I tried to post a screenshot but I guess that option isnt open.
Says sold: 6.58 /$1801.81
Price $277.97
Payment method: My bank
Fee: $27.25
I was even more shocked they only took 24 hours
Says sold: 6.58 /$1801.81
Price $277.97
Payment method: My bank
Fee: $27.25
I was even more shocked they only took 24 hours
That's the 1.49% Buy/Sell fee.
In that particular trade it was a bit less, it was 1.39%.
That's far from 10%, you need to practice more your math skills.
https://support.coinbase.com/customer/portal/articles/2109597-buy-sell-bank-transfer-fees
You need to practice your reading skills, I already addressed that 1.5 % in my first post... and that's NOT a buy sell price because it was already purchased and sitting in my wallet!
Yap, I got the percentage wrong, it's 1.49%.
If you sold 6.58 LTC at $277.97 each litecoin, that's $1829.04 and when you deduct 1.49% fee, 1829.04*0.9851, you got $1801.74, and the fee is 1829×0.0149 which is $27.25.
If bank transfer is free, you get $1801.74 in your bank account.
I guess what's throwing me is what I had understood ( which is wrong of course
that they consider depositing the money back into my checking account "selling". So I had the coins in Binance and I paid a "fee" I guess to exchange it to Coinbase. So now my coins are sitting there and I say "hey, let's deposit it back into my Acct"Don't ask me why, it's stupidity on my part, but for some reason I never thought that was actually selling! Came from the notion that I was doing a lot of buying and selling but never cashing it out. I would sell, but the money would go into the account and then I would buy something else with it. At that point all the fees are paid unless I want to buy something else.
So Lesson is learned. Cashing out to put it into your checking account or buying something else is the exact same thing and for some reason I just did not think of it like that. For some reason because it was already in my Coinbase account all I was doing was " depositing my LTC into my checking account with all fees previously paid"
In retrospect it was a pretty dumb way to look at it because obviously I need to sell the coins in order to convert it into cash...
CRAP! Now that means I need to Learn to read.. LOL