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In order for your limit order to actually get filled if you do this, someone has to place a taker order that matches against yours and pay the GDAX fee on that.
by makomk 9y ago
In order for your limit order to actually get filled if you do this, someone has to place a taker order that matches against yours and pay the GDAX fee on that. Coinbase still take their cut no matter what, all you're doing is making sure it comes out of the other side of the trade. If there aren't any less patient people willing to pay the trading fee, your order will just hang around until either someone does or you lose patience and pay it yourself.
Also, there's a risk that the price will move away from where you placed your order and it'll never fill, in which case you'd have to cancel it and re-submit the order at a worse price.
- zerostar07 9y agowhat if its also a limit sell order
- gruez 9y agobut if you look at coinbase and gdax's fee schedule, coinbase is as expensive, if not more than gdax. (0.25%-1% spread vs 0%-0.25% fee depending on whether you're taker/maker). unless you're in a period of insane volatility, the spreads are small enough that placing a limit order for highest bid + 0.01 or lowest ask - 0.01 would get you a trade within seconds. https://www.gdax.com/fees/BTC-USD https://www.gdax.com/fees/BTC-USD https://support.coinbase.com/customer/en/portal/articles/2109597-coinbase-pricing-fees-disclosures https://support.coinbase.com/customer/en/portal/articles/210...
- deleted 9y ago[deleted]