So I have copied and pasted my coinbase account to find what the minimum I have to make to do day trading above the fees (*yes I know I will only be making maybe a few dollars each trade AND I KNOW that the time and effort would be better spent working at McDonadls (Why never burger king or wendy"s?) but I had my BTC stolen($~20,000 which would be $50,00 now) and I'm using what was left in my coinbase account that was dormant for years. Losing that much money hurt like losing your grandparents! Plus being disabled that was my income...
Anyways I have looked up all this stuff and I compiled A LOT of open questions where I have googled all this but. there is always that gray area where some traditional explanation are different for cryto. The coinbase explanations seem to be purposely vague and confusing. When I take my total assists at the beginning of a month (I measure my performance monthly) and subtract what I think the fees are its always lower meaning my trading bottom line keeps going up cutting into the paper thin profits
I also have the $29.99/month coinbase deal because it said NO FEES FOR THIRTY DAYS!!!! Well not quite there were fees, a lot of fees.
I don't even know what my $29.99 is doing. I'm guessing thats the 25% rebate meaning I have to do $29.99 X4 = $119.96 and over to cover the 29.99 I pay?
Current level Intro 2 Summary
Futures fees PROMO
0.05% Maker | 0.05% Taker
Spot fees
0.35% Maker | 0.75% Taker
Coinbase One
25% rebate
Intro 2
0.35% | 0.75%
≥ $1K
≥ $500K
1st off when they say 25% rebate its not cash; it goes into USDC im guessing because they are doing some sort of insider trading vs giving you cash in your account.
Is it best to turn that into cash if its a bear market? Or does it not matter? Are there fees for doing that?
So futures is the BTC PERP? And does spot mean trading with a market order vs say a limit order?
I haven't used coinbnase in a few years but at the time you would ALWAYS use limit orders vs market orders as it was 0% taker and 0.15% taker fees, or around that.
I guess I like most normal people will be stuck in level two. I got there by selling and buying my whole balace repededly at a few do
Intro 1
0.60% | 1.20%
≥ $0
n/a
Advanced 1
0.25% | 0.40%
≥ $10K
≥ $1M
Advanced 2
0.15% | 0.25%
≥ $50K
≥ $5M