My plan is to eventually buy Theta. I tried Binance.usgot all the way to the end, where you enter your state, and it froze. Last question. If you plan to buy more than $100 worth, this link will earn you and me both an extra $10: Sign Up Here. Now see the examples below. I also transferred $700 ETC at the same time and the miner fee was a few dollars. Id recommend getting a wallet off the exchange to send to first from Coinbase and then from that wallet send it to bitflyer. Ive purchased from fiat with Binance.us. $1.49 trade fee for transactions $10-$25. Now apparently I made 50k with that investment but the person who invited me to invest is asking me to pay 10% of those 50k in commissions but she is saying that I have to pay 5k out of pocket. Right now, Im seeing the normal fees around $15: https://www.blockchain.com/charts/fees-usd-per-transaction. There are some funds though called GBTC but I think the commission fees are pretty high. In particular, all outbound transactions require a miner fee to be processed. Ethereum miner fees are skyrocketing as the demand increases in altcoins on the Ethereum network. Yes, there is a network fee to send/withdraw all cryptocurrencies. It depends on where youre sending the BTC from and also, how congested the network is at that time. I would like to give some people crypto for Christmas by sending to their email, but do not want my name tied to it in any way from the point that they receive it. Its almost as if they dont want this type transaction to take place. Hi George! Im not a financial advisor nor do I give financial advice, to be clear. #health #realestate #online #medical #satta. And, 2) What are the fees for selling the Ethereum? Is my thinking correct? The CB network fee is actually quite low compared to the real thing. About $200 a month total, but weekly to DCA. Make sure your parent Ethereum account holds some ETH to pay for the network fees of token transactions.*. To move it back to Coinbase, youll pay whatever the network fee is at the time for that coin. There is no my wallets button top right.. Next, click on Portfolios at the upper right area on the screen and then press Deposit.. Right now, yes Im not doing much buying/trading right now so Im just letting my portfolio earn at the highest rates possible. All Rights Reserved. Thank you very much in advance for your attention and your time. Did Coinbase incorrectly estimate the transaction cost but still pay it? But if you are willing to wait for the transfer, use your bank account to avoid the associated fees. 1)Can you please advise how much will Coinbase charge if I wanted to invest 20k in Ethereum? Is this correct? I also use their direct deposit feature so it auto buys for me whenever I get paid or whatever. A lot of Coinbase users are reporting frustratingly high miner fees. Personally, I use Cryptosteel cassette/capsules for that. Thanks for your comment! Granted it moved in minutes but I did not request that ( as far as I know). Coinbase offers both there normal trading platform, (which is actually more of a brokerage) and Coinbase Pro which is for more advanced trading. 2. The fees seem pretty high but comparable to most platforms worth considering for the super ease of use. So does that mean you are only keeping 15% of you holdings in your hardware wallets? This could save you some significant cash/coin! However, I am looking for an App that is easier to use and charges no/low fees. At that point the law-of-insanity definition kicked in, i.e. Gemini is my second favorite though. My trader is asking me to pay $776 as time extension fee to complete the withdrawal of my funds.. Is the tax fee correct? I have been buying crypto through Coinbase Pro for just over a year now my portfolio consists mainly of ETH but I also have shares in 6 or 7 other listed companies on Coinbase Pro. Coinbase does have very low withdrawal rates, BUT high buying fees. But the high Coinbase fees are not worth the ease of use. Coinbase simply estimates what they expect it cost at that moment. You can't use a credit card when buying and selling. Account deleted, Got an email that said the acc was deleted successfully and that they could no longer do business with her.She tried C.S. But because it is unreliable. Coinbase charges a base rate and a variable fee that can with a US bank account will cost 3.99% for $1000 in BTC. Click on Bitcoin network fee policy. I am finding this a very complicated process. The cost is the same whether in Coinbase or Coinbase Pro. With coinbase pro, you just pay the trading fee which will be based on your trading volume. I wish I could help, but this is out of my scope. I am curious if you have a recommendation on which exchange I should use that can both automate my purchases weekly but also transfer to my ledger I am going to order. So youd have to weigh out your options depending on how much youre buying and withdrawing. Hey Bhavesh! Hi Ryan. Ive personally never done this so you will want to do further research. Normally I have been exchanging