Here’s a look at what separates the two versions of Coinbase.
Coinbase and Coinbase Pro have become the leading cryptocurrency exchanges well versed in hassle-free crypto transactions, but what is the difference between the two?
While Coinbase offers a limited but copious amount of facilities to easily navigate crypto procedures, Coinbase Pro, on the other hand, offers additional facilities in terms of security features, the amount of alleged cryptocurrencies it offers a much more comprehensive domain to work with.
While accessing Coinbase can be extremely useful for budding investors, Coinbase Pro can offer a broad portfolio of services to both investors. So, with users able to transfer between Coinbase and Coinbase Pro, let’s take a look at some important points that make these two platforms unique and special.
COINBASE AND COINBASE PRO – KEY DIFFERENCES
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 exchange cryptos using their debit and credit cards, and can access a crypto watchlist to keep track of upcoming new crypto coins.
In terms of security, Coinbase offers limited services comprising 2FA through the Google Authenticator application. The platform also offers cold storage and a multi-signature wallet facility.
In terms of transactions, Coinbase offers its users the ability to buy, sell and exchange crypto tokens, with complementary services including send, receive, deposit and withdraw.
Coinbase Pro has been marketed as a platform that essentially caters to more professional investors, offering professional trading services and interfaces. The platform also offers multiple types of orders and services, including advanced charting and analytics.
In terms of security, Coinbase Pro is credited as a largely robust platform. It has several 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.
When it comes to Coinbase Pro transactions, the platform offers additional services such as Withdrawal, Stop Order, Limit Order and Time in Force 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 to calculate user transaction fees. Coinbase Pro, which focuses more on smaller transaction fees, charges flat fees at various levels up to $205, before charging a flat fee of 1.49% 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 is the full breakdown.
Coinbase’s trading fee breakdown is listed below:
Up to $10: $0.99
Above $10 to $25: $1.49
Above $25 to $50: $1.99
From $50 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%
More than $2,000,000,000,000 – 0.04% – 0.04%.
SHOULD YOU TRANSFER FROM COINBASE TO COINBASE PRO?
While Coinbase Pro certainly comes with its own set of benefits and advantages, it is often up to a user to decide if they 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, but more limited crypto services, then Coinbase is the best platform to begin their crypto journey.