What is the difference between Coinbase Pro and Coinbase?

Coinbase Pro and Coinbase are two trading platforms offered by the same company, but they are designed for different types of users. Coinbase is the beginner-friendly, simple app for buying, selling, and managing crypto, while Coinbase Pro (now rebranded as Coinbase Advanced Trade) is a more advanced platform with lower fees and professional charting tools.

If you are new to crypto, Coinbase is the easiest place to start because of its clean interface and straightforward buying process. However, if you want to trade actively or save on fees, Coinbase Pro offers a more cost-effective solution once you learn the ropes.

Is Coinbase Pro free to use?

Yes, Coinbase Pro is free to use in terms of account setup and deposits; you only pay trading fees when you actually buy or sell. The fee structure is tiered and based on your 30-day trading volume, with fees ranging from 0.50% per trade for small amounts down to 0.00% for very high-volume traders.

Additionally, Coinbase Pro does not charge extra for deposits (though bank transfers may incur fees from your bank), but withdrawals to external wallets may have network fees. This is a major advantage over Coinbase, which has a simpler but higher fee structure (usually a spread plus a flat fee).

How do fees compare between Coinbase and Coinbase Pro?

Coinbase Pro generally has significantly lower fees than Coinbase for most users. Coinbase charges a spread (about 0.5%) plus a flat fee (e.g., $0.99 to $2.99 for trades under $200), whereas Coinbase Pro uses a maker-taker fee schedule that starts at 0.50% and decreases with volume.

For example, a $100 trade on Coinbase might cost around $2.99 in fees, while the same trade on Coinbase Pro would cost $0.50. Over time, these savings add up, making Coinbase Pro more economical for frequent traders.

Can I use the same account for Coinbase and Coinbase Pro?

Yes, you use the same login credentials and account for both Coinbase and Coinbase Pro; they are connected. Any crypto you deposit or buy on one platform is automatically available on the other, and your funds are shared.

This integration is convenient because you can use Coinbase for quick purchases and then transfer funds to Coinbase Pro for more advanced trading without needing separate accounts or additional verification.

Which platform is better for beginners?

Coinbase is better for beginners because it offers a simple, user-friendly interface with a straightforward buy/sell process. It also provides educational resources and a mobile app that makes it easy to manage your portfolio on the go.

Coinbase Pro, on the other hand, has a steeper learning curve with its advanced charting tools, order types, and market data. While it's not impossible for beginners, it can be overwhelming. Many users start with Coinbase and gradually transition to Coinbase Pro as they gain experience.

What are the main advantages of Coinbase Pro over Coinbase?

The main advantages of Coinbase Pro are lower fees, advanced trading features, and more control over your trades. You can place limit orders, stop orders, and use advanced charting tools to analyze market trends.

Additionally, Coinbase Pro offers a more professional interface with real-time order books and price charts, which is essential for active traders. However, these features come with a tradeoff: the platform is more complex and may require some time to learn.

Is the mobile app for Coinbase Pro different from Coinbase?

Yes, Coinbase and Coinbase Pro have separate mobile apps, though the Coinbase Pro app has been discontinued and replaced by the Advanced Trade feature within the Coinbase app. As of 2024, Coinbase Pro's standalone app is no longer available, but all its features can be accessed via the Advanced Trade section in the main Coinbase app.

For beginners, the standard Coinbase app is easier to navigate, while the Advanced Trade section offers a more comprehensive trading experience. The apps share the same security features, including biometric login and two-factor authentication.

Will Coinbase Pro be shut down?

Coinbase Pro as a standalone platform was officially discontinued in 2023, but its features are fully integrated into Coinbase's Advanced Trade. This means you can still access all the advanced trading tools and lower fees, but within the main Coinbase platform.

The transition was seamless for most users, and you can now switch between the simple and advanced modes within the same app or website. So, while the name 'Coinbase Pro' is retired, its functionality lives on.

Final Thoughts

In summary, the choice between Coinbase Pro and Coinbase comes down to your trading experience and needs. If you are new to crypto and want a simple, straightforward way to buy and sell, Coinbase is the perfect starting point. Its user-friendly interface and educational resources make it easy to get started.

However, if you are an active trader or want to save on fees, the advanced features of Coinbase Pro (now Advanced Trade) are worth the learning curve. You can start with Coinbase and gradually explore the advanced tools as you become more comfortable with the market.

Remember, both platforms are secure and reliable, and you can use them together to get the best of both worlds. Happy trading!