One thing to remember is that bank account fees for buying are at a much lower rate compared to using a card. Hi! I recommend Binance for the US and internationally. In a transaction as a maker, you will be making your own offers. Or is the crypto completely owned by the person who receives the crypto with no ties to the sender? How to fund Gate.io or Kucoin with zero fees and 6-second transfer | by Zen Monk | Crypto & Zen | Medium 500 Apologies, but something went wrong on our end. I lean toward XLM these days. Ive been charged mining fees. This article covers the most common questions people ask regarding transfers between Kucoin and Coinbase. Hi mate! The only way around incurring such cost is by trading the altcoins for a non-Ethereum based token before I cash out. I dont have a wallet because I am investing long term and dont use crypto as a currency yet. Also, the cost is the same whether you send it to KuCoin or Binance.us or Gemini. If you took all your coins and sent them to your hardware wallet, you would have all your coins (not Coinbase). Doe this mean the fee was 89% on my order and my all in cost was 0.00003137? The cheapest way to transfer from Coinbase to Kucoin, or from Kucoin to Coinbase for that matter, is to use blockchains that provide cheap and fast transfers. But Im not sure about Binance.com since its not available in the US. EB. Eventually there might be atomic swaps for free off the exchanges. So most of the time, youre better just paying the higher fee vs. swapping coins. Although, the Coinbase Pro wallet is separate from your normal Coinbase wallet. Such as, how long you've been trading and how much you've traded. Here are . your bitcoin address), and the third is sending the cryptocurrency from your KuCoin main account to your Coinbase account! Ya, thats frustrating! Sorry for the delay here holy smokes, somehow I missed your comment. Hi, I am in the UK and new to Bitcoin. The team at CaptainAltcoin.com only recommends products and services that we would use ourselves and that we believe will provide value to our readers. Hi Ryan, Thanks for your informative post as well as answering all these questions. There will be a small fee to sell the coin on Coinbase Pro but compared to the fees on Coinbase it will be a WAY better option. This is definitely a scam! This is where you borrow money to invest with. Open your Coinbase account on one browser tab and your KuCoin account on another browser tab. Hey Blake can you tell us more about this process? The regular Coinbase is more costly and complicated to understand. You should move that ETH over to Coinbase Pro and sell as a limit order. ? Can you advise on the best way to procede? I think all told Im looking at around $3K or $4K in fees. With coinbase pro, not all coins can be converted, they need to be a trading pair to do so. If you use Coinbase or Coinbase Pro you are subject to some sort of transaction fee. To start, you will need to start using Coinbase Pro. Since Coinbase is basically a cryptocurrency stock exchange or a bank, Im fairly confident to say that you cannot cancel a sell/buy and get a refund (and then fees). If you plan to make some gains like .9%, I recommend moving over to Binance since their fees are so much lower. Once done, search for the cryptocurrency that you wish to withdraw and click on the withdraw button.. I do hold some DOT on Kraken to earn a 12% reward and use Celsius for earning interest on stable coins and my BTC/ETH Im holding long term. Double-check that the information is accurate before withdrawing as errors in most cases will lead to lost funds.. This could be a good way to avoid losing some of your investment. Cheers. This verification is done through uploading a photo of your driver's license or other state issued ID: If the images are clear and match your information on file, your account should be verified in minutes. Its called Silvergate located in La Jolla. I just moved 1 BTC a week or so ago and it cost 0.0000417 BTC which was around $1.35 to move over $35K in BTC. I live in Texas and Binance isnt supporting Texas yet. The fee to transfer funds on Ethereum or USDT from KuCoin is currently $25. Hi Ryan. But for now, heres the breakdownGemini is cheaper than Coinbase and Binance is cheaper than Gemini. 