By reading the article “Coinbase vs. Coinbase Pro” published in Adaas Investment Magazine, you will get acquainted with the coinbase exchanges and the differences between Coinbase and Coinbase Pro in general. This level of familiarity can be enough for you to invest in the cryptocurrency market.
Many professional investors and traders new to the cryptocurrency market recognize Coinbase as one of the largest and most legal exchanges providing cryptocurrency trading services.
Both Coinbase and Coinbase Pro exchanges are owned by Coinbase Global, Inc. The differences between the two exchanges are very simple and practical at the same time. Simply put, the Coinbase exchange is designed and developed for new entrants and the registration of their first purchase and sale orders, and on the other hand, the Coinbase Pro exchange is designed and implemented for professional traders and investors and their transactions.
At Coinbase, the visual design and user interface are very simple and easy to buy and sell. But in Coinbase Pro, price charts, different types of buying and selling orders, and so on are provided for users.
The two exchanges, Coinbase and Coinbase Pro, have different fees for registering transactions and depositing or withdrawing money to the exchange for users.
The Coinbase exchange may be a better choice for newcomers because of the simple user interface and easier use of the service, but on the other hand, the costs that users pay to receive services at this exchange are much different from the Coinbase Pro exchange.
|TRANSACTION||Coinbase FEE||Coinbase Pro FEE|
|Buy/Sell with Bank Account||1.99%||0%-0.50%|
|Buy/Sell with Credit/Debit Card||4.49%||N/A|
|Buy/Sell with Coinbase Wallet||1.99%||0%-0.50%|
|Wire Transfer||$10 ($25 outgoing)||$10 ($25 outgoing)|
|Instant Card Withdrawal||Up to 1.5%||N/A|
Buying and selling at the Coinbase exchange carry a minimum of 4% commission for the user. For example, in a $1,000 purchase order, the user will pay $40 for the commission to the Coinbase.
At Coinbase Pro, the fees are much lower than at Coinbase. The reason for this price difference is the use of the Maker-Taker strategy in calculating the transactions cost.
When users place their orders at the Market price to be done instantly, they are known as Takers who have to pay more fees. People who place their orders in the Order Book to find an order according to their request will be included in the Makers list and will pay a lower fee.
Both exchanges provide maximum security and protection for their users. But in the meantime, sometimes there are security features that are seen in the Coinbase Pro exchange and do not exist in the standard Coinbase exchange.
In both Coinbase and Coinbase PRO exchanges, it is possible to enable two-step authentication by sending an SMS to the verified number or using Google Authenticator application.
One of the features of Coinbase Pro is the ability to restrict cryptocurrency withdrawal addresses. Thus, withdrawals are made only to addresses selected by the user and no other addresses are supported. This feature is not found in the Coinbase exchange.
Both exchanges offer a built-in wallet to hold users’ Cryptocurrencies. These wallets are sufficiently secure, but the users’ assets are under the control of the exchange, and they have provided a so-called custodial wallet for their users.
Up to 98% of the assets in Coinbase and Coinbase Pro exchanges are stored and protected offline in hardware wallets. This feature keeps digital assets out of the reach of hackers and increases the security of users’ assets.
If your assets are in US dollars up to $250,000, your account will be covered by FDIC insurance by Coinbase and Coinbase Pro. But the important point is the lack of support for crypto assets in this insurance.
With more than 4,000 cryptocurrencies on the market, Coinbase and Coinbase Pro exchange only support cryptocurrencies which have sufficient trading volume and do not violate US law.
The minimum purchase limit is $2 at Coinbase Exchange and 0.001 BTC, 0.01 BCH, 0.01 ETH, or 0.1 LTC at Coinbase Pro Exchange. These two exchanges offer almost the same cryptocurrencies and you can see the supported currencies through the following link.
Both exchanges offer a variety of features such as easy trading, sufficient security to protect their users’ information and assets. In the following, we have compiled the most important features that are unique to each platform for you to make your decisions with full awareness.
The Coinbase Pro Exchange offers much more professional trading features than the Coinbase Exchange. In this version, users can use the ordering feature in transactions to implement the loss or profit of their transactions automatically.
Advanced price charts and analytics tools are also available to users at the Coinbase Pro exchange. Users can view changes in the price of cryptocurrencies over a period of one minute to a month, as well as use tools such as moving average prices to increase the accuracy of their analysis.
In Coinbase Exchange, trading features are much simpler, but on the other hand, features such as free training and earning money by participating in training courses are only available in this version.
Coinbase also provides price alert tools for users who want to set a price so that when the price of that cryptocurrency reaches that range, a message will be sent to them automatically.
Finally, considering the features offered by the two big exchanges, Coinbase and Coinbase Pro, it is easy to understand that if you are a professional investor and fluent in the basics of trading in financial markets, Coinase Pro is the best choice for you.
On the other hand, if you are a newcomer and you are learning the knowledge of trading in the financial market, Coinase Exchange with a simple user interface is a better option for you than other exchanges.
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