I was running some tests just to see what the actual fees were for transferring ETH from coinbase to GDAX (Free), from GDAX to Binance then from Binance by withdrawing to an external address. Yeah, I could have just googled it but I tend to like to see if what they have on their website is accurate.
This was the what I did:
I bought $30 USD (0.03295727 - minus the credit card transaction fee) in ETH on Coinbase with a credit card.
This gave me $27.99 or 0.03295727 ETH. It was deposited into my Coinbase account.
I transferred it to GDAX.
Cost = Free
I transferred the 0.03295727 ETH (27.99) from GDAX to Binance.
Cost of transfer = 0.00322129 or $2.50
While in Binance I sold my ETH for BTC. Cost at the moment was $0.01 USD
This gave me 0.00322129 BTC now worth 27.42.
Moral of the story is money lost in the transaction fees have been recouped partially in the market price rise of BTC from $27.99 USD to $27.42 USD.
BTC is presently being traded at 8,523.44.
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