Diff Between Coinbase And Coinbase Pro

Coinbase vs. Coinbase Pro: Is the Upgrade Worth Information technology?

Bitcoins placed beside Coinbase App on iPhone, illustrating one of the largest Bitcoin providers, photographed in Cologne, Germany, 14th of April 2021.

Movus / Getty Images

Coinbase and Coinbase Pro are well-known cryptocurrency exchanges in the decentralized finance universe. While Coinbase is aimed at beginners due to its simplicity and user-friendly interface, Coinbase Pro is platonic for advanced and agile traders.

In this Coinbase vs. Coinbase Pro comparison guide, GOBankingRates takes a look at the similarities and differences betwixt the exchanges to determine if the latter is worth the upgrade.

Hither’due south a look at some of the integral features of both platforms, such as usability, fees, security and supported transaction types, as well every bit the mobile app features of each.

Coinbase vs. Coinbase Pro: A Quick Glance

If you desire a quick assay of both exchanges, hither is a tabular array summarizing their notable features:

Features Coinbase Coinbase Pro
Usability Best for beginners Platonic for active traders and advanced users
Supported Cryptocurrencies Hundreds of cryptos supported Hundreds of cryptos supported
Transaction Types Buying, selling, exchanging, receiving, storing Buying, selling, withdrawing, depositing, storing and trading. Likewise supports time in force orders, limit orders and stop orders
Security Features – Two-step verification
– Insurance for an instance in which a Coinbase breach occurs
– Biometric fingerprint login
– AES-256r encryption for digital wallets and private keys
– FDIC insurance for USD balances held in cash
– Ii-step verification
– Insurance for an instance in which a Coinbase breach occurs
– Biometric fingerprint login
– AES-256 encryption for digital wallets and private keys
– FDIC insurance for USD balances held in cash
Maximum Trading Amount Depends on the region and payment method besides as account level Unlimited across orders; limit per order varies
Fees – 1% cryptocurrency transaction fee
– 2% for credit purchases
– ii.49% for purchases made with other cryptocurrency, including ATM withdrawals, using Coinbase Carte
– 1% for conversions with Coinbase wallet purchases
– 0.50% spread
0% to 0.sixty% for each trade

As yous can see, in that location are a lot of similarities between the two, but with a more comprehensive interface, Pro is designed for advanced users and active traders — and information technology’s less expensive.

Mobile Apps

The Coinbase mobile app is available for Android and iOS. It allows you to do the following:

  • Send Bitcoins:
    Yous can send supported cryptos to your buddies. Likewise, the app lets you lot send crypto to merchants who take it as a form of payment.
  • Request Bitcoin:
    You lot can besides request crypto from your friends through the app.
  • Access Accounts:
    The app lets you lot access your Coinbase vaults and wallets. Plus, you tin can bank check the transaction details.
  • Buy and Sell:
    All you have to do is connect the app to your bank business relationship. Then, you tin purchase and sell crypto on the go.

The Coinbase Pro mobile app was launched in Oct 2019, and the company released the Android version in July 2020. It includes all the basic features of the Coinbase app, plus:

  • Real-time candlestick charts
  • Depth charts
  • Avant-garde order types
  • Intuitive shortcuts
  • Order books

The Coinbase Pro app is available to customers in over a hundred countries worldwide.

Transactions

Both platforms allow transactions, such as receiving, sending, buying and selling. Withal, Coinbase Pro has some boosted options, such as margin orders, limit orders and finish orders.

User Education

Both options come with a broad range of video tutorials, guides and how-to manufactures to help crypto enthusiasts learn about market trends and stay updated.

Availability

Coinbase and Coinbase Pro are available in more 100 countries. However, some transaction types are restricted in certain regions.

Coinbase vs. Coinbase Pro: Supported Currencies

Both Coinbase and Coinbase Pro offer hundreds of cryptocurrencies for yous to choose from. They also accept fiat currencies for purchases, like euros, U.South. dollars and British pounds.

Some popular altcoins on the platforms include ethereum, litecoin, bitcoin greenbacks, uniswap, aave and stellar lumens.

Coinbase vs. Coinbase Pro: Fees

The biggest departure betwixt Coinbase and Coinbase Pro is the fee structure.

Coinbase Pro is cheaper, and fees differ based on the amount of the transaction. Here is how it works:

  • On a transaction less than $10,000, you will pay a taker fee of 0.60% or maker fee of 0.40%.
  • On a transaction of $10,000 to under $fifty,000, you volition pay a taker fee of 0.40% or a maker fee of 0.25%.
  • On a transaction of $50,000 to $100,000, yous will pay a 0.25% taker fee or a 0.15% maker fee.
  • On a transaction of $100,000 to $300,000, you will pay a 0.10% taker fee or a 0.02% maker fee.
  • On a transaction of $300,000 to $500,000, you will pay a 0.08% taker fee or a 0% maker fee.
  • On a transaction of $500,000 and up, you volition pay a 0.05% taker fee or a 0% maker fee.

The taker fee is 0.01% and maker fee is 0% for these stable pairs on Coinbase Pro:

  • DAI – USDC
  • DAI – USD
  • BUSD-USD
  • PAX – USD
  • PAX – USDT
  • USDC – EUR
  • USDC – GBP
  • USDT – EUR
  • USDT – GBP
  • USDT – USDC
  • USDT – USD
  • UST – USDT
  • WBTC – BTC

If y’all desire to avert fees, it would exist best to merchandise on Coinbase Pro. When trading on Coinbase, your fees tin can quickly add up. Whereas the maximum transaction fee on Coinbase Pro is 0.threescore%, Coinbase charges a apartment fee of one% on all cryptocurrency transactions, ii.49% for purchases made with the Coinbase Bill of fare and a 0.50% spread, which is included in the cryptocurrency cost.

Coinbase Pro Fiat Currency Deposit and Withdrawal Fees

The tabular array beneath shows the fees on depositing and withdrawing fiat currency from your Coinbase Pro account:

Currency Type Deposit Withdrawal
ACH $0 $0
Wire (USD) $10 $25
SEPA (EUR) €0.15 €0.15
Swift (GBP) £0 £1 GBP

Coinbase Pro does not charge any fee for signing up. You do non have to pay any fees for holding your funds either. You can proceed funds in your account for as long equally y’all want.

Coinbase Fees

Coinbase seems to have a fee for just about everything except ACH transfer. Here is how the platform’s fees compare to Coinbase Pro.

Fees Coinbase Coinbase Pro
Credit 2% 0%
Crypto conversions from Coinbase Wallet 1% 1%
Purchases fabricated using cryptocurrency, including ATM withdrawals two.49% 0%
ACH transfer 0% 0%

It is important to note that these fees could fluctuate, depending on the size of your order, market liquidity and volatility. The fees will be calculated when yous place your social club.

Coinbase vs. Coinbase Pro: Security

The security on Coinbase and Coinbase Pro is the same. Deposits on both platforms are insured by the Federal Deposit Insurance Corporation’s for up to $250,000.

Moreover, all accounts have biometric fingerprint logins and two-factor authentication. Coinbase also has an insurance policy that covers cash losses, excluding trading losses.

Coinbase vs. Coinbase Pro: Usability

Both platforms are like shooting fish in a barrel to use and very accessible. With either service, you can use either the spider web browser or mobile app to conduct transactions.

Since Coinbase only has bones transactions like buying, selling and exchanging, it is easier to utilize for beginners. Meanwhile, Coinbase Pro has more features and data. It might seem daunting to beginners and could be overwhelming if the user is not educated on advanced crypto trading.

However, information technology is easy to go the hang of both platforms after using them for a short while.

Is Coinbase Pro Worth the Upgrade?

Coinbase has all the features that someone merely jumping into the crypto market could possibly demand. Coinbase Pro, on the other hand, is worth the upgrade for users who are familiar with advanced features and empathise how limit, terminate and margin orders are imposed on their assets. There’s no fee to have a Coinbase Pro account.

If you are a beginner, Coinbase Pro may be also intimidating for you. Similarly, Coinbase could exist restrictive for users who want to explore every avenue of crypto trading.

If y’all want to save coin on fees and feel comfy navigating an advanced interface, Coinbase Pro may be the right choice for y’all.

GOBankingRates’ Crypto Guides

  • What Is Cardano? (ADA)
  • What Is Bitcoin Cash? (BCH)
  • What Is Chainlink? (LINK)
  • What Is Dogecoin? (DOGE)
  • What Is Litecoin? (LTC)
  • What Is Polkadot? (DOT)
  • What Is Ripple? (XRP)
  • What Is Stellar? (XLM)
  • What Is Tether? (USDT)

Daria Uhlig contributed to the reporting for this article.


Information is authentic as of June 10, 2022, and is subject to change.


Editorial Note: This content is not provided by Coinbase. Whatsoever opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author lonely and take not been reviewed, approved or otherwise endorsed past Coinbase.

Scott Jeffries is a seasoned technology professional based in Florida. He writes on the topics of business, technology, digital marketing and personal finance.
After earning his available’s in Management Data Systems with a minor in Business, Scott spent fifteen years working in technology. He’southward helped startups to Fortune 100 companies bring software products to life. When he’southward not writing or building software, Scott can exist constitute reading or spending fourth dimension exterior with his kids.

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Source: https://www.gobankingrates.com/investing/crypto/coinbase-vs-coinbase-pro/

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