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Author Topic: Coinbase is expensive. How much exchange fees is OK?  (Read 119 times)
ajochems
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March 27, 2018, 03:50:21 PM
 #21

Coin base transcation fee is not much high now.I don't know how you consider this.I had pay 0.000007 for the transaction of 0.007 bitcoin.This value is 1/1000 of the transaction.Due you think this is high transcation fee??
I agree previously the transaction fee was high before the lightning effect. Now it's fine.
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March 27, 2018, 04:46:43 PM
 #22

In my opinion, we should try to accomplish a 0% fee and only pay miner fees or whatever else would be absolute required. There exists the possibility of decentralized exchanges, and through a decentralized exchange it would make sense that 0% fees would be a regular occurrence. This would be my preference moving forward, I do not think that the crypto world needs more unregulated centralized exchanged that do as they please. They frequently get hacked, disappear, hold deposits and withdrawals; the list of problems with exchanges aside from the exchange rate is long. I would like to see more companies pushing in the direction of open-source decentralized exchanges as the norm.
Yes using decentralized exchanges, is a good solution for avoiding exchange fees. But it has a problem also. sometimes don't work properly and these are only in eth platform. But it is sure that all decentralized will be more developed and also be more popular in recent future I think.

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Zagitta
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March 27, 2018, 04:50:42 PM
 #23

0.25% is ok I think. And the exchanges should do away with the withdrawal fees as they can batch the withdrawals and reduce the cost of the withdrawals tremendously. But if the exchanges are sticking with the withdrawal fees than 0.1% trading fees is ok.

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March 27, 2018, 04:56:47 PM
 #24

Usually, 0.1% is the decent amount of fee you should find, look at binance
Binance has the lowest trading fee, it effectively comes down to 0.05% if BNB is used/enabled as fee deduction source.


In my opinion, we should try to accomplish a 0% fee and only pay miner fees or whatever else would be absolute required. There exists the possibility of decentralized exchanges, and through a decentralized exchange it would make sense that 0% fees would be a regular occurrence. This would be my preference moving forward, I do not think that the crypto world needs more unregulated centralized exchanged that do as they please. They frequently get hacked, disappear, hold deposits and withdrawals; the list of problems with exchanges aside from the exchange rate is long. I would like to see more companies pushing in the direction of open-source decentralized exchanges as the norm.
Yes using decentralized exchanges, is a good solution for avoiding exchange fees. But it has a problem also. sometimes don't work properly and these are only in eth platform. But it is sure that all decentralized will be more developed and also be more popular in recent future I think.
Decentralized exchanges aren't perfect now, but in few years we'll all be using a fully functional rich featured dex. atomic swap is also is a thing, we would be able to exchange tokens/currencies between blockchains, exciting things are ahead for us. Wink
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March 27, 2018, 05:27:48 PM
 #25

0.25% is ok I think. And the exchanges should do away with the withdrawal fees as they can batch the withdrawals and reduce the cost of the withdrawals tremendously. But if the exchanges are sticking with the withdrawal fees than 0.1% trading fees is ok.

People should have the option to choose whichever withdrawal option they want to make use of. In case they require the transaction to confirm as soon as possible, one single output should be allowed. Exchanges batching transactions wait till they accumulated enough withdrawal requests, which can take a few minutes, and then send out the funds. I am not really a fan of that, and for that reason I am happy to see that Coinbase allows instant/single output cashouts. At the end of the day, centralized exchanges can ask whatever they want as fees, because people use them, and that directly means they agree to all terms. It's a bit silly to sign up, buy/sell, and then say that the fees are high -- that's something one could have figured out before signing up....
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March 27, 2018, 05:41:01 PM
 #26

There are several exchanges that have different rates for transaction fees with coinbase being the highest of them all. Many people consider it not too hogh though but in reality it is. You can see the price was too high when BTC was at a surge. While the optimum fee should be 0.1% as many other traders have already said, I think it would be much better if people had options to decide their own fee structure. For example if we could choose whether to withdraw in batch or by paying customized or optimum fees.














