No transaction fees with coinbase? It’s possible!

When you’ve made an account with coinbase, you might already have noticed that you have to pay transaction fees when you want to transfer euro or dollars into bitcoin, litecoin or ethereum. But don’t worry! On this page you will find out how not to pay any transaction fees with coinbase.

 

Coinbase and GDAX

Coinbase offers two platforms to exchange euros or dollars into cryptocoins. The first platform is coinbase itself where you enter the amount you want to exchange. For this you pay transaction fees because it’s coinbase who takes care of exchanging.

The second platform is an exchange, called GDAX, which has a direct connection to coinbase. On this platform you can choose the price for which you want to exchange your dollars or euros into cryptocoins. When you exchange your money through GDAX you don’t pay any transaction fees. The account you have with coinbase is the same account with GDAX, even your password is the same.

Before we continue, a little remark: when you make an account with coinbase through this link, you get 8 euro or 10 dollar for free with your first exchange you make. it’s still profitable to exchange 88 euro or 100 dollar through coinbase before switching the rest of your funds over to GDAX. The 88 euro or 100 dollar are the minimum amount you need to exchange through coinbase to get the free bonus money. When you deposited more than this amount, it’s more profitable to exchange the rest of your money following this method.

 

How does it work?

Firstly, you have to have an account with coinbase. On this page you can read how to make a coinbase account for yourself!

When you have your euros or dollars on your coinbase account, you go to GDAX.com. Here you can log in with the same username and password as with coinbase itself. Normally you will have to do an additional identity check before you can continue. You will have to verify your identity through your international passport or your driver’s license.

Upon completion,  you end up on this page:

 

   Start page GDAX

 

In the top left corner you now click on deposit. You will see the next screen pop up:

 

deposit page GDAX

 

You click on ‘coinbase account’, Fill in the amount you want to exchange through GDAX and click on ‘deposit funds’. Your balance will immediately show. There are no delays in depositing. Now you just have to exchange your euro or dollars!

You now click on ‘Limit’, you fill in the ‘Limit price’ you want to buy bitcoins for. Choose a price close to the market price if you want your bitcoins immediately. Then fill in the amount of bitcoins you want to buy. At the bottom of the page you see how much euro or dollar you will exchange.

 

Limit buy GDAX

 

In the top left corner next to ‘GDAX’, you can switch between litecoin, ethereum or bitcoin, depending on the cryptocoin you want to purchase.

 

GDAX all coins

 

To exchange your cryptocoins back into dollars or euros, you can do the same thing as you’ve done just now!

 

And now the best part!

You can immediately send your cryptocoins from GDAX for free! You can send them to a hardware wallet where they will be safer then on an online exchange! Remember! You are only the real owner of your cryptocoins when you are in possession of your private keys. A hardware wallet is the perfect choice for that! Read more about it here

But you can also send them for free to an other exchange like Binance and trade them into other cryptocoins!