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This provision clarifies the fee structure for outbound cryptocurrency transfers and specifies that such fees represent pass-through costs rather than revenue to Coinbase, establishing transparency regarding the cost allocation for blockchain transactions.
Users sending cryptocurrency off-platform incur a network fee charged by Coinbase to cover the blockchain transaction cost. The mechanism separates this fee from Coinbase's service fees and clarifies it does not constitute company profit.
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"When you send cryptocurrency to a third-party wallet address, Coinbase charges a fee to cover the network transaction fee (also called a miner's fee) required to complete the transaction on the relevant blockchain network. Coinbase does not profit from this fee.— Excerpt from Coinbase's Coinbase Fee Schedule
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This provision clarifies the fee structure for outbound cryptocurrency transfers and specifies that such fees represent pass-through costs rather than revenue to Coinbase, establishing transparency regarding the cost allocation for blockchain transactions.
Users sending cryptocurrency off-platform incur a network fee charged by Coinbase to cover the blockchain transaction cost. The mechanism separates this fee from Coinbase's service fees and clarifies it does not constitute company profit.
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