Whereas the usual Coinbase app is a superb place for freshmen, the charges are excessive and buying and selling instruments are missing. If you’re an skilled crypto dealer in search of an trade with deep liquidity, superior buying and selling instruments, and a simple-to-use cellular app, Coinbase Professional could also be an excellent match.
Coinbase Professional is a cryptocurrency buying and selling platform geared toward skilled merchants that gives entry to a whole lot of cryptocurrency. With a number of order varieties, superior charting, low charges, and a variety of crypto buying and selling pairs, Coinbase Professional helps high-volume merchants maintain prices low whereas offering the instruments anticipated of an expert buying and selling platform.
We’ve reviewed the Coinbase Professional platform and might help you consider the buying and selling instruments, safety, charges, options, and every thing else it is advisable know to determine if Coinbase Professional is for you.
What’s Coinbase Professional?
Coinbase Professional is a cryptocurrency trade primarily based within the U.S. that’s an offshoot of the Coinbase platform.
Learn extra: Coinbase evaluation: nonetheless only for newbies?
Based in 2015 by Coinbase founders Brian Armstrong and Fred Ersham, Coinbase Professional was often called the “Coinbase Change,” then later GDAX (for World Digital Asset Change). In 2018, it was renamed Coinbase Professional, and has continued so as to add digital property to the platform.
Coinbase Professional is an extension of Coinbase, and customers can login to Coinbase Professional with the identical login data as the principle platform. However Coinbase Professional does have its personal digital pockets and buying and selling platform, and can often carry cryptocurrencies that aren’t out there on the principle Coinbase platform.
Coinbase Professional is an honest trade for superior crypto merchants trying to actively commerce, however new buyers could wrestle to make use of the platform in any respect.
How does Coinbase Professional work?
You’ll be able to join a Coinbase Professional account utilizing an electronic mail tackle and a password, which will likely be shared with the usual Coinbase platform.
![](https://www.moneyunder30.com/wp-content/uploads/2022/05/coinbase_pro_signup.jpg)
Supply: Coinbase Professional, screenshot by Jacob Wade
After verifying your electronic mail tackle, you will want to allow two-factor authentication, in addition to confirm your identification to start utilizing the platform. This entails sharing the next data:
- Full identify.
- Deal with.
- Identification quantity (comparable to SSN).
- Image of a photograph ID (like your driver’s license).
When you create an account and confirm, you may fund it by depositing fiat foreign money (comparable to U.S. {dollars}) or cryptocurrency. To deposit fiat foreign money, you should use ACH or wire switch, and to deposit crypto you will want to switch it out of your digital pockets on to the Coinbase Professional pockets tackle listed.
Warning: Be certain to deposit to the actual tackle listed, as sending the flawed crypto to the flawed tackle will lose it perpetually.
As soon as your account is funded, you may start buying and selling. Coinbase Professional presents a big selection of cryptocurrencies, with a whole lot of buying and selling pairs out there.
![](https://www.moneyunder30.com/wp-content/uploads/2022/05/coinbase_pro_dashboard.jpg)
Supply: Coinbase Professional, screenshot by Jacob Wade
Coinbase Professional charges
Coinbase Professional presents affordable buying and selling charges, and no charges for crypto deposits. Most fiat deposits are free, however there are charges related to wire transfers.
Right here’s a fast breakdown of the charges on Coinbase Professional:
Transaction | Charges |
---|---|
Crypto deposit | Free |
ACH switch | Free |
Wire switch | $10 deposit, $25 withdrawal |
Buying and selling charges | 0.00% – 0.60% (maker/taker) |
Buying and selling charges
Coinbase Professional makes use of a maker-taker price mannequin, with maker charges being charged when your commerce order just isn’t matched instantly, and taker charges are charged when your order is matched towards an order already on the order guide.
Listed below are the fundamental charges for buying and selling on Coinbase Professional. A full breakdown of Coinbase Professional buying and selling charges may be discovered on the Coinbase Professional web site.
