Coinbase GDAX Transfer speeds

Status
Archived
Joined
Jan 2018
From
UK
Hi

im from the UK and have just opened a Coinbase and Gdax account. My plan is to invest in alt coins. So i would start with deposing £ into coinbase then transfer it to Gdax then buy BItcoin and transfer to an exchange like Binance to buy alt coins.

My question is would it better to buy Bitcoin or ETH on Gdax and then transfer it to Binance. Which one of the 2 will be quicker and cheaper at transferring?

Thanks
 

evo

Site Admin
Joined
Apr 2017
The quickest/cheapest method would be sending ETH from Coinbase to Binance.

If you already have BTC in Coinbase, send it to your GDAX account and trade the BTC/ETH pair. I would do the transfer to Binance from Coinbase, not GDAX. There is no cost/fee to transfer funds between your Coinbase and GDAX accounts since they are owned by the same company.

Compared to ETH, BTC has a higher gas fee and slower transaction time.

Incidentally, ETH withdrawals have been temporary disabled on Coinbase since yesterday evening. Hoping this functionality gets restored sooner than later.

Let us know if you have any questions. Happy to help.
 
Joined
Jan 2018
From
UK
The quickest/cheapest method would be sending ETH from Coinbase to Binance.

If you already have BTC in Coinbase, send it to your GDAX account and trade the BTC/ETH pair. I would do the transfer to Binance from Coinbase, not GDAX. There is no cost/fee to transfer funds between your Coinbase and GDAX accounts since they are owned by the same company.

Compared to ETH, BTC has a higher gas fee and slower transaction time.

Incidentally, ETH withdrawals have been temporary disabled on Coinbase since yesterday evening. Hoping this functionality gets restored sooner than later.

Let us know if you have any questions. Happy to help.


Hi Thanks for your reply. From what i have read Coinbase charge 4% when buying Bitcoin or ETH, so if i deposit say £500 then use that to buy bitcoin or ETH on coinbase then they will charge me 4%, Then if i transfer the bitcoin or ETH to Binance there will be another fee and then on binance when i use the bitcoin to buy altcoin another fee.

Whereas Gdax only charge .25% so i was thinking of Depositing £500 into coinbase then log into Gdax and transfer that £500 over (no fee) then buy Bitcoin or ETH and pay .25%. Then transfer it to Binance.

Have i got the coinbase / gdax fees correct ?

Thanks
 
Status
Archived

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