Review on Coinbase Pro by Arun Kaul

Name: Coinbase Pro
Item: Coinbase Pro
Rating: 3

June 18, 2019

Leading Digital Asset Exchange - Coinbase Pro

Coinbase has always been known to stick customers with small fees and strict trading limits. Since Coinbase Pro clearly caters to a more sophisticated cryptocurrency trading clientele, it is surprising that the maximum daily withdrawal limit is 10,000 usd.

To increase this limit, you’ll have to submit a request with customer service. Moreover, although ACH deposits and withdrawals are free, be aware that deposits can take up to 7 business days to process. At this time, there is no instant deposit for USD. If you deposit BTC, ETH, LTC, BCH, or ETC, funds are available much quicker.

Overall, in terms of trading fees, Coinbase Pro is decent if you plan on only using limit orders, i.e. a maker order. If you add liquidity to the market via a limit order, you will not me charged a fee. It is worth noting that some online crypto exchanges actually provide rebated for maker orders; Coinbase does not.

If you use a market order, which is a taker order, you will be charged anywhere from 0.30% of the order value to 0.10% of the order value. The pricing tiers for the taker fees are based on total USD trading volume over a trailing 30 day period. The specific volume tiers for the taker fees are $0 to $10m, $10m to $100m, and $100m+, respectively.
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If you already have a Coinbase account, you’ll find approval for Coinbase Pro is pretty easy and takes about 1 to 2 minutes, assuming you’re a US citizen and have your drivers license handy.

You’ll be asked to submit a photo of the front and back of your drivers license, as well as a selfie (photograph of your self) to complete the initial verification.
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Important fact - Coinbase Pro should not be confused with Coinbase Prime. Coinbase Prime is designed for institutional traders, like hedge funds who are looking to expand into the crypto markets.
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