Review on Coinbase Pro by Naomi Ilani
A Well Secured Crypto Exchange Platform
The Coinbase Pro is an American crypto exchange platform that is highly regulated and formerly called GDAX. The platform is known to have the highest leverage trading of 500:1. This is the highest leverage trading in the crypto
Talking about the fees, Coinbase Pro charges a whooping 0.5% to both the takers and makers. This is the highest trading fee and is far higher than the industry's average which is about 0.25% (happens to be double). Although the platform programmed it in a way that the trading fee can drop to as low as 0.04% for takers and nothing for makers, it is very difficult to enjoy this discount as the user would have to make a large trading volume during the prrceeding 30 days which should be above a billion dollars. I wonder how many traders can make so much a volume within 30 days. The platform does not charge for withdrawals at all which I find compensating
Moving on to its security, Coinbase Pro provides a great security system by enabling users develop programmatic trading bots. The platform also stores about 98% of it's users digital assets on a cold wallet, thereby reducing the possibility of hack or any other security problem. While the remaining is privately insured. It also runs a 2 Factor Authentication and all of it's site traffic over HTTPS and has its wallets and private keys encrypted on AES-256
I really find the security of this platform compensating to its high trading fee and the fact that they don't charge withdrawal
Pros
- Highly secured
- Has 98% of it's user's funds stored on a cold Wallet
- Has the remaining privately insured
- The platform is regulated
- Has the highest leverage trading
Cons
- Charges the highest trading fee
