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Buying and selling Bitcoin on Coinbase
Posted on 4/26/21 at 12:30 pm
Posted on 4/26/21 at 12:30 pm
Let's say the current price of Bitcoin is $55k.
When I go to buy some % it will show the price at like $55,390.
If I go to sell some it will show the price at like $54,780.
I've tried to calculate if this has anything to do with the fees charged and it never adds up.
Anyone have any idea why that is?
Let me clarify. This is for coinbase not coinbase pro.
This has nothing to do with the fees. When you preview the purchase or sell, it plainly lays out the fees. I'm talking about the purchase or sell price. There are no limit orders on coinbase.
It's just very suspicious that the price is always opposite of what would help me.
When I go to buy some % it will show the price at like $55,390.
If I go to sell some it will show the price at like $54,780.
I've tried to calculate if this has anything to do with the fees charged and it never adds up.
Anyone have any idea why that is?
Let me clarify. This is for coinbase not coinbase pro.
This has nothing to do with the fees. When you preview the purchase or sell, it plainly lays out the fees. I'm talking about the purchase or sell price. There are no limit orders on coinbase.
It's just very suspicious that the price is always opposite of what would help me.
This post was edited on 4/26/21 at 1:08 pm
8
Posted on 4/26/21 at 12:32 pm to Jerrysworld
quote:
Anyone have any idea why that is?
Price volatility. This ain’t the stock market
Posted on 4/26/21 at 12:40 pm to keakdasneak
I guess i should clarify that if I'm buying it, it is 100% of the time priced higher than the current price and vice versa when selling it. If it were volatility, it would be the opposite at least some times
Posted on 4/26/21 at 12:52 pm to Jerrysworld
Yes, it’s definitely not due to volatility... I feel like every time I make a transaction on Coinbase I’m paying a $50-$100 fee.
Posted on 4/26/21 at 12:53 pm to Jerrysworld
use a limit order and type in the exact price you want to buy/sell
Posted on 4/26/21 at 1:01 pm to Who_Dat_Tiger
quote:
Yes, it’s definitely not due to volatility... I feel like every time I make a transaction on Coinbase I’m paying a $50-$100 fee.
are you using Coinbase? or Coinbase Pro?
there are no fees on Coinbase Pro.
Posted on 4/26/21 at 1:04 pm to Jerrysworld
Use Coinbase pro instead of Coinbase. Much more like the normal stock market where you can set limit orders.
Posted on 4/26/21 at 1:05 pm to Jerrysworld
I believe what you are experiencing is what I've always referred to as "slippage".
Do some research and read up on "market orders" VS "limit orders", and "slippage".
Hope this helps.
Do some research and read up on "market orders" VS "limit orders", and "slippage".
Hope this helps.
Posted on 4/26/21 at 1:14 pm to Jerrysworld
Do yourself a favor and create a coinbase pro account. When you’re able to, transfer 100% of your funds to pro (its free) and begin trading on pro only. Trust me, you won’t go back, for many reasons.
Posted on 4/26/21 at 1:16 pm to Jerrysworld
Coinbase is pretty notorious for this. I think these are premium swings that they don't explicitly show. That is why I never buy/sell on the actual coinbase website. Move your funds to Coinbase Pro for buying/selling.
It is not volatility, just different prices for buying vs selling and Coinbase skims a little off the top.
It is not volatility, just different prices for buying vs selling and Coinbase skims a little off the top.
Posted on 4/26/21 at 9:06 pm to Jerrysworld
Unbelievable you guys aren’t’ on Voyager yet
Posted on 4/26/21 at 9:11 pm to hombreman9
do you earn yield there or just trade? suppose it's time
Posted on 4/26/21 at 9:26 pm to Jerrysworld
quote:
I guess i should clarify that if I'm buying it, it is 100% of the time priced higher than the current price and vice versa when selling it. If it were volatility, it would be the opposite at least some times
It’s the inefficiency of some of these markets. The bid/ask spread is relatively large. Even on Voyager there is a 1.2% spread as we speak. That’s insane compared to most equities.
Posted on 4/27/21 at 6:30 am to rocket31
I set it to transfer x amount monthly. I just got into it two years ago. Still on coin base, not pro.
Posted on 4/27/21 at 6:33 am to orangebeach38
copy. yea, I use cb pro to buy. much cheaper fees. the UI is not ideal but worth it for the fees
Posted on 4/27/21 at 7:12 am to Jerrysworld
As others said, it’s slippage. All about what the bids and asks are. This is bad on Coinbase because you can’t see the order book and see what available bids and asks are present, you just have to take what they give you. Get off Coinbase, you’re getting screwed.
Posted on 4/27/21 at 7:21 am to hombreman9
Whys it better?
Posted on 4/27/21 at 7:24 am to DownshiftAndFloorIt
No fees and generous interest compounding monthly.
Posted on 4/27/21 at 7:47 am to hombreman9
quote:
Unbelievable you guys aren’t’ on Voyager yet
voyager doesn't have an online exchange for PC. it's strictly a app/mobile option. not much better than regular ol' coinbase. i see that they are about to launch a beta, however.
coinbase pro is where it's at. the only thing i wish coinbase pro had was it's ability to setup auto-buy like regular coinbase has. other than that, the fees are free.
the one caveat to coinbase pro is you can't withdraw your deposit until after 5 days. i think that's because they want to make sure the bank clears the deposit first.
Posted on 4/27/21 at 7:48 am to rocket31
CB pro is a hell of a lot better than CB, but Kucoin is 1000x better than both and any exchange that is not Binance.
Unless you are staking specifically, do yourself a favor and send your btc to Kucoin. Much lower fees than CB pro, shite ton more tokens and pairings, bots, stop loss etc. Can also stake KCS on it and earn pretty good. Overall its just a much better exchange.
Unless you are staking specifically, do yourself a favor and send your btc to Kucoin. Much lower fees than CB pro, shite ton more tokens and pairings, bots, stop loss etc. Can also stake KCS on it and earn pretty good. Overall its just a much better exchange.
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