Coinbase Pro is the fastest, most trusted way to trade cryptocurrencies. This Coinbase Pro exchange review is an up-to-date, detailed analysis of Coinbase Pro, containing everything you need to know about Coinbase Pro and whether it’s the right exchange for you.
Let’s find out!
Coinbase Pro review
Coinbase Global, which launched its exchange in San Francisco in 2012, owns Coinbase. Brian Armstrong, a former Airbnb engineer, founded the parent company.
In addition to its original Coinbase platform, the company launched the Global Digital Asset Exchange (GDAX) in 2017, which is aimed at active traders. GDAX was eventually renamed Coinbase Pro.
Coinbase Pro offers crypto-to-native currency trading pairs in the United States (USD), the European Union (EUR), and the United Kingdom (GBP). Additionally, the exchange supports crypto-to-crypto trading pairs in over 100 countries and has over 75 million verified users.
Coinbase Pro provides over 130 tradeable assets, low fees for high-volume trades, advanced order types, and a user-friendly platform. Users can also take advantage of industry-leading security features designed to help them protect their cryptocurrency holdings.
It has also ranked among the top cryptocurrency exchanges in the world in terms of traffic, liquidity, and trading volumes. Coinbase Pro, with its large selection of crypto assets and advanced order types, could be an excellent platform for experienced traders. Beginners, on the other hand, may find it difficult to use. Find out more in this Coinbase pro exchange review.
Coinbase Pro exchange review: What is Coinbase Pro?
Coinbase Pro is a digital currency exchange that provides professionals and institutions with the ability to trade with some of the world’s most popular digital assets.
This platform caters to high-volume and experienced traders rather than beginners. It provides advanced trading options such as stop-loss and limit orders, as well as good until canceled orders.
According to our Coinbase Pro reviews, this exchange is the most liquid and offers advanced trading features, multiple deposit options, and competitive fees. It also provides leverage of up to 500:1, giving investors the opportunity to make more money.
Pros and Cons of Coinbase Pro
Pros
- User-friendly interface: Coinbase Pro’s interface is intuitive and user-friendly if you’re familiar with other trading platforms.
- Lower fees for higher volume trading: The platform offers relatively low maker and taker fees for higher volume trades, making it a good option for active traders.
- Advanced trading features: Coinbase Pro offers real-time charting tools with moving averages and exponential moving averages. It also allows you to view your trade history, order book, and price charts.
- Regulated: Coinbase Pro is fully licensed and regulated in the U.S. and other supported countries. As a result, Coinbase Pro users must pass strict Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.
- No deposit and withdrawal fees for cryptos: Coinbase Pro doesn’t charge any fees for crypto deposits and withdrawals.
Cons
- Support can be slow: Because of the high volume of Coinbase Pro users, getting a hold of support can be difficult.
- The Platform is not designed for beginners: Coinbase Pro is designed for experienced traders. With advanced features and more complex trading options, a beginner may find it difficult to navigate.
Coinbase Pro exchange review: Why use Coinbase Pro
Coinbase Pro is the fastest, most trusted way to trade cryptocurrencies. The app is built for advanced crypto traders with all the necessary info and tools to trade on the go. Some of the Coinbase Pro benefits include:
- Real-time candles, depth chart, order book
- Limit and market orders
- Advanced order form
- Orders and portfolio overview
- Native currency and crypto deposits/withdrawals
- Make a trade in seconds.
- Fees range from 0 – 0.5% depending on your trading volume and order type.
Coinbase Pro exchange review: How to get Coinbase Pro
According to this Coinbase Pro exchange review, to get Coinbase Pro, you can start by visiting the official Coinbase Pro website and signing up for an account. The platform also has applications for both Android and iOS devices. To get Coinbase Pro, you can also download its application and sign up for an account to get access to and explore all of Coinbase Pro.
