1. Coinbase recommends me to have vault. Is it really important to get that? What are the pros and cons? 2. The minimum charges at Coinbase are 1.5% if you fund through bank account. However I was thinking of doing through GDAX to save on transaction fees. Suppose I put a buy order of 1000 LTC/USD at the time when LTC was $40. 2.1 Will this only execute if I get seller(s) who have a sell order of 1000LTC/USD or more? Also what is the timeout after which this won't be executed. 2.2 Also suppose the transaction got executed after 10 minutes by when the price changed to $35. Will My buy order be at $35 or $45?
A vault means you cannot withdraw your coins quickly, i.e. more secure because if your account gets hacked, the attacker can't withdraw your funds immediately. Whenever there is a withdraw request, they will contact you by phone, email and delay the withdrawal for couple of days so that it won't be any easy task for hacker. BTW, I never used vault. I always withdrew to my paper wallet.
1. more secure. I just do Google authenticator (remember to write down secret code) 2. accidently did limit orders too close to price point and got hit with $20 in fees. other transactions went fine. coinbase locks in price at confirmation screen, almost instant. you'll get coins in about 1 week. 2.1 coinbase buys are directly through coinbase. gdax is from other users. you can do good until cancelled orders. 2.2 $35, it's locked in on confirmation page on coinbase.
I think they should be profitable very soon. They get 1.5-4% irrespective of whether of the market.
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I tried doing that, it is so hard being a maker. How do you price your limits? How long do you wait for that trade to go through?
Sorry for not being clear, I meant, what time range is "moment"? I do look at the current buys and I place it Somé ahead but I still get charged a fee