Coinbase does not rank among the cheapest platforms when taking into view all kinds of crypto exchanges, but a comparison is not quite easy as the range of services offered by the trading platforms can vary a good deal: Do they only offer trading cryptocurrencies against each other or also for fiat currency (USD, euro, etc.)?
Can the digital currencies only be traded on the platform or also be sent to external wallet addresses? At Coinbase, all of this is possible, while, on the other hand, their portfolio of cryptocurrencies is limited -although more are to be added soon.
For the individual trader, the most interesting aspect of assessing fees is how they relate to the transactions they use on a recurring basis. When calculating the total costs incurred, all the different types of fees must be taken into account:
Coinbase Fees for Deposits and Withdrawals
Coinbase does not charge any fees for SEPA transfers from European customers to their euro wallet or from their US customers for ACH transfers to their USD wallet on the crypto exchange. However, it takes a few days until the money transferred by these methods is available on Coinbase. Instant trades are possible when paid by card (for credit card use, look at the restrictions for European customers on the Coinbase support page; similarly for US customers), but they incur higher fees when buying cryptocurrencies (details in the next section).
For an outgoing SEPA transfer Coinbase charges a lump sum of 0.15 euros, outgoing ACH transfers are free.
Coinbase Fees for Buying and Selling Cryptocurrencies
European customers generally pay a fee of 1.49% when buying or selling cryptocurrencies if they use their euro wallet on Coinbase for these transactions. US traders effectively pay the same 1.49% rate when paying out of their Coinbase USD wallet or a linked US bank account.
In percentage terms, a higher fee can only be charged while using the euro or USD wallet, respectively, if a transaction is under $200. In this case, a flat fee applies, that is, however, disclosed before you execute the transaction.
The 1.49% fee is applied in the following way: If you want to buy Bitcoin for 1,000 euros/USD, then the fee is added, and the total charge for the trade would be 1014.90 euros/USD. When selling Bitcoins with a value of 1000 euros/USD, the fee is deducted from the amount you are paid, which means 985.10 euros/USD would be credited to your account.
Coinbase Fee when Paying by Card
If you use a credit or debit card for buying a cryptocurrency on Coinbase, at 3.99% the fee is notably higher than the one charged when paying out of your fiat wallet.
Coinbase Fee for Transferring Cryptocurrencies
Coinbase does not charge a fee for sending digital currencies to an external wallet address. What you usually have to pay when transferring your crypto assets, are network transaction fees, e.g. Bitcoin miner’s fees, passed through to you by Coinbase. These network fees are calculated by Coinbase on the basis of the given transaction and disclosed to customers before they execute the transaction.