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

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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.


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

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