Preface

I have already explained the registration and use of Coinbase Commerce(CC) in my previous article

URL : https://www.blueskyxn.com/202109/5371.html https://www.patreon.com/posts/57462935

In short, CC does not require KYC or similar real name verification to complete payments.

With CC,you can easily accept payments with up to 7 crypto(BTC、ETH、LTC、BCH、DOGE、DAI、USDC)

Setting Issuing

You need “支付名称”“商户 ID”“商户 KEY”“商户密钥”“支付标识”“

Basic Setting

支付名称

Not too many restrictions, e.g. "Crypto by CoinBase"

支付标识

Not too many restrictions, e.g. "coinbase"

Not too many restrictions, e.g. "通用"

MUST:跳转

支付处理路由

MUST:pay/coinbase

Advanced setting

商户 ID

In the Coinbase payment module, this refers to the fee multiplier,

where a 0 means no fee,

a 0.2 means an additional 20% fee

and a 3 means an additional 300% fee

商户 KEY

https://commerce.coinbase.com/dashboard/settings

API keys in this website.You need to Create an API key and copy it

商户密钥

https://commerce.coinbase.com/dashboard/settings

Webhook subscriptions-Webhook Shared Secret.You need to copy it.And setting one more step.

Add an endpoint in Webhook subscriptions Like this:

https://YOURDOMAIN/pay/coinbase/notify_url

And set events

IP-WAF Setting

Make sure IP white list in your waf or others.(Such as CloudFalre IP rules)

54.175.255.0/27

UA:weipay-webhooks

Path:/product/notify/?paymethod=coinpay

ASN:AS14618 AMAZON-AES,USA

Funding Issuing

Only 7 Crypto are acceptable.And GAS fee are needed.

The CC have a wallet with 7 crypto inside.Note that this wallet, like Coinbase, alos may charges extremely high fees.

USE Coinbase instead of Crypto Withdrawal

Unfortunately, there is a high GAS fee for using Coinbase as well.

For example,USDC cost a gas fee that up to13.3UDSC(85CNY) in this pic.

Working with Coinbase wallet

As we know,Coinbase wallet is a Crypto wallet that not need KYC.

Wallet can transfer crypto from coinbase(Free)And Send Crypto to others,But even if you transfer to Coinbase, you will still need to pay a GAS fee.

Based on my experiments, I can't find them fittable. Perhaps Wallet sending to CC would consume less GAS fees, if you'd like to try it

Which Crypto Gas is Cheapest?

These 7 Crypto most base on ERC20 and cost a lot.

Compare them!

PricingLiquid(JP)Binance(CN)
BTC590000.000529.5USD0.000529.5USD
BCH5600.0010.56USD0.0010.56USD
USDC·ERC155USD2525USD
LTC1800.0010.18USD0.0010.18USD
DOGE0.3257.5USD51.5USD
ETH40000.01456USD0.00520USD
DAI13030USD1515USD

You can find LTC is best (0.18USD)

BCH is also a good choice(0.56USD).

USDC is a Stable Coin.You can hold and pay in Liquid.

DOGE in Binance is also a choice but we have LTC and BCH.

Payment and Withdrawal Issuing

Official

Withdrawals

Is there a minimum amount that I have to withdraw?

Yes, but the minimum is small to ensure you always have access to your funds. These minimums fluctuate with exchange rates, but are generally under $0.10.

There is a 1% fee to convert and withdraw your crypto to fiat in addition to standard network fees.

How do I withdraw my ERC-20 crypto?

To send or withdraw ERC-20 crypto, like USDC and DAI, ETH is required in order to cover Ethereum network fees (also referred to as “gas fees”).

Note that if you accept USDC or DAI but do not have ETH in your Commerce account, you will be unable to send/withdraw those funds until your account has enough ETH to cover the transaction fees.

Determine the amount of ETH required to cover the transaction fees.

  1. Go to Etherscan to view the Ethereum gas fees.
  2. See the High estimate in the ERC-20 Transfer row
  3. This is the estimated transaction cost you would need to cover your withdrawal. We recommend sending a little more than what’s listed to ensure that the transaction executes quickly. Note: If you are withdrawing both USDC and DAI, you will need to send 2x the fee amount to make sure that both transactions execute.

Practical tests

BTC's withdrawal fee looks good, Only 1%+

EHT seems hard to withdrawal

Withdraw different crypto, You can MIX Convert and Withdraw. Withdrawal as USDC, which should be ERC20, I wonder if it will consume extra ETH.

As prompted, converting USDC and withdrawing funds may only be possible using Coinbase (not Coinbase Wallet)

OR use same crypto to send them.

Send to Coinbase or other address

LTC cost 0USD and send to Coinbase

Analysis

You may have trouble withdrawing funds if you do not use Coinbase's built-in trading and conversion functions.

In PICs, LTC and BTC can be used without problems. DOGE and BCH should be same.

USDC、DAI、ETH may have problem,they use ERC20 only.

I'm not sure how to avoid potentially high GAS fees.

And there may be a high withdrawal threshold for transactions to close them.

Coupled with their own high transfer fees, I don't think many people would want to use them

In short, LTC is enought, BTC、BCH、DOGE is good, USDC is bad, DO NOT USE ETH and DAI

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