Author Topic: Limiting Crypto Fees  (Read 691 times)

triple7stash

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Limiting Crypto Fees
« on: June 14, 2021, 09:25:34 AM »
Hi All,

Looking to slowly allocate 1-3% of my NW into crypto. I知 still currently working and would like to put a small amount in each month, similar to recurring 401k contributions. That being said, I知 relatively new to this space. I知 looking for a simple way to do this, however it seems the simpler the option the higher the fees (e.g. Coinbase). Any suggestions or what methods are mustachians using? Are the fees for Coinbase/Pro too high?

TheAnonOne

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Re: Limiting Crypto Fees
« Reply #1 on: June 14, 2021, 10:28:46 AM »
Hi All,

Looking to slowly allocate 1-3% of my NW into crypto. I知 still currently working and would like to put a small amount in each month, similar to recurring 401k contributions. That being said, I知 relatively new to this space. I知 looking for a simple way to do this, however it seems the simpler the option the higher the fees (e.g. Coinbase). Any suggestions or what methods are mustachians using? Are the fees for Coinbase/Pro too high?

Wait until you start paying ETH gas.

If anything, just use PRO, or swap to another exchange, there is no free lunch here unfortunately.

lifeanon269

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Re: Limiting Crypto Fees
« Reply #2 on: June 14, 2021, 12:09:55 PM »
You can use SwanBitcoin.com to make regular automatic purchases ($50/week) from your bank account and if you sign up for regular purchases like that and prepay fees for the year, you get access to a 0.99% fee rate. If you don't prepay fees for the year, the fee rate is 1.19% (still pretty low). I think they're one of the better services for purchasing bitcoin on a regular cadence with very low fees (a lot of other places charge 1.5%+). Just set it and forget it basically.

triple7stash

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Re: Limiting Crypto Fees
« Reply #3 on: June 14, 2021, 11:39:38 PM »

Wait until you start paying ETH gas.

If anything, just use PRO, or swap to another exchange, there is no free lunch here unfortunately.

ETH gas? So essentially, your just saying sign up for Coin Base PRO and eat the fees?

Juan Ponce de Len

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Re: Limiting Crypto Fees
« Reply #4 on: June 15, 2021, 02:56:20 AM »
Compared to brokerage fees for stocks and ETFs in Australia, the crypto fees are miniscule.  Usually a matter of cents not dollars.  ETH fees are criminal, but that's only if you choose to transact on the ETH network.  You can hold ETH the coin without paying a cent in ETH gas fees.  There's plenty of alternatives and honestly, if you're just looking to buy and hold the basic tokens like BTC, ETH etc on a solid exchange like Binance, there's very little fees to pay.