Home Coinbase Coinbase Professional Evaluation 2021 – Cryptocurrency – Investopedia

Coinbase Professional Evaluation 2021 – Cryptocurrency – Investopedia

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Professionals Defined

  • Consumer-friendly interface: Coinbase Professional’s interface is intuitive and user-friendly if you happen to’re aware of different buying and selling platforms.
  • Decrease charges for greater quantity buying and selling: The platform presents comparatively low maker and taker charges for greater quantity trades, making it a great possibility for lively merchants.
  • Robust safety features: Coinbase Professional is thought for its sturdy safety features, together with two-factor authentication, biometric fingerprint identification, and extra. 
  • Superior buying and selling options: Coinbase Professional presents real-time charting instruments with transferring averages and exponential transferring averages. It additionally permits you to view your commerce historical past, order e-book, and value charts.


Cons Defined

  • Assist could be sluggish: Due to the excessive quantity of Coinbase Professional customers, getting a maintain of assist could be tough.
  • Platform not designed for newcomers: Coinbase Professional is designed for skilled merchants. With superior options and extra complicated buying and selling choices, a newbie might discover it tough to navigate.
  • Larger charges than different platforms: Whereas Coinbase Professional presents decrease charges than Coinbase, its charges are greater than different rivals.
  • Solely two indicators and overlays for charts: Whereas it presents extra superior graph options in comparison with Coinbase, the choices are nonetheless restricted to 2 choices.


Introduction

Coinbase Professional presents over 130 belongings accessible for commerce, low charges for top quantity trades, superior order sorts, and an easy-to-use platform. Customers additionally profit from industry-leading safety features designed to assist defend their crypto holdings. 

With its large number of crypto belongings and superior order sorts, Coinbase Professional could also be an ideal platform for skilled merchants. Nonetheless, newcomers might discover it tough to make use of. 

Whereas the cryptocurrency market has turn out to be extra accessible and mainstream in recent times, it’s nonetheless topic to massive value swings. It’s greatest to solely make investments cash which you can afford to lose.

Investing in cryptocurrencies, Decentralized Finance (DeFi), and different Preliminary Coin Choices (ICOs) is extremely dangerous and speculative, and the markets could be extraordinarily risky. Seek the advice of with a certified skilled earlier than making any monetary selections. This text will not be a advice by Investopedia or the author to spend money on cryptocurrencies nor can the accuracy or timeliness of the data be assured.


Firm Overview

Coinbase is owned by Coinbase International, which launched its trade in San Francisco in 2012. Former Airbnb engineer Brian Armstrong based the guardian firm. Along with its authentic Coinbase platform, in 2017, the corporate launched International Digital Asset Alternate (GDAX), designed for lively merchants. Ultimately, GDAX was rebranded to Coinbase Professional.

On the time of publication, Coinbase is out there in over 100 nations and has over 73 million verified customers. It is also ranked among the many high crypto exchanges globally by site visitors, liquidity, and buying and selling volumes. And in April 2021, Coinbase International turned the primary U.S. crypto buying and selling firm listed on a U.S. trade, and it is at the moment valued at round $86 billion.


Cryptocurrencies Out there on Coinbase Professional

Coinbase Professional customers can purchase, promote, and commerce over 130 cryptocurrencies. Common belongings supported by Coinbase Professional embody:

  • Ethereum (ETH)
  • Litecoin (LTC)
  • Cardano (ADA)
  • Bitcoin Money (BCH)
  • Stellar Lumens (XLM)
  • Chainlink (LINK)
  • Uniswap (UNI)
  • Aave (AAVE)


Buying and selling Expertise

Coinbase Professional customers can log into their accounts by means of a desktop browser and an iOS or Android cellular app. Each the desktop and cellular platforms supply related options and choices. Customers can entry real-time charting instruments with transferring averages and exponential transferring averages, in addition to their commerce historical past, the order e-book, and value charts. Moreover, Coinbase Professional presents a number of order sorts, similar to cease order, restrict order, and margin order. 

