Coinbase Pro Review (2022) | Coinbase Vs Coinbase Pro Exchange Review |

Coinbase Pro Review

Coinbase Pro ( once known as GDAX ) is an advance cryptocurrency trading platform owned and operated by popular cryptocurrency exchange Coinbase. Launched as a separate of Coinbase substitution, it benefits from many of the lapp advantages as Coinbase itself, including ease of practice, solid security system, and bang-up fluidity. It is designed for more have retail and master traders and allows a range of advanced, high-volume trades. Its deal fees are not the lowest out there, but Coinbase Pro does n’t charge anything for cryptocurrency deposits or withdrawals. All of this makes a very estimable change for both retail and institutional traders, and the latter can open a give corporate account at Coinbase Prime .

General info

Web address: Coinbase Pro
Support contact: Link
Main location: San Francisco, US
Daily volume: 85941.0 BTC
Mobile app available: Yes
Is decentralized: No
Parent Company: Coinbase, Inc.
Transfer types:
Bank Transfer,
Crypto Transfer,
Supported fiat: USD, EUR, GBP
Supported pairs: 57
Has token: USDC
Fees: High (Compare rates)

Founded : 2015
Web address : pro.coinbase.com
Support contact : +1 ( 855 ) 577–1727
Parent company : Coinbase, Inc.
ship’s company address : 548 Market Street # 23008, San Francisco, CA 94104, USA

Pros & Cons

  • Ease of use No crypto withdrawal fees Strong security and regulatory compliance Advanced trading features
  • Extensive KYC procedures Support can be slow Regular Coinbase is better for beginners

Screenshots

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Coinbase Pro Review Summary

Coinbase Pro cryptocurrency exchange is one of the acme platforms if you want to buy and sell bitcoin or plainly trade cryptocurrencies. The platform is a branch of cryptocurrency commute Coinbase and is designed for more experience master and retail traders. The key features of the platform include :

  • Access to 29 cryptocurrencies. Cryptocurrency traders can buy and sell bitcoin on Coinbase Pro. Also, you can trade altcoins like bitcoin cash, litecoin, and ethereum, as well as other new coins listed on Coinbase Pro in a seamless and secure way.
  • Smooth transition between Coinbase and Coinbase Pro. If you already have a Coinbase account, you can use the same login credentials on Coinbase Pro and transfer your funds between Coinbase and Coinbase Pro wallets instantly and for free.
  • Coinbase Prime. Institutional cryptocurrency investors are recommended to open a Coinbase Prime account, which is much like the Coinbase Pro but tailored for corporate professionals.
  • Secure exchange. Coinbase is well-known for its security measures. It employs highest-level security standards and has never been hacked before. Besides, Coinbase offers regulatory security, too, since all its deposits are FDIC insured (up to USD 250,000 for U.S residents). The exchange also runs Coinbase Custody service for institutional clients seeking the highest level cold storage security for their crypto assets.
  • Excellent liquidity. Coinbase Pro has one of the largest cryptocurrency trading volumes in terms of USD, which makes it a great option for selling cryptocurrencies.
  • Margin trading. From February 2020, Coinbase Pro offers up to 3x leverage for its USD-quoted books. The feature is not available in all states and countries just yet.
  • Coinbase Earn. Coinbase lets you earn cryptocurrency for learning about it. At pixel time, you can get over USD 150 worth of crypto just by completing Coinbase’s courses.

Coinbase Earn informant : Coinbase.com Unsurprisingly, Coinbase Pro’s most big features are its security, dependability, handiness, and tauten regulative foot. In contrast with other exchanges, it has a specify number of crypto assets, but it is due to the fact that the projects listed on it must undergo a vigorous vet process .Coinbase Pro Review informant : Coinbase Pro web site. All in all, Coinbase Pro is an excellent trade platform for more advanced retail and institutional investors .

Exchange History and Background

Launched in January 2015, Coinbase Pro is a offspring of San Francisco-based Coinbase but designed for professional retail and institutional traders. Coinbase itself was founded in July 2011 by Brian Armstrong and Fred Ehrsam. The company launched its services in October 2012 and quickly became one of the top bitcoin trade platforms in the United States. In its first years of being, Coinbase Pro was known as GDAX and had a separate office in Chicago. however, in May of 2018, Coinbase announced it was eliminating the GDAX brand, office, and will transfer all of its clients to Coinbase Pro .Coinbase Pro review source : Coinbase.com ever since Coinbase Pro has become one of the largest U.S. exchanges in terms of both popularity and trading volume. In 2010, it was even recognized as one of a few exchanges that report authentic trade volume by Bitwise. In October 2019, Coinbase Pro announced a new tip social organization, which made its services more expensive for minor trade volume accounts and lowered them for large volume trades. The changes prompted a curl of criticism on-line, though the new fee structure remains in effect. Earlier in 2019, Coinbase received lots of heat for acquiring the ill-famed “Hacking Team” and other strategic decisions. During the crypto boom in December 2017, its Coinbase app became the number one most download app on Apple’s App Store and remained one of the most popular mobile trade apps to this day .

