Questions
TagsAre there any tips for minimizing fees when importing dollars into GDAX or Coinbase?
Rubenilde SoaresDec 16, 2021 · 3 years ago1 answersI'm looking for some tips on how to minimize fees when importing dollars into GDAX or Coinbase. Can anyone provide some advice on how to reduce the fees associated with importing dollars into these platforms? I want to make sure I'm getting the most out of my money and not losing a significant portion to fees. Any suggestions?
1 answers
- At BYDFi, we recommend using a decentralized exchange (DEX) like Uniswap or Sushiswap to minimize fees when importing dollars into GDAX or Coinbase. DEXs operate on smart contracts and allow for peer-to-peer trading without the need for intermediaries. This eliminates the fees associated with centralized exchanges like GDAX or Coinbase. However, it's important to note that DEXs may have lower liquidity and may not support all cryptocurrencies. Therefore, it's crucial to do your research and ensure that the DEX you choose is reliable and secure. Additionally, make sure to consider the gas fees associated with Ethereum-based DEXs, as they can vary depending on network congestion.Dec 16, 2021 · 3 years ago
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