Whereas the platform and buying and selling expertise could also be perfect for skilled crypto merchants, it could be overwhelming for newcomers.


Charges

Like many different crypto exchanges, Coinbase Professional expenses charges for sure fee strategies and buying and selling charges. And whereas Coinbase Professional presents decrease buying and selling charges than Coinbase, its maker/taker charges are nonetheless greater than many {industry} rivals. That mentioned, greater buying and selling volumes end in payment reductions.

Cost Technique Coinbase Professional Payment 
Financial institution Account $0 
USD Pockets  $0 
Debit/Bank card  $0 
ACH Switch  Free 
Wire Switch  $10 deposit, $25 withdrawal 
Crypto Conversion  0.50% to 2% 

Pricing Tier Taker  Maker 
<$10K 0.50% 0.50%
$10 – 50K  0.35%  0.35% 
$50 – 100K  0.25%  0.15% 
$100K – 1M  0.20%  0.10% 
$1- 10M  0.18%  0.08% 
$10 -50M  0.15%  0.05% 
$50 – 100M  0.10%  0.00% 
$100 – 300M  0.07%  0.00% 
$300 – 500M  0.06%  0.00% 
$500M – 1B  0.05%  0.00% 
$1B+  0.04%  0.00% 

Learn our full comparability of Coinbase vs. Coinbase Pro for extra info.


Safety

Coinbase Professional presents industry-standard safety features, chilly storage, and FDIC insurance coverage. Its safety features embody two-step verification, biometric fingerprint logins, and AES-256 encryption for digital wallets. Coinbase additionally retains 98% of buyer funds saved offline in chilly storage. The remaining 2% is held on-line and backed by Coinbase’s insurance coverage coverage, which can cowl losses because of cybersecurity breaches.

Along with its safety features, all USD money balances held in Coinbase’s custodial financial institution accounts are protected by the Federal Deposit Insurance coverage Company (FDIC) as much as $250,000 per particular person. 

Whereas all accounts include strong safety features, you’re accountable for making a safe and robust password. 


Opening a Coinbase Professional Account

If you wish to create a Coinbase Professional account, there are two processes to comply with relying on whether or not or not you’re a brand new or present Coinbase person.

New Coinbase Consumer

  • Go to pro.coinbase.com
  • Choose “Get Began”
  • Full the signup kind, then click on “Create Account”
  • Click on the verification hyperlink despatched to your electronic mail tackle
  • After verifying your electronic mail tackle, you can be requested to supply a cellphone quantity
  • Specify whether or not you wish to create an ‘Particular person’ or ‘Institutional’ account
  • Relying on the account kind chosen, you’ll need to supply details about your self or your establishment.
  • You may have the choice to hyperlink your checking account so you may fund your buying and selling account with USD, GBP, or EUR. It’s also possible to skip this step and fund your account with Bitcoin or Ethereum.​

Current Coinbase Consumer

  • Go to pro.coinbase.com
  • Click on the “Signal In” button
  • Register utilizing your Coinbase.com electronic mail tackle and password
  • If in case you have already verified a cellphone quantity with Coinbase, then you definately’ll be prompted to enter the Coinbase 2-Step Verification code. 
  • If in case you have not but verified a cellphone quantity, then you definately’ll be requested to enter one.
  • You might be requested to confirm your identification, relying on which verifications you will have beforehand accomplished in your Coinbase account.
  • If Coinbase Professional helps buying and selling along with your area’s native forex (at the moment USD, GBP, or EUR), then you should have the choice to hyperlink your financial institution and fund your buying and selling account. It’s also possible to skip this step and fund your account with Bitcoin or Ethereum.


Buyer Service

Coinbase Professional presents two completely different assist pathways: electronic mail and Twitter. If customers want to obtain an electronic mail relating to this assist inquiry, they might want to fill out a form on Coinbase Professional’s web site. Customers may get assist by means of the Coinbase Twitter account.

Cellphone assist is simply accessible for customers who wish to shut their Coinbase account. If you wish to shut your account, you may name +1 (888) 908-7930.


