $78.05, a flat fee of $2.99

 

Crypto-to-crypto Conversion Coinbase Fee

Coinbase provides the facility of cryptocurrency conversion such as ETH to BTC or USDC to BTC on their platform. A fee of up to 2.0% is being charged for any conversion of cryptocurrency on the Coinbase platform.

This margin of spread can vary from the actual value due to price fluctuations of cryptocurrency in the market at that time.

There is no way to avoid Coinbase fee for crypto to crypto conversion other than to move to Pro and just pay the trading fee for buying and selling crypto. This works best for Crypto day traders.

 

Which Is Better Coinbase Or Coinbase Pro?

Coinbase and Coinbase Pro are both owned by a single parent company, Coinbase Global Inc.. Both are crypto exchanges that are built for trading, selling and buying cryptocurrency. But they offer completely different experiences to its users.

Coinbase is a simple platform and it aims at assisting new users who are just starting their journey in crypto. While Coinbase Pro is an advanced version of Coinbase suitable for professional crypto traders.

When we compare Coinbase with Coinbase Pro, they are quite similar to each other. Both offer similar cryptocurrencies, a regulated exchange and safe storage for your assets. It depends on you which one of them is better for your use.

If you are a new investor in crypto space, Coinbase is for you. You can start easily with Coinbase with its simple user interface and built in user education. In no time, you will be a crypto expert. But you have to pay high fees on Coinbase which is a thing everyone wants to avoid.

On the other hand, if you are already a professional crypto investor and want something advanced, Coinbase Pro is for you. You can access advanced trading options and advanced charts with quite low fees than Coinbase.

Avoid Coinbase Withdrawal Fees
Avoid Coinbase Withdrawal Fees

How Much Is Coinbase Pro Fee?

Coinbase offers much lower fees than Coinbase. The fee structure of Coinbase Pro is based on a maker-taker model. It is a straightforward fee model which is based on your monthly trading volume.

If you place an order at the market price and it immediately matches with another existing order, you will be considered a “taker” as you tend to lower the liquidity of the asset.

In this case, you have to pay a “taker fee”. On the other hand, if your order has to wait for a buyer to place the order that matches with yours, you are a “maker” as you tend to add to the liquidity of the asset. In this scenario, you are eligible for a “maker fee”.

The Coinbase Pro fees will become significantly low as compared to Coinbase if you are an active trader and your trade volume per month is high. You can avail one of the lowest fees in the market through Coinbase Pro.

 

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Coinbase Pro Trading Fee

Trading fee on Coinbase Pro is charged according to the maker-taker fee model. If you place an order and it fills immediately, you will be considered as a taker and will pay a taker fee between 0.04% to 0.50%.

Similarly, if your order has to wait in the order book for completion, you will be charged a maker fee between 0.00% to 0.50%.

Coinbase Pro fee is divided into several pricing tiers. Each pricing tier has its own trading volume. If you are an active trader and possess high monthly trading volume, your trading fees on Coinbase Pro will be quite low.

That’s why Coinbase Pro is suitable for professional crypto investors. Below is the detail of the Coinbase Pro fee model.

PRICING TIER MAKER FEE TAKER FEE
Less than $10K 0.50% 0.50%
$10 – 50K 0.35% 0.35%
$50 – 100K 0.25% 0.15%
$100K – 1M 0.20% 0.10%
$1- 10M 0.18% 0.08%
$10 -50M 0.15% 0.05%
$50 – 100M 0.10% 0.00%
$100 – 300M 0.07% 0.00%
$300 – 500M 0.05% 0.00%
$500M & Above 0.04% 0.00%

 

Coinbase Pro Withdrawal Fee

 

  DEPOSIT FEE WITHDRAWAL FEE
ACH Free Free
Digital Assets Free Free
Wire (USD) $10 USD $25 USD
SEPA (EUR) €0.15 EUR €0.15 EUR
Swift (GBP) Free £1 GBP

 

Are Fees Cheaper On Coinbase Pro?