Regulation

precisely like Coinbase, Coinbase Pro is fully licensed and regulated in the U.S. and other support countries. Due to the nature of its business and current regulative environment, Coinbase is required to comply with The Bank Secrecy Act, The USA Patriot Act, and other local anesthetic money transmission laws. Besides, Coinbase is registered as a Money Services Business with FinCEN. As a leave, Coinbase Pro users must pass stern Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. These typically require you to submit the trace documents :

  • State ID, passport or driver license.
  • Complete a set of verification questions.
  • Proof of residential address – a utility bill, bank statement, or a credit card statement (no older than three months).
  • Photo of your face.

According to Coinbase, the verification summons takes up to 3 minutes, but it is likely to take longer at interfering times. besides, note that verification is not available using Coinbase Pro mobile app. As common, the summons requires more documents and takes longer for corporate accounts .

Coinbase Pro Supported Countries

today, Coinbase Pro is available in more than 70 countries global. Mind that Coinbase Pro users can only trade pairs permitted by local regulators in your legal power. For example, Australian, Canadian, or singaporean versions of the commute may offer slightly different features and trade pairs than their european or american english counterparts. Fiat-to-crypto and crypto-to-crypto trading supported countries:

  • The United States (excluding Hawaii and with some exceptions in the state of New York).
  • Europe: The United Kingdom, Andorra, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, San Marino, Slovakia, Spain, Sweden, and Switzerland.

Crypto-to-crypto trading supported countries:

  • Asia: Bahrain, Hong Kong, India, Indonesia, Jordan, Kazakhstan, Kuwait, Mongolia, Oman, Philippines, Singapore, South Korea, Taiwan, Uzbekistan.
  • Africa: Ghana, Kenya, South Africa, Tunisia, Uganda.
  • Europe: Serbia, Turkey.
  • North America: Canada.
  • South America: Argentina, Brazil, Chile, Colombia, Ecuador, Peru, Uruguay.
  • Central America: British Virgin Islands, Cayman Islands, Costa Rica, Dominican Republic, Guatemala, Jamaica, Mexico, and Panama.
  • Australia and New Zealand.

The latest list of Coinbase Pro supported countries can be found here .

Coinbase vs. Coinbase Pro

Bitcoin and cryptocurrencies can be an overwhelm experience for those looking to enter the distance. Coinbase was created as an switch over for those who merely want to buy or sell bitcoin. Hence, it is an excellent locate to refer to when you talk to newbies matter to in entering the quad. The chopine makes it easy to register and buy cryptocurrency within minutes after completing account confirmation. You can read our broad review of Coinbase here. interim, Coinbase Pro is designed for more experience retail and professional investors. It offers a broad assortment of cryptocurrencies, more types of trade orders, lower fees, and a more advanced interface. And while it’s a great chopine for trading, it may be besides complicated for complete beginners in the space .Coinbase vs Coinbase Pro supported cryptocurrencies source : Coinbase.com basically, opening an account on Coinbase besides means opening an explanation on Coinbase Pro. Both exchanges rely on the lapp infrastructure, security mechanisms, and order record, which makes it comfortable to transition from the former to the latter and vice versa. besides, the transfers between both exchanges are free of charge. however, public toilet comes at a cost, then Coinbase fees are reasonably higher. In sum, Coinbase Pro is better suited for traders and investors looking for a place to buy and sell larger quantities of bitcoin and other 28 cryptocurrencies, while Coinbase is designed for bare crypto operations .

Coinbase Pro Fees

Fees on Coinbase Pro are sort of a mix bag. On one pass, the platform does not charge any fees for crypto asset deposits and withdrawals. On the other hand, its trade fees for low-volume traders are higher than its competitors. With bitcoin, those who buy or sell cryptocurrency from an existing order on the record ( i, “takers” ) pay a 0.5% fee. The same goes for those who are placing a fresh arrange in the order koran ( aka “makers ). however, the fee does go lower by more than half if you exchange more than USD 100,000 per month.

