Coinbase is the entry point used by the most Americans for Cryptocurrency investing. They offer an easy, legally defined way to buy and sell Cryptocurrency for fiat. Unfortunately, they charge fees up to 4% for almost all transactions using their service.
In this video we show you a 3 step method to buy Bitcoin, Ethereum, or Litecoin without fees using Coinbase/GDAX. This will save you a great deal of money and give you the greatest chance of maximizing your gains.
There are a few caveats though. This process takes 5-7 days so if you need to make a purchase right now this method won't work. You also have to have a bank account to transfer the money to Coinbase via an Automated Clearing House (ACH). Finally, you'll have to be comfortable placing a limit buy on GDAX, but don't worry, we'll show you how.
Step 1: Link a bank account to your Coinbase accoint.
Step 2: Use an ACH (Automated Clearing House) transfer to send money from your bank to Coinbase (this takes 5-7 days).
Step 3: When the money arrives in Coinbase login to GDAX (Coinbase's exchange) and transfer the US Dollars from Coinbase to GDAX.
Step 4: Place a limit buy order on GDAX for BTC, LTC, or ETH.
Disclaimer: Investing and trading in Cryptocurrencies is inherently volatile and risky. This information should NOT be taken as investment advice and individuals assume all risk using this information. Views and information given should be viewed as the personal opinion of @BasicCrypto.
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