how to trade on coinbase without fees

By creating a Coinbase Pro account and utilizing limit orders strategically, you can significantly reduce your trading fees and maximize your profits when buying or selling cryptocurrencies.

Nov 23, 2024 at 07:58 am

How to Trade on Coinbase Without Fees

Trading on Coinbase can be a great way to buy and sell cryptocurrency, but the fees can add up quickly. If you're looking to save money, there are a few things you can do to trade on Coinbase without fees.

1. Use a Coinbase Pro account

Coinbase Pro is a trading platform that offers lower fees than Coinbase. To use Coinbase Pro, you'll need to create a separate account. Once you have a Coinbase Pro account, you can transfer your funds from Coinbase to Coinbase Pro. Then, you can start trading without fees.

2. Use a limit order

A limit order is an order to buy or sell a cryptocurrency at a specific price. When you place a limit order, you specify the price at which you want to buy or sell the cryptocurrency. If the market price reaches your specified price, your order will be executed. Limit orders are a good way to avoid paying fees because they only execute when the market price is favorable.

3. Use a stop-limit order

A stop-limit order is a type of limit order that is triggered when the market price reaches a certain level. When you place a stop-limit order, you specify the trigger price and the limit price. If the market price reaches the trigger price, your order will be converted into a limit order at the limit price. Stop-limit orders are a good way to protect your profits or limit your losses.

4. Use a market order

A market order is an order to buy or sell a cryptocurrency at the current market price. Market orders are executed immediately, so you don't have to worry about waiting for the market price to reach a specific level. However, market orders can be more expensive than limit orders because they are subject to the market maker fee.

5. Use a Coinbase referral link

If you sign up for Coinbase using a referral link, you can get a $10 bonus in Bitcoin. This bonus can be used to offset the cost of trading fees. To get a referral link, you can ask a friend who already uses Coinbase or you can find a referral link online.

6. Use a cryptocurrency exchange that offers low fees

There are a number of cryptocurrency exchanges that offer lower fees than Coinbase Pro. If you're not happy with the fees on Coinbase Pro, you can try using a different exchange. Some of the most popular exchanges that offer low fees include Binance, Kraken, and Gemini