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Review on Coinbase Pro by Richard Mooney

Revainrating 5 out of 5

My favourite CeFi platform but could be better

Coinbase Pro is great, it lacks the chaos that is binance. Since I started using it shortly after the 2020 crash, I've had no problems moving fiat or crypto assets in or out of it. Plus, moving assets between the regular and Pro version is free, which is a huge money saver for me personally.



Possibly the best thing about it is it's fee structure. Unlike other services which are a bit vague by saying "1%", coinbase Pro is upfront about the cost. However, a set cost does mean trading smaller amounts is not ideal. Trading £5 of Bitcoin to Ethereum on the regular version will incur a £0.99 fee. But trade £100 and the fee is still the same. On Pro, the fees are reduced significantly. Just something to consider if you are thinking of Doing some trading to capitalize on the price swings. Even though I do not do much trading, Coinbase Pro's fee structure is far superior to it's non-pro cousin.



My only problem with Coinbase Pro is I wish it had the interface of the regular Coinbase. The interface of the regular version is clean, simple and uncluttered. However, you can't watch candlestick charts on the regular version, so I guess they have to keep the two versions separate otherwise people would never use the regular version and Coinbase would make less money on fees.



There are over 70 currencies on Coinbase now, still nowhere near as much as Binance, but it has all the main currencies that a beginner or safe investor could want: Bitcoin, Ethereum, Cardano, Doge, Litecoin, monero, Dash etc. Plus they have a lot more niche assets like NuCypher Numaire, and even Revain. You can look at charts of various other cryptocurencies even if you can't trade them, which is a bit annoying, but I'd rather have the option to do some due diligence on a platform I trust before seeking out how to buy elsewhere.



Ripple is not available on the platform anymore, and while this is by no means a make-or-break factor for me, it may be for someone else who really wants to invest in it. You can still read charts on it though.



Overall though, I haven't had a problem with Coinbase Pro in the 18 months I've been using it. To get the best overall experience, I've paired it with the regular version to give myself the combination of better fee structures alongside the interface that I prefer. Combining the two can be cumbersome, especially since yo have to log in with a six digit PIN code, or use biometrics like facial recognition or iris scanning to log in even if you close the app for a second.

Pros
  • Better fee structure,
  • free transfers between regular and pro versions.
Cons
  • Interface weak,
  • not as innovative.

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