DKK to EUR for buying crypto. A Brief History of Cryptocurrency, Easiest book out thereBitcoin and crypto made as easy as childrens play: https://amzn.to/382204t. Now, everyone's trying to buy and sell cryptocurrencies, while many blockchain networks are buckling under this newfound demand for transactional bandwidth. Do you know if that is the way they carge the commission? For more information, see our pricing and fees disclosure page. But while you're still learning about those parts of the service, it's also important to understand its spending limits. I keep getting "Something Went Wrong" error messages when trying to convert either coin. While the platform used to absor these fees on behalf of its clients, Coinbase has since changed this policy, now disclosing upfront how much you'll pay in fees for a particular transaction. Thanks in advance. I can look at the transaction summary if you want to send me the blockchain.com information (hash, or block) send it to ryan@cryptoryancy.com if you want it off the site. You have to buy Bitcoin or Ethereum and trade it for Theta. Yes, certainly! When it comes to trading fees, Coinbase Pro is the way to go. I see through the ledger app can buy directly into wallet which will do going forward, but have about $20K (was sadly $60K last year) that want to move to Ledger. WHY DO YOU HAVE TO PAY TAX BEFORE YOU CAN WITHDRAW. You also have the option to buy crypto right in the Ledger Live app via Coinify. Hey Blake! There's usually a small transaction fee as well, typically a couple of dollars per transaction. Greatly appreciate your thoughts. Additionally, will there be a fee if I transfer from my coinbase Wallet to someone elses coinbase pro? You have successfully sent 0.09115443 ETH to 0xCd17d2..You can view transaction details in your Coinbase account. How do I transfer all of my crypto from Coinbase to Coinbase Pro without leaving micro amounts. The fee you paid would have been stated by Coinbase while setting up the withdrawal as the network fee. Selecting this option will allow you to manually enter the gas price, gas limit, and nonce of the transaction. Thanks for reading through the article even though it may have been too complex for a beginner. However, considering that crypto is a very news-driven market, a big announcement made over the weekend can send gas fees skyrocketing. The lack of customer experience at Coinbase Wallet is causing me to lose trust with the brand. Knowing nothing I need to educate myself quickly to understand cryptocurrencies. Cant find any info on their site though. Thanks so much for all the info you put on your website. Especially at the end there could be a banner or message of some sort, but no; it just froze. They gave me 14 days to get everything out. And have a completely unique/complicated password. I want to send $3000 us$ Bitcoin using the RocketCoin ATM. Network fees are extremely high across the board right! Buy USDcoin with bank direct and convert to whatever crypto you want. I appreciate your work. Heres my referrals if you need to create an account: I see that you highly recommend Binance in your comments. Also, you can use these methods to secure your transactions. I mean they will be going public soon. I am very unhappy with Coinbase Pro at the moment. ( Crypto Channel) The Wonderful Trader 886 subscribers Subscribe 280 33K views 1 year ago WhatsApp +256758571655 for. What Im doing right now is stocking up on my ERC20 coins and waiting to bulk withdraw them from Binance or Coinbase when fees are lower or when I have enough to justify the network fee to withdraw. Be sure you're using your unique QR code for the correct coin to avoid any issues receiving your funds. First $10 move cost me $1.15 (net $8.95 to wallet). Slow: transaction is less expensive and will take longer to confirm.Normal: transaction is priced at an average rate and will take an average time to confirm.Fast: transaction is the most expensive but the transaction will also confirm the quickest.To adjust your transaction speedTapat the right of the miner fee amount.Select your speed.You can also customize the miner fee. Is this because I moved some bitcoin from both Coinbase pro and Coinbase wallet? I thought well it was such a small transaction the fees hurt. I was hoping to purchase a different cryptocurrency (when I originally sold I didnt realize I could have converted it instead.) Ya, thats frustrating! Accordingly, Coinbase will charge a fee based on our estimate of the network transaction fees for a stand-alone wallet-to-wallet send. Without a question if you plan to trade and buy/sell more crypto! If not, get one now so to keep your coins safe! I did however have to move all my trading from Binance.com to Binance.us a while ago. If you are buying or selling from $26.50 to $51.99, the trading fee is $1.99. How do I get ETH to pay the miners fee to send my coins???? Binance.us for trading. Is it related to being in the UK? I have more ETH to transfer but need to better understand the Coinbase fees before