Topic: coinbase fees (Read 1772 times)
Yeah, they have to pay the miners fees, so the transaction goes through smoothly without a delay. Some services also take a small fee themselves, so people don't abuse their system and withdraw 500 times a day.
If they dont charge fees then where do they get profit from
Those are miner fees, they get profit from charging of US deposits and buying and selling.
Yeah, I guess such small fees won't really get their business going. They will want to depend on relative fees, that adjust according to the amount of BTC you buy or sell there. A fixed amount per transaction doesn't seem to make much sense! They pay a miners-/transaction fee so the transaction goes through quickly!
If they dont charge fees then where do they get profit from
Those are miner fees, they get profit from charging of US deposits and buying and selling.
I have a question about coinbase fees, They always charge me 0.0002 BTC for every transaction i send, Is this the bitcoin fees because they claim its bitcoin fees but not their fees? If it is true how come freebitco.in send 5460 Satoshi? Today i had to send 5000 satoshi to a DR and they charged me 20000 satoshi for just sending it? Any other wallet with low fees or this fee is applied by bitcoin?
They may keep half of that transaction or maybe they pay it in whole to the miners (in form of a transaction fee). I don't know the exact structure of Coinbase's fees! I guess faucets and freebitco.in may send multiple transactions to several receipients at once, and thus save on the transaction fees? Could this be right?
If they dont charge fees then where do they get profit from
Exchanges make profit for trading fees mainly, and also from fiat going in and out. Without charging the customer for withdraw fees, they may get more customers to trade.
And since they are relatively new, it's more important for them to build trust and loyalty from customers rather than being immediately profitable, so not charging withdrawal fee is a good choice.
They don't charge withdrawal fees because they want customers moving BTC in and out of their account (as well as storing their BTC in their for daily and non-daily transactions, which is where Coinbase Vault comes into play). This BTC movement increases the customers' likelihood of using Coinbase to buy/sell BTC. It has nothing to do with reputation and I would consider them pretty damn well-trusted in the community. They're making more money by not charging a withdrawal fee than they would otherwise.
well transaction fee is 0.0001 in most sites, so they are charging up like twice for you.. anyway most online wallets or exchanges do that.
They are really not "charging" this but rather giving the amount to the miners. They are essentially forcing you to pay to ensure your TX will be confirmed quickly. The larger your TX fee is, the greater the incentive miners have to confirm your TX in their block. 
well transaction fee is 0.0001 in most sites, so they are charging up like twice for you.. anyway most online wallets or exchanges do that.
They are really not "charging" this but rather giving the amount to the miners. They are essentially forcing you to pay to ensure your TX will be confirmed quickly. The larger your TX fee is, the greater the incentive miners have to confirm your TX in their block. 
well transaction fee is 0.0001 in most sites, so they are charging up like twice for you.. anyway most online wallets or exchanges do that.
I was under the impression that coinbase covered the miners fee in most cases. It is possible that this has recently changed, although it was the case in the past.
The fee the OP is referring to is the fee that is paid to the miners for confirming the transaction on the network. It is what gives the miners an incentive (apart from the block subsidy - currently at 25 BTC per block) to mine (and secure) on the network.
The fee the OP is referring to is the fee that is paid to the miners for confirming the transaction on the network. It is what gives the miners an incentive (apart from the block subsidy - currently at 25 BTC per block) to mine (and secure) on the network.
its called a miners fee, for finding your coin.
its universal as long you use bitcoin.
its universal as long you use bitcoin.
If they dont charge fees then where do they get profit from
They also have a "vault" service which, I believe, charges fees.
It does cost more they claim it adds even more security to your account. You would have to sign up for it so you would know about the extra fees.
If they dont charge fees then where do they get profit from
Exchanges make profit for trading fees mainly, and also from fiat going in and out. Without charging the customer for withdraw fees, they may get more customers to trade.
And since they are relatively new, it's more important for them to build trust and loyalty from customers rather than being immediately profitable, so not charging withdrawal fee is a good choice.
If they dont charge fees then where do they get profit from
Exchanges make profit for trading fees mainly, and also from fiat going in and out. Without charging the customer for withdraw fees, they may get more customers to trade.
They charge a small transaction fee and a small bank deposit fee. Think the total is less than 1-2% of your transaction.
If they dont charge fees then where do they get profit from
They also have a "vault" service which, I believe, charges fees.
They charge a fee when you make a US$ deposit to buy bitcoin.
If they dont charge fees then where do they get profit from
That's weird, my Coinbase wallet doesn't charge me any fee when I send, and they actually pay them themselves.
Are you sure they don't charge you any fee? I think this happens when the transaction in low btc value. I had a experience like this.
That's weird, my Coinbase wallet doesn't charge me any fee when I send, and they actually pay them themselves.
The buy and sell fee are usually less than 1 dollar based on my experience.
Jump to: