Coinbase Global Inc. operates and owns both Coinbase and Coinbase Pro applications. However, these applications are suitable for different audiences. So what is the difference between Coinbase vs. Coinbase Pro?
Coinbase primarily focuses on easing beginners into the space. Alternatively, Coinbase Pro targets a more experienced and advanced audience of investors. In this article, we will review each platform and cover features, fees, and security.
What is Coinbase Exactly?
Coinbase and Coinbase Pro are cryptocurrency exchange platforms for individuals to buy, sell, and trade crypto. Coinbase is the largest crypto exchange in the United States, founded by Brian Armstrong and Fred Ehrsam. Whether you are a beginner or a veteran in crypto, Coinbase services are suitable for all.
Features: Coinbase vs. Coinbase Pro
Coinbase is most suitable for beginners making their first purchase in crypto. The user interface allows for easy navigation through various product offerings. For example, some products offered by Coinbase include:
- Buying, selling, and trading crypto
- Learn to earn opportunities
- Stake to earn interest
- Borrowing cash
- Recurring buys
Coinbase Pro targets more experienced crypto investors. Some features from Coinbase carry over, but not much. Coinbase Pro offers a more complex interface, allowing for the ability to use advanced features. This includes:
- Multiple trading options for buying and selling
- More cryptocurrencies available
- Advanced charting
Fees: Coinbase vs. Coinbase Pro
Coinbase charges a higher fee for its users compared to Coinbase Pro. The fees are determined by a combination of factors such as payment method and market conditions. To view the Coinbase fee details, click here.
Coinbase Pro fees are lower and allow for more advanced trading options. The platform uses the maker-taker fee model to determine its fees. This model is calculated based on the pricing tier you are in when the order is placed. To simplify, say you place a market order that gets filled immediately, then you would be considered a taker and will pay a fee between 0.05% – 0.60%. However, if the order is not filled immediately or only partially, then you would be considered a maker and pay a fee between 0.00% – 0.040%. To visit the Coinbase Pro fee details, click here.
Attached below is a break-down of Coinbase Pro’s maker-taker fee model:
Security: Coinbase vs. Coinbase Pro
Both platforms have the same security features, therefore they are both equally safe and effective. A few security measures include:
- Multi-factor authentication
- Cold wallet storage for 98% of deposits
- Whitelisting addresses in your address book
- FDIC insured up to $250,000 for USD balances
To visit the Coinbase security page, click here.
Upcoming Coinbase NFT Marketplace
Coinbase additionally has an NFT marketplace in its beta phase currently. Its users will be able to create and collect NFT collections. There will also reportedly be a connect mechanism to allow users to stay connected with influencers in the NFT space.
To visit the Coinbase NFT marketplace, click here.
If you are new to crypto, using Coinbase will be the best place to start. Though higher fees are associated, it provides an easier interface. On the other hand, if you are experienced in trading crypto then it would be wise to switch to Coinbase Pro. In all, both platforms are designed with the intent to buy, sell, and trade crypto, and they successfully achieve these goals.
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