I was evaluating the market and specially Bitcoin to see the price change. I have checked different online resources and noticed Coinbase is displaying wrong price for Cryptocurrencies. They display Bitcoin price $50 to $100 more than what it actual is. The funny point is when you want to buy it, they sell based on even higher price. Also, they add fee to it. If you buy by your bank account, then you have to pay foreign transaction fee because coin base originated on the Great Britain. Just imagine how much they gain from a singular purchase by you.
Simple Math:
Actual price + displaying higher price + Selling even over the displayed price + adding fee + you should pay bank transaction fee
Right now Bitcoin is : $8,094
Coinbase shows: $8,122
But they sell Bitcoin: $8.161
They charge fee: $304
Simple math = (8161-8094)+304= $371
Bank charge transaction fee: $160
Adding bank fee = 371 + 160 = $531
YOU ARE PAYING $531 because you are buying from Coinbase. They are making a huge money! WOW!
When you want to sell, they are giving lower money + fee. Again more money!
Think more and be smart!
Congratulations @black-and-white! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP