The main difference between coinbase pro and coinbase.Coinbase Pro vs. Coinbase: Whatâ€™s the Difference?.
Whether you’re a crypto newbie or a seasoned crypto investor, Coinbase is a name you’re probably familiar with. Founded in 2012, Coinbase has established itself as the default cryptocurrency exchange in the US, with trading volume exceeding $300 billion in the previous quarter alone.
But if you want to get started with a Coinbase account on your own. You must first decide which version of the trading platform you want to use. Coinbase Pro is a heavily modified version of the more simplified Coinbase interface. It offers advanced features commonly found on exchanges like Binance.
Coinbase Pro vs. Coinbase
This begs the question: do you need the Pro version? What exactly is the difference between Coinbase and Coinbase Pro? And most importantly – which one is better?
Coinbase vs. Coinbase Pro: An Overview
While there are many mobile apps for buying stocks, the same cannot be said for cryptocurrencies. At the time of its launch, Coinbase was mainly geared towards newcomers to the world of cryptocurrencies, and that quality still rings true today. While most bitcoin exchanges were a nightmare to use, Coinbase allowed users to buy BTC using their bank accounts and credit cards, or fiat currencies as they call it in crypto circles.
However, over time, the platform and its audience have matured in many ways. Coinbase facilitates the trading of cryptocurrencies in many USD trading pairs, opening up the market for hobbyists and serious investors alike. Thus, there was a need for a more advanced trading platform.
Coinbase Pro is an advanced crypto exchange. With lower fees and powerful trading options such as limit orders and stop orders, this is a brokerage designed for experienced traders who want to trade digital assets more often. For example, if you want to mine and sell cryptocurrency yourself, you need a higher margin to make a profit.
There is no de facto best Coinbase platform; Each cryptocurrency exchange has its own advantages and challenges. While the standard platform is user-friendly and allows people to buy cryptocurrency with a debit card, the Pro version of the Coinbase wallet is more powerful and charges fewer trading fees.
What Makes Coinbase So Good
For the uninitiated, Coinbase is one of the largest cryptocurrency exchanges in the world. Available as a website or mobile app for Android or iOS, the platform allows anyone to buy and sell cryptocurrencies using fiat currencies such as USD or EUR.
Not only is the app secured with two-factor authentication, but the mandatory FDIC insurance policy also protects your investment from fraud or theft. However, Coinbase does not provide users with access to their private keys, instead offering password-managed accounts.
Coinbase charges a percentage of each sale as a transaction fee, and credit card purchases are subject to an additional charge. Higher fees dissuade large investors from Coinbase, although this makes little difference to the average user. And if you’re worried about fees, there’s always Coinbase Pro.
The Advantages of Coinbase Pro
To properly trade cryptocurrency using the range of tools and features available in the stock market, you should switch to Coinbase Pro. Coinbase Pro, formerly known as GDAX, offers all the functionality you would expect from a crypto exchange, such as the ability to trade cryptocurrency pairs or track their portfolios.
The crypto platform also offers a more advanced user interface with advanced charting features for a better understanding of the market. The fees for Coinbase Pro are also much lower than the standard app, although there is still no fixed payment plan.
Instead, the fee structure follows the maker-taker module. If you add liquidity to the order book, you must pay a maker fee, but if you execute a quoted trade, you pay a taker fee. Low fees in both cases ensure that Coinbase Pro is one of the most competitive cryptocurrency brokers in the US and Europe.
You can even use the Coinbase Pro API to set up automated trading or portfolio tracking. Previously, Coinbase Pro also offered margin trading through USDC pairs, but this feature was later disabled due to regulatory issues.
Which Crypto Exchange Is the Best for You?
Both Coinbase and Coinbase Pro fulfill the core function of a cryptocurrency exchange: buy bitcoins and other cryptocurrencies like Ethereum (ETH) and Litecoin (LTC) using a variety of payment methods, from the usual options like debit card and credit card to things like this like bank transfer or ACH transfer. The differences lie in their features and user interface.
Coinbase is great for newcomers to the world of cryptocurrencies. You don’t have to settle for just blockchain database technology, but you can also start speculating in crypto as an asset. Its ease of use allows even complete beginners to start investing in cryptocurrencies using fiat currencies US dollars or pounds sterling instead of BTC trading pairs. Security features such as 2-step verification and FDIC insurance protect you from the scams seen in some lesser-known digital wallets.
Coinbase Pro, on the other hand, offers a great platform for serious crypto traders. Lower transaction fees make it profitable to buy and sell cryptocurrencies more often and in larger volumes. Advanced features such as limit orders and stop orders help the platform stand up to exchanges like Binance.
So, if you are new to cryptocurrencies and just want to get comfortable, choose Coinbase. But if you’re a cryptocurrency trading veteran and don’t want the exchange to hold your hand, Coinbase Pro is the platform for you.
Main difference between coinbase pro and coinbase
Main difference between coinbase pro and coinbase