Why is Coinbase more expensive than other exchanges?


#1

Do you guys know why Coinbase is like $250 more expensive than Bitfinex and Bitstamp?
Capture


#2

I saw this as well. It seems that Coinbase wants to gouge those who are trying to get in on the cheap days. They were also quoting ETH at $300+ when other exchanges had it around $277. I guess you could move stuff over to them and sell to make a quick buck.


#3

they pocket the difference


#4

I’m not using coinbase, never have and never will.
I understand that they have to make a profit… but “B” please…


#5

It’s not normal, I’ve never noticed a difference that big before.


#6

It’s normal… USD is taking the DOOODGE style … :smiley:


#7

Ive started using bitstamp anyways. No idiotic $500/week limit and lower fees. The fee is lower than coinbase as long as you buy a good amount at once. It’s at 5% for a $2,500 card purchase. Coinbase hits you with 4% plus apparently higher coins and then your bank hits you with a foreign transaction fee because the morons use an international credit card processor despite being based in San Fran. Causing all US customers international fees for no reason.

Also, I had a technical issue hooking up my bank account with them and they have not resolved the issue after more than a month. Their customer service is non-existent.


#8

I tried this a couple of months ago, they’ll have you buy at the display price on their apps. but when you sell it they do a web search for the lowest price.


#9

Coinbase/Gdax is always more expensive because its the price that American citizens actually pay for bitcoins at coinbase. The increase is like a retail markup.


#10

I find that coinbase is actually the cheapest option i have here in canada, i use only coinbase and coinsquare which is $200 more expensive than coinbase and slightly higher fees, but atleast they let me convert higher amounts of fiat to btc unlike coinbase. I’m limited to 250 a week in coinbase. waiting 22 more days for the limit to increase lol.


#11

Yeah cheapest option for me as well in Canada. Coinsquare is a couple hundred more like you said as well as Quadrigacx which is 300+. Crazy price differences!


#12

While one may not like the price inflation. We must understand that we’re paying for the service. And. The service is good. Especially for new people into the space.

It also allows for people to get into crypto faster, which is what I care about most.

As people learn, they can find other options. This strengthens the neural net and ecosystem of bitcoin.

Expand. Let us expand. Let’s do it bigger.


#13

I finally got my technical issue resolved that started the first day I tried to buy bitcoin around July 15th.

It says that whatever I buy via Bank Account will not be available until the 22nd. Is the price locked in?


#14

They are insured!!! The only exchange that I know of. Get what you pay for. Sell here don’t buy here.


#15

They are insured! No one else is


#16

yes, as long as you made the purchase direct to wtv coin then it’s locked in


#17

Coinbase prices are market averages and not spot price. In order to get spot price you need to move it to GDAX where you can put in an order at what ever level you are willing to pay, but as @peter stated this is a more advance option and the Coinbase route is easier and faster which helps with new user adoption. When ever you make something easier and faster you typically incure a higher cost.

There is an old saying I used to see on a poster. “Pick two - Fast/Cheap/High Quality” Meaning typically only two of those can ever be achieved at once meaning the third is sacrificed. Despite growing pains Coinbase has provided a high quality service to my friends, family and I. The service has also been fast. Cost to be honest in the long run I don’t care.


#18

Doesn’'t make any sense. I buy LTC at GDAX for $190… I send it over to Binance - where it is worth $180 (cause binance always has lower prices due to higher volume). I ALWAYS lose $10 per LTC.
Same for ETH and BTC.
Binance will not allow FIAT deposit.

So - no, one does not get a ‘fair’ price on Coinbase or GDAX


#19

Use NTRUST…from Vancouver…$3.00 FEE to move $100 of bitcoin to binance


#20

I’ve totally noticed this to bro.
Many are simply using GDAX for all withdrawals, ext. This cuts the fees down in a major way.
It’s the same login as your Coinbase.
Yes i know, prices are higher but they are hopefully working on this.
Coinbase maybe actually hurting the industry charging new customers high rates and fees.
Bianance is way better in my honest opinion.
If you must use Coinbase, try using GDAX and setting Limit orders to be a Maker at sometimes zero fee’s.
GL