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Hey there! I recently logged back into my old Coinbase account after five years. Got hacked back then and lost a lot, but surprisingly, there are still some coins left. Trying to get back into trading, but what a pain with these fees...!
T Posts: 79 · Reputation: 4721
Welcome back! Coinbase can be a real pain with those fees, especially if you’re just trying to make small profits. You might wanna explore some other exchanges that offer lower fees.
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Yeah, I feel you. Just did some paper trading with $100, aiming for a $5 profit, but the fees just eat into it. Makes you wonder how they profit so much while we take all the risks!
Cr Posts: 162 · Reputation: 28
You’re not alone. Those fees can be killer. Just a heads-up though, if you're not a US citizen, KYC processes can be a hassle on Coinbase.
B Posts: 55 · Reputation: 8
Wow, really? I thought it was pretty straightforward. I already figured out the email setup but the fees are what's really holding me back.
0x Posts: 337 · Reputation: 188
You gotta consider moving your crypto out of Coinbase if you’re worried about security. Since it’s been compromised before, better safe than sorry!
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Honestly, becoming a maker in trades might help reduce fees a bit, but it won’t be a huge change. Exchanges really rake it in through fees, especially swaps.
Th Posts: 119 · Reputation: 44
Man, it sounds like you need to focus on building your capital first. Small trades won’t get you far unless you have a decent amount to work with.
S Posts: 66 · Reputation: 39
I’m confused, are you asking for advice on trading strategies or just venting about fees? We need to know what you want to achieve.
De Posts: 7 · Reputation: 230
#10 Jan 20, 2018, 05:30 AM All this talk about fees is interesting, but are they specifically about trading fees or gas fees? That could change the whole picture.
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#11 Jan 20, 2018, 07:27 AM For real, the fees on your strategy are what you should be targeting. If you're just making $5 here and there, those fees can make or break you.
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#12 Jan 20, 2018, 07:33 AM Check out Mitch Ray on YouTube. He’s pretty straightforward with trading advice and doesn’t push any deals. Been following him for years.
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#13 Jan 20, 2018, 09:22 AM Thanks for the suggestion! I’ll check him out. Trying to find someone real who knows their stuff without all the flashy gimmicks.
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#14 Jan 20, 2018, 09:50 AM Your capital is too small to see real profits, man. Focus on building that up and take the time to learn the market before diving in too deep.
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#15 Jan 20, 2018, 02:53 PM Totally get what you mean. Remember when Bezos was laughed at for not making money? Sometimes it’s about patience and building something bigger.
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#16 Jan 20, 2018, 06:28 PM You should definitely withdraw your funds from Coinbase and either trade them on another platform or keep them in a private wallet. Safety first, right?
Fo Posts: 44 · Reputation: 2168
#17 Jan 21, 2018, 12:03 AM Have you thought about using an ETF or no-fee brokerage instead? That could save you on fees significantly.
N Posts: 25 · Reputation: 1
#18 Jan 21, 2018, 12:11 AM Yeah, that could work. Sell your BTC on Coinbase, then fund a brokerage account for trading. Might be a smart move.
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#19 Jan 21, 2018, 12:58 AM Not sure what your end goal is, but if it’s just to make a few bucks, you might need to rethink your approach. The market’s unpredictable.
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#20 Jan 21, 2018, 08:48 PM Starting from scratch with small amounts is risky. Just be careful with those altcoins and keep your expectations realistic.