Coinbase and Coinbase Pro are two of the most popular crypto exchanges, with hundreds of billions of dollars traded through the platforms.
They are designed to help users trade, buy, and sell crypto. This article will provide the necessary details about Coinbase and Coinbase Pro alongside its similarity and differences.
Coinbase Wallet is a self-custody wallet that gives traders complete control of their cryptocurrency.
This implies that the Wallet’s private keys (that represent crypto ownership) are stored directly on the trader’s mobile device and not with a centralized exchange like Coinbase.
About Coinbase Pro Wallet
Coinbase Pro is a trading platform for traders and crypto enthusiasts. It offers an easy and secure way for individuals to instantly buy, sell, and trade crypto online across various trading pairs.
With a Coinbase Pro account, traders can track the market, monitor open orders, and view trading history.
Coinbase Vs Coinbase Pro Differences
Coinbase Pro and Coinbase are well-known crypto exchanges owned by Coinbase Global Inc. Both platforms allow you to use fiat money to buy various currencies.
Beginner traders appreciate the simplicity of Coinbase, whereas seasoned traders like the advanced options provided by Coinbase Pro. Platforms differ in fees and purchasing choices.
Coinbase Pro platform works as an exchange where people sell and buy from each other, While the Coinbase platform is like a brokerage with a virtual wallet.
New traders use Coinbase because it’s simple to buy and sell crypto. Traders or investors don’t need to learn investing lingo. Instead, they can jump on the platform and start trading.
Individuals familiar with trading use Coinbase Pro to take advantage of diverse trading types.
The platform is also easy to use, so new traders can quickly familiarize themselves with the terminology and start investing.
Coinbase Vs Coinbase Pro Features
With the Coinbase platform providing features ideal for new investors, the Coinbase Pro platform gives investors the rich feature-set required for busy traders or investors. With Coinbase Pro and coinbase, you will get:
- Mobile applications: Coinbase and Coinbase Pro have a highly rated mobile apps, offering an experience like what you will find in the web browser.
- Digital Wallet: The platform provides a hot wallet with multi-coin support and ways to earn crypto. You don’t need to be a Coinbase user to access the digital Wallet.
- Availability: Various functions are available in more than 100 countries with limitations.
- User education: The Coinbase platform offers a knowledge base of video tutorials, how-to articles, and guides with market updates.
Coinbase Pro platform users enjoy advanced features for experienced traders. Its intuitive app offers real-time charting tools with exponential moving averages.
Traders can also view their trade history, order book, and price charts. Transaction types are also different, with Coinbase allowing sell, buy, send, and receive transactions, and Coinbase Pro provides advanced options, such as limit, stop and margin orders.
Coinbase Vs Coinbase Pro Fees
Coinbase and Coinbase Pro are different in fee structures, with Coinbase being more complicated to understand and expensive, and Coinbase Pro uses a maker-taker approach and costs less.
According to Coinbase, “the base rate for all sale transactions and purchases in the U.S. is 4%.” But the fees vary based on the payment method and location.
Coinbase platform charges a higher amount for either a variable fee or flat rate based on the payment method.
Coinbase Pro platform uses tiers, with more or higher dollar transactions coming with lower costs.
Coinbase Vs Coinbase Pro Advanced Trading
The primary offering of Coinbase has a more straightforward interface that might appeal to new investors.
At the same time, Coinbase Pro offers more types of trades, lower fees for most transactions, and additional data tools.
Coinbase Vs Coinbase Pro Tax
Coinbase Taxes reflects your activity on Coinbase.com but doesn’t include Coinbase Pro activity.
Recommended:
How to Fund Coinbase Account – Step by Step Guide
How to Buy Bitcoin with Paypal on Coinbase – Complete Guide
How to Get Coinbase Pro App – An Easy Step By Step Guide
How to Make Money on Coinbase – An Easy Guide to Make Fast Money on Coinbase
Coinbase Vs Coinbase Pro API
Coinbase Global Inc owns both platforms, but the Coinbase platform is more like a virtual wallet, while the Coinbase Pro platform is suited for traders that are advanced in trading and ready to trade with other users.
When comparing Coinbase and Coinbase Pro, there are a lot of similarities and differences. Both platforms have access to similar currencies; they are both regulated exchanges with insurance and offer extremely safe storage of your digital assets.
If you are a new investor in the cryptocurrency space, Coinbase is an ideal starting point. With its simple user interface and easy navigation, simple price charts, and user education built right in; you can become knowledgeable in a short period.
If you are looking to trade cryptocurrency actively and want access to advanced charting and other tools, Coinbase Pro is meant for you.
FAQ
Is Coinbase Better than Coinbase Pro?
Both platforms provide excellent security and ease of use. Although Coinbase has higher trading fees, it’s built for people new to investing in crypto. Coinbase Pro platform offers more transaction types with lower costs, perfect for active traders.
Is it Worth Upgrading to Coinbase Pro?
The Coinbase platform has all the features that someone just jumping into the cryptocurrency market could need.
Coinbase Pro, on the other hand, is worth the upgrade for traders familiar with advanced features and understand how margin, limit, and stop orders are imposed on their assets.
Is Coinbase and Coinbase Pro the Same Account?
The Coinbase platform is like a brokerage with a virtual Wallet, whereas the Coinbase Pro platform works as an exchange where traders buy and sell from each other.
Should I Move from Coinbase to Coinbase Pro?
Coinbase Pro and Coinbase offer user-friendly mobile apps, but Coinbase is designed for individuals new to investing in crypto.
It keeps options simple by limiting transaction types. If, as a trader, you are looking for more advanced investing options, Coinbase Pro is an excellent choice.
If you want to move from a buy-and-hold investment strategy to a higher-volume trading strategy, it is worthwhile to transfer from the Coinbase platform to the Coinbase Pro platform.
If you want more in-depth information about your cryptocurrency assets, transferring from the Coinbase platform to Coinbase Pro is worthwhile.
What is the Point of Coinbase Pro?
Coinbase Pro offers a secure and easy way to sell, buy and trade digital assets online instantly across various trading pairs.
With a Coinbase Pro account, you can view trading history, monitor open orders, track the market, manage multiple portfolios, and more.
Is Coinbase Pro Safer than Coinbase?
Both platforms provide excellent security and ease of use. Although Coinbase has higher trading fees, it’s built for people new to investing in crypto. Coinbase Pro platform offers more transaction types with lower costs, perfect for active traders.
How to Transfer from Coinbase to Coinbase Pro
Although your Coinbase Pro and Coinbase accounts are linked, they have their wallets. Transfers from Coinbase-to-Coinbase Pro are free.
To transfer funds from your Coinbase wallet to your Coinbase Pro wallet, follow these steps listed below:
- Go to the Coinbase Pro trading page.
- Click on Deposit below Wallet Balance (a pop-up window will appear).
- Click on the currency type (i.e., Bitcoin, ETC) you would like to add cash to Pro from Coinbase.
- Click on Coinbase Account.
- Enter the amount you wish to add cash to Pro from Coinbase. Please note that you will only be able to add funds that are “Available to deposit.”
- Click on Deposit at the bottom of the window.
Watch the video below to more about Coinbase Vs Coinbase Pro:
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