Coinbase/GDAX questions

Yahoo
FakeDonald

Go to company page Yahoo

FakeDonald
Jun 19, 2017 7 Comments

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?

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TOP 7 Comments
  • Yahoo
    FakeDonald

    Go to company page Yahoo

    FakeDonald
    OP
    I think they should be profitable very soon. They get 1.5-4% irrespective of whether of the market.
    Jun 20, 2017 0
  • Facebook / Other
    nvm

    Go to company page Facebook Other

    nvm
    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.
    Jun 19, 2017 0
  • 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.
    Jun 19, 2017 0
  • This comment was deleted by original commenter.

    • Microsoft / Eng
      loyalty

      Go to company page Microsoft Eng

      loyalty
      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?
      Jun 20, 2017
    • Microsoft / Eng
      loyalty

      Go to company page Microsoft Eng

      loyalty
      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
      Jun 20, 2017
  • Amazon / Eng
    bangGirl

    Go to company page Amazon Eng

    PRE
    Amazon
    bangGirl
    CoinBase Is Scam
    Jun 19, 2017 1