Coinbase and Coinbase Pro are world-renowned cryptocurrency exchanges that offer seamless crypto transactions at a visibly fast rate, but how much are the transaction fees?
Coinbase Global Inc manages both exchanges, allowing experienced users and investors to buy, trade and sell cryptocurrencies on its platform. While there are no fees to transfer between Coinbase and Coinbase Pro, other transactions and transfers incur a slight charge.
Let’s take a look at the transaction fees of Coinbase and Coinbase Pro to determine which platform is suitable for users to conduct smart crypto transactions.
COINBASE TRANSACTION FEES
According to Coinbase’s official blog post, “cryptocurrency transaction fees are calculated at the time a person is able to place an order and can be determined by a combination of factors including the payment method selected, order size and market conditions such as volatility and liquidity.”
According to multiple sources, Coinbase charges 0.50% per transaction as its fee, along with a 3.99% charge for credit card purchases. Coinbase also charges 1.49% as a fee to allow users to access the exchange’s wallet or bank account purchases.
The exchange supports 107 cryptocurrencies, allowing users and investors to buy, sell and exchange cryptocurrencies in a simple manner.
COINBASE PRO TRANSACTION FEES
Unlike the base version of Coinbase, Coinbase Pro gives users a more concrete view of the fees they will pay depending on the order amount. Simply put, the higher the amount, the lower the fees. Coinbase breaks down Taker’s fees as follows:
Less than $10,000 – 0.6%.
$10,000 – $50,000 – 0.40%
$50,000 – $100,000 – 0.25%
$100,000 – $1,000,000 – 0.20%
$1,000,000 – $20,000,000 – 0.18%
$20,000,000 – $100,000,000 – 0.15%
$100,000,000 – $500,000,000 – 0.10%
$500,000,000 – $1,000,000,000 – 0.08%
$1,000,000,000 – $2,000,000,000 – 0.05%
Over $2,000,000,000,000 – 0.04%.
These volumes also have different manufacturer’s fees that are slightly lower than the taker’s fees when they exceed $10,000.
Coinbase calculates these fees when the order is first placed, it said in a blog post.
The Pro version is a more dynamic version of Coinbase that offers advanced trading mechanisms to users. Coinbase Pro offers support for more than 250 cryptocurrencies while offering secure transaction processes. These include two-step verification, biometric fingerprint logins and insurance in case coinbase is breached.