Coinbase and Coinbase Pro have emerged as leading crypto exchanges well versed in uncomplicating crypto transactions, but what's the difference between the two?
While Coinbase offers a limited yet copious amount of facilities to navigate the crypto proceedings easily, Coinbase Pro, on the other hand, offers additional facilities in terms of security features, the number of supposed cryptos that offers a much more comprehensive domain to work with.
While accessing Coinbase can be extremely useful for budding investors, Coinbase Pro can offer a vast portfolio of services to both investors. So, with users able to transfer between Coinbase and Coinbase Pro, let's take a look at some major points that make these two platforms unique and special.
Coinbase and Coinbase Pro- Essential Differences
Coinbase
The base version of Coinbase can be described as a beginner-friendly platform that allows users to invest in 107 cryptocurrencies. New Coinbase listings also come out fairly regularly.
Users can trade cryptos using their debit and credit cards, and can have access to a crypto watch list to keep a track of upcoming new crypto coins.
In terms of security, Coinbase offers limited services comprising 2FA via the Google Authenticator app. The platform also offers cold storage and a multi-signature wallet facility.
In terms of transactions, Coinbase offers its users the facility to buy, sell and exchange crypto tokens, with supplementary services including sending, receiving, depositing, and withdrawing.
Coinbase Pro
Coinbase Pro has been marketed as a platform essentially catering to more professional investors, offering professional trading services and interfaces. The platform also delivers multiple order types and services including advanced charting and analysis.
In terms of security, Coinbase Pro is accredited as an extensively robust platform. It boasts diverse security features including 2FA via Google Authenticator, cold storage, and multi-signature wallets. USD balances are FDIC insured (up to $250k) as well as the ability to whitelist pre-approved addresses.
As far as Coinbase Pro's transactions are concerned, the platform offers additional services such as Withdraw, Stop Order, Limit Order, and Time In Force Order policies. This is alongside the traditional buying, selling, and trading of crypto tokens.
Coinbase vs Coinbase Pro Fees
Coinbase and Coinbase Pro use different metrics for charging users transaction fees. The base Coinbase, which focuses more on smaller transaction fees, charges flat rates at various levels up to $205, before charging a flat 1.49% fee for anything higher.
Meanwhile, Coinbase Pro charges smaller percentages, starting at 0.6% and dropping to 0.04%. This varies depending on the amount transferred, with larger amounts having smaller percentages.
Here's the full breakdown.
Coinbase Fees
The Coinbase trading Fee break down is mentioned below:
- Up to $10: $0.99
- Above $10 to $25: $1.49
- Above $25 to $50: $1.99
- From $50 up to $205: $2.99
- $205 or more: 1.49%
Coinbase Pro Fees
- Under $10,000 - 0.6%
- $10,000 - $50,000 - 0.40%
- $50,000 - $100,000 - 0.25%
- $100,000 - $1,000,000 - 0.20%
- $1,000,000 - $20,000,000 - 0.18%
- $20,000,000 - $100,000,000 - 0.15%
- $100,000,000 - $500,000,000 - 0.10%
- $500,000,000 - $1,000,000,000 - 0.08%
- $1,000,000,000 - $2,000,000,000 - 0.05%
- Over $2,000,000,000 - 0.04%
Should You Transfer From Coinbase To Coinbase Pro?
While Coinbase Pro certainly comes with its own set of benefits and perks, it is often up to a user to decide whether he or she would like to explore the Pro edition.
If a user prefers to explore a high-volume trading strategy, then it may be beneficial for them to opt for Coinbase Pro. If the trader wishes to explore similar, yet more limited, crypto services, then Coinbase is the best platform to begin your crypto journey with.
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