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Yup. Anyone mining on Nicehash has that loophole too now. Transfer BTC to Coinbase off-chain for free, then do the GDAX loop. Aren't market orders free, though?
by icelancer 9y ago
Yup. Anyone mining on Nicehash has that loophole too now. Transfer BTC to Coinbase off-chain for free, then do the GDAX loop. Aren't market orders free, though? Don't need to babysit a limit order if you do and you get the spot price. Last time I checked it was, anyway.
You can get USD out of GDAX for free too using this. Well,
"free." You pay the bid/ask spread for the liquidity, which is usually very small, especially on BTC.
As for other strategies, use LTC to get into your account cheaply if Segwit isn't online, then sell the LTCBTC pair and repeat the above.
- ipince 9y agoNo, market orders aren't free.
- icelancer 9y agoI couldn't find any documentation on the fees, and when I logged into GDAX and opened up a market order I saw no fees attached. Is that true? Is there a link? Can't seem to find anything on market order fees.
- tristanj 9y agoHere are some sources. GDAX charges 0.3% fees for BTC/USD market orders and 0.25% fees for ETH/USD market orders [0]. They charge slightly less if you trade large volumes (millions of $) which most users will not hit. GDAX's pricing structure incentives users to place stop/limit orders which help provide liquidity. For purchases through coinbase, in the US they charge 1.49% in fees for cash/bank account purchases [1]. They have different pricing fees for other countries. [0] https://www.gdax.com/fees/BTC-USD https://www.gdax.com/fees/BTC-USD [1] https://support.coinbase.com/customer/en/portal/articles/2109597-coinbase-pricing-fees-disclosures https://support.coinbase.com/customer/en/portal/articles/210...
- icelancer 9y agoCool, thanks. Couldn't find anything on their nightmare of a FAQ. Good to know.