If you’re looking to day trade on Coinbase, you may be wondering how many times you can do so. After all, day trading can be a great way to make money, but you don’t want to overdo it and end up losing more than you make.
Here’s what you need to know about day trading on Coinbase.
Coinbase allows you to day trade as many times as you want. However, there are a few things to keep in mind.
First, if you’re day trading with leverage, you need to be aware of the risks. Leverage can help you make more money, but it can also lead to bigger losses.
Second, Coinbase has a few different fees that can eat into your profits. There’s the standard transaction fee, which is 1.49%.
Then there’s the maker fee, which is 0.24% for takers (people who buy at the market price) and 0% for makers (people who set their own price).
Finally, don’t forget about taxes. Day trading is considered a short-term capital gain, which is taxed at your marginal tax rate.
So if you’re in the 25% tax bracket, your capital gains will be taxed at 25%.
With that said, day trading on Coinbase can be a great way to make money. Just be sure to use leverage responsibly and watch out for fees and taxes.