coinbase pro question | Bitcointalksearch.org

figmentofmyass

legendary

Activity: 1652

Merit: 1483

Quote from: AdolfinWolf on June 24, 2019, 12:48:51 PM

I'm pretty sure that even if coinbase gets hacked, if you're storing less than 250.000$, you'll get a full "recovery" of your funds. - https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

the $250k only applies to USD held by USA residents. they are covered by FDIC (government) insurance:

Quote

If you are a United States resident, your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of $250,000.

as for digital currency:

Quote

Digital currency is not legal tender, is not backed by the government, and digital currency accounts and value balances on Coinbase are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections.

they store "less than 2% of customer funds" in hot wallets. those funds are fully insured. so if a hacker drains a hot wallet, they will fully compensate customers. but if their cold storage gets compromised, their insurance won't cover anything.

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

Quote from: Scotslass on June 24, 2019, 10:40:10 AM

It is better to choose some the exchange. Coinbase is not secure enough but it is a good way to start.
I will listen what users say as well.

Coinbase is literally the most regulated and secured exchange there is.. Tell me; what exchange do you use to buy your bitcoins that is safer than coinbase?

Bitfinex/Bitstamp/Kraken don't even come close.

I'm pretty sure that even if coinbase gets hacked, if you're storing less than 250.000$, you'll get a full "recovery" of your funds. - https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

Quote from: Scotslass on June 24, 2019, 10:40:10 AM

It is better to choose some the exchange. Coinbase is not secure enough but it is a good way to start.
I will listen what users say as well.

How would you define 'secure'? Coinbase Pro is a pretty decent fiat exchange in my experience, there's plenty of volume in the exchange and everything works just fine on the site (and there's plenty of security options for your own account). More advanced than simply using plain Coinbase, and good enough for more experienced traders too.

If you want to deposit and trade with Bitcoin on leverage, BitMEX could be a decent option as well- the site has never been hacked before, and things seem to be pretty secure considering they only do one batch of withdrawals daily (and you get plenty of security options as well), but that could obviously change quickly too.

Scotslass

jr. member

Activity: 37

Merit: 1

It is better to choose some the exchange. Coinbase is not secure enough but it is a good way to start.
I will listen what users say as well.

Jet Cash

legendary

Activity: 2870

Merit: 2474

https://JetCash.com

If you are trading BTC/USD, then the fees are in dollars. I trade BTC/GBP, and the fees are in Sterling.

skohoutek

newbie

Activity: 5

Merit: 0

Like a mistake with the system?

Thanks for your help magic
How do I give you a merit?

DaCryptoRaccoon

hero member

Activity: 1241

Merit: 623

OGRaccoon

From your info you posted it looks like the fees are being charged in USD.
As for the loss in btc value I guess that must have been a price issue?

skohoutek

newbie

Activity: 5

Merit: 0

The top one (last transaction) is the one where I lost some btc and don't understand why

skohoutek

newbie

Activity: 5

Merit: 0

Thank you! yes below I posted my latest trading transactions. all of them were market orders. starting from the bottom with oldest

Buy
BTC/USD
$237.00
0.02130958
$11,094.02
$0.59 fee
Jun 23, 2019 - 09:13:40 PM UTC

Sell
BTC/USD
0.02138985
0.02138985
$11,117.16
$0.59 fee
Jun 23, 2019 - 09:13:11 PM UTC

Buy
BTC/USD
$233.00
0.02138985
$10,865.85
$0.58 fee
Jun 22, 2019 - 03:15:07 AM UTC

Sell
BTC/USD
0.02138816
0.02138816
$10,885.03
$0.58 fee
Jun 22, 2019 - 03:14:57 AM UTC

Buy
BTC/USD
$199.00
0.02138816
$9,281.01
$0.50 fee
Jun 19, 2019 - 11:09:30 PM UTC

DaCryptoRaccoon

hero member

Activity: 1241

Merit: 623

OGRaccoon

Quote from: skohoutek on June 23, 2019, 07:02:57 PM

Thanks for the response Magic really appreciate it.

do they take it out in usd or in bitcoin?

The only reason I ask is because I sold at high price and rebought at a lower price than what I sold for and lost a little btc on the transaction. And in a similar scenario before that I actually gained btc. Just confused on why I lost one and gained on another.

Mabey you could post the trades in question might be able to understand what happened.

Did you market sell? then market buy?

Or

did you place the order into the book and they were filled?

From my reading of coinbase pro's technical pages it seems that transactions made on all non-USD books are converted to USD based on the most recent fill price on the respective book.

So my thoughts would be you would see the fee in USD.

skohoutek

newbie

Activity: 5

Merit: 0

Thanks for the response Magic really appreciate it.

do they take it out in usd or in bitcoin?

The only reason I ask is because I sold at high price and rebought at a lower price than what I sold for and lost a little btc on the transaction. And in a similar scenario before that I actually gained btc. Just confused on why I lost one and gained on another.

DaCryptoRaccoon

hero member

Activity: 1241

Merit: 623

OGRaccoon

Hi Scott welcome to the forum.

Below you can see a table of the coinbase pro maker / taker fees.

If you place your order on coinbase pro and your order is fuilled right away you are classed as the taker and will pay around 0.05% to 0.25%
If you plance your order and is fails to fill right away or be matched that order makes it waty to the order book say bob comes along and places another order that matches your order then this would make you the maker and the fee would be 0.00% to 0.15%

Code:

Pricing Tier Taker Fee Maker Fee
<$100K 0.25% 0.15%
100K - 1M 0.20% 0.10%
1- 10M 0.18% 0.08%
10 -50M 0.15% 0.05%
50 - 100M 0.10% 0.00%
100 - 300M 0.08% 0.00%
300 - 500M 0.07% 0.00%
500M - 1B 0.06% 0.00%
$1B+ 0.05% 0.00%

Your taker fees on coinbase pro are calculated based upon total USD trading volume over a 30 day period across all order books.

To read some more see : https://support.pro.coinbase.com/customer/en/portal/articles/2945310-fees

skohoutek

newbie

Activity: 5

Merit: 0

Hi I'm Scott and new to the forum and I have some questions about coinbase pro exchange. Whats the best way to calculate the taker fees to my order so I know how much it will be total in usd? Also is there a way to figure out at which price point I need to sell in order to cover the fees and profit? If I plan to buy for less than what I sold for is there a way to figure out at what price point I need to buy to cover the fees and still get a good deal? Thanks for any help and sorry if something similar has been posted before I could not find anything on it.

Topic: coinbase pro question (Read 160 times)