Coinbase vs. Coinbase Pro: Fees & Differences
Coinbase is one of the most popular cryptocurrency exchanges of them all.
Having the ability to buy, sell, and trade cryptocurrency is now easier than it has ever been.
Whoever thinks that there are only a few options in the crypto space is mistaken.
There’s a whole world of possibilities waiting for users to take part in it.
Coinbase Global Inc.
understands that there are different users with different goals.
That’s why Coinbase offers two options: one for beginner investors, and one for advanced users.
Whether you want to become a Coinbase Pro or Coinbase user, you need to take a look at the basic and advanced features of both platforms.
Hence, continue reading this blog post to get more information about the following matters:
- Coinbase vs. Coinbase Pro: in detail comparison of both options;
- Which one of these cryptocurrency exchange platforms should you choose?;
- Things you can do in both Coinbase and Coinbase Pro.
Coinbase vs. Coinbase Pro: Overview
With more than 56 million verified users, Coinbase is, for many, the leading platform for cryptocurrency trading, buying, and selling.
Coinbase offers a really easy-to-manage platform and mobile app, so getting started on it is elementary.
Thus, why would such a successful crypto exchange have two separate platforms instead of just one? The answer is simple:
Coinbase makes sure that user education and enhanced features are separated and aimed at specific audiences.
So, what is Coinbase Pro, and how do Coinbase features work then?
Well, both Coinbase Pro and Coinbase have similarly supported currencies and digital wallet measures, but there’s a lot to take into account before choosing just one of these alternatives.
What’s certain is that managing digital assets is a must these days, and thanks to the intuitive Coinbase mobile apps, anyone can get started in this world sooner than later.
Coinbase vs. Coinbase Pro Face to Face
Should you create a Coinbase account, or should you just directly become a Coinbase Pro user? Before making this decision, it’s fundamental to consider a lot of different parameters.
Coinbase users will immediately notice that user education is one of the platform’s top priorities.
Either way, let’s dive deeper into the nuances of both platforms in order to finally decide where you are going to create your digital wallets.
Read Also: Is Coinbase down? There might be a major outage going on, or perhaps we are just talking about regular maintenance.
Whatever the reason is, it’s essential to know how to fix it. Read our related article to get more information about this topic!
Coinbase vs. Coinbase Pro: General Features and Ease of Use
First things first - while comparing Coinbase and Coinbase Pro, we need to talk about those features that are available on both platforms.
Of course, Coinbase charges fees depending on the transaction that takes place, but these are different from one exchange to another.
This creates the need to analyze Coinbase fees in a dedicated section.
For now, let’s see the similarities between a Coinbase and a Coinbase Pro account.
Transfer from Exchange to Bank Account
You can Withdraw Money from Coinbase and Coinbase Pro directly into your bank account. Adding your bank as your main payment method is elementary on both platforms.
What’s more, you can use your debit card or credit card as payment method if you please too.
There are account fees for withdrawing funds, but converting digital currency to fiat money is really effortless.
Nonetheless, keep in mind that since both platforms are centralized exchanges, it’s utterly necessary to complete a verification process in both of them.
Coinbase takes the security of each customer funds very seriously.
Protecting the private keys of the users in cold storage provides a sense of safety that can hardly be found in any other exchange.
Additional features, such as Two-Factor Authentication, are on both platforms as well.
By enabling Two-Factor Authentication, users can have more control of their digital assets in a secure environment.
Keep in mind that Coinbase and Coinbase Pro have the same security measures, so there’s no major difference between the two options.
Coinbase Wallet is a separate digital wallet that belongs to Coinbase Global as well.
Non-custodial digital wallets allow users to have total control of each coin they decide to store.
So, for instance, if you purchase cryptocurrency in Coinbase or Coinbase Pro, you can safely move these funds to your external Coinbase Wallet.
Learn more about this topic by clicking here: Coinbase vs. Coinbase Wallet.
Coinbase vs. Coinbase Pro Fees
Now, it’s time to talk about the transaction fees.
There will always be a Coinbase fee on your account, whether we talk about a traditional trading fee, or a network fee.
Coinbase charges a 0.5% flat fee in every transaction.
Likewise, withdrawing money and placing trading orders will cause fees to happen in your account.
But the story is a little different when it comes to Coinbase Pro.
Coinbase Pro Trading Fees
Active traders will be happy due to the Coinbase Pro Maker-Taker Fee structure.
The Maker Fee happens when experienced traders place limit orders that do not take place immediately.
The Maker Fee is different from the Taker Fees, and they are usually lower.
Unlike the Maker Fee, the Taker Fee takes place with immediate transactions.
This variable fee is usually very low, and it certainly allows active traders to save money by trading.
Needless to say, these are lower fees than the ones we can find in Coinbase.
They are calculated based on monthly trading volume, so the more you trade, the more you save.
