Mastermind007 wrote:
Very nice tutorial. Detailed but not too complicated.
One question? Have you looked into using Coinbase to convert between coin types? Obviously this would only work for coins traded on Coinbase but it would at least cut down on some fees. I am not sure what their API allows or if it is possible to automate this conversion.
Thank you!
That is why the direct to Coinbase payouts are able to be paid out so frequently for free, because the coins are being shifted on Coinbase's ledger rather than through transactions on the network, which costs less. However, for customers who don't have a Coinbase account or prefer not to be paid to Coinbase for one reason or another, the coins would still be need to be sent on the network, and the transaction fees are the expensive part of the process. As you said, some coins aren't traded on Coinbase, but also, we can get better prices at other exchanges on some coins. Steven's trader will buy coins at Coinbase when they have the best price, but he can't always do that.
