Coinbase is loved by the masses and is praised as one of the easiest ways to get your hands on cryptocurrency. Thanks to its stylish, sleek, and simple user interface, it has quickly become one of the most popular crypto exchanges around. As part of its 12 Days of Coinbase – a spinoff of the 12 Days of Christmas – it has decided to add crypto to crypto trading. However, its tutorial video is rather misleading and is causing outrage in the crypto community.
Warning, Fees are Attached
In its tutorial video – which more of .gif image if you ask us – the process of how to instantly trade crypto pairs is demonstrated. On the final screen is shows the Coinbase fee as zero, indicating that the service is free. However, buried deep within their fee schedule the truth is exposed – crypto to crypto trades on Coinbase actually come with a 1% fee attached. While this is still cheaper than the 1.5% it charges for Bitcoin to fiat transactions, it would be nice if they made it very clear in their tutorial.
Coinbase Rolling Out the New Features
When Coinbase isn’t rolling out new charges, it’s busy adding new features to its platform in a bid to reign supreme in the crypto trading world. Coinbase has recently rolled out its own stablecoin with the help of Circle. Its new stablecoin will help traders looking to protect themselves from volatility and hedge their investments. On top of this, Coinbase has also revealed its new listing process, meaning more cryptos are likely to be added very shortly.
12 Days of Coinbase is Nearly Over
If you enjoy using Coinbase, you will be a little saddened by the fact that the 12 Days of Coinbase is nearly over. Throughout the 12 days, we have seen Coinbase list many new crypto trading pairs, donate Zcash to more than 50 Venezuelan families, added a watch list, PayPal integration, donate Bitcoin to Syrian refugees in Greece, and even introduced a learning program where you can earn ZRX by completing education tasks. It will all be wrapped up on December 21st and we can’t wait to see what the final day holds.
While these new features all seem great on the outside, it pays to be a little careful and read the fine print in order to not be disappointed or see fees attached that you didn’t expect. Coinbase was very sneaky by not showing a transaction fee in their crypto to crypto trading promotional video, but perhaps it was recorded on their test server where fees haven’t been implemented yet. We can forgive Coinbase for this one small slip up – after all, they are still providing one of the best crypto trading experiences around.