So I did a little math on Coinbase’s $20 Bitcoin “Recurring buy reward”

EDIT: With help of this lovely community we unearthed a method of claiming all $20 with minimal fees! This still goes to show the importance of fee difference on Coinbase vs Pro

Being the super math wiz that I am, I calculated out how much $ you really get for using this award considering you have to buy on Coinbase and not Pro.

A quick piggy back off of my post about making sure you always buy on Pro.

Using the minimum $50 recurring investment where you would earn $10 BTC at the 4th and 8th buy:

Coinbase fee per trade: $1.99 (2) in fees x 8 trades = $16 bucks in fees.

Coinbase PRO doing the same trades: $0.25 in fees x 8 trades = $2 in fees

$20 reward – $14 extra you'd pay in fees = a whopping 6 bucks in free BTC. Looks can be deceiving.

If you want that solid 6 bucks of free BTC, go for it, but cancel recurring immediately after that 8th buy or you start losing $$ in fees.

ALWAYS BUY ON COINBASE PRO

UPDATE As u/ccjimbo87 points out; setting up a recurring buy for USDC DOESN'T have any fees! A nice loophole. u/phigitz and u/ccjimbo87 with the game plan

1. Reccuring buy 8x for $50 USDC (no fees)

2. Send USDC to Pro (no fees) 5 day waiting period to transfer if deposited from bank

3. Convert USDC to USD for free on Pro and buy whatever coin you wanted.

4. Save a butt-load in fees and get $20 BTC

Previous post: https://www.reddit.com/r/CryptoCurrency/comments/mq72n2/new_to_crypto_and_plan_to_use_coinbase/?utm_source=share&utm_medium=web2x&context=3