Features
Coinbase and Coinbase Pro offer a wide range of services for different types of users, with Coinbase tailored to first-time investors and Coinbase Professional geared toward busy traders. You'll receive the following benefits if you sign up for either:
The Coinbase website also provides a mobile app for each account type, which is similar to the web browser version. A hot wallet with multi-coin support and methods to earn Bitcoin is available from the Coinbase platform. To use the digital wallet, you don't need to be a Coinbase user.
Availability: The system is available in over 100 countries, with certain limitations. For example, if you live in Hawaii, you cannot utilize the platform, but you can't sell on it in Mexico. User education: The knowledge base of video lessons, how-to articles, and market updates on the site provides useful information.
Coinbase Pro has more advanced features for seasoned traders. Moving averages and exponential moving averages are included in real-time charting tools, which makes it easy to use. You can also see your trade history, order book, and price charts. Coinbase offers buy, sell, send, and receive transactions.
Supported Currencies
Coinbase and Coinbase Pro both offer support for fiat currencies like USD, GBP, and EUR. Furthermore, you can choose from over 50 alternative coins on both platforms. There are some differences between the services, with Coinbase offering Bitcoin Satoshi Vision (BSV) whereas Coinbase Pro does not support Golem (GNT) or Loom Network (LOOM).
Both types of accounts can be used to store and trade popular cryptocurrencies including: Ethereum (ETH) Litecoin (LTC) Cardano (ADA) Bitcoin Cash (BCH) Stellar Lumens (XLM) Chainlink (LINK) Uniswap (UNI) Aave.
Coinbase and Coinbase Pro provide a greater selection of cryptocurrencies than Gemini, which is a digital currency exchange. Binance, on the other hand, surpasses some of the top crypto exchanges.
Security
Coinbase Pro and Coinbase offer the same level of security as the platform. Furthermore, in a move that distinguishes it from an initial public offering (IPO), the cryptocurrency exchange announced this week that it had applied for a direct listing, which sells stock shares to the general public. 1 The cryptocurrency exchange's safety and protection measures are just as advanced.
The Federal Deposit Insurance Corporation (FDIC) insures all USD cash balances up to $250,000 per person. The exchange is transparent about the security measures it offers for trading on the site or using the mobile app.
Coinbase keeps 98 percent of client funds in offline vaults or safe deposit boxes, known as "cold storage." The remaining 2% is kept online thanks to Coinbase's insurance coverage, which covers any losses incurred due to cyber breaches at Coinbase's facilities.
All accounts include two-factor authentication (2FA) and biometric fingerprint logins. AES-256 encryption is used to encrypt the digital wallets and private keys. Of course, you are responsible for creating a secure and strong password. You may also choose to keep your money on Coinbase Pro by storing it in your personal offline cold storage with Coinbase Pro.
Fees
Coinbase Pro and Coinbase differ in cost structures, with Coinbase being more expensive and difficult to use. The maker-taker model is used by Coinbase Pro, which costs less. “The base rate for all purchase and sale transactions in the United States is 4%," according to Coinbase. However, fees vary depending on your location and payment method.
Coinbase charges a steeper fee for either a fixed rate or a variable price depending on the payment method. Coinbase Pro has tiers, with lower costs associated with larger dollar amounts. For example:
Take fees are 0.50% for transactions less than $10,000 and 0.50% for transactions greater than $10,000.
FeesCoinbase: Coinbase ProBank account fees1.49%nWallet fees1.49%nDebit/credit cards2%nACH transactionsnFree wire transfert$10 deposit, $25 withdrawaltCrypto conversion 0.50% to 2%, nFeesCoinbase: Coinbase fee 0.99 to 2.99 based.
Trading on the Coinbase Pro platform or paying money out of your bank account or digital wallet are two ways to avoid access fees. Although the Coinbase costs are comparable to other exchanges, they can quickly mount up.
If you spent $200 on bitcoin on Coinbase, you'd pay whichever is greater: the flat rate fee or a percentage amount based on the payment method. If you paid via credit card, for example, you would pay 2 percent (more than the $2.99 flat charge). You'll pay a 0.50 percent fee on your $100.
Ease of Use
You won't need to download anything to start using Coinbase or Coinbase Pro; all features are available via a web browser. Both versions come with a user-friendly mobile app. Because it supports only buying and selling, you can use the app or the web browser to invest right away. Coinbase Pro may appear intimidating at first since it offers more information.
The platform is simple to use, even if you don't know much about cryptocurrencies. However, after you get the hang of it, it's pretty straightforward. The extra trading functions allow users a lot more possibilities, making it better for crypto traders that are familiar with the market.
FAQs
What are Coinbase and Coinbase Pro, and what do they do? Coinbase Global Inc's leading cryptocurrency exchange platforms, founded in 2012, are called Coinbase and Coinbase Pro. With a virtual wallet like the one offered by Coinbase, you can buy and sell cryptocurrencies through an exchange similar to that of Coinbase Pro.
Coinbase is popular among beginners because it's simple to purchase and sell cryptocurrency. Users won't have to learn investing jargon. Instead, they may simply go on the platform and begin trading. Coinbase Pro is preferred by traders who want to utilize a variety of trading options. The Coinbase Pro platform is also simple to use, so novices can get started.
The Coinbase digital wallet is a mobile app that runs on iOS and Android devices. You don't need to use the Coinbase exchange to trade cryptocurrencies. The keys for the Coinbase Wallet are kept on your phone, allowing you to maintain control of your crypto assets. Digital tokens and digital collectibles may also be stored with the Coinbase Wallet.
The Coinbase Wallet uses two-factor authentication, making it a safe option. Furthermore, it allows you to manage cryptocurrencies from other wallets. You may choose from a list of third-party wallets, input your 12-word passphrase, and then access your funds. However, to discover an choice that works best for you, read the top Bitcoin wallets.
Coinbase and Coinbase Pro provide simple mobile apps, while Coinbase is geared toward those unfamiliar with cryptocurrency. Because of its simplicity, it restricts your transaction categories to maintain your choices limited. If you want more sophisticated investing alternatives, Coinbase Pro is the place to go. Despite being easy to use, the various options might be bewildering.
How We Evaluated Coinbase
We compared Coinbase and Coinbase Pro by evaluating the number of features, such as trade types, purchasing and cash-out options, and supported currencies. We also evaluated the overall ease of use in a web browser and on mobile apps. The fee structure and security levels for both account kinds were also taken into account.
