Anyone familiar with GDAX's fees? I have a question...

[Phriend]

I was about to fund my GDAX account using a bank transfer -- which seems to be very cheap or free -- but then I noticed that it might take a good three business days for the funds to show up in my account.  (Does it usually take this long?)  I was hesitant to use the bank transfer because coin prices seem to be rising so fast that I didn't want to wait so long. (Is this smart or dumb?)

That said, I was thinking about using a credit card to fund my GDAX account.  I guess I have four questions...

1)  Can you fund a GDAX account with a credit card?
2)  If you fund by credit card, is it instant?
3)  What is the GDAX fee for funding an account with a credit card?
4)  What fee does the credit card company usually charge for doing this?  Feel free to estimate based on your own experience.  (I use Chase Bank... and Bank of America).

[ikilledcobain]

1) I'm pretty sure you can't directly - you have to fund coinbase with the credit card and then transfer to GDAX. The coinbase fees for a credit card are pretty high, about 4% I think.
2) I believe it's instant to coinbase and then you could transfer to GDAX instantly, so it would be faster
3) See the above, but for coinbase I believe it's at least 4% or 3.99% to be exact
4) I haven't incurred a fee - it seems to treat it as a normal transaction, not a cash advance, but your mileage may vary on this.

Hope that helps!

[HabBear]

Good questions, my answers...

1) What's the link between Coinbase and GDAX? Coinbase buys can be funded with a credit card and Coinbase likely uses GDAX to buy the coins they earmark for your purpose.
2) Credit card buys via Coinbase lock in your buy price instantly and the trade (buy) settles (appears in your account) within 48 hours or so
3) Coinbase fee for credit card bays IS 4.99%
4) Credit card company doesn't charge a fee for these transactions, just as they don't charge you a fee for making a purchase; They will apply finance charges based on the debt you carry with them, but that's separate from what you're talking about.