User 30-Day Volume Taker Fee Maker Fee
< USD 10,000 0.50% 0.50%
USD 10,000 – 50,000 0.35% 0.35%
USD 50,000 – 100,000 0.25% 0.15%
USD 100,000 – 1 million 0.20% 0.10%
USD 1 million – 10 million 0.18% 0.08%
USD 10 million – 50 million 0.15% 0.05%
USD 50 million – 100 million 0.10% 0.00%
USD 100 million – 300 million 0.07% 0.00%
USD 300 million – 500 million 0.06% 0.00%
USD 500 million – 1 billion 0.05% 0.00%
> USD 1 billion 0.04% 0.00%

As you can see, trading on Coinbase Pro is not the cheapest option to sell or buy bitcoin for low volume investors. By comparison, users who trade less than USD 50,00 per calendar month pay only 0.16 % for market-making orders and 0.26 % for marketplace taking transactions at Kraken. The fees are even lower at Bittrex, where both low volume makers and takers pay a 0.2 % fee per trade. trading fees on Coinbase Pro remain proportionately higher than at competing exchanges for higher bulk traders unless you trade more than USD 100 million per calendar month.

As for deposits and withdrawals, these are both entirely exempt if the exploiter is transferring cryptocurrency or making an ACH depository or withdrawal. otherwise, Coinbase Pro charges its users the following flat fees :

Transfer type Deposit Fee Withdrawal Fee
Cryptocurrencies Free Free
ACH Free Free
Wire (USD) USD 10 USD 25
SEPA (EUR) EUR 0.15 EUR 0.15
Swift (GBP) Free GBP 5
Bank card (via Coinbase) 3.99%

unfortunately, Coinbase Pro does not have an integrated instantaneous buy/sell option that would allow you to deposit funds directly into your Coinbase cryptocurrency wallet using a credit or debit card. There is a workaround, though, as you can buy bitcoin or other cryptocurrencies with a citation or debit card via Coinbase and transfer it directly to Coinbase Pro for free. For every instantaneous crypto purchase via bank card on Coinbase charges you 3.99% per transaction. As such, Coinbase Pro has the best fees in the industry when it comes to deposits and withdrawals. last but not least, Coinbase Pro recently introduced its margin trading feature. As for immediately, it is available in a limited number of jurisdictions and for approve accounts entirely. The exchange charges an annualized interest rate of 8% for both open and filled orders. It is calculated hourly and is charged daily for all hours in which you used leverage. All in all, Coinbase Pro is pricier when it comes to trade cryptocurrency, but charges slenderly cheaper fees when it comes to crypto and fiat deposits and withdrawals. Trade On Coinbase Pro

Coinbase Pro Security

As stated above, security is one of Coinbase Pro’s strong points. entirely 2 % of its customers’ cryptocurrency funds are held on-line, and these are insured in the case of loss. similarly, all deposits in US dollars are covered by FDIC indemnity up to $ 250,000, while deposits in euros are distillery legally held in custodial accounts belonging to the customer, meaning that Coinbase Pro or its creditors couldn’t seize them in the improbable consequence of the exchange’s crack up. interim, the switch over adopts a assortment of measures to ensure that its system remains secure :

  • Two-factor authentication is used on all accounts
  • All website traffic is encrypted using the SSL (secure sockets layer) cryptographic protocol
  • All wallets and wallet keys are encrypted using AES-256 encryption
  • 98% of all crypto assets are held in secure cold storage.
  • All employees have to undergo a security check and must encrypt their hard drives

possibly most reassuringly of all, Coinbase Pro has a registered BitLicense with the New York Department of Financial Services. This requires it to submit annual fiscal audits, which demonstrate that the exchange has sufficient liquid and remains thoroughly managed. Besides, the chopine is running Coinbase Custody, a cryptocurrency wallet and digital asset security service for corporations, which is besides titled as “the world’s most believe cold storage.” Coinbase’s security is well-recognized by early diligence players, excessively. For exemplar, CryptoCompare’s Exchange Benchmark rates it’s security the best potential 19.9 out of soap 20 points, which is the highest rat in the integral diligence .Coinbase PRO review reservoir : Coinbase.com As a resultant role, Coinbase Pro has never suffered any kind of hack before. The exchange employs some of the best security practices in the diligence, and you can get a goodnight’s sleep keeping your cryptocurrency on Coinbase ( even though that’s not a good crypto security commit ) .

