Can I convert bitcoin to another crypto with coinbase without any fees?

[zxcv1]

Suppose Bitcoin goes down and I want to convert to USDC (USD coin). Would this be a good way to prevent further losses? Do I have to take a 2% (or other) loss on every transaction?

[mk4]

Coinbase will always have transaction/conversion fees, because that's generally where they make their money.

You can check out all their fees here: https://help.coinbase.com/en/coinbase/trading-and-funding/pricing-and-fees/fees

[zxcv1]

Seems to be a scam. They will charge me again 1.5% to convert to USDC.

Lesson learned. I've been robbed by Coinbase. Won't bother with Coinbase again once I get my money back.

[DannyHamilton]

Suppose Bitcoin goes down and I want to convert to USDC (USD coin). Would this be a good way to prevent further losses? Do I have to take a 2% (or other) loss on every transaction?

If you are going to convert to USDC just to hold it to prevent losses, then why not just convert to USD?

Anyhow, if you use Coinbase Pro, your fees will be 0.5% or less (depending on your total transaction volume at Coinbase Pro over the past 30-day period).  That's about as low as you are going to get your fees at Coinbase.

[Jawhead999]

Any exchanges will always charge a fees, especially coinbase... it took high fees.

If you want to convert/trading better to use coinbase pro since the fees is lower than coinbase [1] Or you can use Binance or KuCoin, they only charge 0.1% fees.

[1] https://help.coinbase.com/en/pro/trading-and-funding/trading-rules-and-fees/fees

[DannyHamilton]

Seems to be a scam. They will charge me again 1.5% to convert to USDC.

Lesson learned. I've been robbed by Coinbase. Won't bother with Coinbase again once I get my money back.

Do you know of a reliable, trustworthy, regulated, audited, insured place that you can exchange cryptocurrency for LESS than 0.5%??

[mk4]

Seems to be a scam. They will charge me again 1.5% to convert to USDC.

Lesson learned. I've been robbed by Coinbase. Won't bother with Coinbase again once I get my money back.

There's a huge difference between an exchange taking massive fees, and a straight-off scam. It's not like Coinbase's fees were a secret or something, Coinbase taking high af fees has been known since forever. All you needed to do was to do a bit of research.

[zxcv1]

Suppose Bitcoin goes down and I want to convert to USDC (USD coin). Would this be a good way to prevent further losses? Do I have to take a 2% (or other) loss on every transaction?

If you are going to convert to USDC just to hold it to prevent losses, then why not just convert to USD?

Anyhow, if you use Coinbase Pro, your fees will be 0.5% or less (depending on your total transaction volume at Coinbase Pro over the past 30-day period).  That's about as low as you are going to get your fees at Coinbase.

Because it's not possible as it said up to 9 days to complete transaction to withdraw anything.

It will cost over $100 to withdraw. So I can gamble it will go up again, or cut my losses.

Converting to another coin or withdrawing will cost the same 1.5%.

Edit: yes it will take time; although it's available, it says not available to send. It says, "Available to send in 8 days."

[The Cryptovator]

Exchanging crypto to USD or USDT/stable coin means you need to trade. And I don't think any exchange will offer these features free. If you believe coinbase asking for a higher fee then you should compare other exchanges that offering less trading fee. Unless you trade peer to peer (face to face) you can't avoid fees. Just look on a few exchanges and compare fees. I don't want to promote any exchanges but choose a reputed and high volume exchange.

[BrewMaster]

Coinbase (or any other exchange) aren't spending lots of money on servers and security out of the goodness of their hearts! they want to make money. this means when you use their services you have to pay a fee which is normal in any exchange platform.
all the headaches such as the "9 day wait" you mention are not the exchange's fault, it is the fiat and banking system issues where the money takes A VERY LONG time to be considered "finalized" (reminder to those who complain bitcoin is slow!).

the only option to eliminate additional fees (trading fees) and only have network fees is to use truly decentralized exchanges. unfortunately there is always some centralization involved. i asked this question a while ago (https://bitcointalk.org/index.php?topic=5266934.0) they all charge a fee.

also beware of the altcoins risks specially the centralized ones known as "stable coins". they are stable and active until they are not. and it can happen in a blinking of an eye.

[Oshosondy]

Seems to be a scam. They will charge me again 1.5% to convert to USDC.

That is too high, if you are not from US, you can use binance for such trade, binance only charges 0.1% for every trade you make. If you are from US, you can try binance US, but I have never tried out the exchange before as I am not from US but I believe they will mimic binance some kind aside from the market volume of binance.com that is much higher and also much more trading pairs on binance.com.

