Crypto Currency Exchange

Latest Review On Coinbase Pro – Previously Known As GDAX

Ok, here you are! Today we will learn the latest updates and review about one of the most trusted crypto exchanges in the world. Do you know which exchange has separate platforms for both novice and professional traders? No! Its Coinbase, where Coinbase is for beginners and Coinbase Pro previously known as GDAX is for professional and individual traders.

As the name says, Coinbase Pro is another platform of Coinbase filled with advanced features that professional traders will like for its detailed charts and graphs and trading options.

So let us look in depth for more info in this Coinbase Pro Review

Coinbase Pro Review

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About-Coinbase Pro Exchange

Coinbase Pro is a US-based exchange designed especially for advanced traders. It features real-time order books, trade histories, and advanced charting tools. The most popular digital currencies available for trading on this platform are Bitcoin, Ethereum, etc. These are traded against USD, EUR, and GBP.

Features of Coinbase Pro Exchange

The company is in association with many investors such as New York Stock Exchange, Andreessen Horowitz, Union Square Ventures and many more. The trading platform of Coinbase Pro has real-time order books and charting tools for market analysis. The user can also track previous transactions through trade history.

Coinbase Pro has been a prominent exchange on several media sources such as journals and newspapers. The platform has been covered in The New York Times, The Wall Street Journal, Tech Crunch, and Fortune.

There is also a feature of margin trading on this cryptocurrency exchange. There are lenders who would lend their money to the traders. The traders would share a fixed percentage of interest with the lender. The trader, on the other hand, would trade the currencies at a higher price and earn profits.

The exchange undergoes financial audits regularly for financial securities. FDIC insures the money presently on the online servers. The maximum insurance covered for every customer is $250,000. The currency that is stored offline is in cold storage. Approximately 98% of the money is stored offline. This keeps the money safe against cybercrimes and also eliminates the risk of volatility.

As far as the transaction fee is concerned, there is no maker fee applicable but taker fee is imposed. A volume-based discount is available on the taker fee. Thus, the exchange has some most interesting features for both trading and exchange.

How To Trade On Coinbase Pro Exchange?

In order to register a new account, log on to https://pro.coinbase.com/. The user can then click on “Create account”. Enter the details such as first and last name, email ID, and create a password. The password should be at least 8 characters long. Click on the tab “create account”. A verification link goes to the registered email ID. The user can click on the link to activate the Coinbase Pro account.

account register coinbase

There are certain verification levels that have to be completed before a user can begin with trading. Firstly a user will have to register the contact number. An SMS code is then sent to the registered number for verification. The next level is the account type. The user can select if the account is going to be individual or for an institution. For an individual account, details such as name, date of birth, address, the source of funds, etc.

For an institution account, there is Coinbase Prime the user will have to enter the details such as Business name and type, Business category and Tax ID, website, address, and phone number. The next level is to upload a copy of Identity proof and signature.

Buy/Sell At Coinbase Pro

In order to buy or sell the cryptocurrency, the user can select the type of order and amount along with the amount. Then click on buy and sell to complete the process.

For any trading exchange, a user needs insight on the market. Thus, Coinbase Pro has all the tools available on its trading platform that is essential for trading. The user can browse the order book and the real-time pricing of different trading pairs. The price chart could be viewed in different timelines such as minutes, hours or days. There is also information on 24-hour trading volume.

Coinbase trade platform

Coinbase Pro Fees And Security

Coinbase Pro Fees

This March 2019, Coinbase Pro updated its trading fees structure. Earlier Taker fee was between 0.05% and 0.25%. Maker paid a fee between 0% and 0.15%.
With the new Coinbase Pro trading fees, the exchange has hiked bottom tiered trader fees while higher-value clients pay less.
Fees structure

Coinbase Pro Security

To add extra security to user funds, the platform offers insurance protection. All digital assets stored online are fully insured. 98 percent of customers’ digital currency is kept in cold storage. Additionally, all USD balances in accounts have coverage from FDIC insurance, with maximum coverage of $250,000 per customer. Also, two-factor authentication is used.
where the website is encrypted using the SSL cryptographic protocol.

Coinbase Pro API

Coinbase Pro also offers powerful API to the developers. The developers could use this API to incorporate the features in their own application. API’s are always useful. You can trade using API’s from your own website/blog without accessing the main exchange platform. Here,

The exchange has 2 categories of API –

  • Trading – trading API allows you to to buy / sell cryptocurrencies via your website / blog. This API requires authorisation to access Coinbase account.
  • Feed – this API provides market data and is Public.

Conclusion

The popular GDAX exchange is now known as Coinbase Pro, the advanced trader’s version of the top-ranked cryptocurrency exchange. The platform is easy to use and offers all the charts and tools that expert traders need. Fees are competitive, compared to other top exchanges.

To summarise this Coinbase Pro review, the exchange is one of the most trust-worthy exchanges available at the moment with top security features. Also, it protects customer funds that are stored online while keeping nearly all funds in safe cold storage. So compare and check the exchange which provides you the best service.

Share your thoughts on this Coinbase Pro review and let us know! Like and comment on our Facebook and Twitter page.

Coinbase Pro

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Latest Review On Coinbase Pro - Previously Known As GDAX
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Latest Review On Coinbase Pro - Previously Known As GDAX
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The popular GDAX exchange is now known as Coinbase Pro, the advanced trader's version of the top-ranked Coinbase cryptocurrency exchange.
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Coinpedia.org
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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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