BITCOIN Withdrawal fees

[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

[icon]

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.

[mrpapageorgio]

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.

[PD77]

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.

[2ndchance]

You can have the bitcoin withdrawal just sent to your wallet correct? No need to send it to exchange.

[Optional]

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

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.

[Optional]

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.

[PD77]

Using Coinbase for Crypto is like using AOL to get to the internet. It works but there are 100 better ways to do it.