2) For relatively small amounts again should I buy using debit card or stick with a bank my current problem is that bank is taking ~5 business days THANK YOU! If you plan to buy crypto with the intention of sending it to your hardware wallet, use Gemini since you can transfers coins out of the exchange for free (up to 10x per month). I had wanted to withdraw the resultant crypto to my own wallet, but as it was an ERC20 based token, the withdrawal fee amounted to 16% of the crypto I wanted to store in my wallet! However, to send/receive crypto, you do need to verify your account. Seems like Binance could have stated at some point along the line that they dont serve all states. Hi Ryan. Not much you can do about the transfer fee. Coinbase fees take a bit of time to understand. You just get charged on the base currency/coin like USD, BTC, ETH, etc. Perhaps, I can add this to my list of topics to cover in future articles for my EU followers. Having both pages open at the same time is common when transferring crypto. It appears Pro no longer exists, but Coinbase has advance trading feature with same fees and a new Coinbase One that is $29.99/mo but no fees. If you are just holding long term, Coinbase is a safe place to hold your coin (for an exchange). Id recommend getting a wallet off the exchange to send to first from Coinbase and then from that wallet send it to bitflyer. Hi Ryan I made the mistake of selling some cryptocurrency on Coinbase, which then left it as a USD balance in my account. His focus is mainly about how crypto currencies could be the key towards financial freedom not just individually but also globally. Im new to the crypto world and I used Coinbase initially. Just playing around and getting a feel of dealing. I wanted to purchase some BTC and move it to my wallet so I could then trade it on exchanges that wont accept USD. Am I better off moving it straight from Coinbase to Ledger or moving it to Coinbase Wallet first and then to Ledger? But hey, Im not a financial advisor or an accountant so youll want to work those details out with them. Coinbase Pro has the same security features as the normal Coinbase platform. Thing long and hard before making any type of financial decision! I use Gemini here and there in certain situations. Another benefit of trading with Coinbase Pro is that you have much more access to different cryptocurrencies. Hi Ryan, thanks for taking time out to answer all these questions from people. Its basically the comparison between having your money in a bank or money in your personal wallet or safe at home. I wrote to customer service, but no help from them. However, they do have it for fiat. Say Id like to transfer from Coinbase to, say, Binance. If not, let me know how I can clarify further. In the meantime, these articles might help: What is BTC: The Beginners Guide to Bitcoin How to Invest in Bitcoin: A Guide for Beginners Everything You Need to Know About Cryptocurrency Who Invented Bitcoin? Great thanks for your reply Ryan, Ill look into a hardware wallet this week. 2. I made an account on Binance US, FTX US, Crypto.com, & Kraken to test the crypto transfer fees (simulating a transfer to my ledger) and with $20 btc it seems to cost $3-4 on every app (20% fees). Sadly, theres nothing you can do besides hold and send it when fees dip. Hey Nic! Thanks. You saved me a $19 fee instead of using BTC to coinbase, XLM was almost nothing! The entire process can be completed in just a few minutes. Here we have the screen we need to finish up. Am I doing something wrong? I hope this helps! Go with Gemini instead then! Privacy Policy. Go to your Coinbase account and click the, When you land on the crypto page in Coinbase, click the, On your trading, margin, or futures account select. Now when I start the process to Buy additional crypto the only options are to withdraw money from my bank account to pay for it, instead of utilizing the existing USD balance in my Coinbase account. I generally move XLM or LTC out CB to exchanges since its super quick and low cost. These trades are completed instantly, but you will have to pay a fee between .0% and .50% for this transaction depending on how much you transact during the a given month. Seems that Gemini charges a percentage on the spread, instead the others charge based on the amount of transaction. Unfortunately, Coinbase charges for all transactions now even as a maker, you have to pay a trading fee due to an update to Coinbases terms on March 22nd, 2019. Id say most of the warnings come from an overall distrust of foreign and unregulated exchanges as a whole. All content on CaptainAltcoin is provided solely for informational purposes. Mostly likely, the most usable coins will succeed and the rest will fail. $10 Bonus (When You Deposit $100+)Download I only transferred $25 for a test and was charged $12 in fees! We will cover more the details of a taker fee and maker fee further on in this article. Are you sure that was the cost? The fee to transfer funds on Ethereum or USDT from KuCoin is currently $25. Hi Ryan, some great information here thanks for sharing your experience. Unfortunately, I am not familiar enough with SwissBorg to give you an educated opinion (being from the States). How much fees they deduct from me ? Sign up and get $10 in Bitcoin for free on Coinbase: https://www.coinbase.com/join/kameni_5w In this video you . GDAX is simply Coinbase's exchange. Hi Ryan. Hey Adam! Let me show you below. And when your purchases are smaller, there is a flat fee