Best Cryptocurrency Exchange App

Coinbase Pro Review 2022

Coinbase Pro Review 2022
Written by publisher team

Pros explained

  • User-friendly interface: The interface of Coinbase Pro is very intuitive and easy to use if you are familiar with other trading platforms.
  • Lower fees for higher volume trades: The platform offers relatively low factory and trader fees for larger-volume trades, making it a good choice for active traders.
  • Strong security features: Coinbase Pro is known for its powerful security features, including two-factor authentication, biometric fingerprint recognition, and more.
  • Advanced trading features: Coinbase Pro offers real-time charting tools with moving averages and exponential moving averages. It also allows you to view trade history, order book and price charts.


Cons explained

  • Support can be slow: Due to the large volume of Coinbase Pro users, obtaining 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 newbie might find it difficult to navigate.
  • Higher fees than other platforms: While Coinbase Pro offers lower fees than Coinbase, its fees are higher than other competitors.
  • Only two indicators and graphic overlays: While it offers more advanced charting features compared to Coinbase, the options are still limited to a couple of choices.


an introduction

Coinbase Pro offers 130+ assets available for trading, low fees for high volume trades, advanced order types, and an easy-to-use platform. Users also benefit from industry-leading security features designed to help protect their crypto holdings.

With a wide range of crypto assets and advanced order types, Coinbase Pro could be a great platform for experienced traders. However, beginners may find it difficult to use.

Although the cryptocurrency market has become more accessible and popular in recent years, it is still subject to significant price swings. It is best to invest only money that you can afford to lose.

Investing in cryptocurrency, decentralized finance (DeFi) and other initial coin offerings is fraught with risk and speculation, and the markets can be extremely volatile. Consult a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the author to invest in cryptocurrencies and the accuracy or timeliness of the information cannot be guaranteed.


Company Profile

Coinbase is owned by Coinbase Global, which launched the exchange in San Francisco in 2012. The parent company was founded by former Airbnb engineer Brian Armstrong. In addition to the original Coinbase platform, in 2017, the company launched the Global Digital Asset Exchange (GDAX), designed for active traders. Eventually, GDAX was renamed Coinbase Pro.

At the time of publication, Coinbase is available in over 100 countries and has over 73 million approved users. It is also ranked among the top cryptocurrency exchanges globally by traffic, liquidity, and trading volumes. In April 2021, Coinbase Global became the first US cryptocurrency exchange listed on a US exchange, and it is currently valued at around $86 billion.


Cryptocurrencies available on Coinbase Pro

Coinbase Pro users can buy, sell and trade more than 130 cryptocurrencies. Common assets supported by Coinbase Pro include:

  • Ethereum (ETH)
  • Litecoin (LTC)
  • Cardano (ADA)
  • Bitcoin Cash (BCH)
  • Excellent Lumens (XLM)
  • chainlink (link)
  • Uniswap (UNI)
  • Aave (AAVE)


Trading experience

Coinbase Pro users can log into their account through a desktop browser and an iOS or Android mobile app. Both desktop and mobile platforms offer similar features and options. Users can access real-time charting tools with moving averages and exponential moving averages, as well as trade history, order book and price charts. In addition, Coinbase Pro offers several types of orders, such as stop order, limit order, and margin order.

While the platform and trading experience may be ideal for experienced cryptocurrency traders, it can be confusing for beginners.


Outlay

Like many other cryptocurrency exchanges, Coinbase Pro charges fees for certain payment methods and trading fees. And although Coinbase Pro offers lower trading fees than Coinbase, its maker/custodian fees are still higher than many competitors in the industry. However, higher trading volumes result in discounts on fees.

Payment method or payment Coinbase Pro Fees
Bank account 0 dollars
US dollar wallet 0 dollars
Debit / Credit Card 0 dollars
ACH . conversion free
wire transfer Deposit $10, withdraw $25
Cryptocurrency exchange 0.50% to 2%

Pricing category Taking maker
<10 thousand dollars 0.50% 0.50%
10 – 50 thousand dollars 0.35% 0.35%
50 – 100 thousand dollars 0.25% 0.15%
100 thousand dollars – 1 million dollars 0.20% 0.10%
From 1 to 10 million dollars 0.18% 0.08%
10 – 50 million dollars 0.15% 0.05%
50 to 100 million dollars 0.10% 0.00%
100-300 million dollars 0.07% 0.00%
300-500 million dollars 0.06% 0.00%
$500 million – $1 billion 0.05% 0.00%
1 billion dollars + 0.04% 0.00%

Read the full Coinbase vs Coinbase Pro comparison for more information.


protection

Coinbase Pro offers industry-standard security features, cold storage, and FDIC insurance. Its security features include two-step verification, biometric fingerprint registrations, and AES-256 encryption for digital wallets. Coinbase also keeps 98% of customer funds stored offline in cold storage. The remaining 2% is kept online and backed by a Coinbase insurance policy, which may cover losses due to cybersecurity breaches.

In addition to its security features, all US dollar cash balances held in Cuinbase custodian bank accounts are protected by the Federal Deposit Insurance Corporation (FDIC) of up to $250,000 per individual.

While all accounts come with strong security features, you are responsible for creating a secure and strong password.