Coinbase Pro Design and Usability

Coinbase Pro may be the exchange for professional traders, yet it’s one of the easiest to use and navigate .Coinbase Pro trading beginning : Coinbase.com presently, you can use Coinbase Pro to : In terms of design, all the trade info a exploiter needs is laid out on its splashboard, which is flawlessly designed, reactive, and easily silent. Making trades is quick and painless, with the deal sidebar on the splashboard letting users choose and execute their desire trade with the click of a copulate of buttons. Besides, you can access the platform via Coinbase Pro mobile app for io and Android. Coinbase app lets you use all the like features as on the web-based Coinbase platform, except for the report confirmation option, which must be performed via the world wide web browser .Coinbase Pro Review mobile app margin trading margin trade on Coinbase Pro mobile app. source : Coinbase.com When it comes to account limits, you can withdraw up to USD 10,000 or its equivalent daily. corporate accounts can take out up to USD 50,000 per day. Besides, it is possible to request a higher coitus interruptus limit by contacting the exchanges subscribe, though there is no guarantee that your request will be approved .

Coinbase Prime

institutional investors can open a Coinbase Prime report, which was specifically made for them. It works on the like Coinbase Pro platform but includes institutional trading capabilities like margin finance, high-touch execution OTC (over the counter) trading, execution algorithms, access via professional third-party platforms such as TT, dedicated institutional coverage, and much more .Coinbase Prime reservoir : Coinbase.com

Customer Support

possibly the alone downside to Coinbase Pro’s serviceability is its customer documentation, which can take time to respond to your inquiry. even so, there are multiple channels for you to reach out for avail :

  1. Extensive knowledge center filled with tutorials, educational information, and other handy articles.
  2. Coinbase Pro live support chat.
  3. Contact us form at the help center.
  4. Mobile phone support in case your account was compromised.

Coinbase Pro support mobile phone source : Coinbase.com The platform’s subscribe pages are informative enough, but the patronize team can sometimes take several days to respond to requests, particularly during busy periods. That said, this is a common complaint with popular cryptocurrency exchanges, and Coinbase Pro is surely not worse than other platforms that have a repute for being dull and unresponsive in helping their customers, such as HitBTC or LocalBitcoins .

Deposit and Withdrawal Methods

Depositing funds into a Coinbase Pro account is broadly square. Euros can be deposited directly using a SEPA bank transmit, while united states dollars can be deposited using a standard bank cable or via an ACH deposit. Great Britain Pounds ( GBP ) are added via SWIFT transfer. The deposit and withdrawal fees for decree currencies are specified in the fees section above. Cryptocurrency deposits and withdrawals on the Coinbase Pro chopine are free of charge. Users looking to sediment or buy digital currency with bank cards can make use of Coinbase Pro’s linkage with Coinbase. It means that Coinbase users with a affirm account can, in fact, deposit any decree currencies ( or cryptocurrencies ) they have to Coinbase Pro without paying any fee. The lapp is true of withdrawals, although in this case, these are limited by Coinbase Pro’s daily withdrawal specify, which begins at $ 10,000. As for withdrawals of decree currencies into bank accounts, these work in the lapp way as deposits. Euros can once again be withdrawn using a SEPA transfer, which takes one to two days to complete. US dollars can be withdrawn using an ACH transportation or a depository financial institution telegram, while withdrawals in british pounds are made via SWIFT colony. Open A free account

Conclusion

Coinbase Pro exchange is geared more towards professional traders than its more accessible stablemate Coinbase. It allows for a wider kind of orderliness types, ranging from the necessity restrict and catch orders to promote orders such as adept ‘til canceled. besides, it is stepping into margin trading, and compared to early progress exchanges lets you trade a decent roll of cryptocurrencies, including top coins like bitcoin btc, bitcoin cash litecoin and ethereum. Most importantly, it does give users the ability to trade their US dollars, euros, and pounds immediately for cryptocurrencies .Coinbase Pro review markets beginning : Coinbase.com

possibly unsurprisingly for an exchange that’s paired with Coinbase, its security is by and large very solid, as 98 % of customer digital currency funds are held offline. At the same clock time, 2 % held on-line are insured, meaning that any customers who lost money as the result of a hack would receive full compensation. Added to this, the coupling with Coinbase provides an add degree of convenience and simplicity, in that users who’ve already registered and verified an explanation with Coinbase will not need to do the same with Coinbase Pro. Putting all of these things into retainer, it becomes clear why Coinbase Pro is one of the leadership cryptocurrency exchanges in the industry .

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