 

 

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March 27, 2018, 09:39:24 PM
 #27

Coinbase is super expensive. How much Exchange fees is OK to pay?

NEXTHASH is an exchange that is about to go live in a couple of weeks. You can tell them what exchange fees you prefer on their telegram group.

Join their community here on Telegram: http://t.me/nexthash

They support all the major coins & tokens & are open to listing more EC20 compatible tokens if you post your request on their telegram chat.

They are not doing an ICO but saying that there will be a lot of traders from day 1.
Join their community here on Telegram: http://t.me/nexthash
I do not think coinbase is expensive, transaction fees are reasonable when their security is very high. It is difficult for hackers to break into personal accounts to steal money.
NEXTHASH has just been established and it can not be compared to Coinbase. You should have more persuasive words to introduce more merchants to NEXTHASH.

Binance just started too.. its only been a few months, it is secure & cheap. So the thought model of expensive = secure doesn't win any more?
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March 27, 2018, 09:58:35 PM
 #28

In my opinion, we should try to accomplish a 0% fee and only pay miner fees or whatever else would be absolute required. There exists the possibility of decentralized exchanges, and through a decentralized exchange it would make sense that 0% fees would be a regular occurrence. This would be my preference moving forward, I do not think that the crypto world needs more unregulated centralized exchanged that do as they please. They frequently get hacked, disappear, hold deposits and withdrawals; the list of problems with exchanges aside from the exchange rate is long. I would like to see more companies pushing in the direction of open-source decentralized exchanges as the norm.
Yes using decentralized exchanges, is a good solution for avoiding exchange fees. But it has a problem also. sometimes don't work properly and these are only in eth platform. But it is sure that all decentralized will be more developed and also be more popular in recent future I think.

Indeed, there are issues that need sorting out now. Volume & liquidity is a problem that can be easily sorted out.
However, bugs are a persistent problem. It needs more work
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March 28, 2018, 01:14:36 PM
 #29

0.25% is ok I think. And the exchanges should do away with the withdrawal fees as they can batch the withdrawals and reduce the cost of the withdrawals tremendously. But if the exchanges are sticking with the withdrawal fees than 0.1% trading fees is ok.

People should have the option to choose whichever withdrawal option they want to make use of. In case they require the transaction to confirm as soon as possible, one single output should be allowed. Exchanges batching transactions wait till they accumulated enough withdrawal requests, which can take a few minutes, and then send out the funds. I am not really a fan of that, and for that reason I am happy to see that Coinbase allows instant/single output cashouts. At the end of the day, centralized exchanges can ask whatever they want as fees, because people use them, and that directly means they agree to all terms. It's a bit silly to sign up, buy/sell, and then say that the fees are high -- that's something one could have figured out before signing up....
I agree with you that users may pay in exchange for a benefit.

which exact feature would you be ready to pay a premium for? and how much would you think is reasonable for such a premium.
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April 10, 2018, 10:40:54 AM
 #30

I prefer 0.1%, 0.2% fee seems a-okay to me as well. It's not like I'm moving a ton of money anyway. I trust Coinbase completely. I'm not a shill or anything like that. Just wanted to put it out there. Newcomers may find this helpful.
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April 11, 2018, 03:02:22 AM
 #31

I prefer 0.1%, 0.2% fee seems a-okay to me as well. It's not like I'm moving a ton of money anyway. I trust Coinbase completely. I'm not a shill or anything like that. Just wanted to put it out there. Newcomers may find this helpful.

Trust is absolutely essential
SirLancelot
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April 11, 2018, 12:40:43 PM
 #32

If I’m right, there are times when Bitcoin transactions were made with just 0% fees right? But starting around 2016/2017 transaction fees were made available. But if they were available before, maybe I just didn’t notice them cause I can remember that I can even send someone $1 and no fees will be charged. Another thing then was that transactions were confirmed quickly.

I don’t know why things changed now. I also stopped using Coinbase because of their high fees, then I tried to use Xapo, but it seemed to be the same, before I went for Blockchain.info wallet.

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April 11, 2018, 04:57:17 PM
 #33

Please explain more about blockchain.info wallet vis-a-vis Coinbase
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