Coinbase Pro
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Kryptos (116)
Coinbase Pro Review
What is Coinbase Pro?
Coinbase Pro is an American cryptocurrency exchange. Some of you may have heard of GDAX. Well, this is GDAX. The name change took place in July 2018, following which it will hereinafter be known as Coinbase Pro.
Coinbase Pro prides itself on offering institutions and professionals the ability to trade a selection of digital currencies like Bitcoin, Ethereum, and more on a regulated exchange. This is a big difference from most other exchanges, as most other exchanges are not regulated.
Coinbase Pro Advantages
The exchange has many advanced trading functions. For instance, you can do leveraged trading of up to 500:1. To our knowledge, there are no other exchanges offering a leverage this high.
The exchange itself promotes three things: industry leading API, insurance protection and competitive fees. The industry leading API is helpful for people who develop programmatic trading bots to enhance their trading. Insurance protection is helpful to everybody, seeing as the protection the insurance provides is for all assets held at the exchange. The fees are naturally also helpful to everybody.
US-investors
As Coinbase Pro is an American cryptocurrency exchange, US-investors can freely trade at this exchange as well. America is in many ways the ruler of cryptocurrency right now. It has a very impressive number of cryptocurrency exchanges and a large part of the everyday cryptocurrency trading occurs on American exchanges or on other exchanges but involving American traders. A few of the cryptocurrency exchanges coming from the USA are Coinbase, Gate.io, Paxful and Bitquick.
Coinbase Pro Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Coinbase Pro:
Coinbase Pro Fees
Coinbase Pro Trading fees
The fees at Coinbase Pro are what we call flat fees, meaning that makers and takers are charged the same fee. The fees here are 0.50% for both takers and makers. This is clearly above the industry average, which has historically been around 0.25%. Today, however, we see more and more exchanges moving towards even lower trading fees such as 0.10%. So in comparison with this, 0.50% is even more above the industry average.
Coinbase Pro also offers trading fee discounts when you have a large trading volume during the preceding 30 days. Trading fees can become as low as 0.04% for takers and 0,00% (i.e., free) for makers. That is if they have a trading volume exceeding USD 1 billion. So we don't think that there are that many traders that will reach the highest level of trading fee discounts at Coinbase Pro. The exact trading fee discounts are set out in the below table:
Coinbase Pro Withdrawal fees
Furthermore, the exchange does not charge any withdrawal fees at all for withdrawing cryptocurrencies. This is a very strong competitive edge in the market and really distinguishes this exchange from most other top crypto exchanges.
Deposit Methods
Coinbase Pro offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.