Review on Coinbase Pro by Adejoh Samuel
Coinbase Pro, An Advancement Over Coinbase
The Coinbase Pro is a centralised exchange platform that is owned and operated by one of the largest exchange platforms in the world, Coinbase. The Coinbase exchange platform which was introduced in the year 2012 decided to make available an exchange platform for experienced traders and in 2015, Coinbase Pro came into existence. At first, it was called the "Global Digital Asset Exchange" (GDAX) but had it's name changed in the year 2018. It is of no doubt that Coinbase Pro tends to be more advanced than Coinbase itself, that's the relevance of the "Pro" there. It tends to have some advantages like the trading fee. Coinbase Pro charges less than Coinbase and unlike Coinbase, their trading fee is not flat. Coinbase Pro charges takers 0.25% and makers 0.15% (the takers fee happens to be exactly the industry's average while the maker's tends to be below). The Coinbase Pro happens to be focused on experienced traders while Coinbase focuses keenly on newbies, Coinbase Pro allows users to trade coins based on the market order books while Coinbase serves as a third-party by allowing users to trade through its own platform.
The Coinbase Pro is an exchange platform that allows fiat to crypto tradings and cryptocurrencies like Bitcoin and Ethereum are accepted while Fiats like the United States Dollars, United Kingdom Euros and the British Pound are accepted. The company is housed in San Francisco (being it's headquarters). They charge a fee of 1.49% on transactions made with a bank and 3.99% for those made by debit or credit cards. The company at first never charged for withdrawals but had that changed on the 18th of September 2020 and now charges little for transactions as the money charged gives them no profit at all.
Talking about it's security, the Coinbase Pro stores almost 98% of users funds in a cold storage and also have it insured by FDIC insurance which reimburse the US government if the exchange is bankrupt.
The exchange platform can be recommended mainly to advanced traders and not learners because of the manner in which their User Interface has been designed. New traders can make use of the Coinbase exchange platform instead.
Pros
- The company tends to feature advancements over their owner, Coinbase
- They charge a very competitive trading fee, 0.25% for takers and 0.15% for makers
- They store about 98% of funds in a cold storage wallet and still have funds insured
- The company is registered or centralized, leaving it a very trusted one
- Accepts fiat tradings with popular Fiats like the USD, GBP and EUR available
- The company never charged withdrawal fee until lately and that was due to the conversion rate and not profit based
- Offers high liquidity
Cons
- The exchange platform tends to focus on experienced traders and going to Coinbase involves more trading fee
New products
Comments (4)
December 20, 2020
I think you guys are getting this thing all wrong, the Coinbase Pro is a major Advancement over Coinbase. This wasn't mistakenly made, it's intentional. That's why the word Pro is found there. It has displayed it's superiority in it's User Interface and trading fee.
December 18, 2020
Very nice review, but I dont really like centralized exchange, decentralized exchanges are actually the best form of exchanges, But since this is the problem version I expect it to be better
December 18, 2020
Coinbase Pro being an advancement over Coinbase is how it should be. The exchange platform happens to be better that it's founder. It also allows fiat trading. The Coinbase Pro tends to charge lower than Coinbase and have their UI properly outlined.
December 18, 2020
The Coinbase Pro is a nice exchange platform that has been specially built for experienced traders. I just wonder why they reduced the trading fee of experienced traders and didn't for novice. I think it's the novice's that should be reduced because they are new and are yet to make enough money from trading