charged. How to transfer crypto from KuCoin to Coinbase - Quora Answer (1 of 12): Withdraw, which means transfer tokens from KuCoin to other platforms, as the sending side this transaction is a withdraw from KuCoin while it is a deposit for the receiving platform. Id recommending opening a Coinbase account and buying from them to get started its super simple. Copyright 2018 2023 Investing Simple LLC. There is no fee to transfer crypto from Coinbase to Coinbase Pro. But while you're still learning about those parts of the service, it's also important to understand its spending limits. If youre trading small amounts, Gemini.com might be your best bet. Your submission has been received! BTC has multiple trading pairs so if you want to cash out, I would recommend the USD pair. This will pop up another page for you to make a selection. This clearly isnt viable in future. I have a small amount of bitcon (.0289BTC) and a small amount of Ethereum(.213 ETH). Just so you can have a clear understanding of what to expect, you should speak with your bank to find out if those are fees you'll ever need to worry about when buying digital currency. If you want to use SimpleSwap.io, youll need to have a Theta wallet ready. First $10 move cost me $1.15 (net $8.95 to wallet). Here, check the address, the coin, the network, and the amount, basically everything you have written so far. I appreciate your work. Keep in mind that this list may change over time, so be sure to stay up-to-date on the latest prices. I recommend the Ledger Nano Xsince it's so easy to to use and very safe. Personally, Im just about ready to sell some coins I bought last year and take some profits so I have a decent amount of long-term gain coins in my Binance.us wallet (that I moved from my ledger for a pretty fee) right now with limit sells. ETRADE stopped charging fees to buy or sell stocks. From my understanding, Coinbase doesnt charge a fee to transfer to a different Coinbase wallet, BUT you do have to pay the network fee to withdraw from Coinbase and send to a wallet off the exchange. I appreciate it! Setting up a new Coinbase account is simple: When creating a Coinbase account, you are actually allowed to skip verification. Dont really want to leave $100 worth of Bitcoin in Binance. I thought Limit Orders were fee free. I would do all crypto buying/selling/trading at Binance.us due to their low fee model. For US Residents only. Pick the same network we will use on Coinbase as well, be careful on selecting the correct network. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Odds are in favor the fee's are quite low anyways (or better than taxes)! I have some ETH on CB and I want to move it to Binance but I dont want to eat that fee right now. service phone number? You will need to communicate with your bank to find out what your limits are if you have them. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood. Again, thanks. I couldnt find that particular detail in their terms anywhere. To execute a transfer from KuCoin to Coinbase, you will follow the following 4 steps: Open a Coinbase Account (Use our link here for $5 FREE Bitcoin) Verify your Coinbase Account Gather Necessary Information Send Crypto from KuCoin to Coinbase Let's take a look at each of these 4 steps for more information. The first way is to buy and hold KCS coin (KuCoin's own token). Itll probably more expensive to use Coinbase to withdraw, but it will be the fastest. As you can see its around 0.00516600 ETH to move that out which is about $9 at the current price. When it comes to trading fees, Coinbase Pro is the way to go. We've got some tips and information you're going to need. The maker/taker fees are one of the lowest in the industry right now when you have Active Trader enabled. Tom. Thank you! How to Transfer Coins from Coinbase to Ledger Nano? Coinbase is the simplest to use though. Also, Ive been looking at SwissBorg. When youre ready to sell, you just send that coin back to your preferred exchange with a great fiat off-ramp and then sell it. This may sound crazy considering the news recently, but XRP is the cheapest and fastest way to transfer between exchanges (in the short term). How To Transfer Ethereum From An Exchange (Coinbase, Binance) To MetaMask? But the ledger will say the actual costs Coinbase paid vs. what you actually paid. For more information, please read our, How To Transfer From KuCoin To Coinbase 2023, How To Transfer Crypto From KuCoin To Coinbase, 3. How and where should I convert them into Bitcoin? Hello Ryan, I see you were charged $1.35 to move 1BTC out of Coinbase. It all depends on how much you trade and how much you move around your coins. I dont use crypto currency for anything yet. Without a question if you plan to trade and buy/sell more crypto! Personally, I use Cryptosteel cassette/capsules for that. My name is Javier Medina I loved your article it has such