Coinbase and Coinbase Pro fall under one company; Coinbase. They are some of the most popular cryptocurrency trading platforms that offer unique services. The Coinbase Pro is specifically designed for pro traders while Coinbase is designed for beginner, intermediate, and professionals. Let’s see how they compare.
Coinbase Vs Coinbase Pro: comparison table
|Platform features||Coinbase has an intuitive and beginner-friendly interface that allows for easy trading||It comes with an advanced user interface ideal for advanced users|
|Fees||Its charges are high with a trade attracting 0.50% flat rate. Credit card purchases attract 3.99%, bank account and wallet attract 1.49%||Its charges range from 0.00% to 0.50%|
|Cryptocurrencies||It supports up to 51 cryptocurrencies||It supports up to 52 cryptocurrencies|
|Transactions supported||Buy, sell, send, and receive||Receive, buy, sell, stop order, limit order, trade, deposit, withdraw|
|Security||Two-factor authentication, FDIC insurance, AES-256 encryption, biometric logins, cold storage||Two-factor authentication, biometric fingerprint logins, AES-256 encryption, FDIC insurance, cold storage|
|Maximum trading amount||Varies depending on the type of deposit and area of residence||Unlimited|
Coinbase VS Coinbase Pro: usability
Coinbase is designed with novice traders in mind. It is easy to navigate and placing orders is a walk in the park. Its design is intended to give beginner traders a platform where they can start trading cryptocurrency. Besides, it has a user-friendly and minimalistic mobile app making it easy to trade on the go.
Coinbase signing up process is also easy. All you need to provide is your basic information, from here, you’ll go through a simple verification process. With that done, you can connect your credit card or bank account hassle-free.
On the other hand, Coinbase pro can be intimidating to novice traders. This is because it is specifically designed for professional traders. With live chats, order options, and other complex features, a beginner can feel overwhelmed. However, if you are a versed trader, you’ll love the many features Coinbase Pro offers you.
And to sign up for a Coinbase Pro account, you’ll need to have an active Coinbase account. You can access both accounts using the same login details.
Coinbase Vs Coinbase Pro: security
Well, Coinbase as a company is hailed for its unmatched security, and as expected, both platforms offer you much-needed security for your assets. Here are the available options:
The two-factor authentication security feature has cut down on a lot of fraud on cryptocurrency platforms. If you want to use it, you can use the Google Authenticator app or send a text message. For safety, this is how to login and trade.
They have digital wallets where you can keep your money. Coinbase and Coinbase Pro both have these wallets. They are easy to use and get to, and you don’t need to use your login information to get to them. To make sure they’re safe, they come with a 12-word recovery phrase.
Cryptocurrency exchanges: These are the only ones that keep your money in cold storage. Your crypto assets are only stored on the internet 2% of the time. Almost all of them are kept in a physical storage area. You don’t have to worry about your money and other things being stolen by hackers and other people.
Using Coinbase or Coinbase Pro gives you the confidence that your money is safe because they have a very strong insurance policy. It is insured by the Federal Deposit Insurance Corporation (FDIC) for deposits of up to $250,000, which is a lot of money. If you have crypto assets, this doesn’t protect them. Instead, it only protects your money.
Coinbase Vs Coinbase Pro: currencies
Both Coinbase and Coinbase Pro allow you to trade with more than 40 currencies. Some of the most common include EUR, USD, and GBP. Both Coinbase platforms support some of the most popular cryptocurrencies such as Bitcoin.
While Coinbase offers Bitcoin Satoshi Vision (BSV), it does not offer Loom Network and Golem (GNT), which you can find on Coinbase Pro. However, Coinbase Pro does not support BSV.
You can buy crypto in dollar amounts with Coinbase having a minimum order of $2 while Coinbase Pro has no minimum amount. Some of the common cryptocurrencies include:
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Uniswap (UIN)
- Litecoin (LTC)
In fact, both Coinbase platforms outshine platforms such as Gemini in their crypto offering.
