I came across a nice way to reduce fees using Coinbase as the preferred exchange server for Bitcoin.
Prerequisites:
- Check if your country deals with Coinbase
- You need a bank account in your country and you need to have an account with Coinbase.
Step 1. Move some fiat currency from your bank account to Coinbase. In my case I transferred 500 euro on the 7th of september 2017. Don't forget to supply the code in the description from Coinbase so they know in which account to put the currency.
Step 2. Wait a few days until the money shows up in Coinbase. In my case it took 4 days.
Step 3. Go to Gdax.com and login with the same userid and password you use at Coinbase. In the corner you will see your balances in Gdax which will be 0 (i still have 32 eurocent)
Step 4. Click the deposit button and choose the Coinbase Account tab
Step 5. I chose the 500 euro and after clicking the deposit button the 500 euro was instantly transferred. You can see this in the history. To go there click the menu in the upper right corner.
Step 6. From here you can do a limit order and decide how much bitcoin you want for your currency. I chose something like 0.153 or 0.154 bitcoin (can't remember) for a €3251 which was approx. equal to 500 euro.
Step 7. After your order gets completed you should transfer your bitcoin to a bitcoin wallet. I moved it to my Jaxx wallet. I received 0.1537 bitcoin there.
Now I keep it there for storing wealth or buy other coins. Hope this helps.
Thanks for the tutorial, really nice work!
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