Coinbase Pro

What is Coinbase Pro

Coinbase stands out as one of the crypto industry's most established and reputable exchanges. It holds the title of the largest exchange in the United States and ranks as the second-largest globally, following Binance.

Notably, Coinbase was the pioneer in the cryptocurrency space to go public and is renowned for its commitment to regulatory compliance, making it a preferred choice for both individual traders and institutional investors. To cater to the needs of institutional clients, Coinbase introduced a crypto lending service in the United States, successfully raising over $57 million by September 1, 2023.

Although originally headquartered in San Francisco, Coinbase, like many tech companies, has embraced a location-independent approach as it expands its global presence. While Coinbase already offered a successful platform for buying, selling, and holding cryptocurrencies, it had a separate trading platform named GDAX, designed for more experienced traders seeking advanced charting tools and order execution options. In 2018, GDAX was rebranded as Coinbase Pro, providing individual traders with a secure and user-friendly platform for trading digital assets.

 

Coinbase Pro's Key Features Coinbase Pro Mobile App

Coinbase Pro provides a mobile app for traders on the move, designed for monitoring positions and performing basic trading activities. While mobile apps might not be the preferred tool for professional traders, Coinbase Pro's mobile app is well-built, user-friendly, and highly rated on both Google Play and the App Store. 

Multiple Trade Options: Coinbase Pro introduces various trade options not found on the standard Coinbase platform

Market Order: Immediate execution at market prices. 

Limit Order: Execution at a predefined price. S

Stop Order: Risk management tool with simultaneous buy/sell orders. The order life parameters offer added flexibility, including Good Till Cancelled (GTC), Good Till Time, Immediate or Cancel (IOC), and Fill or Kill (FOK). 

Advanced Charting: While Coinbase Pro's charting functionality may be limited compared to other platforms, it allows users to adjust chart views to fit their preferences, including minute-by-minute trading, various chart styles, and viewing exponential moving averages. Coinbase Pro is often complemented by third-party charting tools like TradingView for advanced technical analysis. 

 

Coinbase Pro vs. Coinbase 

Before diving into the specifics of Coinbase Pro, let's clarify the distinction between Coinbase and Coinbase Pro. Both platforms belong to Coinbase Global Inc., allowing users to purchase cryptocurrencies using fiat currency. However, they cater to different needs: Coinbase, often the go-to choice for beginners, offers a user-friendly interface for basic buying, selling, holding, and swapping of cryptocurrencies. Coinbase Pro, on the other hand, is tailored for advanced users, featuring comprehensive charting, diverse trading pairs, and lower fees, making it the platform of choice for experienced traders.

 

Fees and Pricing

One of the major attractions of Coinbase Pro is its fee structure. It operates on a maker/taker fee model, where fees vary based on your trading volume over a 30-day period. By choosing Coinbase Pro, users can save considerably on fees compared to Coinbase, which is a more convenient but fee-heavy platform.

 

Cryptocurrencies Available on Coinbase Pro 

Coinbase Pro boasts over 140 cryptocurrency pairs, including major coins and speculative assets. However, it currently lacks support for margin/leverage trading and derivatives/options/futures markets, which sets it apart from competitors. To expand its offerings, Coinbase has acquired FairX, a CFTC-regulated derivatives exchange, indicating a forthcoming expansion in tradable assets. 

 

Deposits and Withdrawals at Coinbase Pro

For users dealing in USD, GBP, or EUR, both Coinbase and Coinbase Pro serve as efficient fiat on and off-ramps. Coinbase Pro supports these fiat currencies, facilitating deposit and withdrawal via various methods. Final Thoughts on Coinbase Pro.

 

Final Thoughts on Coinbase Pro

In conclusion, Coinbase Pro remains a trustworthy exchange known for its security and regulatory compliance. While its fee structure is more favorable than its parent platform Coinbase, Coinbase Pro's competitors offer a broader range of tradable assets and advanced features. As Coinbase continues its efforts to enhance its platform and expand its product offerings, it's clear that the exchange is committed to remaining a key player in the crypto space. While slow and steady may not win the race, it could be the recipe for long-term success in an industry that continues to evolve rapidly.