Open a Coinbase Pro account

If you want to create a Coinbase Pro account, there are two processes to follow depending on whether you are a new or existing Coinbase user.

New Coinbase User

  • Go to pro.coinbase.com
  • Select “Get started”
  • Complete the registration form, then click “Create Account”
  • Click on the verification link sent to your email address
  • After verifying your email address, you will be asked to provide a phone number
  • Decide if you want to create an “Individual” or “Corporate” account
  • Depending on the specific account type, you will need to provide information about yourself or your organization.
  • You have the option of linking your bank account so that you can fund your trading account in USD, GBP or EUR. You can also skip this step and fund your account with Bitcoin or Ethereum.

Current Coinbase User

  • Visit pro.coinbase.com
  • Click the “Login” button
  • Log in with your Coinbase.com email address and password
  • If you have already verified a phone number with Coinbase, you will be asked to enter a two-step verification code into Coinbase.
  • If you haven’t verified a phone number yet, you will be asked to enter one.
  • Depending on the verifications you have previously completed in your Coinbase account, you may be asked to verify your identity.
  • If Coinbase Pro supports trading in the local currency of your area (currently in USD, GBP or EUR), you will have the option to link your bank and fund your trading account. You can also skip this step and fund your account with Bitcoin or Ethereum.


Customer service

Coinbase Pro offers two different paths of support: email and Twitter. If users wish to receive an email regarding this support query, they will need to fill out a form on the Coinbase Pro website. Users can also get support through Coinbase Twitter account.

Phone support is only available to users who wish to close their Coinbase account. If you wish to close your account, you may call +1 (888) 908-7930.


customers satisfaction

Like many other cryptocurrency exchanges, Coinbase Pro receives mixed reviews from users. On Trustpilot, the platform receives an average of 2.1 out of 5 stars across nearly 70 reviews. Many users express frustration at not being able to access customer service, sometimes for up to months in a row. Others mentioned concerns about platform fees and account closures.

Coinbase issued a statement in January 2021 committing to improving the customer support experience, but getting someone to support in a timely manner remains a challenge.


Account management

Users can easily manage their account using the Coinbase Pro mobile app or desktop browser. The online dashboard allows users to view account balances, a real-time price chart, and an order form to buy, sell or trade cryptocurrencies. Users can also add payment methods or access customer service through the Settings tab.


How Coinbase Pro Compares To Other Cryptocurrency Firms

Coinbase Pro is a leading global cryptocurrency exchange. While it offers many positive features to users, its fees tend to be higher than competitors and its customer support options are limited. Here’s a look at how Coinbase Pro compares to another popular exchange, Binance:

Coinbase Pro vs Binance

Coinbase and Binance are two of the largest cryptocurrency exchanges in the world. However, while Coinbase Pro is available to US users, the global Binance platform is not; There are also some other important differences that you should be aware of:

  • For international users, Coinbase Pro supports fewer cryptocurrencies than the global platform Binance. For those in the US, Coinbase Pro offers more assets than Binance’s partner platform, Binance.US.
  • Binance offers more charting options and overlays than Coinbase Pro.
  • Coinbase Pro trading fees are higher than Binance.
  • Binance offers a reward program for keeping BUSD on its platform, but Coinbase Pro does not have a reward program yet.

Binance and Coinbase Pro both offer an advanced trading experience. Overall, Binance offers more options than Coinbase Pro to global users. But for US-based users, Coinbase Pro might be the better option due to Binance’s limited offerings in the US Additionally, Binance has a history of regulatory and security issues, while Coinbase Pro has a relatively good reputation when it comes to security. Given these concerns, Coinbase Pro might be the best option as well.

Final verdict

Overall, Coinbase Pro offers an excellent user experience, and it could be an ideal choice for active traders. Users can buy, sell and trade more than 130 cryptocurrencies, and the platform offers fee discounts for high volume trading. Additionally, Coinbase has a solid reputation for security and compliance, which makes it worth considering if account security is a concern for you.


methodology

Investopedia is dedicated to helping those interested in investing in cryptocurrency make informed and secure decisions. We are committed to providing our readers with unbiased reviews of the best cryptocurrency exchanges for investors of all levels.

Exchanges are only considered for review if they are safe, secure, liquid and either regulated by an appropriate agency or fully decentralized.


Investopedia requires writers to use primary sources to support their work. These include white papers, government statements, original reports, and interviews with industry experts. We also refer to original research from other reputable publishers where appropriate. You can learn more about the standards we use to produce accurate and unbiased content in our editorial policy.

  1. Queen Piece. Asset Directory. Received December 8, 2021.

  2. Queen Piece. “About – Coinbase.” Accessed December 8, 2021.

  3. New York times. “Coinbase Worth $86 Billion in Crypto ‘Landmark Moment’.” Accessed December 8, 2021.

  4. Queen Piece. Fee structure. Accessed December 8, 2021.

  5. Queen Piece. How is Coinbase secured? Accessed December 8, 2021.

  6. Trustpilot. “Pro Coinbase Reviews.” Accessed December 8, 2021.

  7. Binance. “The fee structure on Binance.” dec accessed. 8, 2021.

  8. Binance. “BUSD Rewards Program: Get more benefits from holding BUSD anywhere.” Accessed December 8, 2021.



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publisher team