30-day buying and selling quantity | Taker price | Maker price |
---|---|---|
$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 – 20M | 0.18% | 0.08% |
$20M – 100M | 0.15% | 0.05% |
$100M – 300M | 0.10% | 0.02% |
$300M – 500M | 0.08% | 0.00% |
$500M+ | 0.05% | 0.00% |
Coinbase Professional options
Coinbase Professional is geared toward skilled merchants, providing superior buying and selling options and low charges. Listed below are a number of of the standout options of the platform:
Coinbase Professional buying and selling platform
Coinbase Professional presents a streamlined buying and selling platform for energetic crypto merchants, with superior charting, dwell order books, and a number of order varieties (market, restrict, and stop-loss). There are over 160 crypto supported on the platform, and buying and selling is completed in pairs (comparable to USD – BTC).
Buying and selling is pretty simple, as you may choose which crypto pair you wish to commerce, set a restrict or market order, and execute the commerce. You may as well add in 12- and 26-day transferring common overlays to the chart, and change between both candle or line charts. Total, the platform presents simply sufficient to appease skilled merchants, however not all the bells and whistles of another superior buying and selling platforms (comparable to FTX.us).
Crypto choice
Coinbase Professional presents entry to over 160 cryptocurrencies, with extra being added regularly. Whereas this isn’t the biggest choice for a crypto trade, it’s greater than exchanges like Gemini and FTX.us. The preferred cryptocurrencies can be found, comparable to Bitcoin and Ethereum, and Coinbase Professional additionally presents some “up-and-coming” crypto like ApeCoin (APE) and Avalanche (AVAX).
Learn extra: 8 options to Bitcoin
Along with the crypto choice, Coinbase Professional presents “buying and selling pairs,” that are pairs of property to commerce towards. This contains fiat currencies and cryptocurrencies, permitting customers to swap between cryptocurrencies, foreign exchange, and mortgage currencies. There are a whole lot of buying and selling pairs out there on the platform.
Coinbase Professional API
Coinbase Professional presents entry to a public API, which permits customers to connect with a third-party utility, comparable to a buying and selling bot. This entry is designed for superior merchants who wish to program their very own buying and selling instruments, or just to connect with different purposes that use Coinbase Professional to execute trades.
The Coinbase Professional API connects to 2 principal kinds of purposes:
- Buying and selling apps.
- Market knowledge apps.
There are separate APIs for every of those use instances, and dozens of purposes that may use them.
Safety
Coinbase Professional presents the identical excessive stage of safety as Coinbase, with options comparable to two-factor authentication, $250k in FDIC insurance coverage (on USD deposits), and chilly storage of crypto property. As well as, Coinbase Professional permits customers to whitelist withdrawal pockets addresses, additional securing funds. This stops any unauthorized withdrawals out of your account.
Total, Coinbase Professional is without doubt one of the most safe crypto exchanges out there available on the market.
My expertise with Coinbase Professional
Coinbase Professional is my go-to platform for crypto buying and selling. With low charges, a big crypto choice, and streamlined person interface, even an intermediate dealer like myself can navigate the platform with ease.
I’ve personally traded a number of cryptocurrencies on the platform, using restrict orders to purchase and promote at set costs. I’ve additionally closely used the stop-loss function to guard my income. I’ve linked the API to third-party buying and selling bots as properly, experimenting with a number of completely different purposes to find out about grid bot buying and selling.
Total, Coinbase Professional is pretty intuitive for intermediate to superior crypto merchants, and presents an important number of crypto that might fulfill most merchants.
Who’s Coinbase Professional finest for?
Skilled crypto merchants
Coinbase Professional, like its guardian platform, is designed for superior merchants, by and thru. With an enormous number of customizable buying and selling instruments, low buying and selling charges, entry to margin and derivatives buying and selling, and even a bot programming platform, skilled crypto merchants will really feel proper at dwelling on this platform.
Excessive-volume merchants
Coinbase Professional presents a lot decrease charges than the usual Coinbase platform, and might save high-volume crypto merchants some huge cash. It additionally presents very deep liquidity, as there are billions of {dollars} transacted on the platform each day, so customers that wish to execute bigger trades will profit from utilizing Coinbase Professional.
Who shouldn’t use Coinbase Professional?
New crypto buyers
Whereas Coinbase Professional is a reasonably intuitive platform total, new buyers could shortly really feel overwhelmed with the detailed charts, dwell order books, and a number of buying and selling order varieties. The buying and selling pairs can also confuse customers who merely wish to purchase crypto and maintain it, as an alternative of actively buying and selling.