Yes, trading fees are much cheaper in Coinbase Pro than Coinbase. Coinbase Pro will decrease your costs significantly with an average of 0.50% per transaction. So if you want to avoid Coinbase withdrawal fee and other fees, you can use Coinbase Pro. You can see details about the fees of both Coinbase and Coinbase Pro. 

 

Can I Convert My Coinbase To Coinbase Pro?

Yes, you can convert your Coinbase account to Coinbase Pro. If you already have a Coinbase account then there is no need of creating a new account for Coinbase Pro.

You can use Coinbase Pro from your account as both platforms are owned by the single exchange. The upgrade from Coinbase to Coinbase Pro is completely free and it demands no further security verifications. You can also transfer your holdings from Coinbase to Coinbase Pro without any fee.

To convert from Coinbase account to Coinbase Pro account, you have to just follow these simple steps.

 

STEP-I: Log in to Coinbase Pro using your Coinbase account username and password.

STEP-II: On the main screen, click the “Trade” button and then click on “Deposit” button to 

proceed.

STEP-III: After clicking “Deposit”, you will be shown all supported cryptocurrencies by 

Coinbase. Let’s say you want to transfer BTC from your Coinbase account into Coinbase Pro.

STEP-IV: After selecting cryptocurrency, you will have two options, “Crypto Address” and 

“Coinbase.com”. Select “Coinbase.com” as you are transferring crypto form your Coinbase account.

STEP-V: There will be a screen showing your available balance for transfer. You can 

select the amount you want to transfer in your Coinbase Pro account.

STEP-VI: At the end, press the “Deposit” button to complete the transfer. Your Coinbase 

account will be converted to Coinbase Pro. 

 

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Is Binance Cheaper Than Coinbase?

Yes, Binance is cheaper than Coinbase. Infact, Binance is a best alternative for Coinbase as it offers low fees and also competes Coinbase in its other services. If you are from the US, you don’t want to use Binance.Com but rather want to use US specialized website Binance.US.

It is one of the biggest exchange platforms in the crypto market. Binance charges no fees for withdrawals and deposits. There is a fee of 0.1% on all kinds of trades you perform through Binance. Moreover, if you are using Binance Coin, the fees will be reduced 50% further.

So we can see that Binance has a clear edge on Coinbase when it comes to trading fees. The fee model is also simple and understandable which is a good thing for beginners.

 

Coinbase Hack : Transfer Crypto From Coinbase To Coinbase Pro And Then To External Wallet To Avoid Coinbase Withdrawal Fee

Like high trading fees, Coinbase has high withdrawal fees. Coinbase charges its users a fee according to the estimate of network transaction fees they have to pay.

This fee that Coinbase has to pay may vary from the early estimation made. This means that the users may have to pay a higher fee than the actual network transaction fee in some cases which is not in favor of users.

Coinbase Pro does not charge any fee for transferring crypto form one Coinbase wallet to another. Since there are no fees for sending crypto from one wallet to another, you can send your funds from Coinbase to Coinbase Pro as both platforms are owned by the same company.

To your knowledge, you have just avoided Coinbase withdrawal fee by transferring your funds from Coinbase to Coinbase Pro.

Want to know how? The catch here is that Coinbase Pro does not charge any withdrawal fees for digital assets like Bitcoin. So after transferring your assets from Coinbase to Coinbase Pro, you can withdraw your crypto form Coinbase Pro to any external wallet or platform without worrying about withdrawal fees. This is a little hack to avoid Coinbase withdrawal fee. 

Avoid Coinbase Withdrawal Fees
Avoid Coinbase Withdrawal Fees

Final Verdict

To conclude, Coinbase charges a lot of fees that can eat the money that you are making. This will be more significant if you are an active trader with high trade volume. You can avoid these high fees by using Coinbase Pro.

If you are still new and unable to understand advanced trading on Coinbase Pro, you can still avoid Coinbase withdrawal fee by following the hack given above. Or you can try other alternatives to Coinbase which offer relatively less fees.

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