As per the Increasing access to USDC internationally: commission-free trading via non-USD currencies article, if I manually sell USDC to a non-USD fiat currency on the Coinbase website, there is no fee. However, if I attempt to automate this via the Sign In With Coinbase API, the usual fee applies again.
I would just like to check if this is intentional or a bug?
Welcome to the Coinbase Cloud forum, @jwjwjw! We’re happy to help, but first we’ll need you to provide us with the following information so that we can further assist you with the issue:
- When you say “withdrawal fee” are you referring to the exchange fee that is associated when selling USDC to a non-USD fiat currency?
- What fiat currency you are trying to use when selling USDC?
- Can you provide a screenshot to demonstrate the problem you are encountering?
- May we know from what region you are in? Because this feature may not be available to all regions and we would like to check it as well.
Once you send us the information requested above, we’ll work to quickly address this issue. We appreciate your patience and understanding. Have a great day!
Hi @Mamoshi27 and thanks for the welcome!
- I mean the 1% commission charged by Coinbase when selling USDC to a non-USD fiat currency.
This is the payload of a completed sell via Coinbase.com, where the fee is 0.00 GBP (subtotal and total are the same)
By comparison, here is an uncommitted sell quote via the API, which I aborted because it showed there would be a fee of 50.51 GBP (subtotal and total are not the same):
I’ve partially redacted the UUIDs for security, but you can see that the payment method was the same for both, and both were for USDC to GBP.
- United Kingdom. I assume the commission-free trading is available in my region because, if I use the Coinbase.com website, it is indeed fee-free. It’s just when using the API that the 1% commission is still charged.
If there is anything else I can provide to assist you, please let me know.
Hi @jwjwjw! Thank you so much for the information you provided. We will check this with our team on why there’s a fee occurring when selling USDC to a non-USD fiat currency via the API. We will get back to you once we have more information. Keep in touch!
Thank you @Mamoshi27, looking forward to hearing from you again when you know more
Hello @jwjwjw! Thank you so much for your patience and we understand the importance of your concern. Rest assured that the team is working hard for a fix on this issue and in the meantime, we would recommend you to post this as a feature/feedback request on the Feedback Section of the Developer Forum as most new features and improvements to Coinbase come directly from feedback like yours, so it’s very valuable to us. Thank you and have a great day!