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This review is office of a crypto exchange review series. Our last reviews evaluated Kraken, Binance, Bittrex, Huobi, KuCoin, Poloniex, Gemini, and Bitstamp.

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Coinbase Pro is an avant-garde cryptocurrency trading platform owned and operated by Coinbase, Inc. It was launched in the twelvemonth 2015 as GDAX, a professional trading platform for individual active traders and later rebranded in July 2018. Coinbase Pro enables high-volume cryptocurrency trading solutions to traders in the US and other countries.

Full general Overview

Operating from San Francisco, the platform offers professional trading tools and wallet services, delivered through a completely revamped interface for a seamless trading feel. Coinbase Pro supports trading 0x, Diviner, Basic Attending Token, Bitcoin, Bitcoin Cash, EOS, Ethereum, Ethereum Archetype, Litecoin, Stellar, Ripple and ZCash and a number of other tokens.

Afterwards Coinbase Pro's launch in early 2015, information technology introduced many exciting features, among which are reliable security measures, high trading volumes, low fees, deep liquidity and ease of utilise. That being said, Coinbase Pro is focus on the more experienced, high-volume traders than beginners. Information technology permits a practiced corporeality of avant-garde trading options, ranging from finish and limit orders, to fill or kill and skilful 'til canceled orders.

User Experience

In this section, nosotros will intermission downward the dissimilar aspects of the Coinbase Pro user feel to provide a holistic view of the style this growing exchange supports their user base.

Customer Back up

Coinbase Pro users enjoy excellent client support, with a defended squad of support staff on hand to resolve issues within minutes. Phone support is as well bachelor for more than urgent cases (for instance, customers tin lock their accounts on the telephone, if they experience their security may have been compromised) during weekdays.

Registration Process

The registration process is quite straightforward; simply go to https://pro.coinbase.com/ and select Sign Up. Provide your details and verify your email accost and phone number. Finally, you lot'll be asked to upload a authorities-issued ID for verification before you tin link a depository financial institution business relationship (you could skip this pace if you want to).

If yous already take a Coinbase account, simply utilize your registered email address for your Coinbase Pro account. Besides the fact that it'due south against policy to operate more than than one account each for Coinbase and Coinbase Pro, it makes for a seamless trading feel, as both accounts are automatically linked and you can transfer funds betwixt accounts.

Business relationship Verification

After registration, you'll be asked to verify your account. To be successfully verified, you need to upload relevant official documents. Users from the The states would be asked to provide a driver's license or state ID. You must complete address verification and as well provide the terminal 4 digits of your Social Security number.

Users from the UK are required to upload a regime-issued ID document (e.g., driver's license, or passport) and also answer some verification questions while users from every other country are required to provide 2 identity documents.

Supported Countries

Coinbase Pro allows users from 42 different countries including: Australia, Canada, Singapore, United kingdom of great britain and northern ireland, Europe, and the Us (with the exception of those resident in Hawaii, Minnesota, and Wyoming, since they exercise not yet have an operating license there). Once a user from any of the immune countries is registered and has had their identity verified, they can get-go trading immediately.

Trading

Some other outstanding feature of Coinbase Pro is that it has comparatively low trading fees and at the aforementioned time, charges goose egg fees for cryptocurrency withdrawals or deposits. This feature in particular singles it out every bit a favored pro cryptocurrency trading platform. However, it does non let margin trading at this time, which may be a drawback for more avant-garde cryptocurrency traders.

Fees

By adopting a dynamic fee structure, Coinbase Pro makes it possible for you to trade with about-zero fees, one time you know your manner effectually. You're allowed to place an gild as a marketplace gild, a limit order, or a finish order. Coinbase Pro charges no fee at college volume tiers when you place an open society on the books when buying or selling, and this applies to all supported cryptocurrencies.

Although Coinbase Pro is a cracking exchange for institutions which can execute high volume trades, recent fee increases have severely injure retail investors. Executing less than $10,000 in monthly trading volume places you in the commencement tier that has a maker and taker fee of 0.5%. This is ane of the highest fees in the industry.

Supported Cryptocurrencies

For the fiat markets (USD, GBP, EUR), Coinbase Pro supports the following cryptocurrencies: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Archetype, Stellar Lumens, Ripple, EOS, ZCash, Basic Attention Token, REP and 0x.

You lot can construct a diverse portfolio with all of these assets by reading our guide well-nigh how to create your first cryptocurrency index fund on Coinbase Pro here.

On the stablecoin markets, cryptocurrencies like BTC, ETH, ZEC, BAT, DAI, GNT, MANA, LOOM, CVC, DNT tin be traded against the dollar-pegged stablecoin USDC.

All Coinbase Pro users can view the order volume and check information related to any trading pair, but they tin can only merchandise the pairs permitted in accordance with the local regulators in their geographical area. The availability of different trading pairs is entirely dependent on the local regulations within the country. For instance, in Singapore, Canada, and Commonwealth of australia, only the ETH/BTC, BCH/BTC, and LTC/BTC trading pairs are available.

