Cardino (ADA) has the possibility of free earn from stacking which enables Coinbase to make profits if it keeps more coins that means that the more people who deposit ADA the greater their profits.
As for not imposing fees, it is because they want to increase trading volumes and they do not make losses. Over time it will charge fees but it will be cheap compared to other trading pairs.
Topic: Coinbase charges a fee if I convert my LTC to USDC but no fee for ADA. Why? (Read 130 times)
April 09, 2021, 11:09:40 PM
April 09, 2021, 02:35:05 PM
Edit: An additional question I forgot to ask: I'm hearing mentions on youtube comments of people complaining about ETH or LTC gas fees. Anyone know what that's about?
The fee problem only happens to ETH because it's already quite expensive these days. But with LTC, I don't see any problem with the fee and it is still a good choice if one finds to look for a good alternative for the cheap fee. ETH is the one that has what we call gas fee and LTC itself is called the same as its name for the transaction fees not gas fee.
April 09, 2021, 12:25:07 PM
I just notice something strange about coinbase. It's only strange to me because I'm a beginner, but while exploring the exchange, I discovered that if i were to convert all my LTC to USDC(and no I have no intention of doing that) that I will have to pay the exact same fee amount as if I were cashing out.
However if I wanted to convert all my LTC to another currency like Cardano or Stellar Lumens, there IS no fee.
Why is that?
Edit: An additional question I forgot to ask: I'm hearing mentions on youtube comments of people complaining about ETH or LTC gas fees. Anyone know what that's about?
Everybody talking about the transaction fee but I guess OP is asking about the trading fee not the transaction fee, every coin has minimum trading amount and certain percentage as trading fee which depends on which exchange you are trading. Sometimes you maybe given discounts on trading fee and other stuffs for promotional reasons. However if I wanted to convert all my LTC to another currency like Cardano or Stellar Lumens, there IS no fee.
Why is that?
Edit: An additional question I forgot to ask: I'm hearing mentions on youtube comments of people complaining about ETH or LTC gas fees. Anyone know what that's about?
April 09, 2021, 01:04:23 AM
@BitcoinGirl.Club is correct. USDC is running thorugh ERC20 standard protocol that is being used in Ethereum Network. If I am not mistaken, Coinbase is costing you a specific amount of ETH that will serve as the tx fee isn't it? Converting/ swapping an asset under Ethereum network similar to using Uniswap or Pancakeswap and any other DEX will cost you fees equal to ETH mempool.
Quote from: https://help.coinbase.com/en/coinbase/getting-started/crypto-education/usd-coin-usdc-faq
USDC follows the ERC20 standard and can thus be used with any app that accepts tokens based on that standard
April 08, 2021, 09:31:13 PM
Newly listed assets may be exempt from fees to incentivize trade.
Transaction fee on Cardano (ADA) network is cheap and Coinbase can waive the fee in early days after listing of this coin.Cardano transaction fee structure. The structure is effective to prevent high transaction fees on the Cardano network. It works so far.
Cardano's block details. With low transaction fee (with current low price of Cardano), Coinbase don't lose money when they do batch transactions for customers.
April 08, 2021, 11:18:05 AM
However if I wanted to convert all my LTC to another currency like Cardano or Stellar Lumens, there IS no fee.
Fees are different depending on the network the token/coin use. Take USDT token as example. If you use ERC20 means ETH network then you are going to pay a lot like over $20 to move the token from one address to another but if you use Tron netwrok with TRC20 then the fees will be less than $0.50 I guess.You need to study all these individual networks.
Edit: An additional question I forgot to ask: I'm hearing mentions on youtube comments of people complaining about ETH or LTC gas fees. Anyone know what that's about?
Not sure about LTC but with ETH there are too many projects and recent defi made ETH netwrok too crowded. As far as I heard they are working on lauching Ether 2.0 or something to fix this issue. April 08, 2021, 10:43:39 AM
Newly listed assets may be exempt from fees to incentivize trade.
Ok, thanks. However as an expriment, I took what you said and looked to see what fees would be like if I wanted to convert LTC to Bitcoin, and there is NO fee for that either.
April 08, 2021, 10:36:44 AM
Newly listed assets may be exempt from fees to incentivize trade.
April 08, 2021, 10:34:34 AM
I just notice something strange about coinbase. It's only strange to me because I'm a beginner, but while exploring the exchange, I discovered that if i were to convert all my LTC to USDC(and no I have no intention of doing that) that I will have to pay the exact same fee amount as if I were cashing out.
However if I wanted to convert all my LTC to another currency like Cardano or Stellar Lumens, there IS no fee.
Why is that?
Edit: An additional question I forgot to ask: I'm hearing mentions on youtube comments of people complaining about ETH or LTC gas fees. Anyone know what that's about?
However if I wanted to convert all my LTC to another currency like Cardano or Stellar Lumens, there IS no fee.
Why is that?
Edit: An additional question I forgot to ask: I'm hearing mentions on youtube comments of people complaining about ETH or LTC gas fees. Anyone know what that's about?
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