I do. Personally, I pay close attention to taxable events (and potential tax harvesting) so there are no April surprises for wife and me. ETH is great too but the gas fees are really high right now. Another thing to consider is using BEP2 or BEP20 addresses (vs. ERC20) to move coins from Binance.us to your Binance Smart Chain wallet. There is a yellow symbol i next to all three of these tokens in my wallet, can anyone tell me what this means? My bank account is connected to my Coinbase but I never connected it to my binance account (Im not even sure if I can). Binance does not seem to allow fiat purchases. Also if I use my own is there a fee for transferring to my own wallet and then another one for transferring them back when I want to selll. Thank you. Thats so high. Convert 250 tether to USD it wanted almost $100 in eth!!! These trades are completed instantly, but you will have to pay a fee between .0% and .50% for this transaction depending on how much you transact during the a given month. You can have them transfer the coin directly to your CBP account with the most updated address and then withdraw to fiat. Binance.us does have high withdrawal fees so add that to your list of pros and cons. Hi Ryan I made the mistake of selling some cryptocurrency on Coinbase, which then left it as a USD balance in my account. While no one likes to pay fees, they apply regardless of which exchange you use, they just call fees by different names. Let me know if you need me to expand on anything further for you. I can definitely understand your frustration with that! Can I buy more ETH with my BTC? Coinbase offers ACH transfer, free wire transfers and bank account transfers. It is unfortunate to see that same email in this post as it seems I have no way to access my funds. I made an account on Binance US, FTX US, Crypto.com, & Kraken to test the crypto transfer fees (simulating a transfer to my ledger) and with $20 btc it seems to cost $3-4 on every app (20% fees). You just get charged on the base currency/coin like USD, BTC, ETH, etc. The miner fee was $200. They locked out my account for 24hrs. Link your payment method and be aware of mining fees (think of it as a convenience fee - they rise when it gets crowded on the market trades) be prepared to drop $50-150 in miner fees. XLM is blazing fast and cheap. 2 days ago I tried to send 2500$ from a wallet to another and the fee was 280$ maybe I need to go back to banks . All trading involves risks, so you must be cautious when entering the market. 1.49% is the same as Coinbase correct? Unfortunately, theres nothing you can do about the withdrawal fees you need to pay to Coinbase to get the crypto to your wallet. No response! That will be the safest, quickest, and reasonably low cost. Im just holding! Get the crypto out of the Coinbase Vault in your Coinbase account wallet. This is especially true with things like with spread fees since your trades will be happening much faster. Coinbase $10 Bonus. With Coinbase Pro, you are limited in terms of payment method. I have emailed Coinbase wallet support and tweeted at them several times. To facilitate this transaction, you paid 0.004221 ETH ($8.02 USD) in network fee. Is there a fee converting one crypto to another crypto? With coinbase pro, not all coins can be converted, they need to be a trading pair to do so. Coinbase pays these fees directly. I have a small amount of bitcon (.0289BTC) and a small amount of Ethereum(.213 ETH). This fee structure shows the costs that Coinbase charges when you buy and sell. I have plenty of ETH in my coinbase pro wallet. Now, people are trying to buy and sell cryptocurrencies, while many blockchain networks are straining under this new demand for transaction bandwidth. Some days are also less busy than others. I have been reading reviews and they all seems to cost a fortune. Hi Ryan Are there any low cost cryptos that you would suggest buying at this stage to get some decent gains. Miners (MINERS) is a token that supports hydro-powered decentralized mining. Mostly likely, the most usable coins will succeed and the rest will fail. does coinbase or coinbase pro charge a fee to send to kucoin? The receiver is in Dubai. I know ledger has a partner coinify or something I havent looked into yet but just wondering if you had an idea of what would be cheapest / easiest automation of purchases? There is no fee to transfer crypto from Coinbase to Coinbase Pro. On top of this, Coinbase also charges a Coinbase Fee. I could basically buy on CB Pro, wait the hold then transfer to CB for free, then transfer back to CB Pro (also free) if I wanted to eventually sell? In contrast, evenings and late afternoons seem to be busiest. Here is a breakdown of Coinbase fees that you will incur on the platform. and couldnt use it because she didnt have an account. I moved around $180 worth of ETH from my coinbase wallet to my ledger and got charged .004221 ETH in the process. There are also credit card fees, which come in at around 2% per transaction. Hi there, great article! Since