Portfolios

Like many other exchanges, Coinbase Pro has begun assuasive customers to segment their funds into multiple portfolios. This allows traders to maintain individual portfolios that can be used to separate strategies, funds, and manage risk.

Although Coinbase Pro portfolios aren't user-friendly for the average investor, avant-garde traders will be pleased with the increased control over their funds.

API Management

Coinbase Pro has a WebSocket feed that makes getting real-time market data quite easy, and the platform'south manufacture-leading API is part of Coinbase Pro. Also, the trading API enables its users to develop programmatic trading bots with a loftier level of security. Coinbase Pro has a dedicated folio to the API likewise as related documentation that are easily attainable from the lesser of any page on the website or you go to the primary navigation menu at the superlative of the webpage.

Linking these API keys to trading bot services is an easy process. We've provided a guide on how to link Coinbase Pro API Keys in order to manage your Coinbase Pro account here.

Security

Higher up all else, information technology is vital for all cryptocurrency exchanges to identify security at the forefront of their development. Coinbase Pro embodies these ideas by leading the marketplace in security measures and continuously pushing for improved security practices.

Cold Storage

Every bit a trading platform, Coinbase Pro is considered a safe oasis. One of its best practices in terms of security measures is that 98 pct of its customers' digital assets are locked in cold storage, thereby preventing loss of funds through theft, hacking or other means. The residue is privately insured.

With regards to data security, Coinbase Pro has several measures in place to ensure protection. For example, stored Bitcoins are distributed geographically around the world in safe eolith boxes and vaults. Rather than storing sensitive data on servers, the platform has all such data stored offline, away from the internet. This drastically reduces the take chances of a security breach.

For additional security, the aforementioned data is split with redundancy and secured using AES-256 encryption before they are copied onto FIPS-140 hardware and paper backups. Only like the funds' security measures, those FIPS-140 hardware and paper backups are also distributed geographically around the earth into vaults and safe deposit boxes.

two-factor Authentication

In addition to the data security, all user accounts are required to enable two-footstep verification. This verification demands that users get a code from their phones for signing in and performing other sensitive actions in addition to inputting their passwords.

FDIC Insurance

Digital currency is not a legal tender, neither is it regime-backed, and as such, it cannot be covered by protections from the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation. Instead, equally mentioned before, the digital assets not locked in cold storage (less than two percent) are privately insured. The insurance policy covers cybersecurity, employee theft, and physical security, but non individual business relationship security breaches.

Although the cryptocurrency funds are insured privately, Coinbase Pro users have FDIC-backed insurance coverage for their USD balances, up to $250,000 USD.

Encryptions and Passwords

Coinbase Pro likewise implements all-time practices for the payment manufacture by running all site traffic over HTTPS. All wallets and private keys are AES-256 encrypted as well before being stored. Fifty-fifty every bit an arrangement, when hiring, Coinbase puts in additional precautions which pertain to employees. They have to pass background checks, and their hard drives have to be encrypted, screen lock enabled and use stiff passwords.

Limits and Liquidity

Coinbase Pro supports an unlimited deposit of Bitcoin, Litecoin, Ethereum and Bitcoin Cash to your wallet likewise as USD deposits through wire transfer. The users are offered a high level of liquidity, equally the users tin can withdraw upwardly to $ten,000 per 24-hour interval from an individual business relationship while from an institutional account up to $50,000 per day.

Withal, on request and approval, they let higher withdrawal limits. But their fiat currency deposits and withdrawals are express to some degree, users are allowed to deposit and withdraw all the cryptocurrencies traded on Coinbase Pro. All they crave is an external wallet for each digital currency being traded. You lot tin can get more than information regarding limits and liquidity on their official trading rules page found hither.

Pros

With a highly intuitive trading interface, information technology provide a more seamless trading experience than most exchanges
Corking choice for professional traders
Backed by a reputable visitor and fully regulated in the The states
Secure platform with private and FDIC-backed insurance protection
High liquidity across their trading pairs

Cons

The pick of cryptocurrencies is growing, but ultimately they are still lagging behind other top exchanges
No mobile app available yet but mobile-friendly platform
Customers have historically complained most the long wait times to reach the Coinbase user support team
The trading fees for retail investors are college than other major exchanges

Coinbase Pro Rating ― four.0

Total Rating - 4

Coinbase Pro is an exceptional substitution, only the fees are just fashion too loftier. Since retail investors take a wide selection of other exchanges to choose from like Binance, there is no reason to settle for paying a 0.5% trading fee.

Summary

Coinbase Pro is one of the all-time cryptocurrency trading platforms for professional person traders, because all the groundbreaking features it supports. It'south a highly secure platform with a lot of verification procedures in identify to safeguard user accounts. The trading interface is intuitive with more detailed trading charts powered by a real-fourth dimension data feed for a seamless experience. With high volume and liquidity, it is an excellent selection for high book traders because of its low transaction fees. Whether you're trading on the website or using the API, Coinbase Pro allows you to trade securely and seamlessly.

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Source: https://academy.shrimpy.io/post/coinbase-pro-review-2021