In the world of trading cryptocurrencies, Coinbase and Coinbase Pro are two famous platforms that offer different features to meet the needs of different investors. Coinbase is known for having an easy-to-use interface and being straightforward, but Coinbase Pro is made for more experienced traders who want more trading choices. If you are looking to know how to transfer from Coinbase to Coinbase Pro, this article will guide you through the process step-by-step.
What is Coinbase?
Coinbase is a trading site for cryptocurrencies that is easy to use and lets people buy and sell Bitcoin, Ethereum, and Litecoin, among others. Since it started in 2012, it has become one of the most used markets in the world. Coinbase has a simple and easy-to-use interface, which makes it great for people who are new to buying cryptocurrencies. The platform also has apps for Android and iOS mobile devices that let people trade on the go.
What is Coinbase Pro?
Coinbase Pro is the tool for professional traders that the company offers. It’s made for expert traders who need advanced features and tools for trading. When compared to Coinbase, Coinbase Pro’s trading interface is more advanced. It gives users access to real-time charts, advanced order types, and detailed market info. Beginners may find Coinbase Pro confusing, but experienced users will find it gives them more freedom and control.
Why Transfer from Coinbase to Coinbase Pro?
There are several reasons why you might consider transferring from Coinbase to Coinbase Pro:
- Advanced Trading Features: Coinbase Pro offers more advanced trading features and tools compared to Coinbase. If you are an experienced trader looking for more control and flexibility in your trading activities, Coinbase Pro can provide the necessary tools.
- Lower Fees: Coinbase Pro has a different fee structure, which can be more cost-effective for high-volume traders. By switching to Coinbase Pro, you may be able to save on trading fees.
- Increased Liquidity: Coinbase Pro provides access to a larger pool of liquidity compared to Coinbase. This can result in better trade execution and tighter bid-ask spreads.
- Professional Trading Interface: Coinbase Pro is designed for professional traders and provides a more sophisticated trading interface. If you are comfortable with advanced trading tools, charts, and order types, Coinbase Pro can enhance your trading experience.
Also Read: Coinbase and Coinbase Pro Comparision
How to Transfer Funds between your Coinbase Pro and Coinbase accounts?
Transferring funds between your Coinbase and Coinbase Pro accounts is a straightforward process. Follow these steps and you will have full control of how to transfer from Coinbase to Coinbase Pro:
- Log in to your Coinbase Pro account using your Coinbase credentials.
- Click on the “Deposit” button to initiate a fund transfer.
- Choose the cryptocurrency you want to transfer from the list of available options.
- Select “coinbase.com” as the deposit method.
- Specify the source wallet from which you want to transfer the funds and enter the amount you wish to send.
- Click the “Deposit” button to complete the transfer.
The funds will be transferred from your Coinbase account to your Coinbase Pro account instantly. You can then use these funds for trading on Coinbase Pro or take advantage of the advanced trading features offered by the platform.
How Does Coinbase Pro Work?
Coinbase Pro can be accessed through a desktop browser or a mobile app available for iOS and Android devices. The platform offers a range of features and options for trading cryptocurrencies. Users can view real-time charts with various technical indicators, monitor their open orders, and analyze trading history. Coinbase Pro supports different types of orders, including market orders, limit orders, and stop orders. The platform also provides access to liquidity from a diverse range of trading pairs.
Can I Link Coinbase to Coinbase Pro?
Coinbase and Coinbase Pro are owned by the same company but operate as separate platforms. While you cannot directly link your Coinbase account to Coinbase Pro, you can transfer funds between the two accounts as mentioned in the previous section. This allows you to leverage the different features and trading options provided by each platform.
Now that you know how to transfer from Coinbase to Coinbase Pro, it makes sense that this can be a good idea for expert traders who need more features and tools for dealing. Coinbase is great for beginners and casual traders, but professional traders will want to use Coinbase Pro because it gives them more options and control. Before making the move, you should think about your trading needs and preferences to make sure it fits with your trading goals.