[GUIDE] How to convert Bitcoin and other crypto with NO FEES

timerland

hero member

Activity: 1526

Merit: 596

Didn't Coinbase Pro add fees?

As far as i know they're not completely feeless. The minimum taker fee (i.e., you execute a market order either way on the orderbook) is 0.05% even if you have $1B+ volume, while for most people the maker fee/taker fee split is .15%/.25%, similar to what other major fiat exchanges offer.

You're not taking into account the withdrawal fees as well, especially with the type of audience that your article is geared to they are very likely going to be trading lower volumes which means that withdrawal fees constitute a significant percentage of their trading. Also, even though spreads aren't necessarily fees, they still make up potentially more than even the exchange fees in terms of amount lost through a trade. Not to mention the somewhat questionable reputation of Coinbase. These are all factors that need to be taken into consideration.

Theb

hero member

Activity: 1680

Merit: 655

Basing it from my experience limit orders are a sort of a waiting game as traders usually use it on setting up prices below the current market price. So in cases such as a bull run which the market is currently experiencing pending orders tends to pile up and don't get match quickly as compared to market orders. In this cases where you are missing a bull run I don't think its a smart move for any trader just so he/she can save a few bucks from a single trade. This strategy would be much better if you know yourself that a crypto is going down.

TalkStar

copper member

Activity: 1204

Merit: 737

✅ Need Campaign Manager? TG > @TalkStar675

Most of the time you will have to spend some fees during converting one to another. We can't do nothing with that because its totally depends on exchanges. Converting fee is slightly different on many exchanges because some exchanges offer slightly lower fees where some offer higher. Honestly exchanges take this fees as their profit due to giving traders a platform to trade. just having fees isn't the only earning for them because the charge a handsome listing fee too.

speedbrake91

jr. member

Activity: 37

Merit: 1

Quote from: madrogue on April 09, 2019, 06:43:19 AM

This guide is very helpful to help how to convert Bitcoin. But in your title is How to convert Bitcoin with no fees.
Most of crypto exchange is using Market and Limit.
There are diffference

Market is a method to buy/sell Bitcoin instantly using the best price listed in Order Book.

Limit is a method you can choose when you wish to buy/sell Bitcoin with your own price. This may result to pending orders.

If you are using the Limit method, you can trade Bitcoin for free. But if you are trading using the Market method, you will be charged fee for every transaction.

Source: https://help.indodax.com/apa-perbedaan-limit-dan-market-instan/

Thanks for your comment but if you read carefully my guide I talk about both methods, explaining that the Market is an instant method, if you wish to convert as soon as possible. The second method, the Limit, is a bit slower because you make an order and you have to wait a bit until the current price reaches the limit you set. But if you put a limit very close to the current price, you actually don't need to wait too long. It could be only a matter of seconds, as I wrote in the guide. That's why it's actually a smart trick to convert with no fees Grin

madrogue

member

Activity: 98

Merit: 15