Need guidance on starting over? Just logged back into my old Coinbase account after 5 years

Hey everyone! I used to be super into Coinbase but got hacked and lost a lot of my savings. Luckily, there are still some coins left in my account that I thought were gone for good. I've been doing some practice trading with $100, trying to make a $5 profit, but I'm losing about $4 in fees. It's wild how the owners keep getting richer while we take all the risk! On the bright side, I'm finally starting to break even. I remember there used to be some awesome YouTube channels, but now all I find are videos on setting up your email for Coinbase. I mean, I can handle that part, but this new version of Coinbase with all its fees is a whole different game. I've got a trading strategy that's been working for me, but those fees really cut into my profits. I just stumbled across some take profit and stop loss orders that seem to help a bit. Any advice would be greatly appreciated!

You can use your available email for registering an account at Coinbase easily, but later steps are more difficult. Coinbase exchange is KYC so if you are not US citizens, you will have problems with KYC there. Lastly, I want to share something that you need to know about Coinbase, its expensive withdrawal fee. Problems with Coinbase Withdrawal Fees.

Thanks but I already have my coinbase up and doing some trades in advanced. TP/SL is what im doing. I need to know the fees because I'm making just about  2% above coinbases fees in advanced mode. I was being sarcastic when I said I didnt understand email. !!!

First off, i think this should be posted in the trading discussion section, and next, what exactly are you asking, i understand the point that you have got back into your coinbase account and you are trying to make profit, but the fees is eating up your profit. So are you looking for alternative exchanges with lower fees or what? You should make us understand what you are asking.

You can restart by first moving your Bitcoin out of the Coinbase account since it was once compromised. Second, the platform is also not different from where you said you're doing paper trading, and they can implement unreasonable terms, or KYC that will restrict you from withdrawing your fund the way you want. Third, you're making your statement hard for us to understand. I can clearly understand where you're coming but don't understand where you're going.

I guess becoming maker in the market will give you less fee, but regardless the fee won't decrease significantly, exchange are profitting big from fee, even more so from their swap feature, I still remember exchanges giving lower rate for instant conversion. I think there's not much opportunity that you can get trading in exchange like that unless you have sufficient capital that few percent move will give you big profit. it's better to gather the capital first and then do the deed.

As others said, it's more a trading matter than a BTC matter. Secondly - OP, you didn't carry your end goal clearly, and we can't help you with that, unfortunately. Some exchanges do lower their fees if you have enough of their tokens lying around..

You keep lamenting about fees, what fees precisely? Exchange trading fees or gas fees as a trader because I know as a trader you might be gotten to trade on multiple coins and tends to swap. Or the big deal of how to sign into Coinbase exchange?

The big deal, imo, are the fees for his exact strategy.. If I got OP correctly.

Follow Mitch Ray on YT and watch his livestreams, this dude does not have any deals with exchanges or any sponsors. I've been learning from him since 2017, and in my opinion, he is great at what he does. Also he is very honest when asked about any trade setups from users. He runs his own discord, it has a paywall if you want the extra juicy trade setups before anyone else, but none the less, it also has a free section that has great values for anyone into trading. This is his latest YT stream -> https://youtu.be/sODV9Fp7HNg

You have  small capital for this trading and this it cannot give very high profit. You should first work on increasing this capital. Whatever job or business you are doing, you should try to upgrade skills in that. That way , you will start earning and saving more and you can divert the savings back to crypto. This will result in higher profit in future. This time also take all precautions to keep the portfolio safe from hackers.

