4 ms·
Upvote. I have done this on Coinbase. I have recurring daily transactions created for Bitcoin and Ethereum, putting in $5 each. Coinbase charges me $0.15 in fee
by muggermuch 9y ago
Upvote. I have done this on Coinbase. I have recurring daily transactions created for Bitcoin and Ethereum, putting in $5 each. Coinbase charges me $0.15 in fees (3%) for each transaction. I realize that the fees have increased since I set this up, but I guess I'm grandfathered in.
FWIW, I've been lately thinking of adding an extra $2.50 each per day for Litecoin and Bitcoin Cash.
As another poster has pointed out, dollar-cost averaging is your friend.
- iDemonix 9y agoIs there an advantage to daily over weekly/monthly? It seems to me like w/m would make more sense as you'd get less fees?
- dchuk 9y agoThe fees are percentage based, so the investment interval doesn't matter. $5/day gets you a $0.15 fee, $35 a week is $1.05. It all nets out to the same dent made.
- iDemonix 9y agoWhich marketplace are you getting those fees from? I'm looking at Coinbase and its fees are quite a lot higher than that for using a Credit Card, and bank transfers cost a lot more.
- muggermuch 9y agoRe: Coinbase, I have it setup to debit my bank account every day. The transactions go through between 2.45-3 PM EST daily, with 3% fees. However, I just tried setting up a new transaction and the fee looks to be $0.99 for a $5 investment. At ~20%, this sort of averaging would no longer be worth it. Like I said before, I guess I've been grandfathered in after the new fees schedule was imposed. Let's see how long it lasts.