#33kByJuly3018Moku //not_giving_away_ETH\\ - @CarpeNoctom3 days ago
RT @IamNomad: Coinbase quietly raising its fees effective 3/22. also decreasing tick size and max order sizes, Adding a primitive form of market protection to prevent 10% moves from single market orders(ie eth disasters) and replacing stop-market order with stop-limit.
This changes my scalping strategy that does well over 50x over 60 days and now the same strategy makes only 3.3x in 60 days. There will be lots of folks leaving. Every trade loses .3% automatically, meaning you have to sell at a higher price just to break even. Although this was true of other exchanges, a little more time to react would have been nice.
"New fee structure that is designed to increase liquidity by reducing the delta between maker and taker fees"
And the fee table actually shows maker fees up.
I really want to know what their definition of liquidity is.
If increasing liquidity was the real goal, then liquidity on both sides would be enhanced by keeping taker fees where they are and reducing maker fees to a point where there would be a rebate for maker flow, like on other exchanges.
This is a thinly disguised backtrack from the no maker fee premise that other crypto exchanges did not match and so Coinbase realized they were leaving money on the table fixed the problem.
Feeless once you are in it, and buying with it from the 4 quirky internet merchants that take it, but to upload that fiat, Coinbase was the way, and now you have to jump through their stable coin and Binance hop, and still pay a fee to trade in, and another 0.1 nano to withdraw from Binance, so Fee World is still a thing.
Source - I have big nano bags, but my hopeium is starting to running low. If only there was a sign that RL people actually wanted to leave Credit Card World !!
Burnquist19 - 10 years account age. > 1000 comment karma.3 days ago
Besides taxing the poor, I think a lot of this is to prevent excessive volatility from the OTC market.
I use them because they are Cheap. If you are not 100 % believing in this whole Moon / Lambo thing, you may not want to burn up your capital on trading fees. Yea, if Bitcoin goes to 10 milli a coin, like youtubers think, then who cares about a 4 % fee, but if this thing just meanders and Barts around mehville, I may want to just go back to stocks, without burning up my money on crypto banker fees, which, in the end, are pretty much the same as the old banker fees we came here to avoid by being our own banker...
drasalitosCrypto God | QC: BTC 78, CC 303 days ago
Once the SEC makes a definitive ruling in regards to this space and opens the doors to crypto securities trading, more big-time players will enter this market - but for now it’s just the OG crypto startups continuing to pioneer...
Thanks for clearing that up for us, its still cheaper than bit stamp.
Though I only transferred all my XRP to coin base pro because day trading with limit orders was free compared to 0.24%
I might just go back to Bitstamp as they have better features.
I checked them out, they are also ending 0 % maker fees at about the same time Coinbase is (!!) The new fee is 0.05 % if you pay the fee in their crypto. This is better than Coinbase, but there is a problem, Liquid charges a HUGE $40 fee for a fiat withdrawal. That basically makes Liquid half a Coinbase, the onramp half. If you want to offramp, you better ask if your local Lambo dealership takes Bitcoin, otherwise you will need two exchanges, if you ever want to get back to dirty DIRTY fiat...
We do not charge fees for crypto withdrawals.
For fiat withdrawals, we collect a small withdrawal fee, as follows:
USD: 5 USD
SGD: 5 SGD
EUR: 5 EUR
AUD: 5 AUD
Your payment processor charges:
For USD, AUD, SGD & EUR outside SEPA:
Payment processor: Swapforex
Fee: 35.25 USD equivalent per transaction"
There is no way in hell I would ever pay $40 for a withdrawal, unless I had no other possible choice. Apparently most of that fee is from a third party they work with, I honestly don't care where this or that fee came from, only that you get that huge ding every time you withdraw !