Coinbase Vs Coinbase Pro: features
Both platforms come with features that allow for straightforward buying of cryptocurrencies. However, there are some distinct features in both. Let’s look at them:
Coinbase comes with robust education resources helping beginners to start trading right away. These resources can be found on their web platform and mobile app. Here, you can find textual and video tutorials that walk you through crypto trading. And if you pass the provided tests, you are awarded small bonuses.
With Coinbase, you can enable price alerts for different cryptocurrencies. With push notifications, you can get alerts even when you are not using the app.
Coinbase has a news feed so that you can stay up to date on what’s going on in the cryptocurrency world. The site has a lot of different things, like breaking news, predictions, and more.
Coinbase Pro Live charts show how the prices of coins are moving.
Coinbase Pro, like forex trading, lets the user see charts. One minute, 15 minutes, or 30 minutes can be set here. It shows you the moving averages so that you can make smart decisions about how to spend your money.
Keys for APIs
API keys let you use Coinbase Pro with other apps. They also let you use Coinbase Pro with other apps.
Price charts, order books, and trading history are some of the other things Coinbase Pro comes with. Coinbase only lets you sell, buy, send, and receive money. To use Coinbase Pro, you can make margin orders, limit orders, and stop orders, as well as other things.
Coinbase Vs Coinbase Pro: fees
Both platforms charge different fees depending on how you choose to trade. However, Coinbase is more lenient because it is for people who are just starting out. If you want to save money or trade more frequently, it’s worth considering the fees.
Coinbase charges a fee of 0.05 percent for the majority of transactions. Also, the type of account that you have will affect the fees. If you have a U.S. bank account, you’ll pay an extra 1.49 percent. If you have a Coinbase USD wallet, you’ll pay an extra 1.49 percent.
If you want to pay with a debit or credit card, you’ll have to pay an extra 3.99%. People can send money using an ACH transfer and deposit money in dollars for free. People who want to take money out of their cards right away have to pay 1.5%.
As you can see, it can be very pricey to buy and sell crypto coins. In fact, most traders buy and store their crypto assets there.
Coinbase Pro charges less because most of the traders are active. It also gives discounts based on how many trades you make. It charges a fee that ranges from 0% to 0.50% depending on how much you pay.
You should keep in mind that Coinbase Pro doesn’t allow you to use debit or credit cards when you sign up. You can only use your wallet, your bank account, or a wire transfer to pay for your things.
Coinbase Vs Coinbase Pro: pros and cons
- Beginner-friendly: it allows new traders to learn the ropes of crypto trading.
- Price alerts: you can get prompt alters on cryptocurrencies price changes.
- Robust security: it offers 2-factor authentication preventing other people from accessing your account.
- It is available in most countries
- You can withdraw via PayPal and use your credit and debit card.
- Its fees are higher compared to Coinbase Pro.
- You have no control over the private keys.
- Coinbase tracks your trades.
Coinbase Pro: pros
- It offers the user more trading options
- The fees per transaction are relatively lower compared to Coinbase
- Offers advanced trading features.
- Cold storage and two-factor authentication
Coinbase Vs Coinbase Pro: FAQ
Are both of them safe?
Yes, Coinbase and Coinbase Pro are safe places to trade. They allow you to use two-step authentication and a biometric fingerprint login. Most of your crypto assets are kept in cold storage on this platform, which is different from other platforms. Your assets are FDIC-insured.
Can I move money from Coinbase to Coinbase Pro, and vice versa?
Do you know how to move your cryptocurrencies between the two? However, keep in mind that each person has a different type of purse.
Is it a good idea to use the digital wallet?
If you want to keep your money safe, Coinbase is one of the best places to store money. From biometric fingerprint login and two-factor authentication, you can be sure that your money and other things are safe. Besides, you can use it on other things.
Should I use Coinbase or Coinbase Pro?
Coinbase is a good place to start if you are new to crypto trading. It has an easy-to-use interface that makes it simple to buy and sell cryptocurrencies. You also get a lot of text and video tutorials on how to use cryptocurrency.
Coinbase Pro is for people who are more advanced. If this is you, don’t be afraid to set up an account. Here, you can see charts, trade history, and order books. It doesn’t matter which platform you choose if you want to start trading or learn how to trade better.
Good analysis between the two. When people figure out there is use for crypto after all, then things will really pick up and adaption will be the norm.