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#307 – Brian Armstrong: Coinbase, Cryptocurrency, and Government Regulation
Lex Fridman Podcast
How Much Slippage Is Enough?
Coinbase gives you a quote based on an order book. It's not price fixed, but there is some slippage and by the time the quote is executed, if the price has moved too much, like we may reject it. And then what's happening is we're initiating a debit to your payment method,. Whether that's a credit card or a bank count or, you know, you're storing dollars or euros or something on our platform. There's various payment methods. So we're basically debiting that. And then we're crediting you the crypto. We're taking a fee for it too.
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