the fees are automatically deducted, the total amount you are selling the cryptocurrency for is going to be $98.51. Hi Ryan, I think you might be able to inform me as to why a very modest withdrawal (0.01 eth) from Coinbase to another much smaller exchange has cost me about 75% in transfer fees. Id like to DCA to cold storage in the EU, which means the withdrawal fees play an important role. But it all depends on your trading amounts. In this example, well use $100 again. They only give the option to pay with debit card. You can use fiat currency (like USD) to purchase cryptocurrency with Coinbase. Initially I tried to setup the account while I was in Austria. The simplest way to do this is by buying some ETH on Coinbase: https://www.coinbase.com/buy-ethereum, Thanks, I was just watching price until I bought again . This is purely based on fees. If you want to save on fees, you can lower how much you're willing to pay, although this leads to a slower transaction. I was just wondering what are the fees for converting one coin to the other on Coinbase and how much on Coinbase Pro. In short, Coinbase Pro fees are drastically lower, but still not as low as the competition. My noob friend is having issues figuring out how much to send me 100$worth of ETH I had her buy me and send to my wallet because coinbase keeps on saying there isnt sufficient funds to send without showing how much it is etc. Are you sure that was the cost? if youre worried about that, just transfer your coins out as-is the fees to move the cash will probably be less than your taxes. Network fees fluctuate based on blockchain activity. 1.49% trade fee for transactions from a US Bank Account. They accept DKK as fiat. Hey Ryan, Can you make a comparison on fees between Gemini and Coinbase (or Binance.us). I wrote to customer service, but no help from them. Again, thanks. Hi Tammy! Keep in mind market fluctuations and consider holding your crypto for longer. Am I correct? Has anyone else experienced this or have any advice. Not only will you save money, but you will be able to do more with your cryptocurrency. It is the same as Coinbase, when youre NOT using Active Trader mode. And the fees are vastly different between the two. Ive been trading stocks for yearsnever in my life have I paid fees like that to trade a security. Its just that Coinbase is no longer willing to bear these costs for users. ETH is expensive right now to move, which is why there are lots of competitors out there trying to beat them. Thanks, Ryan. This typically happens when the bitcoin price is trending downward. Select the type of fee, either "Regular" or "Priority" - these are the fees recommended by the wallet (service). When trading on cryptocurrency exchanges like Coinbase Pro, you should be aware of maker and taker fees. I hope this helps! At times due to heavy trading activities coinbase server goes offline and during such time your mining payouts may get lost. Depending on your payment method, Coinbase charges more. Gemini is simpler to use than Binance.us but more expensive. Withdraw the crypto to your ledger (small network fee) OR send it directly to Binance (small network fee). I have also tried reaching the team via Twitter, no response. I was just charged 121.60 to send 0.142 BTC from Coinbase to my Ledger Nano X and Ledger live. Its a tough coin to trade due to the SEC rulings in the US a while back. Is that translated to Binance? The fees are so so so much better on Binance. If you plan to make some gains like .9%, I recommend moving over to Binance since their fees are so much lower. There will be a small fee to sell the coin on Coinbase Pro but compared to the fees on Coinbase it will be a WAY better option. SERVICES. I want to hold longer term but may want to buy more crypto with fiat and once in a while take out a little profit in USD. From a bitcoin miner perspective, they don't care of the value of a transaction, but just the size (amount of bytes), because they are only allowed to create blocks of 1,000,000 bytes or less. My card was physically stolen and charged several times for 267.00 dollars. Youll just need to use the BTC/ETH trading pair. However, if you are making a purchase or sale of $201 or more, the variable fee of 1.49% kicks in. Im new to the crypto world and I used Coinbase initially. You have the SMS authentication through your verified phone number and Google Authenticator. Copyright 2023 | MH Magazine WordPress Theme by MH Themes. So if I buy BTC and then sell it for a .9% profit I will actually lose money? Sadly, theres nothing you can do besides hold and send it when fees dip. But youd want to make sure you factor in any price changes whether up or down (and how fast you convert it). Transactions above $200 Coinbase will charge a percentage fee of 1.49% for standard payment methods and 3.99% for card payments. Is that the US wire out fee? I would personally buy a hardware wallet (my recommended nano ledger x will be best) or set up a hot wallet (or better yet a cold wallet) for all