Coinbase and Coinbase Pro both are well-known cryptocurrency exchanges in the world that offer seamless crypto transactions at a visibly fast rate, but how much are the transaction fees?
Coinbase Global Inc manages both these exchanges, letting users and seasoned investors purchase, trade, and sell cryptocurrencies on its platform. While there are no fees to transfer between Coinbase and Coinbase Pro, other transactions like Coinbase to MetaMask or Coinbase to PayPal do incur a slight charge.
Let's look at Coinbase and Coinbase Pro's transaction fees to determine which platform is suitable for users to conduct smart crypto transactions.
Coinbase Transaction Fees
According to the official Coinbase blog post, "fees transacted on cryptocurrencies are calculated at the time a person may place an order and may be determined by a combination of factors including the selected payment method, the size of the order, and market conditions such as volatility and liquidity."
As per multiple sources, Coinbase charges 0.50% per trade as its fee, along with a 3.99% charge for purchases made by the credit card. Coinbase further charges 1.49% as a fee to let users access the exchange wallet or bank account purchases.
The exchange supports 107 cryptocurrencies, and allows users and investors to buy, sell, and exchange crypto in a simple manner, alongside hosting Coinbase quiz and adding new Coinbase listings to solidify its base in the crypto market.
Coinbase Withdrawal Fees
According to Coinbase, the exchange levies 1% of the transaction fee to convert and withdraw your crypto in cash. It is to be noted that a separate network fee will also be levied.
The exchange further states that a withdrawal fee is a mandatory feature of the exchange and keeps on fluctuating depending upon the exchange rate. However, they are always charged under $0.10
Coinbase Pro Transaction Fees
Unlike the base version of Coinbase, Coinbase Pro gives users a more concrete look at the fees they will pay depending on the order amount. Putting it simply, the fees reduce the larger the amount. Coinbase breaks down the Taker Fees as follows:
- Under $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 - 0.04%
These volumes also have differing maker fees that are slightly lower than the taker fees when over $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 to 250+ cryptocurrencies while delivering secure transaction processes. These include two-step verification, biometric fingerprint logins and insurance in the event Coinbase is breached.
However, in a bid to expand its operations, Coinbase will now be replacing its pro division and has decided to merge it with the Advanced Digital trade option.
This will allow users to efficiently access all features of coinbase without the need to switch between multiple apps.