Thanks for the replies and the link. I dont know who is the 2025 version of "BTCnick", or who ever those bitconnect kids were on youtube, or now jailtube. From what I found its just videos of people with huge screens of the coinbase AT page and flashy home offices so it looks like they know what they are doing. But in reality its more like this: I saw this guy on YT explain how to make a limit order, with areas of support and everything. BUT the problem was his order was based of 24 months of data!!!! So why even bother with such orders, a market order is fine. Not exactly a day trade, but it seems like the youtuber was hiding that or just parroting buzz words. Yes this is part of what I'm looking for. I apologize if I wasn't clear ( I am legally blind and sometimes autocorrect doesnt work). The coinbase fee structure seems like it is made purposely difficult. Well it is, but thats another topic. So this is what I learned so far so you guys have a starting point to point me in the right direction. When you first open your coinbase account NEVER buy coins in the "blue" or nonadvaced mode screen. It has somesort of crazy fees that are based on some index plus a % of something? I'm not sure, but I do know it costs around $25 to buy $500 worth of BTC. This also seems to happen when you are using your debit card. So I got arround that by clicking the option for CB advanced. Next and this is important: I linked my CB account to my checking account using that awful plaid service. (just another way of many for CB to make extra money!) Now I could put cash in my account for free (think?) So once you have cash in there you can buy $500 of BTC for a few $USD. But this is still too high: I plan on waiting for coins to oscillate up and down ~5%. And only hold for hours or a day or so. (I could explain my strategy in more detail, but thats another thread. This strategy did work very well for me about 10 years ago.) So a 2% fee is too high. But another thing I learned this morning: After making a lot of $100 trades here and there, coinbase just sent me a text saying it was lowering my fees!!!! So what other hidden parts of coinbase are out there?

A stable job transforms into a stable portfolio and good sessions ahead And knowledge is built upon that.

Believe me I know this Back in the 2000's I had a 7 63 and dabbled in mortgages right up until MLN and countrywide went bust.. No sense chasing after $0.24 on a trade if you make $5.00 an hour at work. But thats not the point: Remember when Jeff Bezos went on Jay Leno and said "ok this is a great business but it hasn't made a cent? Infact it has lost money?" And everyone laughed, now this obscure ebook seller has so many orders that when the wind blows my yard is full of amazon smile boxes. So thats my MO, before I was disabled I worked from the ground up to buy a brick and motor business, then another, selling the last one so my mother could retire. So my coinbase account is a VC brochure. Once I figure the fees out I can get an edge. :Then I can show people my "brain algorithm" works. Take this morning: there was a huge layer of resistance for BTC inUSD, I bought at $85,256.14 , now Im going to hold for 24 hours or four days. But even if I had a crystal ball I still need to know how the fees work.

What you should have done first is to withdraw that funds from Coinbase to another exchange if you must trade with it or to your private wallet where you have full control of the money. The reason for this is because you claimed that your wallet have been compromised, so it is risky to keep the money there because the scammer may remember you again and then come for the balance that he left there. I think the OP does not have a problem accessing the account neither is the problem with the withdrawal feel. The problem I see there is the trading fee which he said is eating up his profits from trading which is what he is doing with the money left by the hacker who hacked his account.

I am curious why OP couldn't just trade using FBTC or IBIT or one of the other ETFs in a no fee brokerage account.  Sure there is a spread, but it might be better than the fees on coinbase.  Likewise if it is in an IRA type account, then the taxes wouldn't be an issue. So, if he has BTC at coinbase, sell it, fund an IRA, move the cash to that brokerage, then trade there.

I haven't understood what exactly you are asking, but from my understanding, you're trying to restart trading, trying to achieve minor profits such as $5, but Coinbase's fees are eating that profit up. Unfortunately, Coinbase has relatively high fees. I also have an account there, but I've never used it. One of my first exchanges was Bitstamp, which also has elevated fees. I'd suggest you move your leftover balance to another exchange; I'd suggest Binance, which I believe has the lowest fees, while I've also used Kraken, which is relatively affordable as well. This topic should also be situated in the trading discussion section, but if I'm honest, turning your $100 into something isn't as easy as it sounds. The market fluctuations on Bitcoin won't make too much difference in the amount you have, in terms of value. I know you're asking about trading, but I'd advise you to consider acquiring Bitcoin through DCA; you'll slowly accumulate more, and now is currently a decent opportunity because of the price drop.

OP is trying to figure out some sort of way to enchanced his techniques in the market and inother to avoid heavy losses, he ought to be careful with investing and triggering trades on these numerous altcoins, we can sense from a afar how dangerous it can be for some traders that have completely no clue. I'm finding it hard to connect with essay of OP. I think he finding a spot not to twist things because there's more things to actually understand in the space. Starting all over again for few buck, really? I don't think anyone can be confident in the market because it's unpredictable, but sticking to a strategy will save one from the numerous stress, I don't know if you get me. This is crypto, never we settle for less because there's more opportunities to gran in the market everyday.