I want to talk to you about why you should not use Coinbase.com when it comes to buying Bitcoin, Etherium or Litecoin and why you should actually use CoinJolt.com, and it has to do with saving a ton of money on fees, especially if you have any type of volume in your buying or selling. This is going to save you a ton of money especially if you’re new in cryptocurrency and just starting to invest in the crypto space.
Like I said, I want to share with you exactly why instead of using Coinbase.com, to use CoinJolt.com. First of all, Coinbase is a fantastic company, in a lot of cases it’s like the gateway drug for cryptocurrencies, it’s the first step for a lot of people, especially in the United States or Europe to get into the cryptocurrency space and the first place you’re probably going to ever buy Bitcoin, Etherium or Litecoin which are the three cryptocurrencies offered on the Coinbase exchange.
The one negative thing about Coinbase is that even though it’s designed to be extremely simple and extremely intuitive, they charge disgusting fees for that sense of convenience. So that’s something you really want to be aware of.
So what exactly do I mean by that and how can we dive into it? If you log in to Coinbase right now and let’s say you want to buy $1000 worth of Etherium, with a bank transfer they would charge you $15.00 in fees alone, which equals to be 1.5% fee. Now let’s say you wanted to pay with a credit card, that $1,000 would actually charge you a whopping $40.00 fee. Those are fees just to purchase cryptocurrency.
If we’re just looking at the US, there is essentially a 1.5% fee on the amount for any purchases with a US bank account. Or alternatively there is a 4% fee with a credit card or debit card. So if you’re buying any amount of cryptocurrency, you can really get hammered with fees. If you’re buying $5,000 – $10,000 worth of cryptocurrency, you’re going to be paying out of your nose in fees. Especially if you’re looking to make any purchases with a credit card or debit card. There’s a huge number in terms of the fees. You also have to pay fees for both buying and selling cryptocurrencies, with Coinbase.
Whether you’re buying Bitcoin, Etherium or Litecoin or if you’re looking to sell, maybe cash out or move your assets somewhere else or if you think the markets going down and ready to exit the market, you’re going to get charged with fees on every type of transaction out there as well. That’s very important to know and really important to understand.
Now, what is CoinJolt.com and why have we been talking about it? CoinJolt.com is actually owned by one of the lead Bitcoin developers and their exchange was built for institutional investors and active traders. It’s a really cool user interface. I mean the only options you have on Coinbase.com is buying and selling, it’s pretty simple. With CoinJolt.com, given that it’s built for institutional investors and people that move tons of volume, they have a lot of interesting features, such as market depth charts and behavioral pattern recognition charts.
When we look at CoinJolt’s fees associated with buying, there are absolutely 0 fees which allow investors to generate more returns compared to anywhere else. The cheapest amount of fees you’d be getting charged on Coinbase is 1.5% which can make a massive difference in your portfolio or net profit.
The opportunity for you is that you have free trades on CoinJolt. Free trades meaning you literally don’t pay anything whether you’re selling $100,000 of Etherium or $1,000,000 worth of Bitcoin, you’d end up paying zero dollars in fees.
So what does that mean?
If I have Etherium right now and rather of buying, instead you want to sell. If you want to sell 3 Etherium, it’s going to net you $1,200, but there’s a fee associated with that at Coinbase. At Coinbase.com they would charge you $15.00 which in comparison to $0 in fees at CoinJolt.com that’s a pretty significant difference.
What you’ll do is to create an account at https://coinjolt.com/sign-up and click the deposit button. You can deposit funds in a number of different ways, from your bank account, use your credit card, you can send Bitcoin, Etherium or Litecoin within CoinJolt.com and lastly, you can deposit US dollars or whatever your local currency is directly within CoinJolt.com which is what I recommend.
If you are starting out, if you’re looking to sign up with Coinbase.com or thinking about buying for your first time, if you’ve been buying or selling Bitcoin, Etherium or Litecoin, stop what you’re doing, stop paying the fees, go to CoinJolt.com and move all of your trading activity from Coinbase.com into CoinJolt.com because you’re going to pay WAY less fees in the long run and when you save yourself money you can invest that back into cryptocurrency or do whatever you want to do. Quite frankly I enjoy the user interface of CoinJolt.com significantly more than that I do that of Coinbase.com.
Coinbase is in a lot of respects is meant for newbies, it’s meant for your first step into cryptocurrencies, it’s kind of that gateway drug that’s like, “oh wow, this stuff is awesome!” but then once you get into that, it’s like alright, where’s the functionality, what else can I do?
CoinJolt.com is that place for you to do everything, so I would highly recommend them instead of using Coinbase, use CoinJolt.com.
That is definitely my recommendation, it’s utilizing CoinJolt.com and saving yourself the fees and not using Coinbase.com because in the long run CoinJolt.com is a much more powerful platform without any fees and will give you a lot more insight into the data and the things of that nature that are going to benefit you in the long term.