The Coinbase fee calculator gives you an idea of how much you’ll pay for the popular crypto trading platform’s services. Those who are new to Coinbase likely anticipate its amazing trading features. These include its numerous currency options in multiple markets of exchange as well as the ability to make extra cash through account referrals.
Use this brief guide to understand how Coinbase calculates their fees and what services they offer that require extra payments from you. They disclose their fees to you right away, but it still helps to know in advance what you’re looking at.
The Wallet Feature
The wallet on Coinbase allows traders to store their cryptocurrency (as well as the USD they use to buy it) at no extra cost. This includes any and all currency supported by the Coinbase platform. If you have multiple wallets, you can also transfer currency between them at no extra fee.
The wallet only charges you when you make transactions over the network (this includes transaction and miner’s fees). In this case, Coinbase charges a fee equal to its estimate of the transaction fees once it goes through. This means that the fees may not always be exactly equal, so it helps that Coinbase informs you with up-to-date invoices.
Purchases and Sales
When you buy and sell crypto on Coinbase, they charge a fee based on the market value of the currency. This can fluctuate even between the price quoting and the payout. Their fees, however, almost always hover between 0.5% and 1% of your transaction.
Coinbase also charges an additional fee based on the flat rate of your payment type for the region in which you’re trading. For a transaction worth less than $10, the Coinbase fee is $0.99. For a $100 transaction, the fee is $2.99. These fees can be viewed on the Coinbase site.
They charge this flat fee only if the percentage fee would be less than it. If their percentage fee (1.49% of the total value of your trade) would be greater than the flat fee displayed in their charts, they would charge that instead.
This means that you can calculate the unique Coinbase fee based on the transaction amount and their conversion rate. Just remember that the fee you pay will always be greater than the flat fee charges based on the amount.
Thankfully, they offer many sources of information for you to accurately calculate your conversions.
Coinbase Fee Calculator: In Summary
Coinbase fee calculator includes several fees that calculate their consumer exchange rate as well as their own unique transaction fees or “Coinbase Fees.” You can calculate these based on their conversion rates but remember that the value of the currency and the amount of the transaction can make the fees vary. It can even change between the time that it’s quoted to you and the time you get the invoice.
Thankfully, Coinbase remains upfront about the fees they charge. They offer resources on their website for traders to calculate fees and anticipate extra charges. They remain the most well-trafficked and diverse cryptocurrency trading platform in the world for a reason.