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I would always suggest sending your funds to GDAX first then sending them to where ever you want from there. Let me first say, I am very new to this. So forgive me if I sound dumb asking this but I’m trying to learn. I bought $100 worth of Bitcoin on Coinbase back in September and its now up to $400 so I decided I wanted to buy XRP on Binance earlier today because Coinbase may support XRP in the future. I somehow figured out how to jump through all the hoops to be able to send Bitcoin to my Binance account. However, I decided to test it out by only sending $10 of my Bitcoin from Coinbase to Binance because I wanted to make sure I was doing it right and wasn’t about to lose a lot of money. BIG MISTAKE. Once I sent it I realized my Bitcoin had been charged $45! $10 for the amount and I’m guessing a $35 fee. Is that a normal fee even for such a small transaction? I wish I would have read this sooner. I want to transfer more to Binance to buy more XRP but I don’t want to be charged a crazy amount again. So, I just want to make sure I have this straight, like I said I’m new and not extremely tech savvy. So I would need to transfer my Bitcoin from Coinbase to GDAX and that will transfer for free? Then I can transfer that Bitcoin to Binance for a much lower fee? From there I can buy more XRP on Binance once the transaction has gone through. I hope all my questions made sense. I appreciate any help anyone can give me. My friends want to transfer funds too but I guess I’m the Guinea pig. Thanks for the help! Great article! Hi Bobby, yes you have it exactly right. NEVER send coins directly from your Coinbase account as you will get charged extra fees. Bitcoin transaction fees are the HIGHEST they have ever been right now because of SO MANY people trying to jump on the bandwagon in the last month. I would also suggest to maybe convert your Bitcoin to Litecoin first before sending to Binance as it transfers much faster and is much cheaper transaction fees. Shea, According to Coinbase, they only charge you a fee when you purchase from them. However, when you try to send Bitcoin, for example, to an exchange like Binance in order to purchase Ripple, you see a hefty charge (around .25% or .3%). Coinbase says that this is a “mining” fee that the exchange (i.e. Binance) charges, not Coinbase. Is that correct? Is there a way to find an exchange that doesn’t charge so much? Hi Bob, the mining fee does not have to do with an exchange at all. Miners are a separate part of the network and they do take a fee for any transaction. I would suggest sending your coins to GDAX first, and then sending to your exchange of choice. Also, right now the miner fees are VERY high so sending small amounts of Bitcoin is not recommended. 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