Advanced Trade: Coinbase App Tutorial

[@09ThunderOne]

thank you for posting this! saved me from paying outrageous fees!

[@RhettReisman]

Happy to help!

[@billybobs1705]

@@RhettReisman what about sending..do you do proper tutorials

[@marciealexander4864]

Oh my gosh ! Dude ! You just so helped me , I clicked subscribe right away to your channel , I’m a newbie to crypto , done tons of study then I got ready to buy , and omg on the fees .. And I started thinking there has to be a better way , and you just showed me ! BRAVO 👏! I wish I could hug you

[@RhettReisman]

Happy to help haha. It's a great way to get lower fees on mobile!

[@ro-landocalrissian4633]

Coinbase Pro wasn’t like that, but they took down the app..

[@letsgetthisbread2479]

actually massive. thanks for saving me a bunch in fees

[@RhettReisman]

Let’s go bread boi 🔥🔥🔥

[@Bluegrassman12]

So after you buy , do you clock again to go back to Coinbase standard and will you by being in that account? Then if I wanna sell, does my Coinbase standard app convert over to advance when I click the button I can sell and take funds out to the bank? If you could do a longer video for the app, it would be helpful to us all.

[@MM-og2yp]

Not a programmer just the opposite , but am the CRO of a LTE router company ,I am trying to build a trading bot on my own without any help from the 37 developers that work for our company. I have spent 60 hours trying to figure out how todo this over the long weekend. I have not gotten my API to speak to the python script… I will drop what I have been doing and start your program. THANK YOU !

[@RhettReisman]

Feel free to join the discord and ask questions there too rhett.blog/discord

[@Afiore108]

I sold 10k worth of crypto on coinbase and shed about 800 bucks in fees/bid to ask spread.

[@Afiore108]

Super informative. Didn't know advanced was an option.

[@RhettReisman]

Yeah that sucks man :/ The regular trading options through these apps have a weird relationship with the actual exchange and the fees suck. Coinbase has been a leader IMO in bringing these much higher quality fee structures and trading features to their app. Hopefully more people can learn about Advanced Trade.

[@guspolydor9089]

Thanks brother, I had no idea I'm shocked how much money in fees that's going to save me.

[@RhettReisman]

Happy to help - yeah people really get rekt on these fees. Def tell your friends

[@guyincognito5771]

I'm brand new to all of this - and am curious of the difference in allow taker vs post-only when trying to buy at a limit.

[@RhettReisman]

Post only gives you better fees (maker fees) Taker allows you to accept taker fees which are slightly higher. ChatGPT can probably give you a good understanding of the difference between maker and taker it's a little technical

[@MinaTakerover_minasaaywhat]

Very informative, thank you!

[@RhettReisman]

Happy to help :)

[@jeffreymonahan6826]

“Smokin' da duqi, drinkin' da poopi. I got dat duqi in my poopi, got me dancin' like Snoopy. Hut one, hut two, I got dat Charleston chew and a hit to the digi-dodge. Did somebody yell timber???"

[@RhettReisman]

1 large dookie soup 🍜

[@henrymartinez9802]

Why i cant find the trade button on mine

[@Channing_Gosling]

Rhett I’m in New York so my DCA options are pretty limited. I’ve been using your Gemini automated DCA method for almost a year now (thank you so much really - it’s amazing 🙏🏻). My understanding is that after Gemini killed free withdrawals Coinbase is now cheaper. But is it really THAT much cheaper that it’s worth going through the trouble of changing my entire automation setup from Gemini to a Coinbase? My guess is it’s probably not worth the trouble. I’m doing $1k month BTC / $1k month ETH for DCA

[@RhettReisman]

Probably not worth the switch - I'm just crazy and always looking for lowest fees haha

[@acgmathtutoring]

Hello. I just viewed your short about time period for Bitcoin. I made a transaction in July 7th at a low rate and I am still waiting. The part that I don’t understand is why the transaction date keeps changing. At the 30 day mark, the date changed to August 4th, then last night I noticed the transaction date changed to August 28. I really need this transaction to go through. Any help or information would be greatly appreciated. Thank you

[@RhettReisman]

The mempool is trying to persist the transaction - same thing happened to me :( When it happened to me though I was able to resend the transaction from the original wallet - try that

[@acgmathtutoring]

@@RhettReisman Thank you so much for replying. I greatly appreciate it. When I called my wallet provider, Bitcoin Depot, they said that once the transaction is made that is it. It like if I do anything I will lose everything. All I am trying to do is send money to my friend.

[@mangesh27985]

Hi.. Is it possible to create fear and greed sell buy the way you created for Gemini?

[@RhettReisman]

Yes! I’ll have it out on the blog by the end of the month :)

[@telescopicS627]

Why reduce the fee so much just for clicking on the settings menu? If I turn on dark mode, do the fees go even lower? 🤣

[@RhettReisman]

If you turn on dark mode you’ll save your vision and the fees you pay to optometrists will be lower

[@thehiddenexperience4116]

How about recurring buy $USDC, then manually Advance trade afterwards?

[@RhettReisman]

That works! And gets you interest on the USDC

[@RatherBeSailing]

What about the BTC network fee? Where / when does that get charged?

