Avoiding/Minimizing Coinbase Fees

Alright, now I know it has been a little while since I lasted posted, but I promised that this one would be on avoiding and/or minimizing your Coinbase Fees.

If you're new to the cryptocurrency world, in particular Bitcoin, you've probably noticed that if you want to send $5 of BTC to your cousin that it cost you anywhere from $5-10 on a $5 transaction.

So, what can you do? Easily Coinbase happens to own GDAX, a trading platform that freely exchanges Coinbase wallets to the exchange. Alternatively, you can easily minimize fees by buying and sending alternative coins such as Litecoin or Ethereum, though the latter appears to be facing an uptick in mining fees lick Bitcoin has of late.

A Word of Caution

Now, I know some might be interested in investing in certain ICO's that ask for payment in a particular coin, in which case if there is a problem sending payment from GDAX, they should (1) notify you NOT to send money from an exchange, and (2) provide you clear directions for sending payment.

How do I get money into GDAX?

Easily enough if you have a Coinbase account setup, then you already have a GDAX account and simply need to sign in to it using your Coinbase credentials. Next you simply select your coin and click deposit and are presented with deposit options, if using Coinbase (which I advise you do) then select coinbase and enter the amount to transfer. Similarly, to withdraw you select "withdraw" and then either send it back to Coinbase or to your desired Wallet or where you are sending your payment.

Hope this was helpful. Until next time.

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