Cryptocurrency is a strategic investment opportunity. With the right tools, like Coinbase Pro, investors and traders who are serious about advanced trading options with the convenience of powerful tools and user-friendly interfaces can make bold moves and turn a profit.
Coinbase Pro is a professional trading platform that is best suited for advanced investors. The suite of tools offered helps professionals navigate the volatile cryptocurrency market with options like expanded trading options, a cost-effective pricing model suited for high-volume trading, and an extensive list of cryptocurrencies.
Coinbase Pro Features
Once known as The Global Digital Asset Exchange (GDAX), Coinbase Pro is one of the most popular and largest cryptocurrency exchange platforms in the world. It is a platform meant for experienced and high-volume traders rather than the beginner or hobby trader. It is ideal for individuals, not necessarily institutions.
Coinbase Pro is one of the safest exchanges for high-volume trades and liquidity with its advanced features and security. Its user-friendly and convenient interface makes trader easier and more intuitive. It offers all the tools and charts that professionals traders want.
Cryptocurrencies Offered
Cryptocurrencies that Coinbase Pro offers are limited by country. Some countries can access crypto/fiat. Other countries have access to crypto/crypto trading pairs. Users can only trade in pairs available in their country that comply with local regulators.
Crypto-to-Crypto Trading
- 60 crypto-to-crypto trading pairs
- 40 currencies that can trade for bitcoin
- 7 currencies that can trade with Ethereum
- 11 currencies that can trade with USDC
- Stablecoin that is equivalent to US$1
Crypto Wallet
The online, built-in crypto wallet secures private keys with the ability to control API keys. The digital wallet uses two-factor authentication so that you know that your currency and keys are safe.
It is a mixture of hot and cold storage so that your currency stays safer. A hot wallet is connected to the internet and is more susceptible to hacks, while a cold wallet is not considered the safest place to store crypto. As Coinbase Pro is an exchange, not a bank or a wallet, it is not safe to leave large amounts of crypto there for extended periods.
The Coinbase Pro wallet is compatible with external wallets so that you can store private keys and currencies elsewhere if you choose. Investment into a hardware wallet is a simple and effective security upgrade.
Security
- a two-step verification
- biometric fingerprint logins
- insurance in the event a breach
- FDIC insured USD balances
- AES 256 encryption for digital wallets
Insurance
Coinbase insures all digital currency it holds online. Only 2% of customer funds are kept online, with the rest is stored in offline storage. Currency in storage is protected from online breaches, and online storage is breached, Coinbase covers any customer funds lost due to the attack. The insurance only covers losses directly related to Coinbase cybersecurity or employee theft and does not include individual breaches on accounts.
Mobile App
Coinbase has highly rated apps available for iOS and Android. Users can access their account on the go and see real-time metrics and statistics, track active orders, trade history, past, and active orders, check on fees and limits, buy and sell, and deposit or withdraw cryptocurrency directly from a mobile device.
User Education
Included with an account, Coinbase has an extensive knowledge database with video tutorials, articles, and guides for learning about trading and market updates. Their help section basics of cryptocurrency trading to specific information about using Coinbase Pro. Also offered is a customer service option if their database does not contain an answer to your problem.
Advanced Charting
Coinbase Pro has charts and overlay, which makes it easier to track metrics that gauge the trajectory of coins. These tools will help track moving averages
Limits and Liquidity
Deposits to a Coinbase Pro are unlimited, and there is no restriction on USD deposits via wire transfer. Traders can actively work with whatever currency they have available to them without worrying about balance limits and numbers of trades.
Users can withdraw up to $10,000 per day from an individual account, while institutional accounts can withdraw up to $50,000 per day. Higher withdrawal amounts are available upon request and approval.
>>MORE: Docusign Pricing: What Plan Is Right For You? (Ultimate Reference)
Coinbase Pro Fee Structure
Maker and Taker
Coinbase Pro operates its fees based on a Taker and Maker structure.