[@RhettReisman]

When you withdraw it is the fee you see

[@guidedenergy]

How do you get out of coinbase advance and back to regular on the mobile app? coinbase?

[@RhettReisman]

Click on advanced trade again and then back to trade. They recently changed the UI - I’ll have a new video out on April 15th showing how to use it. Blog post come out earlier if you like reading rhett.blog

[@FClassico]

how to buy btc on Coinbase from a Bank account low fees? ...is it even possible ? ( i get $4 Fee from $100)

[@RhettReisman]

Deposit the money from the bank account into Coinbase first and then follow this video and the fees should be lower

[@kimblylabs7137]

Have you written code to download Websocket Data using coinbase Advance Trade API?

[@RhettReisman]

Not yet, I’ll add it to the backlog for the api

[@Luis-df2kt]

Advanced trade is no longer available on mobile Any updates?

[@RhettReisman]

Yes it is, they just changed the ui. Will make a new video

[@joeellis2920]

How do these fees compare to Strike?

[@RhettReisman]

Comparison here: kzbin.info/www/bejne/sKrWmmRqhqaZnpI When I’ve tested Strike the spread has been 0.2% but they have free withdrawals (which is lower than Coinbase) However with the API Coinbase allows for a lot more features/automation (limit orders based on fear and greed index, automated deposits/withdrawals, etc) I think there’s reasons to use both.

[@RoastyPotato]

Great stuff, cheers

[@RhettReisman]

Glad to help :)

[@crispykartel]

I dont have a trae tab, my app is old, help?

[@RhettReisman]

Try this kzbin.info/www/bejne/oJ_KY5Waop6UocUsi=2yjFdklbHlaK8UR3

[@carlosferreira6795]

why i can´t buy and only sell in eth-eur? market order btw

[@RhettReisman]

Not sure - you should be able to market order buy or sell ETH-EUR is there an error you’re seeing ?

[@PowerKangen]

I paid .01 fee last few year. This year I paid .05 and this video remind me to stop to pay hi fee. Thank you bro for sharing supper saving! Look back it cost me over 1K very expensive .05 fee rate

[@RhettReisman]

Happy to help! Yeah no one should be paying that much in fees :)

[@nuttyoncrypto9863]

Thanks

[@RhettReisman]

No problem:)

[@LuluMIL-11]

thank you

[@RhettReisman]

Cheers 🍻

[@dillstealed]

it says "view-only market"

[@RhettReisman]

I haven't seen that before - maybe a pair isn't available in your jurisdiction or you need to complete KYC

[@dillstealed]

@@RhettReisman most pairs work like USD and other currency's but for some reason GBP isn't

[@WilliamsDarkoh]

Good, but this works only if you have already made a deposit... Meaning thag you will still have to pay the stupidly high 4% fees for it... So stupid tbh, I'm living in the UK, but i guess that until they decide to unban it i wont be buying anything

[@RhettReisman]

Damn, is there a 4% deposit fee in the UK? It’s free to deposit in the US 🤷🏻‍♂️

[@WilliamsDarkoh]

@@RhettReisman I mean I don't really understand tbh... when I go to the add funds page and try to do a bank transfer deposit I get 4% fees that are as low as 2.54% depending in whether I use usdc or usdt

[@noell8460]

what about sending a receiving, coinbase wants charge me a bomb to send btc to my cold wallet

[@RhettReisman]

It’s because the network fees are high - other exchanges will charge you the same or more. You can see current network fees at mempool.space

[@RhettReisman]

Coinbase is charging the on chain transaction fee that varies with the number of people who are trying to send BTC at the same time (other exchanges charge this fee too, some like Binance charge an even higher fee than the base on chain withdrawal fee)

[@RatherBeSailing]

Clever

[@RhettReisman]

Goated 🔥

[@levo7208]

Talk too fast

[@RhettReisman]

You know that I don’t play 😤

[@arijunal]

You can change your video playback speed on your KZbin screen settings.

[@NoflectioN]

You listen too slow

[@raymondsrealm5377]

So I set my buy to 10 dollars and limit to 40 just to let this run for a few days and see how it works. I get the following error though: 2024-08-01 10:38:36,865 - coinbase_advanced_trader - WARNING - Invalid buy threshold: 37 2024-08-01 10:38:36,865 - coinbase_advanced_trader - WARNING - Invalid FGI schedule provided. Update rejected. Here is the code: # Update FGI schedule new_schedule = [ {'threshold': 15, 'factor': 1.2, 'action': 'buy'}, {'threshold': 37, 'factor': 1.0, 'action': 'buy'}, {'threshold': 35, 'factor': 0.8, 'action': 'sell'}, {'threshold': 45, 'factor': 0.6, 'action': 'sell'} ] client.update_fgi_schedule(new_schedule) any ideas why I am getting this, should I drop this whole schedule section and will the bot still know when to buy and sell or do I need this to tell the bot when to buy and sell? Also forgot to sell I was only giving it access to 100 dollars.

[@RhettReisman]

Yeah it looks like you’re trying to buy when the fear and greed is less than 37 but also sell when it’s above 35 which is invalid.