a valuable information thank you very much for sharing. Hi Ryan, 2 things. I believe though with Binance.com you can use different international banks to on-ramp and off-ramp. Maybe you've been sitting on a really great idea for a long time, waiting for the right [], 10 Best Investing Apps For Beginners In 2023. Tether's issuer claims that USDT is backed by bank reserves and loans which match or exceed the value of USDT in circulation. This is especially true with things like with spread fees since your trades will be happening much faster. There will also be a fee to sell the coin, but NO fee to withdraw your cash to your bank account. I could basically buy on CB Pro, wait the hold then transfer to CB for free, then transfer back to CB Pro (also free) if I wanted to eventually sell? Since Robinhood doesnt allow you to transfer to other platforms. With Kucoin, you can keep it on their exchange until you do get yourself a wallet. This includes bank accounts, debit cards, and credit cards. My muddled understanding of Coinbases terms is that they estimate transaction costs and include them in the network fee. Affiliate partners cannot pay CaptainAltcoin to guarantee favorable review or higher ratings on the website. On KuCoin, go to your Main Account and click on " Deposit " next to the selected coin, in this case, Tether (USDT). If you plan to buy and HODL, I would get it off the exchange onto a hardware/cold wallet. I used to always send from exchanges to my wallet first and then to the next exchange but lately, Ive been going from exchange to exchange with no issues. all works and much appreciated. Or Binance just charges you a flat fee per trade. Just hit me up whenever you need help. You will simply log in using your same username and password. Thats the fee that Coinbase paid to transfer your coins to your Ledger. I started investing in cryptocurrency in early 2014. And have a completely unique/complicated password. Hey Ryan! However USDT-SOL deposit is available. It is not an offer to buy or sell any security, product, service or investment. We are going to cover transaction fees, withdrawal fees and how to get lower fees to get the most out of crypto trading. Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount. Youll always need to consider the fees when determining profits. I stick with Binance.us and Kraken. Flip back over to your KuCoin tab. Bitcoin has a semi-high transfer fee of 0.0005 BTC ($15 at the time of writing) if youre looking for something a bit cheaper than Ethereum. Coinbase Pro and Coinbase differ in fee structures. Coinbase doesnt have any deposit fees for crypto. This fee structure shows the costs that Coinbase charges when you buy and sell. WHY DO YOU HAVE TO PAY TAX BEFORE YOU CAN WITHDRAW. 1.49% is the same as Coinbase correct? You can't use a credit card when buying and selling. If you sign up for Coinbase using our button above, you will get $5 worth of free Bitcoin! I currently have $150 of Stellar Lumens I'd like to send over to KuCoin. Im accumulating BTC and purchasing a set amt daily. Best Coinbase Alternatives for Buying Cryptocurrency by CryptoRyancy, https://pro.coinbase.com/wallets/deposits, https://www.cryptoryancy.com/the-difference-between-gdax-vs-coinbase-pro/, https://support.gemini.com/hc/en-us/articles/360055204691-How-do-I-enable-Gemini-ActiveTrader-, https://www.youtube.com/watch?v=auynRFS9uLQ, What is BTC: The Beginners Guide to Bitcoin, Everything You Need to Know About Cryptocurrency, Who Invented Bitcoin? Get started Another cool feature that Coinbase (and some more exchanges & wallets) offers is the ability to choose your transfer fee. So I wouldnt think twice about it as long as you have the seed stored and saved somewhere SUPER safe. Hi Ryan greetings from Korea. Hey Shawn! Kucoin was founded by a group with a passion for the blockchain who had already built up strong reputations at industry giants, such as GF Securities, Ant Financial, Youling, Jianbang Communication, and iBOX PAY. Theres no fee to own BTC just fees to trade and transfer BTC. Binance does not seem to allow fiat purchases. I believe charges are double? if say I only had $500 in my portfolio..all in litecoins say,doesnt it cost me more then I would averagely profit in an average day just in fees alone? Obviously, you must also select cryptos that are available on both Kucoin and Coinbase.Some good examples of this are Solana (SOL), Cosmos (ATOM), and Litecoin (LTC). 