Coinbase and Coinbase Pro are well-known cryptocurrency exchanges managed by Coinbase. Both allow you to use Fiat currencies to buy different currencies. Their simplicity also allows even novices to use Coinbase and more professionals to take advantage of Coinbase Pro’s special features.
In this tutorial, we will review both Coinbase Pro and Coinbase and make a complete comparison. It is determined which service has better performance and security. However, Coinbase has a lot of costs, but it launches for beginners in the world of virtual currencies. Coinbase Pro benefits from more types of transactions at lower prices.
Compare Coinbase and Coinbase Pro
Both systems have similarities and differences. Coinbase launched for cryptocurrencies novices while Coinbase Pro attracts more professional traders.
Both tools have highly professional mobile applications and provide excellent services for buying and selling, and trading.
The Coinbase platform has an electronic wallet that supports several types of digital coins, and you do not need to be a Coinbase member to use the wallet.
Coinbase covers most features. More than 100 countries use this website.
Many video tutorials on these websites can be used as a completely digital currency training class.
The Coinbase Pro platform allows users to have more professional capabilities for their transactions. This application has timely charting tools and an exponential moving average. You can also see the transaction history, Farsh book, and price charts in it.
On both platforms, the type of transactions is different. At Coinbase, you are only allowed to buy, sell, send and receive transactions. Coinbase Pro also offers professional capabilities such as stop orders, limiting, and marginalizing.
Coinbase and Coinbase Pro security
Coinbase is at a high level of security, and Coinbase Pro is in the same range. There is a system called a direct listing in these platforms, which, despite the difference with the IPO, can almost sell stocks in public. Security in this method is very high and is at the level of industry standards.
The FDIC guarantees the entire dollar balance at $ 250,000 per person. The Coinbase platform is one of the safest places to trade or trade digital currencies.
Coinbase holds nearly 98% of its users’ assets offline in cold storage boxes, and the remaining 2% is included in Coinbase insurance policies to compensate for any losses incurred by the website.
There are also two-factor authentication and fingerprint logging methods to provide more security on the platforms. Digital wallets and private keys use AES-256 encryption. However, every user is required to use a strong password for their account. In addition, the Coinbase Pro system allows you to store your data in cold storage.
Both Coinbase and Coinbase Pro platforms support Fiat currencies such as USD, GBP, and EUR. You can select more than 50 Altcoins in both systems. Of course, there are some differences here, including that Coinbase supports the BSV token but does not have GNT or, for example, LOOM. In Coinbase Pro, the opposite is true.
The following is a list of valid cryptocurrencies that are supported on both platforms:
- Ethereum (ETH)
- Litecoin (LTC)
- Cardano (ADA)
- Bitcoin Cash (BCH)
- Stellar Lumens (XLM)
- Chainlink (LINK)
- Uniswap (UNI)
Compared to Coinbase and Coinbase Pro with Gemini, there are more cryptocurrencies to trade, but there is still a long way to go than the Binance platform.
Coinbase Vs. Coinbase Pro: Fees
The Coinbase and Coinbase Pro platforms are different in terms of infrastructure. Coinbase has more difficulty and higher costs. Coinbase Pro, on the other hand, costs less. According to Coinbase rules, all transaction costs are close to 4%, but most of it depends on your payment method.
Coinbase charges a high fee for fixed and variable transactions. Coinbase Pro also reduces the cost of each higher-cost transaction.
- Transactions less than $ 10,000 pay a 0.50% taker fee or 0.50% maker fee
- Transactions $ 10,000 to $ 50,000 pay a 0.35% taker fee or 0.35% maker fee
- Transactions $ 50,000 to $ 100,000 pay a 0.25% taker fee or 0.15% maker fee
- Transactions $ 100,000 to $ 1 million pay a 0.20% taker fee or 0.10% maker fee
If you spend $ 100 to buy Altcoin on Coinbase, you are paying more than the overall market average. For example, paying this fee with a credit card is 3.99% of the total transaction. Suppose the average rate is $ 2.99. At Coinbase Pro, you only have to pay 50 cents for a $ 100 deal.
User simplicity compared Coinbase and Coinbase Pro
All the trading capabilities of Coinbase and Coinbase Pro are available on their website, and you can use all of their services on the website.
Coinbase is simpler and more useful for new users. So it costs more. All you have to do is log on to the website, sign up and start selling. Coinbase Pro is a little more confusing at first, so use it if you are a more professional user.
If you work with both platforms, you will find that they are easy and easy to learn and trade. Coinbase Pro’s more professional trading capabilities also have interesting features created for more knowledgeable people.
You must create an account to use each platform. This account includes a username, email, and password. Once you have verified your Coinbase email, you can also enter your contact number for two-factor authentication.
Users in the US must also register a social security number. After this step, you can also enter your debit card or credit card.
First, you need to decide how much you want to trade and then click Trade. Specify the type of altcoin, determine the amount and then make the purchase. In this step, the transaction cost and the total cost are displayed, and you go to the payment page with the Buy option.
Should I Use the Coinbase Wallet?
There is no requirement to use a Coinbase digital wallet. Coinbase wallet is available as an Android and iOS application, and you can keep any kind of digital coin on it.
Unlike other wallets, the Coinbase digital wallet uses a two-factor authentication system to increase security. It also allows you to manage your other digital currencies. You must first enter the address of your other wallet, and then you can use it.
Which one should we choose? Coinbase or Coinbase Pro?
Depending on the user, you can use both Coinbase and Coinbase Pro platforms. If you are new, choose Coinbase and if costs are more important to you, use the Coinbase Pro platform.
Coinbase Pro offers more features, and you can also pay less for your transactions. There are many tutorials for working with Coinbase Pro.
In this article, we examine the strengths and weaknesses of both platforms. We saw the type of transactions, cost, payment and withdrawal options, and digital currencies traded on Coinbase and Coinbase Pro. You can choose between these two and start trading now.