How does Coinbase Pro work
To trade with Coinbase Pro, the user must first create an account on the platform. The user must provide their full name, email address, and a strong password in order to create an account. They must confirm the phone number after verifying the email address in order to set up a two-step verification process.
When the account is created, US customers must provide a social security number, while Coinbase Pro users from other countries must provide any other form of identification. When finished, the user must enter their debit card, credit card, or bank account information.
After depositing funds, users can begin trading. They can purchase a variety of crypto coins in small or large amounts, as well as a variety of altcoins. Users can also preview their purchase and view the Coinbase fee, price, and payment method on the screen. After selecting the cryptocurrency and reviewing the other details, the user must click the “buy” button to complete the transaction.
Coinbase Pro exchange review: How to add Funds to Coinbase Pro
Customers in the United States who live in a state where Coinbase provides service can fund their Coinbase accounts with USD via bank wire or ACH transfers. Prior to transferring funds from your bank, you must verify your US bank account. Verify your US bank account using the following steps below:
- Open the trading view at pro.coinbase.com/trade
- On the left-hand column under Wallet Balance, select the Deposit option
- In the Currency Type field, select USD
- Select the Bank Account tab, then select From, then select Add Account
- You will be redirected to Coinbase.com to complete the bank account verification process.
Adding Funds to Coinbase Pro from your U.S. Bank Account (Bank Wire)
Coinbase Pro wire transfers are also available to customers who have access to USD-denominated order books. Below are the steps to add funds to your Coinbase Pro account:
- Open the trading view at pro.coinbase.com/trade
- On the left-hand column under Wallet Balance, select Deposit
- In the Currency Type field, select USD
- Select the Wire Transfer tab. Follow the on-screen instructions—you will need to initiate a wire transfer from your bank account to your Coinbase Pro account
- You’ll be presented with instructions that provide either a personal account number or a unique reference code (you don’t need both) for initiating a wire transfer from your bank account
Note: The name on your bank account must match the legal name on your Coinbase Pro account for the wire to be accepted.
Coinbase Pro exchange review: How to buy on Coinbase Pro
Buying on Coinbase Pro entails creating a market order for the specific asset you would like to purchase. A market order will be executed at the best available current market price right away.
To place a market order:
- Select the MARKET tab under the Orders Form section of the Trade View
- Choose Buy or Sell and enter the size of your order. You can set the size of the crypto you’d like to buy. I.e., selecting Buy and entering 200 as the amount, then setting the units to US dollars will buy two hundred dollars worth of the digital currency you have selected at the market price.
- Then you can finally Confirm the order.
Note: Market orders cannot be canceled because they are filled immediately.
Coinbase Pro exchange review: Coinbase Pro Fees
Coinbase Pro trading fees are calculated using the maker-taker fee model. When you place an order at the market price and it is filled immediately, you are considered a taker and will be charged a fee ranging from 0.05% to 0.60%.
When you place an order that isn’t immediately matched by another order, it’s added to the order book. If another customer places an order that is identical to yours, you are considered the maker and must pay a fee ranging from 0.00% to 0.40%.
When you place an order that is immediately partially matched, you must pay a taker fee for that portion. The remainder of the order is placed on the order book and is considered a maker order if it is matched. This remaining portion of the total order is subject to a maker fee. The Coinbase Pro Fees structure is explained in the table below.
| Pricing Tier | Taker Fee | Maker Fee |
|---|---|---|
| $0 - $10K | 0.60% | 0.40% |
| $10K - $50K | 0.40% | 0.25% |
| $50K - $100K | 0.25% | 0.15% |
| $100K - $1M | 0.20% | 0.10% |
| $1M - $15M | 0.18% | 0.08% |
| $15M - $75M | 0.16% | 0.06% |
| $75M - $250M | 0.12% | 0.03% |
| $250M - $400M | 0.08% | 0.00% |
| $400M+ | 0.05% | 0.00% |
Coinbase Pro Deposit and Withdrawal Fees
Coinbase Pro doesn’t charge any deposit or crypto withdrawal fees.