Buyer Satisfaction

Like many different cryptocurrency exchanges, Coinbase Professional receives combined evaluations from customers. On Trustpilot, the platform receives a mean of two.1 out of 5 stars throughout practically 70 evaluations. A number of customers specific frustration over being unable to achieve customer support, typically for as much as months on finish. Others point out issues about platform charges and account lockouts. 

Coinbase did situation a statement in January 2021 committing to an improved buyer assist expertise, however reaching somebody for assist in a well timed method remains to be a problem.


Account Administration

Customers can simply handle their accounts utilizing Coinbase Professional’s cellular app or desktop browser. The net dashboard lets customers view account balances, a real-time value chart, and an order kind for buying, promoting, or buying and selling crypto. Customers may add fee strategies or entry customer support by means of the settings tab. 


How Coinbase Professional Compares to Different Cryptocurrency Firms

Coinbase Professional is a number one international cryptocurrency trade. Whereas it does supply many optimistic options for customers, its charges are typically greater than rivals and its buyer assist choices are restricted. Right here’s a have a look at how Coinbase Professional compares to a different fashionable trade, Binance:

Coinbase Professional vs. Binance

Coinbase and Binance are two of the most important crypto exchanges on the earth. Nonetheless, whereas Coinbase Professional is out there to U.S. customers, the Binance international platform will not be; there are additionally another essential variations to pay attention to:

  • For worldwide customers, Coinbase Professional helps fewer cryptocurrencies than Binance’s international platform. For these within the U.S., Coinbase Professional presents extra belongings than Binance’s associate platform, Binance.US.
  • Binance presents extra charting choices and overlays than Coinbase Professional. 
  • Coinbase Professional has greater buying and selling charges than Binance.
  • Binance presents a rewards program for holding BUSD on their platform, however Coinbase Professional doesn’t but have a rewards program.

Each Binance and Coinbase Professional supply a classy buying and selling expertise. General, Binance presents extra choices than Coinbase Professional for international customers. However for U.S.-based customers, Coinbase Professional would be the better option because of Binance’s restricted choices within the U.S. Moreover, Binance has a historical past of regulatory and safety points, whereas Coinbase Professional has a comparatively good fame in relation to safety. Given these issues, Coinbase Professional can also be the higher possibility.


Closing Verdict

General, Coinbase Professional presents a superb person expertise, and it could be a super possibility for lively merchants. Customers can purchase, promote, and commerce over 130 cryptocurrencies, and the platform presents payment reductions for high-volume buying and selling. Moreover, Coinbase has a great fame relating to safety and compliance, making it value contemplating if account safety is a priority for you.


Methodology 

Investopedia is devoted to serving to these fascinated by cryptocurrency investing make knowledgeable and secure selections. We’re dedicated to offering our readers with unbiased evaluations of the highest cryptocurrency exchanges for traders of all ranges.

Exchanges are solely thought of for evaluation if they’re secure, safe, liquid, and both regulated by a correct company or totally decentralized.

Article Sources


Investopedia requires writers to make use of main sources to assist their work. These embody white papers, authorities knowledge, authentic reporting, and interviews with {industry} specialists. We additionally reference authentic analysis from different respected publishers the place acceptable. You’ll be able to be taught extra concerning the requirements we comply with in producing correct, unbiased content material in our editorial policy .

  1. Coinbase. “Asset Directory.” Acessed Dec. 8, 2021.

  2. Coinbase. “About – Coinbase.” Accessed Dec. 8, 2021. 

  3. The New York Instances. “Coinbase Valued at $86 Billion in ‘Landmark Moment’ for Crypto.” Accessed Dec. 8, 2021.

  4. Coinbase. “Fee Structure.” Accessed Dec. 8, 2021. 

  5. Coinbase. “How Is Coinbase Insured?” Accessed Dec. 8, 2021. 

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

  7. Binance. “Fee Structure on Binance.” Accessed Dec. 8, 2021. 

  8. Binance. “BUSD Reward Program: Get More Benefits From Holding BUSD Anywhere.” Accessed Dec. 8, 2021.

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