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Cryptocurrency

Coinbase And Coinbase Pro: The Difference

The Take On TechThe Take On Tech—November 8, 20220
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If you are familiar with trading platforms, or are willing to learn how to use one, Coinbase Pro is an option that could help you save significant amounts on fees while also enjoying a far superior experience. The key difference between the two platforms is that Coinbase Pro is for power users looking for greater trading capabilities. If you are looking to see why the platforms premium services are most advantageous to investors, then look no further than its expanded trading options and enhanced charting features.

Coinbase Pro  

Another excellent feature offered by Coinbase Pro is to give users extended charts and trading options, which leads to more robust controls for high-level traders. Coinbase Pros unique features provide greater control of cryptocurrency trading.

Coinbase Pros enhanced tools, lower fee structure, and more sophisticated order types provide more sophisticated investors with more options for trying to turn a profit when trading cryptocurrencies. They utilize a “maker-taker” fee structure, giving users discounts based on how many trades they make on the platform. Both let you purchase cryptocurrencies with dollar amounts, while also allowing for fractional purchases of coins.

Coinbase

Coinbase and Pro both charge different fees for users on the platforms, with Coinbase being more expensive than both. Whereas, Coinbase is designed to cater to the new cryptocurrency users, however, charges higher fees. While you will be charged fees while using either of the companies platforms, you will not need to pay any fees to open an account. In addition to the flat fees it charges, Coinbase charges additional fees depending on what kind of account is used to make a transaction.

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Yes, Coinbase does let you know what fees you are going to be paying before the transaction, but they intentionally do not share their fees until after you have arrived. It charges a 4% fee if you are using PayPal or a credit card, and 1.5% if you are buying or selling any coins via this platform through bank transfer.

It caters towards first-time investors and does not provide many options to its investors on how to place orders and structure transactions. Coinbase targets retail consumers and crypto beginners, with Coinbase trying to make buying, selling, and holding cryptos as simple as possible. It is a platform for beginners, offering an easy-to-use interface to buying and selling crypto.

History

Coinbase was founded in June of 2012, offering an online cryptocurrency exchange to users that can buy, sell, send, or receive up to 56 different currencies, like bitcoin, Ethereum, and others. In terms of transactions, Coinbase offers users on Coinbase the ability to buy, sell, and trade crypto tokens, with additional services including sending, receiving, depositing, and withdrawing.

As one of the most popular crypto trading platforms, you will find the majority of the tokens available on the site. Coinbase is an easy crypto trading platform for beginners to buy and sell cryptos including bitcoin, Ethereum, Ripple, Dogecoin, etc. It has more than 89 million users and $278 billion worth of assets. Coinbase and Coinbase Pro are crypto exchange platforms that allow you to easily buy, sell, and hold over 50 coins, including Bitcoin, Cardano, Binance Coin, Ethereum, Litecoin, and several others. It makes trading cryptocurrency simple, as you can buy coins and tokens fast and easy using a debit card, bank account, or PayPal account.

The Difference

While you can exchange cryptos with one another, Coinbase charges fees for doing so on their Classic platform. Whereas Coinbase Pro users were able to exchange digital assets for one another, also called cryptocurrency-to-crypto pairs, without a fee found in the core service.

Coinbase has also been rolling out Advanced Trading more widely, allowing all users to make use of crypto-to-crypto pairs. There are over 80 trading pairs available in Pro, and it says that all pairs offered in Pro will be available in Advanced Trading.

The company itself provides features that active traders likely will want to have access to, including stop-and-limit orders instead of only market orders. Users of Pro and features of Pro pay a fee as low as 0.6% for each transaction, which is based on the Maker-Taker model, which also provides discounts to higher-volume traders. Instead of requiring users to trade in the marketplace, Coinbase sells bitcoin, litecoin, and ethereum to sell directly to them at a preset price, which is usually very close to the actual market price trading on Pro.

Premium Service

The platforms Premium Service is the Premium Service, which offers enhanced tools for experienced investors, such as expanded trade options, a wider selection of cryptos, and the Inhale pricing model, which is more convenient for higher-volume trades. It offers a better set of tools to help investors manage cryptocurrency volatility, and its pricing model is more cost-effective if you are planning on running large volumes of transactions.

You will get sensible, transparent pricing, along with other features that make the more complex trading platform worth the small amount of additional time required to learn. With Coinbases easy-to-use UI, straightforward charts, and built-in user education, you will be an expert at cryptocurrency in no time. While Coinbase is a highly intuitive platform to use, Pro may feel intimidating for first-time investors when they are logging in, since it’s mainly for professional traders.

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