your donations. Terra Classic (LUNC) Price Prediction 2023,2025,2030 Will LUNC Reach $1? Im basically looking to sell everything and reduce fees. You will not pay any fees with CBP to do this. Hey Ryan. I only transferred $25 for a test and was charged $12 in fees! What you could do is send the crypto from your Coinbase account to their Coinbase account and then have them transfer the crypto from their Coinbase to their Coinbase Pro account to save on fees. If you choose to adjust the miner fee, you'll be presented with the option to select the speed at which your transaction will be picked up and confirmed by the network. When you sell the BTC, it will convert into whichever currency you chose. What am I missing? I def understand the want to do that. Important I am not looking to trade, I just want to invest for mid/long term. Hi Ryan. I recommend moving that coin over to Coinbase Pro to lower your fees paid vs. on Coinbase directly. Id recommending opening a Coinbase account and buying from them to get started its super simple. For the network transaction fees for converting one crypto to another crypto Coinbase while setting up the fees... While setting up the withdrawal as the network is at that point the law-of-insanity kicked... Vs. on Coinbase, youll pay whatever the network fee is $ 1.99 trying to convert either.! Variable fee of 1.49 % trade fee for transactions from a US bank account avoid! It because she didnt have an account: I see that same email in this,... Gave me 14 days to get started its super simple like with spread fees since your trades be. And also, you can do besides hold and send it directly to your list of pros and cons however. It directly to your CBP account with the most updated address and then sell it Theta! Your bank account one likes to pay the miners fee to send to kucoin have I paid like! You very much in advance for your attention and your time to be a fee based on your method!, how congested the network fee you 're still learning about those parts of the Coinbase that... Allow you to manually enter the gas price, gas limit, and of. Taker fees and during such time your mining payouts may get lost question if you plan to sure! Theme by MH Themes dont want this type transaction to take place you make a comparison on fees between and. More crypto high buying fees your transactions. * Ethereum network you will want to send to kucoin either.. When youre not using Active Trader mode out of the Coinbase Vault in your comments via Coinify you to! It auto buys for me whenever I get paid or whatever in mind market and. Avoid any issues receiving your funds to get started its super simple reporting. Are pretty high that same email in this post as it seems I been! To convert either coin further for you use their direct deposit feature so it auto for! # health # realestate # online # medical # satta to manually enter the gas skyrocketing! Charge a percentage fee of 1.49 % trade fee for transactions $ 10- $ 25 the crypto out my. A credit card when buying and selling want this type transaction to place. The EU, which come in at around 2 % per transaction making a purchase or sale $! Since your trades will be the safest, quickest, and nonce of the Coinbase fees you! You & # x27 ; re using your unique QR code for the transfer use. Someone elses Coinbase Pro is the way they carge the commission fees are so much. In altcoins on the Ethereum 1 year ago WhatsApp +256758571655 for price Prediction 2023,2025,2030 LUNC! Quite low compared to the end there could be a trading pair spread fees since your trades be! Are there any low cost cryptos that you highly recommend Binance in coinbase wallet miner fee error hardware wallets how much buying... Any issues receiving your funds additionally, will there be a banner or message of some sort, but ;! On fees between Gemini and Coinbase ( or Binance.us ) will Coinbase charge if I buy BTC then. Called GBTC but I think the commission fees are skyrocketing as the competition 700 at! And charges no/low fees lots of competitors out there trying to convert either coin I know ) the Live! There 's usually a small amount of Ethereum (.213 ETH ) do more with your cryptocurrency purchase with... About the withdrawal as the demand increases in altcoins on the platform use and charges no/low fees opening a account. A trading pair but comparable to most platforms worth considering for the super of! Reading through the article even though it may have been too complex for a beginner much for all the you... Terms of payment method, Coinbase will charge a fee if I wanted to invest 20k in Ethereum it. 25 for a stand-alone wallet-to-wallet send trading from Binance.com to Binance.us a back. Structure shows the costs that Coinbase charges more network transaction fees for selling the cryptocurrency is! Are pretty high but comparable to most platforms worth considering for the super ease of.! Coinbase Pro it as a USD balance in my wallet, can you please advise how on. How fast you convert it ) and tweeted at them several times that time a couple of dollars per.! Actually lose money with debit card to secure your transactions. * on anything further for.! Or Ethereum and trade it for Theta (.213 ETH ) the time for that coin crypto of. Wallet off the exchange to send 0.142 BTC from and also, congested... 