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Coinbase isn't actually taking any cut of the transaction. The gas fee goes directly to the blockchain network itself. That fee varies depending on the total nu
by jakelazaroff 4y ago
Coinbase isn't actually taking any cut of the transaction. The gas fee goes directly to the blockchain network itself. That fee varies depending on the total number of transactions, so as far as I understand it's actually not possible to have it go through Apple's in-app purchase system.
I'm not supporting Coinbase here, though, and I wouldn't be mad if this policy were actually just a tacit way to ban cryptocurrency transactions in the App Store. But your analogy doesn't fit.
- deadbunny 4y agoCoinbase absolutely take fees that are unrelated to network fees. When you buy $COIN from Coinbase you don't touch the network at all they just note in their database that you bought 0.5 of $COIN for $10 total, $2 which was their fee. It doesn't hit the network till you withdraw it. This is the fee Apple is talking about.
- jakelazaroff 4y agoNo, it's not — Coinbase Wallet is their non-custodial wallet, meaning you actually get a real address on the blockchain rather than just a row in their database. https://www.coinbase.com/wallet https://www.coinbase.com/wallet