Learn more about Coinbase Pro Maker and Taker Fee Structure by clicking here.
Read Also: Getting a profit from trading and then transferring the funds into your bank account is one of the best feelings in the world!
There are a lot of coins available on this platform, but is it possible to buy XRP on Coinbase? Read our blog post to find out the answer!
Trading Cryptocurrency in Coinbase Pro vs. Coinbase
Now, it’s time to get things straight here. Coinbase has a simple user interface, and there’s a reason for it.
As we have mentioned all through the article, Coinbase is, in some way, an entry-level exchange for many people.
At first, it’s hard for someone to get familiarized with the concept of crypto trading.
Keep in mind that most cryptos, DeFis, and other initial coin offerings have risks related to them.
Therefore, trading is not a joke - you can earn big money, but you can lose your funds as well.
That being said, since Coinbase has a user-friendly interface, trading is elementary there.
But, on the other hand, users that actively trade crypto will feel that Coinbase Pro has so much more to offer than they imagine.
Besides, Coinbase Pro’s initiative of giving users discounts just for trading large amounts of cryptos is what makes so many advanced users go there instead of other exchanges.
Now, both platforms have similar available stable pairs, such as USD USDT, BTC GBP, USD PAX, and more.
You can check the entire list of supported currencies here: Coinbase supported crypto.
Unique Coinbase Features
We have already compared the features of both platforms that are similar, now let’s take a look at those enhanced features that can undoubtedly improve your crypto experience.
Make Money on Coinbase
These coins are directly transferred into their wallets, and since it’s aimed at a rookie audience, it’s not available in Coinbase Pro.
As we mentioned before, Coinbase takes user knowledge pretty seriously.
In a way, Coinbase Earn makes it possible that everyone can learn about this world while also earning free crypto.
It’s a win-win situation for everyone!
Do you have unanswered crypto questions and don’t know where to go? Well, you are certainly not ready for Coinbase Pro yet, but you might as well check Coinbase Learn without hesitation.
There you will find really helpful blog posts, amazing video tutorials, and unique insights about the cryptocurrency universe.
Even if you are an advanced user, you might find useful content in Coinbase Learn, so don’t skip on it!
Pro Tip: You can also make money by Coinbase Staking.
Staking coins has become one of the most widely accepted practices in the crypto universe, and it helps Proof-of-Stake coins to standardize their value through users validation transactions.
Learn more about this process by reading the article we wrote about it.
Unique Coinbase Pro Features
Coinbase Pro is mainly for trading, so if you want to learn about crypto, then this platform isn’t for you.
That being said, most of the features that can be found in this alternative are related to trading.
Don’t let this demotivate you, though - if you are a trader, you will definitely love Coinbase Pro enhanced features.
Advanced Crypto Trading
Users advanced charting, real-time market price, multi-trading options, customizable API keys… it’s amazing!
Coinbase Pro is a paradise for advanced traders.
It’s the definitive experience for those who want to go one step beyond in this amazing world.
Analyzing multiple overlays related to crypto prices will give you unmatching insights in order to craft a very good trading strategy.
However, we cannot stress this enough - you need to have general trading knowledge before being able to use all these features.
Otherwise, you will just feel overwhelmed with so many things going on on the screen at the same time.
Coinbase Pro or Coinbase: Which One Should You Choose?
Now that we have evaluated Coinbase and Coinbase Pro, it’s time to make a choice.
It’s not difficult to make a final statement: Coinbase Pro is for pros, and Coinbase is for everyone, even beginners.
So, before you decide to Transfer from Coinbase to Coinbase Pro, ask yourself the following questions:
Are you ready to unlock the full potential of crypto trading features? Will you become a daily trader with a well-crafted strategy that will take you to the moon?
Likewise, you might want to continue using Coinbase if you are not going to take advantage of all Coinbase Pro’s options.
The security features of both platforms are great, there are enough cryptos for trading, and you can dive deeply into the cryptocurrency universe without major problems.
Therefore, you are the master of your destiny.
That’s all for today! For more Coinbase information and how-to articles, you can always rely on GrowFollowing.
Coinbase vs. Coinbase Pro FAQ
What’s Coinbase’s Insurance Policy?
Coinbase USD cash funds are insured by the Federal Deposit Insurance Corporation (FDIC).
Coinbase takes the protection of all customers pretty seriously, which is why it’s important to find against crypto crimes that might take place on the platform.
If you want to learn more about Coinbase Insurance, we recommend you read the full information on the official Coinbase Insurance Website.
Are There Other Cryptocurrency Exchanges Alternatives?
Yes, there are - Coinbase is not the only exchange out there. For instance, Crypo.com and Binance are two great Coinbase alternatives.
When the moment to pick another exchange comes, you need to take into account many different factors that determine if the exchange successfully fits your needs.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.