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0 pointssuperfrank5y ago0 comments

> Many Stock brokers like Webull let you buy crypto, but you can't transfer them to your wallet or use them to make purchases.

Fair, but I feel like most people I know aren't using crypto as a currency right now. They're more interested in holding or speculating on the price, so transferring to another wallet is a non-issue.

> Also, they claim no fees, but they add the fee to the spread (the spread is artificially increased to 1% both ways (2% total))

I'm not up to date on Coinbase's latest fee structure, but I think 2% still may be less than, or at least comparable, to what they are charging. Even if it isn't, the illusion of no fees will attract a certain amount of people.

> especially if you trade a substantial amount each month

Do people trade a lot using Coinbase (serious question)? I was under the impression that there were better platforms out there more suited to day/swing trading crypto.

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3 comments · 1 top-level

Black1015y ago· 2 in thread

The maximum that you can get charged at Coinbase is 1% for a buy & sell transaction pair (0.5% each way), if you don't trade much... so half of webull : https://i.imgur.com/IohYn4o.png

But it goes down quickly. It gets cut in half if you trade $50k/month and goes to down to 0% if you trade a lot.

superfrankOP5y ago

That's not including the credit and debit card fees though, right?

It's been a while since I've used Coinbase, but I feel if you want to just buy a small amount of crypto, the total fees can be up to like 10%.

Alupis5y ago

You mean Coinbase Pro, not Coinbase.

Coinbase charges 2.5% to purchase.

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