Cryptocurrency

Coinbase vs. Coinbase Pro: Which Is Best Suited for You?

Coinbase vs. Coinbase Pro

Coinbase is currently considered to be one of the best crypto exchanges in the world and it offers two separate platforms tailored for the everyday trader. The basic Coinbase platform is mainly designed in a simplistic style for ease of use and also to provide great educational content, whereas, Coinbase Pro is suited for the more advanced trader.

For a long time, users new to the Coinbase platform have been presented with the option to choose between the basic Coinbase plan or the platform’s more advanced service “Coinbase Pro”.

Both Coinbase & Coinbase Pro are free to sign up for. However, there are some key differences. Coinbase has a simpler interface best suited for beginners in the crypto space while Coinbase Pro has a wide range of trade options for lower fees when making some transactions and using additional data tools.

As time passes, comparisons between Coinbase & Coinbase Pro get more and more complicated for the simple reason that the company has added more features that use to be exclusively reserved for Coinbase Pro to its basic service Coinbase. Some examples include the option to transact crypto-to-crypto trades. However, the addition of these features to the basic plan is being rolled out strategically in phases, and not every new user who joins the platform had received access as of March 2022.

Users thinking of upgrading from Coinbase-to-Coinbase Pro should check out the Advanced Trading option on their account before making a decision. However, for new users creating new Coinbase accounts with the hopes of using Advanced Trading features, it’s best to go for Coinbase Pro.

Coinbase & Coinbase Pro are among two of the most trusted & popular cryptocurrency exchanges in the world & the most popular cryptocurrency exchange in the United States. Billions of dollars are traded annually on both crypto platforms. The main purpose of both exchanges is designed to make the buying, selling, and also trading of cryptocurrency easy and more accessible to their users. Coinbase is targeted at beginner-level traders whereas Coinbase Pro is targeted at more advanced cryptocurrency users who need more advanced tools to execute their trades.

Coinbase vs. Coinbase Pro: Fees

A major advantage Coinbase Pro has over Coinbase is its low trading costs which are more predictable and also potentially lower than Coinbase’s basic features. However, as time goes on and the company beefs up its core service, this will change.

Users pay up to 0.6% on executed trades when using Coinbase Pro and also the Advanced Trading products on Coinbase.

Users of Coinbase however will be charged based on some of the following factors:

*Method of payment

*Quantity being bought

*The conditions of the market which include volatility and also liquidity

Coinbase vs. Coinbase: Trading & Selection

Users on the Coinbase platform are incentivized to buy and sell crypto using fiat currency like U.S. dollars. Coinbase charges users a fee to easily trade one cryptocurrency for another.

Coinbase vs. Coinbase Pro: Staking and rewards

One of Coinbase’s undeniably great services is its ability to allow its users to earn rewards simply by holding cryptocurrencies on the Coinbase platform. However, Coinbase Pro does not offer this particular feature.

The Crypto Staking service Coinbase offers allows its asset owners to earn more cryptocurrency in exchange for assisting to confirm transactions on the blockchain network.

Coinbase vs. Coinbase Pro: Security

 Security for both exchanges is similar since account login information for both platforms is connected. The following are some of the security options available on both platforms:

Built-in Wallets

Coinbase & Coinbase Pro have built-in wallets in their system to enable users safely store their cryptocurrencies. They are well protected with a Secure Enclave and also biometric controls. There is also a feature with a 12-word encrypted recovery phrase that secures the user’s assets.

Two Factor Authentication

Coinbase as well as Coinbase Pro offer a two-factor authentication process whenever there is an action related to security. This happens when a user is trying to log in and also on a per-trade basis. The authentication process comes in the form of SMS or the Google Authenticator app.

Coinbase vs. Coinbase Pro: features

Coinbase & Coinbase Pro’s main purpose is to ensure ease in purchasing cryptocurrency for its users. Here are a few examples of each platform’s unique feature.

Coinbase Unique Feature

Free access to crypto knowledge: Coinbase offers its users the chance of learning all about cryptocurrencies. This feature is built into its platform and also the mobile app. They include short and easy-to-understand videos on topics in the crypto space. There is also some kind of reward system when tasks are completed.

Newsfeed: Coinbase always strives to update its users on the current events happening in the cryptocurrency space with a built-in newsfeed feature on the platform. These updates come in the form of articles from reputable sources around the world.

Coinbase Pro Unique Features

Multiple Trading options: Coinbase Pro, has a broader scope for cryptocurrency trades. This platform gives its users access to a variety of trading options.

Advanced charting option: Coinbase Pro makes the trading experience for its users stress-free by offering trade features such as minute-by-minute trades and also tracking moving averages for each cryptocurrency movement and price action.

In conclusion, Coinbase and Coinbase Pro, have a lot of similar features. Both exchanges have similar cryptocurrencies and are also very safe to store your cryptocurrencies. Both platforms work hand in hand depending on what level of trades the user would like to make. Coinbase is targeted at the bigger trader and has a simplistic easy-to-learn interface whereas, Coinbase Pro is designed for the more experienced trader with more trading tools at their disposal to successfully execute their trades. Both platforms have their advantages and disadvantages, however, they offer the best user experience. This is why they are both part of the best crypto exchanges in the world at the moment. Both platforms are safe, and secure and also provide users with the best trading experience.

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