Charles Schwab Sets 0.75% Fee for Bitcoin Trades
The brokerage charges a 0.75% commission on Bitcoin transactions, prompting a cost comparison with Coinbase and Robinhood.
Charles Schwab announced a 0.75% commission on Bitcoin trades. The fee applies to each transaction executed through the broker’s crypto offering.
Fee Structure
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Schwab’s rate is a flat 0.75% of the trade value, charged as a commission on every Bitcoin purchase or sale.
Comparison with Competitors
The headline questions whether the 0.75% fee is cheaper than the commissions charged by major crypto exchanges such as Coinbase and Robinhood, though no specific figures are provided for those platforms.
Implications
A lower brokerage fee could make Schwab more attractive to retail investors seeking to add Bitcoin to their portfolios, potentially influencing trading volumes on the platform.
Key facts
- Charles Schwab charges 0.75% per Bitcoin trade.
- Fee is a commission on each transaction.
- The rate is positioned against Coinbase and Robinhood fees.
- Applicable to brokerage accounts offering crypto.
- No additional fee details were disclosed.
Source: news.google.com
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