Cryptocurrency Exchange

Latest Review On Coinbase Pro – Previously Known As GDAX

Overview

Legal NameCoinbase, Inc.
HeadquartersSan Francisco, CA the United States
CEOBrian Armstrong
Year Founded2012
Exchange TypeCentralized
Trading Fees Maker: 0.15% / Taker: 0.25%
Deposit MethodsWire transfer , Cryptocurrency
Supported CryptosBitcoin Cash ABC, Bitcoin, Cosmos Coin, Ethereum, Litecoin and 12 other.
FiatUS Dollars (USD-$) Euro (EUR-€) Pounds (GBP-£)
Customer ServiceEmail, Phone
Trading OptionsSpot Trading, Margin Trading

What is Coinbase Pro?

Coinbase Pro is highly liquid and tapped into one of the world’s biggest cryptocurrency networks. It offers advanced trading features, competitive fees, and many deposit options. Leverage of up to 500:1 is also offered to investors looking for the opportunity to make more money.

Coinbase Pro is an advanced cryptocurrency trading platform owned and operated by Coinbase, Inc. It was launched in the year 2015 as GDAX,  Based in San Francisco, Coinbase has over 20 million users that have traded over $150bn since the exchange opened its doors.

The interface on Coinbase Pro is highly intuitive, making it possible for traders to start using the platform right away.

Coinbase Pro Services

  1. Coinbase Prime: Institutional cryptocurrency investors are recommended to open a Coinbase Prime account, which is much like the Coinbase Pro but tailored for corporate professionals.
  2. Margin trading: From February 2020, Coinbase Pro offers up to 3x leverage for its USD-quoted books. The feature is not available in all states and countries yet.
  3.  Coinbase Earn: Coinbase lets you earn cryptocurrency for learning about it. At pixel time, you can get over USD 150 worth of crypto just by completing Coinbase’s courses.

Coinbase Pro Fees and Limits

Coinbase Pro fees are based on the maker-taker model, and maker traders do not have to pay any fee at all. Taker fees get to take advantage of volume-based discounts that can bring the fees down to an incredibly low 0.10 percent. Coinbase pro withdrawal fees are charged a 3.99% fee. 

Taker order fees start at 0.30 percent for volumes of up to $10 million. Between $10 million and $100 million, the fee drops to 0.20 percent. Those with trading volumes of over $100 million get the 0.10 percent fee. The trading volume is based on 30 days with volume in USD.

Coinbase Pro Supported Currencies

In total, there are 12 different coins that you can buy. These include the standard Coinbase offering of Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ethereum Classic.

Below are some of the additional coins on Coinbase Pro with full trading enabled:

  • Ripple (XRP)
  • Stellar Lumens (XLM)
  • Zcash (ZEC)  
  • Augur (REP)
  • 0x (ZRX)

If you have a Coinbase Pro account you’re able to trade not only for your home country’s currency but also for three of the world’s largest currencies:

  • US Dollars (USD-$)
  • Euro (EUR-€)
  • Pounds (GBP-£)

How to register on Coinbase Pro?

Step 1: Navigate to the Official Website and Select “Sign Up” Option

Step 2: The sign-up form will ask for your name, email, and a password. Enter the details and Click Submit.

Step 3: You will receive a confirmation link on your email. Click on the link received.

Step 4: To complete the verification process and use the platform, you must upload an official document such as passports, national ID cards, and driver’s licenses.

How to recover the Coinbase Pro password?

In certain cases, to recover the Coinbase Pro password, Go to the Password Reset Page. Enter your email address and click on the “Reset Password” option. This is will send an email to the address after which you can generate your new password. 

recover-the-Coinbase-Pro-password

How to deposit on Coinbase Pro?

Step 1: Go to the Coinbase Pro trading page. Go to “My Wallets” Section

Step 2: Select Deposit under Wallet Balance. Then a pop-up window will appear.

Step 3: Select the currency type (i.e. BTC, ETC) that you would like to deposit to Coinbase Pro

Step 4: Select Coinbase Account

Step 5: Enter the amount you would like to deposit to Pro from Coinbase. Please note that you will only be able to deposit funds that are “Available to Deposit”

Step 6: Select Deposit at the bottom of the window

How to withdraw Coinbase Pro?

Step 1: Go to the Coinbase Pro trading page. Go to the “My Wallets” section.

Step 2: Then Select Withdraw under Wallet Balance after which pop up window will appear.

Step 3: Select the currency type (i.e. BTC, ETC) that you would like to withdraw from Coinbase Pro

Step 4: Select Coinbase Account

Step 5: Enter the amount you would like to withdraw from Pro to Coinbase

Step 6: Select Withdraw at the bottom of the window

How to buy cryptocurrencies on Coinbase Pro?

Step 1: Navigate to the Official Website, Login into your Coinbase Pro account.

Step 2: Go to the Trade page by clicking on “View Exchange” from the top main navigation bar.

Step 3: Go to the dropdown menu right above where you logged in to select the cryptocurrency pair you wish to trade.

Step 4: Then, also on the left side of the screen but slightly lower, go to the order form.

Step 5: Then click the “Buy” option to complete the order.

How to sell cryptocurrencies on Coinbase Pro?

Step 1: Navigate to the Official Website, Login into your Coinbase Pro account.

Step 2: Then head to the Trade page by clicking on “View Exchange” from the top main navigation bar.

Step 3: On the left side of the screen, you will see the option to sign in or create an account. Begin by logging in.

Step 4: Now Go to the dropdown menu to select the cryptocurrency pair you wish to sell.

Step 5: Immediately below, you will see three tabs for your chosen order type: Market, Limit, or Stop. Select Accordingly.

Step 6: Fill in the amount you want to sell. Then click the “Sell” Option to complete the order.

Coinbase Pro mobile app

You can access the platform via the Coinbase Pro app for iOS and Android. Coinbase app lets you use all the same features as on the web-based Coinbase platform, except for the account verification option, which must be performed via the web browser.

Coinbase-Pro-mobile-app

Coinbase Pro- Pros and Cons

Pros

  • Seamless trading experience with the highly intuitive trading interface
  • High liquidity across their trading pairs
  • Secure platform with private and FDIC-backed insurance protection
  • Backed by a reputable company and fully regulated in the US

Cons

  • Extensive KYC procedures
  • Fewer altcoins to choose from in Australia
  • Not ideal for beginners
  • The trading fees for retail investors are higher than other major exchanges

Conclusion

Coinbase Pro is one of the best cryptocurrency trading platforms for professional traders, considering all the groundbreaking features it supports. It is a highly secure platform with a lot of verification procedures in place to safeguard user accounts.

The trading interface is intuitive with more detailed trading charts powered by a real-time data feed for a seamless experience. With high volume and liquidity, it is an excellent option for high volume traders because of its low transaction fees.

Thus, Coinbase is probably the most trustworthy exchange available at the moment which allows you to trade securely and efficiently.

Recent Updates

  • On May 14, 2020, OmiseGo (OMG) began trading on Coinbase Pro.
  • On June 23, 2020, Compound (COMP) began trading on Coinbase Pro.
  • On June 29, 2020, Coinbase Pro updated its Mobile app with new features added.
  • On July 16, 2020, Coinbase Pro announced to support additional European and UK order books.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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