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I am new to investing in Etherum and Coinbase. I know with credit cards there is a 3.75% fee for buying. It seems like with direct bank transfer there isn't? Is this true?

Also how are taxes calculated with earnings here?

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Transaction fees vary with location. Taxes definitely do. But I'm not a tax lawyer.

Here's a link to the Coinbase pricing page, where they list the percentage fees based on location and payment method:

https://support.coinbase.com/customer/portal/articles/2109597-buy-sell-bank-transfer-fees

  • Thanks @Eric I see that there is a 3-5 days waiting period for using bank transfer. During the 3-5 days if prices go up and down, do I pay at the initial price? Or the price when they receive the money (3-5 days later)? – b11 Jun 9 '17 at 14:44
  • In my experience you pay the price associated with the initial exchange rate – user9402 Jun 9 '17 at 14:45
  • Last question, would you trust Coinbase with your bank info – b11 Jun 9 '17 at 14:46
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    Yeah. They have the most regulation of any exchange that I know of. If they screw up they'd be facing a pretty serious class-action lawsuit. I just wouldn't keep any Bitcoin/Ethereum/Litecoin in Coinbase's wallet for too long for a myriad of reasons. After you receive the coins, I'd send them to a wallet off of the exchange – user9402 Jun 9 '17 at 14:52
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    Basically if your government suddenly says crypto is illegal or shutters Coinbase, you still have control of your funds without relying on a third-party :) – user9402 Jun 9 '17 at 14:53

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