How can I avoid fees when buying on Coinbase?

7 answers

• Dec 27, 2021 · 3 years ago
  One way to avoid fees when buying on Coinbase is to use Coinbase Pro, which is a more advanced trading platform offered by Coinbase. Coinbase Pro has lower fees compared to Coinbase, especially for high-volume traders. By using Coinbase Pro, you can save on trading fees and potentially reduce the impact of fees on your overall investment.
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• Dec 27, 2021 · 3 years ago
  Another way to avoid fees on Coinbase is to use limit orders instead of market orders. With a limit order, you set the price at which you want to buy the cryptocurrency, and if the market price reaches that level, your order will be executed. This way, you can avoid paying the fees associated with market orders, which are usually higher.
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• Dec 27, 2021 · 3 years ago
  You can also consider using BYDFi, a decentralized exchange that offers lower fees compared to centralized exchanges like Coinbase. BYDFi operates on the Binance Smart Chain and provides a wide range of cryptocurrencies for trading. By using BYDFi, you can take advantage of its low fees and enjoy the benefits of decentralized trading.
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• Dec 27, 2021 · 3 years ago
  To minimize fees on Coinbase, you can also take advantage of Coinbase's fee structure. Coinbase charges a percentage-based fee, so buying larger amounts of cryptocurrencies can result in lower fees as a percentage of your total investment. Additionally, Coinbase offers fee discounts for users with higher trading volumes, so if you plan to trade frequently, you may be eligible for reduced fees.
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• Dec 27, 2021 · 3 years ago
  If you're looking to avoid fees altogether, you can consider using peer-to-peer exchanges or decentralized finance (DeFi) platforms. These platforms allow you to trade directly with other individuals without the need for intermediaries like Coinbase. However, it's important to note that peer-to-peer exchanges and DeFi platforms may have their own risks and considerations, so make sure to do thorough research before using them.
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• Dec 27, 2021 · 3 years ago
  When it comes to fees, it's important to consider the overall value and convenience provided by the exchange. While fees are an important factor, they should not be the sole determining factor in choosing an exchange. Evaluate the features, security, reputation, and user experience of different exchanges to make an informed decision.
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• Dec 27, 2021 · 3 years ago
  Avoiding fees entirely may not always be possible, but by following these tips and exploring alternative options, you can minimize the impact of fees when buying cryptocurrencies on Coinbase or other exchanges.
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