Coinbase vs Coinbase Pro – ultimate review
If you can’t decide on Coinbase vs Coinbase Pro, this guide’s for you. Based on current trends, crypto assets might take over fiat currencies soon. You probably have been checking out all sorts of internet coins too. Coinbase is an incredible cryptocurrency exchange platform, and you could choose between the vanilla or Pro version.
First, we’ll go through the features of Coinbase and its Pro version. Then, we’ll break down and compare each of their parts. Even if you’re not a professional crypto trader, you might want to stick to Coinbase Pro. It offers all the basic version provides, but it lets you take your crypto investments to the next level!
There’s a wide variety of cryptocurrency exchanges, but only a few provide the best features. You deserve the best platform for your investments, and Coinbase is one of them. If you’re starting, you could make do with the basic version. Once you get the hang of it, you may want an upgrade to Pro.
What is Coinbase?
Before we get into Coinbase vs Coinbase Pro, let’s learn what’s it all about. Known as GDAX back then, Coinbase enables folks to buy cryptocurrencies.
Create a Coinbase account, then link your bank account, debit card, or credit card. Then, you can use your funds to buy all sorts of cryptocurrencies like:
- Bitcoin (BTC)
- Ethereum (ETC)
- Litecoin (LTC)
- Basic Attention Token (BAT)
- Stablecoins (USDC)
- Stellar (XLM)
- 0x, (ZRX)
- Bitcoin Cash (BCH)
- Ethereum Classic (ETC)
- Chainlink (LINK)
- Augur (REP)
- Tezos (XTZ)
- Algorand (ALGO)
- Stablecoins (USDC)
What is Coinbase Pro?
Coinbase offering a Pro version is like most smartphone apps. For a fee, you can enjoy more features and improvements.
Coinbase Pro lets you take crypto investing to new heights. As you get the hang of these internet coins, you may want to do more with them.
Letting them sit in your wallet might not be enough for you. Since other cryptos are growing, too, you may want them for your portfolio.
You don’t have to shell out more fiat for those. Coinbase Pro allows you to trade your coins for other cryptos.
The difference between Coinbase vs. Coinbase Pro is their primary purpose. Pro’s more like a trading platform that helps newbie traders learn the ropes.
Some might say it lacks in-depth information. If you’re a beginner, the less info could help you ease into these advanced terms. You may add them later as your progress.
Related Article: What is Online Trading?
Coinbase vs. Coinbase Pro features
Let’s get into the similarities of the original and pro version first. Whether you get Coinbase or Coinbase Pro, you get the following:
- Availability – It’s used in more than a hundred countries, perhaps even yours!
- Smartphone app – Both Coinbase versions are available on Android and iOS. Keep an eye on your cryptos wherever you go!
- Digital wallet – Like other cryptocurrency exchanges, it provides digital coin storage. You don’t even need to be a Coinbase user!
- User education – It provides tutorials, guides, and how-to articles. This could help you improve as an investor.
Outside these features, advanced options set apart Coinbase vs Coinbase Pro. The latter lets you use limit orders, stop orders, and margin orders.
The Coinbase UI provides ease of use for its 13 million users. Its simple interface is excellent if you don’t want too many bells and whistles.
It lets you buy or sell cryptos based on the market prices and fees offered. Also, it allows users to store cryptos and secure them with a password.
No matter your pick between Coinbase vs. Coinbase Pro, you need a crypto wallet. Also known as tricky wallets, these give private keys for solid protection.
On the other hand, Coinbase Pro is more suited to crypto traders. It might have too much info for beginners, but it does give you more features.
Even better, it still gives a user-friendly interface. The left side shows your wallet balance and lets you choose to buy and sell order types.
The middle section shows the price charts and the order book. On the right, you could see your trade history.
Related Article: Should I Buy Ripple?
If you want to trade like a pro, you know your pick between Coinbase vs. Coinbase Pro. The latter lets you go from investor to trader!
Unlike the plain version, Pro enables margin trading up to 3x on USD pairs. You could also start trading Crypto pairs like BTC/ETH.
You could add APIs so you can link your Coinbase account with other trading apps. This lets you access more info for better trades.
Coinbase accepts the US dollar (USD), British pound (GBP), and the Euro (EUR). Your selection of trading pairs depends on where you live.
Here’s why the Pro version might be better, even if you’re a newbie. Between Coinbase vs Coinbase Pro, the latter has simpler and cheaper costs.
Whether you buy, sell, or trade cryptos, you often pay fees. Coinbase fees are usually more expensive and complicated. On Pro, most of them cost around 0.50% or free!
|Trading fees||Coinbase||Coinbase Pro|
|Wire transfer||$25 withdrawal, $10 deposit||$25 withdrawal, $10 deposit|
|Crypto conversion||0.50% to 2%||0.50% to 2%|
|Purchases||0% to 0.50%||0% to 0.50%|
|Trades||$0.50%||$0 to $0.50|
|Coinbase fee||$0.99 to $2.99 depending on the amount||Taker fee: 0.04% to 0.50%
Maker fee: 0% to 0.50%
Note that these fee structures might be different depending on your location. Check if your country’s laws before you create a Coinbase or Coinbase Pro account.
Related Article: Everything You Need to Know About Dogecoin Stock
Whichever you pick between Coinbase vs. Coinbase Pro, you get top-notch protection. It follows higher standards than others in the industry.
If you have a USD cash balance, it’s FDIC-insured. Each individual gets up to $250,000. If you’re not from the US, Coinbase keeps your funds in a dedicated account.
What’s more, 98% of user funds are in offline deposit boxes known as cold storage. The company stores the 2% online backed by their insurance policy in case of cyber attack.
It seems everyone wants to ride the crypto hype train nowadays. You even have Elon Musk supporting Dogecoin! If you’ve invested before, it was incredible. You might be enjoying huge gains.
Coinbase Pro lets you do more than buy online coins and wait for growth. You could use your existing coins to get more. It’s a great idea since the altcoins are growing as well!
If you’re a beginner, you may stick with plain Coinbase for a while. Read the Coinbase articles to learn the basics, then buy your first cryptocurrencies.
You shouldn’t rely on just one source of info, though. Check more tips on cryptocurrency trading to get a better sense of this new concept. More importantly, test what you’ve learned!