edit by Iylee hey there what is going on it is Rob from crypto Bobby and today I want to talk to you about why you should not use coinbase when it comes to buying Bitcoin a theorem or litecoin and why you should actually use GX and it has to do with saving a ton of money on fees especially if you have any type of volume into your buying and selling this is gonna save you a ton of money especially if you're new within cryptocurrency and starting to invest in the crypto space again my name is Rob from crypto Bobby thanks for taking the time to join me today and like I said I want to show you exactly why instead of using coinbase you should use G Dax and first of all coin base is a fantastic company it is in my opinion what you know it is a fantastic company at least in my opinion I think it's in a lot of cases like the gateway drug for cryptocurrency it's the first step for a lot of people especially in the United States or in Europe to get into the cryptocurrency space in the first place you're probably gonna ever buy Bitcoin etherium or litecoin which are the three crypto currencies offered on coin basis exchange but the one negative thing about coin base is that it's really designed to be extremely simple to be extremely intuitive and they charge a really a fee for that convenience one base is extremely convenient but with convenience comes a fee associated with that so that's something you really want to be aware of and what do I mean by that and how can we dive into it so if I'm in coin base right now if I'm in my actual coin base right now if I want to buy let's say I want to buy a thousand dollars worth of aetherium today and I want to go and I want to buy that a thousand dollars if I want to buy a thousand dollars of aetherium right now that would charge me with a bank transfer that would be fourteen dollars close to fifteen dollars in fees alone so the 15 percent fee if I wanted to pay with a credit card that $1,000 would actually charge me a forty dollar fee just a fee to purchase this cryptocurrency and we can get a better understanding of these coin base views right here so if we're down looking at the u

s there is a is essentially a 15 percent fee or close to 1 point I percent fee for any purchases with a US bank account or alternatively there is a 4% fee if you're buying with a credit card or a debit card so if you're buying any amount of cryptocurrency with coinbase you can really get hammered with fees I mean you know if you're buying five ten thousand dollars worth of of crypto you're gonna pay off the nose and fees especially if you're looking at potentially a credit card or a debit card that's I mean that's a huge number in terms of the fees and you also pay a fee for both buying and selling cryptocurrency with coinbase so you know whether you're buying or if you have Bitcoin if you have a theory when you're looking to sell maybe you know cash out move some somewhere else or you just think the markets going down you want to sell you get charged the fee there as well so that's that's important to know that's important to understand now what is this G Dax I'm talking about and why is this important why does this come into play so G Dax right here we can actually see G Dax vo – G Dax calm it's actually owned by coinbase so if you look in the in the browser up here I can see right here coinbase Inc so it's the exact same company as it's the exact same company as coinbase and this is kind of their exchange platform for institutional investors for more advanced for more active traders and it's a really cool user interface I like it a lot it's it's not as newbie friendly per se as coinbase I mean really the only options you have ongoing basis buy and sell it's pretty simple it's pretty hard to screw things up but with G Dax being that it's meant for institutional traders and people who move tons of volume we can see here I mean there's a lot of really interesting features as far as market depth charts and things of that nature but when we look at the fees associated with buying on G Dax the fees are extremely small in comparison to that of coinbase so if I look over here on G Dax is website they have what's called a 03% taker fee and then there's a 0% maker fee so what does that mean for you and this is really you know if you're new to cryptocurrency or unless you're moving a ton a ton ton a volume you're gonna be paying this point three percent taker fee and you'll be paying a zero percent maker fee so what does that mean and how does that compare well number one the most fees that you'll be paying on onji taxes point three percent the cheapest that the cheapest amount of fees that you'd be paying out on coinbase is one point five percent so that is a massive massive difference that you are saving in and of itself if you're you know utilizing a bank account or if you're using the the USD wallet which essentially come from a bank account or a previous sale and coinbase you're paying one point five percent the most that you would pay on GDX right here is 03 percent so it's significantly significantly cheaper to interact on GDX but then you also see this zero percent maker fee so there's an opportunity for you to actually have free trades on GDX free trades meaning that you literally don't pay a fee whether you know if you're selling a hundred thousand dollars worth of aetherium or a million dollars worth of a Bitcoin if you utilize a maker fee you pay no dollars in fees so what does that mean let's pop over here and let's talk about things real quick so you know if I have a theorem right now and you know rather than buying I want to sell you know rather than buying I want to sell this aetherium let's say you know I have right now three eath in my wallet if I want to sell this three eath this is going to cost me a thousand you know it's gonna cost me a thousand dollars or it's gonna net me a thousand dollars excuse me it'll let me a thousand dollars but there is a fee associated with that and that fee is going to be that point three percent taker fee so what we can do here and I'll actually do this just as an example and I'll eat the fee so that you guys can really see this in real time of how this works but I'll go in here and I'll eat this fee so I have I'm gonna go ahead and I'm gonna sell three aetherium at at the market price which means that I am essentially the taker of the market which means I'm gonna pay that point three percent fee so I'm gonna sell this order I'm gonna hit that and I just went in and I sold a good order of three aetherium at we can see here 334 dollars and 61 cents and I paid it through a fee of three dollars to sell I paid a fee of three dollars if I went back to if I went back to coinbase if I were to sell or if I were to buy a thousand etherium with a bank account I would have paid fifteen dollars so you know that's a significantly lower amount of