BITCOIN Withdrawal fees

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  • Ant23
    Restricted User
    • 02-14-19
    • 492
    #1
    BITCOIN Withdrawal fees
    I was scrolling through my account and noticed that my very 1st bitcoin payout from Bovada was free but COINBASE charged $14 on a $1k transaction? Is it a % fee or how is the fee calculated? Thanks in advance........I'm still thinking about that pony race that I lost yesterday
    Tags: None
    • icon
      SBR MVP
      • 01-09-18
      • 3404
      #2
      Originally posted by Ant23
      I'm still thinking about that pony race that I lost yesterday
      Imagine how the owners/jockey/trainer/connections to the horse feel. I'm sure it will take them a lot longer to get over that bad beat.
        Comment
        • mrpapageorgio
          SBR MVP
          • 09-07-17
          • 2974
          #3
          Originally posted by Ant23
          I was scrolling through my account and noticed that my very 1st bitcoin payout from Bovada was free but COINBASE charged $14 on a $1k transaction? Is it a % fee or how is the fee calculated? Thanks in advance........I'm still thinking about that pony race that I lost yesterday
          Was it to sell the Bitcoin? If yes, Coinbase charges a fee to sell it. If not, there might be a small difference in the price between the price Coinbase has and what Bovada calculated.
            Comment
            • PD77
              SBR MVP
              • 12-11-09
              • 2381
              #4
              Only fee I know of is converting BTC to USD and vice versa. Most likely it’s what papageorgio said, a difference in BTC price between the exchanges or the normal price fluctuations. It’s the price of doing business with bitcoin unfortunately.
                Comment
                • 2ndchance
                  SBR MVP
                  • 02-14-17
                  • 1056
                  #5
                  You can have the bitcoin withdrawal just sent to your wallet correct? No need to send it to exchange.
                    Comment
                    • Optional
                      Administrator
                      • 06-10-10
                      • 60937
                      #6
                      Originally posted by Ant23
                      I was scrolling through my account and noticed that my very 1st bitcoin payout from Bovada was free but COINBASE charged $14 on a $1k transaction? Is it a % fee or how is the fee calculated? Thanks in advance........I'm still thinking about that pony race that I lost yesterday
                      Let me google that for you

                      Just a moment...
                      https://support.coinbase.com/customer/en/portal/articles/1826294-how-are-fees-applied-when-i-buy-or-sell-digital-currency-


                      Oh look. a 1.49% fee.

                      $14.90 on $1000.

                      You can find full details of their fees here




                      BTW, if you want to lower the fee, you can perform the trade yourself and that costs 0.5% on the COinbase Pro exchange.
                      Last edited by Optional; 05-06-19, 03:31 AM.
                      .
                        Comment
                        • Optional
                          Administrator
                          • 06-10-10
                          • 60937
                          #7
                          Originally posted by 2ndchance
                          You can have the bitcoin withdrawal just sent to your wallet correct? No need to send it to exchange.
                          Correct. And if you are withdrawing from a bookmaker you should send it to a wallet you own the private keys for, before on sending to an exchange anyway.
                          Last edited by Optional; 05-06-19, 03:35 AM.
                          .
                            Comment
                            • PD77
                              SBR MVP
                              • 12-11-09
                              • 2381
                              #8
                              Using Coinbase for Crypto is like using AOL to get to the internet. It works but there are 100 better ways to do it.
                                Comment
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