Coinbase Pro Fiat Deposit and Withdrawal Fees
With fiat, you can instantly deposit into your Coinbase Pro account in no time. The table below displays Coinbase Pro deposit and withdrawal fees.
| Fiat Currencies | Deposit Fee | Withdrawal Fee |
|---|---|---|
| ACH | Free | Free |
| Wire (USD) | $10 USD | $25 USD |
| SEPA (EUR) | €0.15 EUR | €0.15 EUR |
| Swift (GBP | Free | £1 GBP |
Coinbase Pro App
Coinbase Pro Exchange has a mobile app built for professional traders. It is an advanced application with an intelligent and intuitive user interface, making it a highly effective tool that combines all of the characteristics of modern centralized cryptocurrency exchanges into one platform.
The Coinbase Pro mobile app has over 1,000,000 downloads on the Google Play Store. It is also built with support for Android and iOS users. The Coinbase Pro app has also accumulated a pool of mixed user reviews on its app with a 3.3 ⭐ rating. Below are some of the reviews from users of the Coinbase Pro app.
Coinbase Pro Sign up
- To begin Coinbase Pro sign-up, first off visit Coinbase Pro official Website.
- Then input your account details, including your name and email address. A mail will be sent to you to verify your email address.
- After verifying your email address, you’ll be prompted to enter your phone number. Please provide a mobile number as you’ll be required to verify the phone number via SMS.
- Depending on which region you’re in, you’ll be asked to provide certain information like your name, date of birth, address, intent, source of funds, occupation, and employer.
Note: Have your government-issued ID available, as you will be asked to upload or take a photo of it. Also, US and UK customers will need to complete an ID verification for documents and an ID verification for a profile.
All other customers will need to verify two IDs of different types. Passports, driver’s licenses, or government-issued ID cards are acceptable forms of ID; health cards and student IDs are not accepted.
Coinbase Pro KYC
Coinbase Pro is a separate service offered by Coinbase that requires two forms of ID verification. According to our research, using the Coinbase mobile app is the best option if you’re having trouble verifying your ID on Coinbase Pro.
Any ID verification done on your Coinbase account will automatically apply to your Pro account. 90% of customers are able to resolve issues with ID verification by using the Coinbase mobile app and the camera on their mobile phones.
- Sign in to your Coinbase account or access the Coinbase mobile app.
- Access the Document Verification prompt by going to Settings, then click on “Identity Verification.”
- Select your preferred identity document type and upload method.
- Make sure you carefully follow the on-screen instructions then select Upload.
- You’ll receive an email confirmation when the verification has been completed.
- Once you verify your ID, you may link a bank account or select Start Trading to skip this step for now.
Coinbase Pro API
The trading platforms used by different exchange platforms differ in terms of customization, user interface simplicity, navigation, and design. This is due to the fact that different exchange platforms develop their trading platforms using a variety of criteria.
Regardless of the differences, a good trading platform should be user-friendly, easy to navigate, and include essential trading tools in its API. Coinbase Pro API Docs is a documentation section equipped with interactive API tools.
How to use Coinbase Pro API
An Exchange account is required in order to access the API. Coinbase Pro exchange APIs are separated into two categories:
- Trading data: Trading APIs require authentication and provide access to placing orders and other account information.
- Market data: Market Data APIs provide market data and are public.
Coinbase Exchange operates a continuous first-come, first-serve order book. As soon as the matching engine receives an order, it is executed in price-time priority.
You can check out this great article on Crypto Order Book Explained.
Coinbase Pro API example
User A places a buy order for 1 BTC at 100 USD. Then User B places a sell order for 1 BTC at 80 USD. The result is that the trade occurs at 100 USD because User A’s order was first to the trading engine, and User A has price priority.
Coinbase Pro exchange review: Coinbase Pro Wallet
Coinbase Pro wallet unlocks the world of crypto by making life on the blockchain simple and secure. With support for hundreds of thousands of tokens and dapps, you can explore the decentralized web on your phone or browser on the go with industry-leading security to protect your digital assets.