significantly lower amount of fees obviously you know you can understand that now what can I do to avoid paying fees in general you see this market tab and then you see limit and stop so market essentially means you are the when you are doing a market order whether that's a buy or sell order you are taking the market you are the taker you're essentially saying whatever the market is that I'm gonna take what the markets at and I'll pay for it whether it's buying or selling now if I want to do a limit order what does this mean I want to buy something at the limit so right now the price of right now the price of aetherium is three thirty two and maybe this trades actually gonna work out for me a little bit because the price has gone down in real time so we'll we'll see how this goes but so right now the price of aetherium is at about 3:30 – I want to I want to buy some so I'm gonna put the order underneath where so I'm gonna place a by odor underneath where the market is we can see right here that now I have an order that's open I have an order that's open at 300 $32

50 and that was just filled so what happened essentially the market was above so the market was at three hundred thirty two dollars and sixty five cents I placed an order underneath the market meaning that I waited for the market to reach me I waited to become the actual so I waited to become the actual taker of this marker she's mean I've waited to be on the maker of the market I am essentially making the market I'm saying if the market goes down to three hundred thirty two dollars and 50 cent I want to buy those three etherium if on the other hand if the market stayed above then I wouldn't have actually purchased those aetherium at all so that is the overall difference between taking the market and making the market and how you can avoid paying heavy heavy fees with coinbase by using G Dax so you might be thinking yourself okay you know let's let's take a look real quick at these fees right now so we're looking right now and I sold here's my first trade I sold those three aetherium and I paid a three dollar fee I just bought those three aetherium back actually at a cheaper price so thank you for making his youtube video i appreciate it i just made a tiny tiny bit um but so i just bought three aetherium back by by making the market so i paid no fee I did a limit order and I did a limit order and I paid zero fees so as context for you if you are doing a market order on G Dax you will pay a point three percent fee if you do a limit order on G Dax you will pay zero dollars in fees which is important to understand now you're probably thinking yourself okay this is this is great I don't have to pay any fees and I'm going to you know I don't really have to pay any fees or I can pay a minimal fee you know to buy $1,000 to buy or sell a thousand dollars worth of aetherium you pay three dollars that's a fantastic deal as opposed to $15 with coinbase so how do you actually go through the process of how do you go through the process of getting your money into G Dax instead of coinbase like I said coinbase and G Dax are the same company when base owns G Dax they own G Dax so you have the exact same user information and password and two-factor authentication with with G Dax that you do with coinbase so you don't have to make a new username or a new account or anything like that but what you'll do is you'll go in and you'll just click this deposit button and you can do it through a number of different ways you can deposit from your coin base account if you have money in your USD wallet and coinbase or if you have an ethereal wallet or if you have a Bitcoin wallet you could do that within coinbase you could send a theorem or Bitcoin directly to here if you're you know if you're trading you're tired of paying fees you can send a theory on Bitcoin litecoin directly to your each address within this and then lastly you can to deposit United States dollars or whatever your local currency euro whatever it might be you could deposit that directly within this you deposit the funds directly within G Dax and that's what I'd recommend so if you are starting if you're signing up with with coinbase you're thinking about buying your first time or you've been buying and selling Bitcoin aetherium a light coin on coinbase stop what you're doing stop paying the fees go to G Dax comm which is owned by coin base and move all of your trading activity from coin base into G Dax because you're gonna pay way way way way way less fees and ultimately save yourself money in the long run and when you save yourself money you can invest that back into cryptocurrency so you can really do whatever you want to do but ultimately you're able to save money you're able to invest better and quite frankly I I enjoy the user interface of I enjoy the user interface of G Dax significantly more than I do that of you know that of coinbase I mean coin base is in a lot of respects it's like I said it's it's meant for newbies it's meant for your first step into to crypto currencies it's kind of that gateway drug that's like wow this stuff is awesome but then once you get into that you're like alright where's the functionality what else can I do in G Dax is that place for you to do it so I would highly recommend instead of using coinbase use G Dax if you are new to cryptocurrency you want to sign up with coin base first and then start utilizing G Dax so I have a link if if you'd like I have a link if you're brand new to crypto I have a link in the description where you can sign up to coinbase it'll be on the video here as well if you'd like to deposit your money in there for the first time but that is definitely my recommendation is utilize them G Dax to save money on fees and not utilizing coinbase in the long run because G Dax is a much more powerful platform without the fees and will give you a lot more insight into the date and the things of that nature that are going on long term if you have any questions about this please let me know happy to clarify on anything that you need again my name is Rob from crypto Bobby if you found this helpful if you found this interesting at all I would love a subscribe that would be fantastic I come out with daily YouTube videos on cryptocurrency basically where I can provide insight where I could be as helpful as possible and ultimately the goal of this channel is really to help you out and provide insight where I see fit without you know crazy altcoin shilling or any kind of that BS that's associated with a lot of other people out there again Rob from crypto Bobby hit me up with the subscribe I would really really appreciate that love that any questions comments please let me know thank you so much for taking the time to watch this video and I hope you have an awesome day night wherever you're watching this trading buying selling holding good luck kill it peace