[ GUIDE] How to Purchase Crypto at 0% fees [Coinbase/Coinbase Pro]

Greetings all. I noticed there are a few guides here regarding Coinbase or buying bitcoin, and most are outdated, so I wanted to leave a tip for you new comers looking to get into Crypto and don't want to get destroyed by fees.

Currently. Coinbase has a fee of $1.99 every time you buy crypto. For some, this fee isn't much, but for others, It can be a turn off.


Background to the Solution: Skip if you don't care

So a lot of people overlooked this method and I am not too sure why... but let me give some background so you guys understand whats going on.

Coinbase owned a Exchange called GDAX. In fact, Gdax was around basically from the start of Coinbase, and was actually the launch site for Cryptos such as Litecoin and Ethereum. Gdax often got listings days in advance to the retail app we all know as "Coinbase", because it is best to test volume on a "traders" platform, than to launch it directly to retail buyers.

You see, Coinbase wanted to provide services to retail investors ( the avg Joe ) and institutional investors or traders ( your day traders, enthusiast, VC and Hedges, etc ). Because of the little to no competition in the retail space ( Coinbase is by far ahead of the game in that regard ), they felt like it was almost needed to offer 0% to LOW fees for trading on GDAX to compete with the various other exchanges. Gdax recently branded to Coinbase Pro to help aid in confusion and maintain their brand.


The Solution:

It is pretty simple actually. Just use Coinbase Pro. Here are some of the benefits of using Coinbase Pro.

1. On Coinbase Pro, there is a 0% fees for the "taker". What this means is that if you want to buy 1 BTC, you will pay a 0% fee, while the "giver" ( or seller ) might be charged 0.15. The givers fee is actually fairly low, but as the taker, you will never pay a fee on Coinbase Pro.
2. Coinbase and CoinbasePro wallets can be "linked". What this means is that if you have 10 BTC on your Coinbase account, you can instantly move your BTC to Coinbase Pro without paying any fees. You can also move funds from your Coinbase Pro account to your Coinbase Account instantly as well.

Let me give you guys a quick rundown of how you should use coinbase and CB Pro from here on out...

Step 1.
Buy Bitcoin ( or other crypto ) on Coinbase Pro.

Step 2.
Go to your account page and transfer your BTC to your Coinbase wallet ( The retail version, not CB Pro ). This will be free and instant.

Step 3.
Send Crypto to a friend by their email instantly with no fee.


of course these aren't on chain transactions, but It gets the job done and I hope this short guide can help some of you save money and more easily manage your funds. I personally do not keep funds on Coinbase, as it is not as safe as a hardware wallet like my Ledger, but you should be fine for the most part using Coinbase as a primary wallet.


Anyway, please leave your feedback here and feel free to message me or post here if you have Questions.

 

Bump

 

Hey, nice guide how long would this kind of payment/transaction take in time? If buy from coinbase pro

 

Step 1. Buy BTC from coinbase pro.

- How is the user getting funds ($/£) into Coinbase Pro without paying any fees?

 

Right as a active user I also don’t understand this. I get taxed every time I add funds.

 

Thanks

 

Sadly, this is outdated. Gdax (a.k.a Coinbase Pro) had indeed no fees when buying crypto, now they actually have a small fee for buying.
It is still much lower then on Coinbase, so you are still better of doing it with this method.

☆AMG

 

Should be noted if you do 20k+ yearly, Coinbase pro reports to tax agencies, while Coinbase doesn’t.

 

This is outdated btw. They changed the fees.

 

Outdated.