[zxcv1]

Coinbase (or any other exchange) aren't spending lots of money on servers and security out of the goodness of their hearts! they want to make money. this means when you use their services you have to pay a fee which is normal in any exchange platform.

the only option to eliminate additional fees (trading fees) and only have network fees is to use truly decentralized exchanges. unfortunately there is always some centralization involved. i asked this question a while ago (https://bitcointalk.org/index.php?topic=5266934.0) they all charge a fee.

also beware of the altcoins risks specially the centralized ones known as "stable coins". they are stable and active until they are not. and it can happen in a blinking of an eye.

The "servers cost money" argument is nonsense. This is exorbitant profit, and that's all. I run multiple servers, I know how much servers cost even at volume. This is not to pay for servers.

[mk4]

The "servers cost money" argument is nonsense. This is exorbitant profit, and that's all. I run multiple servers, I know how much servers cost even at volume. This is not to pay for servers.

Yea sure. But there's a reason why Coinbase is a multi-billion company and you're not. They simply exist to make money, just like, you know, every single for-profit business ever in existence. It doesn't take much to immediately realize that they're obviously not a charity.

[xceltokenplus]

The Complete Guide to Coinbase Fees (and How to Avoid Them)

Please check this link: https://www.cryptoryancy.com/the-complete-guide-to-coinbase-fees-and-how-to-avoid-them/

[zxcv1]

The "servers cost money" argument is nonsense. This is exorbitant profit, and that's all. I run multiple servers, I know how much servers cost even at volume. This is not to pay for servers.

Yea sure. But there's a reason why Coinbase is a multi-billion company and you're not. They simply exist to make money, just like, you know, every single for-profit business ever in existence. It doesn't take much to immediately realize that they're obviously not a charity.

If I robbed people I'd be a multibillionaire too. On the one hand you said "server cost is high" on the other hand you said "they're not a charity!" You're just coming to their defense of high fees where they rob beginners who are trapped in it before they learn how to avoid more fees, like by NOT USING THEM.

The Complete Guide to Coinbase Fees (and How to Avoid Them)

Please check this link: https://www.cryptoryancy.com/the-complete-guide-to-coinbase-fees-and-how-to-avoid-them/

For example, I just moved 1 BTC the other day and it cost 0.0000417 BTC - which was around $1.35 to move over $35K in BTC (1/11/2021).

It's not a complete guide unfortunately. All he did is tell me that he paid less. He didn't tell me how to do this. Of course, I would like to do that, but the guide does not tell me how.

[mk4]

If I robbed people I'd be a multibillionaire too

Except you're missing the part that no one is actually forced to use Coinbase. Don't like their exceptionally high fees? Simply don't use them and use a different exchange. But you ended up deciding to blindly use it despite the various information on the web concerning Coinbase's fees.

[BrewMaster]

The "servers cost money" argument is nonsense. This is exorbitant profit, and that's all. I run multiple servers, I know how much servers cost even at volume. This is not to pay for servers.

it is an open market and you can too create a new exchange and offer no trading fees and if your services are secure and trustworthy you will take all the traffic from coinbase and direct it into your own business.
if you think you can do better, start today.

If I robbed people I'd be a multibillionaire too

it can only be considered robbing if they hadn't told you about the fees and all the other conditions beforehand. but they did and you have accepted it all when you clicked the "Accept" button on their TOS without reading it.

[zxcv1]

it can only be considered robbing if they hadn't told you about the fees and all the other conditions beforehand. but they did and you have accepted it all when you clicked the "Accept" button on their TOS without reading it.

They didn't. It was not clear I would be charged such high fees repeatedly in every direction. So, it's robbery. Fact. It's called taking advantage of new people.

Nonetheless again I would like to know how to do what that guide said he did to avoid the fees. The guide was incomplete and did not tell me how.

Don't like their exceptionally high fees? Simply don't use them and use a different exchange.

I'm not going to. But my money is in there right now and I want to get it out by getting robbed as little as possible.

[irixo10]

Exchanges do not joke with their fees, be it withdrawal fees or trading fees, it is very important to them because that is one of things they need in order to operate effectively. Suppose you have Bitcoin and bear market enters and Bitcoin goes down, you can covert to USDC easily without any issues and of course you will be saving any further losses but it doesn't come free you will be liable to pay any trading fees set by the exchange. Also, I do not think there will be any other loss in transaction apart from the trading fees, unless you are withdrawing to a personal wallet where you will be charged withdraw fees. 

[zxcv1]

Exchanges do not joke with their fees, be it withdrawal fees or trading fees, it is very important to them because that is one of things they need in order to operate effectively. Suppose you have Bitcoin and bear market enters and Bitcoin goes down, you can covert to USDC easily without any issues and of course you will be saving any further losses but it doesn't come free you will be liable to pay any trading fees set by the exchange. Also, I do not think there will be any other loss in transaction apart from the trading fees, unless you are withdrawing to a personal wallet where you will be charged withdraw fees. 

I will lose over $100 (1.5%) to Coinbase fees in order to withdraw. I need to know how to do it without paying the $100+ in fees.