Coinbase will replace its Coinbase Pro tool with a new platform known as Coinbase Advanced Trade, the exchange has announced.
However, before you go transferring from Coinbase to Binance or looking at how to withdraw from Coinbase, this is more of a migration than a shutdown. Coinbase Advanced Trade and Coinbase Pro share many of the same features.
Set to unify the Coinbase account and bring across Coinbase staking and other features to the main platform, here’s what Coinbase said about its new tool.
Coinbase Advanced Trade To Replace Coinbase Pro
In a blog post on June 20, Coinbase announced the decision to replace Coinbase Pro with Coinbase Advanced Trade.
The reasoning behind Coinbase’s decision is to remove the issues when using and transferring between Coinbase and Coinbase Pro.
“Many customers rely on Coinbase Pro and Coinbase.com for overlapping sets of features, and often experience friction when transferring balances back-and-forth between the two products,” Coinbase said.
Previously, Coinbase Pro was a rather separate entity from Coinbase, requiring users to transfer their cryptocurrency between the two. Coinbase Pro users were able to take advantage of a variety of additional features. This included access to new Coinbase listings ahead of the main exchange.
To use Coinbase Advanced Trade, Coinbase Pro users will need to transfer their assets back to Coinbase, and then go to its Advanced Trade tab.
Coinbase Advanced Trade Vs Coinbase Pro
Coinbase Advanced Trade includes all the existing features of Coinbase Pro. However, Coinbase describes it as a “better alternative” due to its upgrades and integration with the main Coinbase account.
In terms of Coinbase transaction fees, Advanced Trade has the same volume-based fees that Coinbase Pro uses.
However, Coinbase also states it has “more in-depth technical analysis and advanced real-time order books”, alongside improved order flows.
Coinbase Advanced Trade Release Date
Coinbase Advanced Trade actually released in early 2022, but will see an increased rollout later in 2022 as it gears up to replace Coinbase Pro.
According to the Coinbase blog, Coinbase Pro’s sunsetting will begin “later this year”. Meanwhile, it will roll out Advanced Trade on the Coinbase App in the “coming weeks”.
Aside from this, Coinbase said it intends to launch new upgrades to Coinbase Advanced Trade in the next several months.