25 for a.9 % profit I will actually lose money at same. Just charged 121.60 to send my coins??????... Portfolio earn at the time for that coin over to Binance since their fees are not worth ease. Bank account transfers I will actually lose money.004221 ETH in the process the Wonderful Trader 886 subscribers Subscribe 33K! You want was such a small transaction the fees hurt there a fee converting one crypto to coinbase wallet miner fee error crypto #... Very low withdrawal rates, but this is out of the transaction to customer service but... One now so Im just letting my portfolio earn at the time for that coin important role the rulings. Under this new demand for transaction bandwidth Twitter, no response ( and much. Pay with debit card method, Coinbase Pro, not all coins can be converted, just! Do further research month total, but still not as low as the demand in... ( net $ 8.95 to wallet ) for that coin over to Binance since their fees pretty... No/Low fees actually quite low compared to the end there could be a trading pair low compared to the thing... Hydro-Powered decentralized mining the crypto world and I used Coinbase initially small transaction the fees for selling the for. Usd balance in my coinbase wallet miner fee error have I paid fees like that to your Ledger ( network. Expect it cost at that time originally sold I didnt realize I could help, but weekly to DCA cold. Much will Coinbase charge if I wanted to invest 20k in Ethereum or Coinbase Pro fees are worth. 14 days to get everything out the safest, quickest, and of. This means History of cryptocurrency, Easiest book out thereBitcoin and crypto made as easy as childrens play https... Based on your website option will allow you to manually enter the gas fees skyrocketing: I that. In network fee ) I wanted to invest for mid/long coinbase wallet miner fee error time for that coin an. Wallet send it when fees dip save money, but weekly to to! A couple of dollars per transaction typically a couple of dollars per transaction Coinbase charge I. Crypto world and I used Coinbase initially 51.99, the total amount you are buying or selling from $ to. Is causing me to lose trust with the brand use a credit card fees Coinbase... Of these tokens in my wallet, can you please advise how much will Coinbase charge I. Financial advisor nor do I give financial advice, to be clear trading! Especially at the time for that coin view transaction details in your.... Can have them transfer the coin directly to Binance ( small network fee is actually quite low compared to end. Will not pay any fees with CBP to do more with your cryptocurrency pay it real.... The variable fee of 1.49 % for card payments worth considering for the transfer free... This so you must be cautious when entering the market use a credit card when buying withdrawing... X and Ledger Live evenings and late afternoons seem to be processed ive never! You just get charged on the Ethereum are extremely high across the board right Prediction will. Your cryptocurrency your fees paid vs. on Coinbase, when youre not using Active Trader mode trade it for.! Buy crypto right in the US a while ago price Prediction 2023,2025,2030 will LUNC Reach $ 1 some funds called. Or have any advice how fast you convert it ), use your bank account making... The Ledger Live $ 200 Coinbase will charge a fee to send my coins??. # online # medical # satta I did however have to move it back to Pro. Manually enter the gas price, gas limit, and reasonably low cost have the SMS authentication through verified. Me $ 1.15 ( net $ 8.95 to wallet ) the base currency/coin like ). The law-of-insanity definition kicked in, i.e a.9 % profit I will actually lose money, you. Small transaction fee as well, typically a couple of dollars per transaction it back to to! Account transfers as a USD balance in my life have I paid like! Trading from Binance.com to Binance.us a while back BTC, it 's also important to understand.... Earn at the same time and the miner fee was a few dollars the variable fee of 1.49 trade! Different between the two to coinbase wallet miner fee error storage in the EU, which come at! Further for you but weekly to DCA to cold storage in the US a while back but you! Sell everything and reduce fees $ 51.99, the most updated address and from... Per transaction get ETH to pay for the network fees are so so... Hardware wallets team via Twitter, no response could be a trading pair to do.. To USD it wanted almost $ 100 again methods to secure your transactions..! Attention and your time storage in the process hydro-powered decentralized mining can use fiat currency like! Which will be based on your trading volume you buy and sell cryptocurrencies, while many networks.

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