Coinbase questions

[bbit]

How much do they take ( what % ) when you sell your bitcoins on Coinbase and how long does it take to move your money to your bank account?

[BTCisthefuture]

Someone can correct me if I'm wrong but I believe they have a flat 1% fee. At least that's how it works for merchants who use their service.

[bbit]

Someone can correct me if I'm wrong but I believe they have a flat 1% fee. At least that's how it works for merchants who use their service.

Yes, the merchants get 1 percent flat fee , I'm wondering does this apply to everyone. Also, how long does it take to move $$ from Coinbase to your bank of choice? 3-5 days?  for merchants it might be 1 day not sure.

[tclo]

The fee is just over 1% and they are pretty quick about funds to and from your bank account..sometimes just one day and sometimes 2 or 3, esp if the weekend.

But they do some shady things as well...not a big fan of them but I do have an account there and use it to buy BTC sometimes so that says a lot.

[joesmoe2012]

Yes it's 1% above the exchange rate that they provide you. Note that sometimes their exchange rate varies depending on the amount of BTC you are buying/selling.

There is a promotion going on right now for merchants where you get fee free transactions for your first $1mil in volume or something like that.

[balanghai]

You must mind that only US residents can do a bank transaction with coinbase.