Features of the Coinbase Pro Wallet include:
- Supports every ERC-20 coin: The Coinbase Pro Wallet is compatible with a huge range of decentralized applications and tens of thousands of coins. As an investor, the wallet can help you diversify your investment options.
- Non-custodial Wallet: Coinbase Pro Wallet, a non-custodial cryptocurrency wallet that gives you control over your coins, keys, and funds, is a self-custodial cryptocurrency wallet. Your rare NFTs and cryptocurrency can now both be safely stored in one location.
- Explore DeFi with confidence: Coinbase Pro Wallet is your passport to the decentralized web. Utilize DeFi’s power to increase yield, your NFT collection, and many other things.
- The easiest way to get from cash to NFT: You can fund your Coinbase Pro Wallet and begin your NFT collection with just a few taps or clicks thanks to support for purchasing cryptocurrency with credit or debit cards in more than 90 countries.
Transfer from Coinbase to Coinbase Pro
With this Coinbase Pro exchange review you’ll understand how to transfer funds from your Coinbase wallet to your Pro wallet, follow these steps:
- Go to the Coinbase Pro trading page.
- Select Deposit under Wallet Balance (a pop-up window will appear).
- Select the currency type (i.e. BTC, ETC) that you’d like to add cash to Pro from Coinbase.
- Select Coinbase Account.
- Enter the amount you would like to add cash to Pro from Coinbase. Please note that you will only be able to add funds that are “Available to deposit”.
- Select Deposit at the bottom of the window.
Coinbase Pro exchange review: Coins on Coinbase Pro
This Coinbase Pro exchange review shows that Coinbase Pro has over 130 cryptocurrencies to trade. Coinbase Pro Coin list includes:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- EOS (EOS)
- Tezos (XTZ)
- Stellar (XLM)
- Ethereum Classic (ETC)
- Chainlink (LINK)
- Augur (REP)
- 0x (ZRX)
- Basic Attention Token (BAT)
- Algorand (ALGO)
- Dash (DASH)
- Dai (DAI)
- USD Coin (USDC) and more
Coinbase Pro Customer Service
Coinbase Pro support is available via two channels: email and Twitter. Users who want to receive an email regarding this support inquiry must fill out a form on Coinbase Pro’s website. Users can also seek assistance from the Coinbase Twitter account.
Phone support is only available to Coinbase users who want to close their accounts. You can close your account by calling +1 (888) 908-7930. Coinbase Pro also has a comprehensive FAQ section on its website that answers several frequently asked questions by users.
Is Coinbase Pro legit?
This Coinbase Pro exchange review displays its security features like providing industry-leading security, cold storage, and FDIC insurance. Two-step verification, biometric fingerprint logins, and AES-256 encryption for digital wallets are among its security features.
Coinbase also keeps 98% of its customers’ funds in cold storage. The remaining 2% is stored online and protected by Coinbase’s insurance policy, which may cover losses resulting from cybersecurity breaches.
In addition to its security features, the Federal Deposit Insurance Corporation (FDIC) insures all USD cash balances held in Coinbase’s custodial bank accounts up to $250,000 per individual. While all accounts have robust security features, it is your responsibility to create a secure and strong password.
Coinbase Pro exchange review: Conclusion
According to this Coinbase Pro exchange review, Coinbase Pro provides an excellent user experience and could be an excellent choice for active traders. Users can trade a cryptocurrency pool, and the platform charges low fees for high-volume traders.
Furthermore, Coinbase has a good reputation for security and compliance, offering robust security measures such as FDIC insurance to protect users’ money from cyber attacks, making it worth considering if account security is a concern for you.
It has millions of users worldwide, and the platform’s trading interface is simple, with trading charts powered by real-time data for a seamless experience. For experienced and high-volume traders, Coinbase Pro is the best option.
