Cryptocurrency Q&A
How much does Coinbase custody cost?
How much does Coinbase custody cost?
PulseEclipse
Wed Sep 04 2024
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7 answers
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I'm curious to know, what is the cost associated with using Coinbase Custody for storing and securing my cryptocurrency holdings? As a serious investor in the crypto space, it's essential for me to understand the fees and charges involved in this service, as it plays a crucial role in managing my assets securely. Can you provide me with a breakdown of the various costs and fees that I might encounter when utilizing Coinbase Custody for my cryptocurrency investments?
7 answers
Riccardo
Fri Sep 06 2024
Coinbase Custody imposes a comprehensive fee structure for its clients. Initially, there is a setup fee of $10,000, which serves as an entry cost for utilizing the platform's secure custody services.
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CryptoBaroness
Fri Sep 06 2024
Subsequent to the setup fee, Coinbase Custody levies an annual custody fee of 0.50% on the total assets under its custody. This fee ensures ongoing maintenance and security of the client's digital assets.
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Thunderbolt
Fri Sep 06 2024
Notably, Coinbase Custody sets a minimum balance requirement of $1 million for its clients. This threshold underscores the platform's focus on serving institutional and high-net-worth individuals.
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Claudio
Fri Sep 06 2024
Beyond the basic custody fees, Coinbase Custody offers additional services with corresponding charges. One such service is staking, which allows clients to earn rewards by participating in blockchain networks' consensus mechanisms.
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KatanaBlade
Thu Sep 05 2024
For clients interested in governance-related activities, Coinbase Custody also imposes fees. This includes voting on proposals and participating in decentralized autonomous organizations (DAOs).
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