Hey guys, Matt here with Crypto Blick. Just wanted to say a quick hello and good morning. Hope you’re going outside enjoying this nice weather here today.
So this is going to be a quick video on cryptocurrency fees when you’re buying crypto. I was having a conversation with a friend of mine and talking about different platforms. I did the research and was like “Ok, might as well put a quick video out on the fees to watch out for when you’re buying crypto.”
For some of you it may not matter, but for those of us who like to buy crypto and want to get the most bang for our buck. I’m going to talk about Coinbase, Kraken and the Cash App for today.
As you can tell, the market is doing well at $5,326 per Bitcoin. I’m not going to talk about trading and Wedges and Head-And-Shoulders. There are plenty of guys on YouTube who are already doing that. Anyways just want to show you where the market was at today.
On Coinbase… here’s a quick way to do it. Coinbase has roughly a 1.5% Taker Fee. Let’s say I did a $1,000 transaction, then click “Review,”… so right now it’s going to be $14.68 dollars for the Coinbase Fee. You can also go to the help desk and get more detailed information on that aspect. I won’t go over that in detail.
Anyways you can see right there what it would be to purchase a $1,000 worth of BTC.
Kraken. So, you’re going to see Kraken… their fees are as low as 0%. This is based on volume-based schedules. So it depends on how much you order and use within a thirty-day time frame.
Scroll down here most of us and most of my audience is going to be in this 1st Tier $0 to $50,000… your Maker Fee is 0.16%. Your Taker Fee is going to be 0.26%. As of right now as a recording this video.
What’s a Maker or a Taker Fee?
If I go and buy Bitcoin that’s incurs a Taker Fee. A Maker Fee is if I sell Bitcoin to the Exchange. That’s why the prices are different. That 0.26% is what you’re going to be looking at on Kraken.
Kraken is actually my favorite. While I have a referral code on my site for Coinbase… I did want to review platforms based on your needs, based on functionality,… Coinbase is very easy to use and they have an app that allows you to buy and trade on the Exchange and pull the crypto off of their Exchange as well through their apps. Super easy.
Also use Coinbase Earn and you can get cryptocurrency that way.
I’m going to jump here right now real quick on the Cash App and show you. You’re going to see it pop up and see stocks. Go over to Bitcoin. Click “Buy.” And do… actually I’m going to show you $1,000, just for the same comparison.
Next it’s going to show you here… for the BTC amount at the moment, the fee is $18.04 at the at this moment. You’re looking at a 1.8% on the Cash App. You’re looking at a 1.5% roughly on Coinbase and then of course on Kraken is 0.26% for that Taker Fee.
Once again Kraken is my favorite and that’s what I recommend going with.
Alright guys, so that is it for this video. Like I said, let’s just to recap what we just talked about… so Coinbase you’re at 1.5%, Kraken your 0.26% and at Cash App you’re at 1.8%.
Keep that in mind when you’re buying your crypto.
I do know the Cash App is super easy to buy crypto. You can pull your crypto off of the exchange and put it into your own hard Hardware wallet or your Mobile wallet. With Kraken, it’s the same way. Kraken is a little bit more detailed and takes a little bit of time to get verified. But it’s still a great place to use, especially for the fees.
And then also Coinbase. Coinbase is very easy to use they also have an app you can pull the crypto off of the Exchange or through their browser platform. So depends on what matters to you the most, what’s easier for you to get on.
What I prefer right now is Kraken and that’s where I go to buy crypto. I’ve had other people use the Cash App and I started on Coinbase. It just depends on what you want to use.
Anyways, in the end, Kraken is my cup of tea.
Hope you guys got some valuable information from this. Get outside and like I said, get some fresh air in your lungs and enjoy that sunshine and vitamin D. Stay tuned for the next video.