In case you’re new to crypto, the usual Coinbase platform could also be a greater place to begin, because it presents a less complicated person expertise, in addition to person schooling that can assist you get higher acquainted with crypto buying and selling.
Learn extra: How one can spend money on cryptocurrency: a newbie’s information
Professionals & cons
Professionals
- Superior crypto buying and selling instruments. Superior charts, dwell order books, and even API entry make Coinbase Professional an important possibility for energetic merchants.
- 160+ cryptocurrencies. An honest number of crypto makes Coinbase Professional an excellent possibility for these trying to commerce a number of cryptocurrencies.
- Low charges. Coinbase Professional expenses decrease charges than its normal platform, with high-volume merchants benefitting essentially the most.
Cons
- Too superior for freshmen. The quantity of buying and selling options is overwhelming, and new customers could shortly run for the hills (or, you realize, a less complicated crypto trade).
- No margin or futures buying and selling. Whereas Coinbase Professional is designed for superior merchants, if you’re trying to commerce on margin or commerce crypt futures, you’ll not discover these choices on this platform.
Coinbase Professional vs. rivals
Coinbase Professional | FTX.us | Gemini | |
---|---|---|---|
Charges (maker/taker) | As much as 0.00%/0.60%, relying on 30-day commerce quantity | As much as 0.00%/0.40%, relying on 30-day commerce quantity | $0.99–$2.99, for orders under $200
1.49%–3.49% for trades over $200 |
Buying and selling choices | Purchase/promote, buying and selling, API integration | Purchase/promote, margin, futures/derivatives, lending, NFTs, curiosity accounts | Purchase/promote, earn curiosity |
Funding choices | ACH, wire switch, crypto deposit | Wire switch, ACH, debit card, bank card, SEN, Signet, crypto deposit | Wire switch, ACH, debit card, crypto deposit |
Foreign money choice | 160+ crypto, 3 fiat | 25 crypto, 1 fiat | 90+ crypto, 7 fiat |
Verification course of | 2–3 minutes | Prompt | 2–3 minutes |
FTX.us
![](https://www.moneyunder30.com/wp-content/uploads/2022/05/ftx_logo.jpg)
Picture supply: photo_gonzo/Shutterstock.com
FTX.us is a cryptocurrency buying and selling platform that’s constructed “for merchants, by merchants,” geared toward U.S.-based buyers. It presents a small number of crypto to commerce, however a big selection of buying and selling instruments and options to fulfill essentially the most superior crypto merchants. It isn’t for freshmen, however presents margin and futures buying and selling, superior buying and selling, and a quant zone (programmatic crypto buying and selling), in addition to an NFT market.
FTX.us has very low buying and selling charges, particularly for high-volume merchants. It additionally presents a lending platform, crypto loans, and even its personal crypto debit card, permitting you to spend your crypto stability.
Right here’s our full FTX.us evaluation.
Gemini
![eToro Review: The Crypto Exchange With A Genius Feature - Gemini](https://www.moneyunder30.com/wp-content/uploads/2021/04/gemini_210x100.jpg)
Picture supply: Gemini
Gemini is an easy-to-use crypto trade that focuses on safety and a simplified person expertise. It presents over 90 cryptocurrencies, an intuitive cellular app, and even insurance coverage on crypto held of their digital pockets. Gemini additionally presents a crypto cost app that lets you spend your crypto stability on on a regular basis purchases.
Gemini does cost larger charges to informal buyers on the platform who solely wish to buy crypto, however makes it a quite simple course of. It additionally presents a sophisticated buying and selling platform with affordable charges, ultimate for knowledgeable merchants. Total, Gemini presents a easy and safe method to spend money on crypto, and is right for freshmen.
Right here’s our full Gemini evaluation.
Abstract
Coinbase Professional is a superb possibility for energetic crypto merchants who need a clear interface and entry to some superior instruments for buying and selling crypto. With superior charting, dwell order books, and an honest number of crypto, Coinbase Professional is extensively utilized by many skilled crypto merchants.
Total, Coinbase Professional is an immensely common crypto trade for U.S. merchants that helps decrease charges whereas nonetheless offering the identical safety and protections as the principle Coinbase platform. If you’re trying to commerce crypto often, it might be an important possibility for you.
Featured picture: Koshiro K/Shutterstock.com