Coinbase is expensive. How much exchange fees is OK? - page 2.

Moon Assist

newbie

Activity: 31

Merit: 0

Quote from: zero9119 on March 27, 2018, 03:01:50 AM

The Coinbase transaction fee is not too high and you can trade internally on Coinbase without any charge. I also regularly use Coinbase to store bitcoin and I am quite happy about its quality. Coinbase is a long and prestigious trading site, I quite trust it.

Totally agree with your opinion. When looking for other solutions you see even higher prices or websites that you can't trust. Imho Coinbase is a perfect trading platform with normal fees. Over time I believe prices will drop as mass adoption is coming. Besides that they need to stay competitive, new platforms are popping up rapidly. So to keep their advantages they will probably lower their prices a little bit.

zero9119

full member

Activity: 462

Merit: 100

The Coinbase transaction fee is not too high and you can trade internally on Coinbase without any charge. I also regularly use Coinbase to store bitcoin and I am quite happy about its quality. Coinbase is a long and prestigious trading site, I quite trust it.

Arwinkim

member

Activity: 266

Merit: 10

Coinbase has been around for a long time. They are very popular and professional among investors, no wonder they charge expensive fees. But 0.2% fee seems to considerable for me to start with. Try binance, you can buy their BNB to get 50% off fee.

hodlftw

full member

Activity: 326

Merit: 104

Santa Coin

Quote from: Purplefinder on March 26, 2018, 07:27:54 PM

Quote from: mekusproj on March 26, 2018, 06:32:58 PM

I have observed increase in fees charged by cryto wallets and exchanges which were previously very low and sometimes even free. For me, the fees charged now are exorbitant and discourages small amounts of transactions to be carried. The fees in these case might totally wipe out small amounts.

what would be a fair amount in your opinion?

Right now for exchanges probably 10-25k satoshi would be good. The only reason they do 50k+ and most do 100k satoshi is because they want to make sure the transactions go through and customers don't complain. Completely unnecessary and it just raises the amount up for the rest of us. I have been transacting at 10-20 cents lately, that number would be 1-5 cents if exchanges did it correctly imo.

Purplefinder

newbie

Activity: 45

Merit: 0

Quote from: mekusproj on March 26, 2018, 06:32:58 PM

I have observed increase in fees charged by cryto wallets and exchanges which were previously very low and sometimes even free. For me, the fees charged now are exorbitant and discourages small amounts of transactions to be carried. The fees in these case might totally wipe out small amounts.

what would be a fair amount in your opinion?

Purplefinder

newbie

Activity: 45

Merit: 0

Quote from: bill gator on March 26, 2018, 04:39:54 PM

Quote from: Purplefinder on March 25, 2018, 09:57:22 PM

Ultimately, complete DEX will be workable if there is still a way to obtain a successful resolution on an error that happened outside your control. would you agree?

What sort of errors that are outside of my control are likely to occur on a DEX? The protocol(s) should have enough security and proof built into them that errors are prevented. Centralized authorities to reach resolutions are only necessary if there is dispute about what has been exchanged. This can be avoided altogether if done properly. I believe I disagree, but I am willing to hear more specifically what kinds of errors and resolutions you speak of.

risk of bugs in smart contracts, or bugs introduced through future upgrades: as a user, if you get affected on a trade, how do you resolve this on a Dex in the current prevailing support system?

mekusproj

newbie

Activity: 56

Merit: 0

I have observed increase in fees charged by cryto wallets and exchanges which were previously very low and sometimes even free. For me, the fees charged now are exorbitant and discourages small amounts of transactions to be carried. The fees in these case might totally wipe out small amounts.

bill gator

legendary

Activity: 1372

Merit: 1123

Quote from: Purplefinder on March 25, 2018, 09:57:22 PM

Ultimately, complete DEX will be workable if there is still a way to obtain a successful resolution on an error that happened outside your control. would you agree?

What sort of errors that are outside of my control are likely to occur on a DEX? The protocol(s) should have enough security and proof built into them that errors are prevented. Centralized authorities to reach resolutions are only necessary if there is dispute about what has been exchanged. This can be avoided altogether if done properly. I believe I disagree, but I am willing to hear more specifically what kinds of errors and resolutions you speak of.

Purplefinder

newbie

Activity: 45

Merit: 0

Quote from: bill gator on March 25, 2018, 09:31:44 PM

In my opinion, we should try to accomplish a 0% fee and only pay miner fees or whatever else would be absolute required. There exists the possibility of decentralized exchanges, and through a decentralized exchange it would make sense that 0% fees would be a regular occurrence. This would be my preference moving forward, I do not think that the crypto world needs more unregulated centralized exchanged that do as they please. They frequently get hacked, disappear, hold deposits and withdrawals; the list of problems with exchanges aside from the exchange rate is long. I would like to see more companies pushing in the direction of open-source decentralized exchanges as the norm.

yes! DEX is the future & there are some good exchanges. But technically, they are not yet perfect. Things can still go wrong on a DEX, although rare & people are working to fix these short comings.

Ultimately, complete DEX will be workable if there is still a way to obtain a successful resolution on an error that happened outside your control. would you agree?

Purplefinder

newbie

Activity: 45

Merit: 0

Quote from: notthematrix on March 25, 2018, 09:25:12 PM

Usually, 0.1% is the decent amount of fee you should find, look at binance

yes Binance grew very quickly from 3million to 5 million to 7 million users (recently). I think they took about 5 months to jump from 3mil to 7mil users. Part of their success, imho, is because of the BNB token

The 0.1% rate seems to be the consensus mostly across the world. But 0.1% should also pay for a good user experience on the platform

that should include user on boarding, deposits, withdrawals, liquidity, quick transactions, resolution center etc

bill gator

legendary

Activity: 1372

Merit: 1123

In my opinion, we should try to accomplish a 0% fee and only pay miner fees or whatever else would be absolute required. There exists the possibility of decentralized exchanges, and through a decentralized exchange it would make sense that 0% fees would be a regular occurrence. This would be my preference moving forward, I do not think that the crypto world needs more unregulated centralized exchanged that do as they please. They frequently get hacked, disappear, hold deposits and withdrawals; the list of problems with exchanges aside from the exchange rate is long. I would like to see more companies pushing in the direction of open-source decentralized exchanges as the norm.

notthematrix

legendary

Activity: 980

Merit: 1000

CryptoTalk.Org - Get Paid for every Post!

Usually, 0.1% is the decent amount of fee you should find, look at binance

Purplefinder

newbie

Activity: 45

Merit: 0

Coinbase is super expensive. How much Exchange fees is OK to pay?

NEXTHASH is an exchange that is about to go live in a couple of weeks. You can tell them what exchange fees you prefer on their telegram group.

Join their community here on Telegram: http://t.me/nexthash

They support all the major coins & tokens & are open to listing more EC20 compatible tokens if you post your request on their telegram chat.

They are not doing an ICO but saying that there will be a lot of traders from day 1.
Join their community here on Telegram: http://t.me/nexthash

Topic: Coinbase is expensive. How much exchange fees is OK? - page 2. (Read 229 times)