When an order is placed and is filled immediately at market price, the transaction is called a taker as you are taking liquidity from the market. The Taker fee structure is between 0.04% and 0.50%. As a Taker, you have matched an order that has already been listed.
If an order that is placed does not match an existing order, the order is put in an order book. When a customer places an order that matches, that transaction is called a Maker. The Maker fee structure is between 0.00% and 0.50%. As a Maker, you are making the offers that add liquidity to the market, which means you set a buying price.
A partially matched order is divided into Taker and Maker fees. The portion that is matched immediately pay the taker fee. And the remaining portion of the order is considered a maker order when it is matched.
Calculated Volume
The Maker and Taker fees are calculated based on total USD (United State Dollar) trading volume over a 30-day period. The volume of trade dictates which fee tier transactions fall under.
Not included in the trading volume is Stable Pairs. All transactions are converted or quoted to USD based on the most recent price.
| 30-Day Volume (USD) | Taker Fee | Maker Fee |
| Up to $10K | 0.50% | 0.50% |
| $10K – $50K | 0.35% | 0.35% |
| $50K – $100K | 0.25% | 0.15% |
| $100K – $1M | 0.20% | 0.10% |
| $1M – $20M | 0.18% | 0.08% |
| $20M – $100M | 0.15% | 0.05% |
Coinbase Pro Competitors
When choosing an online cryptocurrency trading platform there are a number of things to keep in mind. Security and reputation should be high on your list of considerations as crypto exchanges directly hold customer accounts. Hacks have become commonplace, and security measures need to be prepared for such attacks. Check for recent hacks and the security of those platforms.
Also important to consider is the currencies and countries that are supported on the platform. Each exchange has their own sets of currencies they offer. Make sure they offer the sets you want to work with.
| Coinbase Pro | Binance | Kraken | Robinhood | Bitstamp | |
| Fees- Taker | 0.5% | 0.1% | 0.26% | Free | 0.5% |
| Fees-Maker | 0.5% | 0.1% | 0.16% | Free | 0.5% |
| Countries | 30 | 180 | 176 | 2 | 50 |
| Currencies | 66 | 500 | 56 | 51 | 28 |
>>MORE: Which Plan Is the Best for You in Semrush Pricing? (Detailed Cost Guide)
Frequently Asked Questions
Are Coinbase Pro and Coinbase the same thing?
Coinbase has two platforms. Coinbase is a simple consumer platform with beginners and enthusiasts in mind, while Coinbase Pro is a professional trading platform. The similar names have cause confusion.
User platforms are very similar as is the user experience as well as many of the features and options.
The main difference between the two platforms is price. The Pro platform is cheaper and has less fess than the standard Coinbase platform. Coinbase has limits on payment method and region, while Coinbase Pro has unlimited trading amounts.
If I have a Coinbase account, can I upgrade to a Coinbase Pro account?
It is a quick and simple upgrade to convert a Coinbase account to a Coinbase Pro account.
Is Coinbase Pro free?
There are no fees associated with opening a Coinbase Pro account. There is also no fee for funds held in an account, and assets can be held as long as desired.
How do taxes work with Coinbase Pro?
For United States users, Coinbase Pro will issue the IRS form 1099-MISC, which covers all rewards and/or fees earned through the platform. Non-US customers will not receive any tax forms from Coinbase and are responsible for reporting their own taxes by using their transaction history. Any sold or converted crypto are subject to taxes, and you are required to report gains and losses to your tax agency.
Has Coinbase Pro ever been hacked?
Coinbase maintains that its platform is secure, functional, and efficient. Their security software is continuously checked and improved.
Thefts are generally related to attacks on individual accounts rather than from a hack on Coinbase security. These hacks are usually the result of improper security or negligence on the part of the individual account holder. Coinbase Pro does not insure thefts from individual accounts.
While Coinbase Pro prides itself on never having been hacked, about 0.004% of users have experienced account takeover in the last year. This was done through breached devices which allowed access to Coinbase accounts. For this reason, it is imperative to utilize strong passwords and 2-step verification.