1 Free Fractional Share Worth $5 To $200, 18 Companies To Choose FromDownload Hello Ryan, Thank you for this blogI am new to crypto so this was my first transfer of a crypto from coinbase to my NanoS using Ledger Live. Congratulations! Currently, Coinbase has all your coins. How can I lower this if it is a percentage because thats is a large percentage just to send $180 worth of crypto. Am awaiting to be approved on a few other exchanges to see how they are ( binance taking forever). Should I expect the $65.30 to be deducted from my account some time in the future? Sadly, theres nothing you can do besides hold and send it when fees dip. For example, I just moved 1 BTC the other day and it cost 0.0000417 BTC - which was around $1.35 to move over $35K in BTC (1/11/2021). With Coinbase & Coinbase Pro, there isn't a direct withdraw fee. I am mostly concerned about fees not time. DigiByte DGB 4. I purchase BTC, ETH, USDC, and SOL weekly in $10-20 increments each. Then, there is no way to get the remaining amount out of Coinbase. I started to use Binance, because of the lower transaction fees, however I ran into an issue, which I will explain here. You should be able to just buy with the USD in your account. Am I correct in thinking that where you have mentioned USD and when selling, being in the UK would I just take these references and just change the methods or thinking to GDP? Hey Ryan, looks like you actually cannot send from coinbase to coinbase pro. It can be done within a few clicks of a button. In fact, there's a fee for every single transaction! Free $10 Bonus When You Invest $5+Download. Before you can transfer from KuCoin to Coinbase, you will need a Coinbase account. I can help because Ive been in your shoes before! The other option is to move over to Gemini because you can withdraw for free up to 10x per month. Sign up with Robinhood, deposit any amount and get 1 Free Stock. It is the main go-to for people who like to invest in cryptocurrency. There are a few extra steps while using Coinbase Pro, but it isn't much more difficult than the standard version you are already used to. 1. Normally I have been exchanging DKK to EUR for buying crypto. Beware when choosing the network which you want to use for sending crypto. How To Transfer Crypto (BTC, ETH, ADA etc) From Binance to Uphold? How Much Invested To Retire Off Dividends, Top Real Estate Crowdfunding Platforms For Accredited Investors, Top Real Estate Crowdfunding Platforms For Non-Accredited Investors, Open a Coinbase Account (Use our link here for $5 FREE Bitcoin), Download the Coinbase app (use this link for a free $5 worth of Bitcoin), 1 Free Fractional Share Worth $5 To $200, 18 Companies To Choose From, Win Up To 12 Free Stocks Worth Up To $3,000 Each, Win Up To 5 Free Stocks Worth $3 To $2,000 Each, A new page (popup on the desktop version) will appear with a, Beneath the address, you will see a cryptocurrency, Tap the box to select the crypto you wish to transfer, You will use this once you initiate a transfer from KuCoin, Select the cryptocurrency you are wanting to transfer, A new screen will appear that warns the user to ensure the same crypto network is being used for the transfer location, If desired, you can type in a remark or comment to easily remember the transfer in the future. After reading a bunch of reviews I am thinking of using Coinbase. If you plan to buy more than $100 worth, this link will earn you and me both an extra $10: Sign Up Here. Exactly! Account deleted, Got an email that said the acc was deleted successfully and that they could no longer do business with her.She tried C.S. He worked as junior content editor in various ad agencies and gradually moved into freelancing. If I sold everything I was trading on Robinhood, then waited for that money to land in my bank account (which would include all profits) and then instantly buy back that same amount on Coinbase, would I have any tax obligations? Hi Ryan.Good stuff you are putting up.Have BTC in Coinbase wallet.Cannot send to my Bitflyer. Coinbase Pro does not offer card purchases, so naturally you will avoid those fees. I also use their direct deposit feature so it auto buys for me whenever I get paid or whatever. Dash DASH 8. Is there a good crypto for dummies tutorial out there. Hey Ryan, Can you make a comparison on fees between Gemini and Coinbase (or Binance.us). Afterward, click on Continue in order to see the confirmation page. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Robinhood has $0 account minimums. You will face the withdrawal form. On the other hand, there are transaction fees. For more information, please see our I have been interested in Bitcoin since way back in the day when it was gong for $5,000, now at 11X that amount I am really wishing I pulled the trigger. Now you say there is a fee to own Bitcoin, but what if I buy it through ETRADE, I have funds in my online trade account and it would simply purchase it from there correct? I need step by step advice to get to understand all the jargon surrounding crypto. While Coinbase's fees are pretty high in comparison to other brokers, so it's nice to avoid paying them if you can. I have been buying crypto through Coinbase Pro for just over a year now my portfolio consists mainly of ETH but I also have shares in 6 or 7 other listed companies on Coinbase Pro.
