Stop Paying Coinbase Withdrawal Fees

FYI: Coinbase and Coinbase Pro now seem to charge the same Bitcoin (BTC) withdrawal fees. This is a dynamic fee, but it tends to be lower than many other cryptocurrency exchanges I’ve checked out.

This is a quick post to walk through how you can stop paying the excessively high transaction fees when withdrawing bitcoin (BTC) from Coinbase.

Read on to discover how.

Coinbase vs Coinbase Pro

Coinbase and Coinbase Pro are owned by the same company.

You might not know it, but you’re able to transfer funds (including cryptocurrency) between Coinbase and Coinbase Pro instantly and without paying any fees.

While Coinbase charges high fees to withdraw Bitcoin (BTC) and other cryptocurrencies, Coinbase Pro doesn’t seem to charge anywhere near as much.

The Process

To take advantage of this, follow these steps:

  • Login to your Coinbase Pro account.
    • If you already have a Coinbase account, you’ll already have a Coinbase Pro account setup (with the same credentials).
    • If you don’t have a Coinbase account yet, head over here to do that.

In the top left, select the BTC/GBP market.

Select ‘Deposit’.

In the window that pops up:

  • Select Bitcoin (BTC).
  • Select ‘Coinbase.com’.
  • Enter an amount of BTC which you wish to transfer between Coinbase and Coinbase Pro.
  • Select ‘Deposit funds’ at the bottom.

Your Coinbase Pro account should be instantaneously credited.

Go back to the main page and select ‘Withdraw’ in the left pane.

In the window that pops up:

  • Select ‘Bitcoin (BTC)’.
  • Select ‘Crypto Address’.
  • Input the amount you wish to send and the destination BTC address.
  • If you have two-factor authentication enabled (which you should), you’ll be prompted to enter that once you’ve clicked ‘Withdraw’ at the bottom.

You’re done! You’ve just sent bitcoin (BTC) without paying as much in fees!

Celebrate with this gif.

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If you like this post, pass it around to others.

This doesn’t seem like common knowledge amongst a lot of Coinbase users. It’s a little bit of hassle, but it’ll save you (and your friends) tons in unnecessary transaction fees.

2 thoughts on “Stop Paying Coinbase Withdrawal Fees”

    • Hi EA,

      This post is slightly outdated. GDAX is now Coinbase Pro.

      It costs absolutely nothing to send digital assets from Coinbase Pro to your own wallet. If you don’t mind the extra steps, it can save a few pounds when BTC fees are high.

      Hope that helps!

      Reply

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