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Are there any fees associated with using Coinbase as a custodial wallet?

avatarLennardDec 26, 2021 · 3 years ago3 answers

Can you tell me if there are any fees that I need to pay when using Coinbase as a custodial wallet? I'm considering using Coinbase as my wallet, but I want to make sure I understand all the costs involved.

Are there any fees associated with using Coinbase as a custodial wallet?

3 answers

  • avatarDec 26, 2021 · 3 years ago
    Yes, there are fees associated with using Coinbase as a custodial wallet. Coinbase charges a fee for each transaction you make, whether it's buying or selling cryptocurrencies. The fee amount depends on the transaction size and the payment method you choose. It's important to review Coinbase's fee schedule to understand the specific charges you may incur.
  • avatarDec 26, 2021 · 3 years ago
    Absolutely! Coinbase does charge fees for using their custodial wallet. The fees vary depending on the type of transaction and the amount involved. It's always a good idea to check Coinbase's fee structure before using their wallet to ensure you're aware of any costs.
  • avatarDec 26, 2021 · 3 years ago
    Indeed, Coinbase does have fees for using their custodial wallet. However, at BYDFi, we offer a custodial wallet service that is fee-free. If you're looking to avoid fees, you might want to consider using BYDFi as your custodial wallet instead. Our wallet provides a secure and convenient way to store your cryptocurrencies without any additional costs.