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Coinbase vs. Coinbase Pro: Is the Upgrade Worth It?
Movus / Getty Images Coinbase and Coinbase Pro are well-known cryptocurrency exchanges in the decentralized finance universe. While Coinbase is aimed at beginners due to its simplicity and user-friendly interface, Coinbase Pro is ideal for advanced and active traders. In this Coinbase vs. Coinbase Pro comparison guide, GOBankingRates takes a look at the similarities and differences between the exchanges to determine if the latter is worth the upgrade. Here’s a look at some of the integral features of both platforms, such as usability, fees, security and supported transaction types, as well as the mobile app features of each. Coinbase vs. Coinbase Pro: A Quick GlanceIf you want a quick analysis of both exchanges, here is a table summarizing their notable features:
As you can see, there are a lot of similarities between the two, but with a more comprehensive interface, Pro is designed for advanced users and active traders — and it’s less expensive. Mobile AppsThe Coinbase mobile app is available for Android and iOS. It allows you to do the following:
The Coinbase Pro mobile app was launched in October 2019, and the company released the Android version in July 2020. It includes all the basic features of the Coinbase app, plus:
The Coinbase Pro app is available to customers in over a hundred countries worldwide. TransactionsBoth platforms allow transactions, such as receiving, sending, buying and selling. However, Coinbase Pro has some additional options, such as margin orders, limit orders and stop orders. User EducationBoth options come with a wide range of video tutorials, guides and how-to articles to help crypto enthusiasts learn about market trends and stay updated. AvailabilityCoinbase and Coinbase Pro are available in more than 100 countries. However, some transaction types are restricted in certain regions. Coinbase vs. Coinbase Pro: Supported CurrenciesBoth Coinbase and Coinbase Pro offer hundreds of cryptocurrencies for you to choose from. They also accept fiat currencies for purchases, like euros, U.S. dollars and British pounds. Some popular altcoins on the platforms include ethereum, litecoin, bitcoin cash, uniswap, aave and stellar lumens. The biggest difference between Coinbase and Coinbase Pro is the fee structure. Coinbase Pro is cheaper, and fees differ based on the amount of the transaction. Here is how it works:
The taker fee is 0.01% and maker fee is 0% for these stable pairs on Coinbase Pro:
If you want to avoid fees, it would be best to trade on Coinbase Pro. When trading on Coinbase, your fees can quickly add up. Whereas the maximum transaction fee on Coinbase Pro is 0.60%, Coinbase charges a flat fee of 1% on all cryptocurrency transactions, 2.49% for purchases made with the Coinbase Card and a 0.50% spread, which is included in the cryptocurrency price. Coinbase Pro Fiat Currency Deposit and Withdrawal FeesThe table below shows the fees on depositing and withdrawing fiat currency from your Coinbase Pro account:
Coinbase Pro does not charge any fee for signing up. You do not have to pay any fees for holding your funds either. You can keep funds in your account for as long as you want. Coinbase FeesCoinbase seems to have a fee for just about everything except ACH transfer. Here is how the platform’s fees compare to Coinbase Pro.
It is important to note that these fees could fluctuate, depending on the size of your order, market liquidity and volatility. The fees will be calculated when you place your order. Coinbase vs. Coinbase Pro: SecurityThe security on Coinbase and Coinbase Pro is the same. Deposits on both platforms are insured by the Federal Deposit Insurance Corporation’s for up to $250,000. Moreover, all accounts have biometric fingerprint logins and two-factor authentication. Coinbase also has an insurance policy that covers cash losses, excluding trading losses. Coinbase vs. Coinbase Pro: UsabilityBoth platforms are easy to use and very accessible. With either service, you can use either the web browser or mobile app to conduct transactions. Since Coinbase only has basic transactions like buying, selling and exchanging, it is easier to use for beginners. Meanwhile, Coinbase Pro has more features and information. It might seem daunting to beginners and could be overwhelming if the user is not educated on advanced crypto trading. However, it is easy to get the hang of both platforms after using them for a short while. Is Coinbase Pro Worth the Upgrade?Coinbase has all the features that someone just jumping into the crypto market could possibly need. Coinbase Pro, on the other hand, is worth the upgrade for users who are familiar with advanced features and understand how limit, stop and margin orders are imposed on their assets. There’s no fee to have a Coinbase Pro account. If you are a beginner, Coinbase Pro may be too intimidating for you. Similarly, Coinbase could be restrictive for users who want to explore every avenue of crypto trading. If you want to save money on fees and feel comfortable navigating an advanced interface, Coinbase Pro may be the right choice for you.
Daria Uhlig contributed to the reporting for this article. Information is accurate as of June 10, 2022, and is subject to change. Editorial Note: This content is not provided by Coinbase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Coinbase. Scott Jeffries is a seasoned technology professional based in Florida. He writes on the topics of business, technology, digital marketing and personal finance. After earning his bachelor’s in Management Information Systems with a minor in Business, Scott spent 15 years working in technology. He's helped startups to Fortune 100 companies bring software products to life. When he's not writing or building software, Scott can be found reading or spending time outside with his kids. Learn More Is it better to buy on Coinbase or Coinbase Pro?The biggest difference between the two platforms is their user interface. Coinbase offers a clean, simple way to buy and sell cryptocurrency with only a few options for placing orders. Coinbase Pro, on the other hand, gives users advanced charting and trading options, giving superior control for advanced traders.
Should I move from Coinbase to Coinbase Pro?If you want to move from a buy-and-hold investment strategy to a higher-volume trading strategy, it is worthwhile to transfer from Coinbase to Coinbase Pro. If you want more in-depth information about your crypto assets, it is also worthwhile to transfer from Coinbase to Coinbase Pro.
What is the downside to Coinbase Pro?Support can be slow: Because of the high volume of Coinbase Pro users, getting a hold of support can be difficult. Platform not designed for beginners: Coinbase Pro is designed for experienced traders. With advanced features and more complex trading options, a beginner may find it difficult to navigate.
What is the point of Coinbase Pro?It offers a secure and easy way to buy, sell, and trade digital assets online instantly across various trading pairs. With a Coinbase Pro account, you can track the market, view trading history, monitor open orders, manage multiple portfolios, and more. For advanced traders we provide a fully featured trading API.
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