Advertiser Disclosure
Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. MoneyCrashers.com does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.

Coinbase Pro Review – An Advanced Cryptocurrency Trading Platform


FEATURED PROMOTION

Coinbase Logo

Our rating

4.4/5

Pros

  • thumbs-upAdvanced trading interface and tools
  • thumbs-upMuch lower fees than standard Coinbase platform
  • thumbs-upLarge selection of crypto trading pairs (160+)
  • thumbs-upVery secure platform

Cons

  • thumbs-downMay be too complicated for new crypto investors
  • thumbs-downFewer charting tools than competitors
  • thumbs-downNo margin or derivatives trading available


Dig Deeper

Additional Resources

Coinbase Pro is an advanced cryptocurrency trading platform that allows users to trade a wide selection of cryptocurrencies for much lower fees than the standard Coinbase platform. Coinbase Pro offers a more detailed trading platform, with multiple order types, live order books, and more advanced charting.

Coinbase Pro was originally a standalone crypto exchange known as GDAX until Coinbase renamed the exchange and integrated it into its global platform in 2018. Coinbase was founded by Brian Armstrong in 2012 as a way to trade bitcoin and other crypto. It has grown into one of the largest crypto exchange platforms in the world, boasting over 70 million users and billions of dollars in daily trading volume.

Key Features of Coinbase Pro

Coinbase Pro offers more advanced trading features than the standard Coinbase platform, and it is designed for high-volume and active cryptocurrency traders. There is a wide selection of crypto available on the platform, as well as advanced trading tools and an API for third-party connectivity. Here are the details of a few of the features on Coinbase Pro:

Advanced Trading Interface

Coinbase Pro features a more advanced trading interface that active crypto traders will find familiar. Users can quickly browse through a list of crypto trading pairs (such as USD-BTC), stay up to date on recent trades with a live trade history, and see the market activity on a given cryptocurrency with live order books.

Coinbase Pro allows users to view candlestick charts for each crypto, including different timeline views, and the ability to switch between a price chart and depth chart. Users can also add in exponential moving average overlays for both 12- and 26-day periods. Although this can help users find trends, the charting on Coinbase Pro is more basic that other advanced crypto trading platforms, such as FTX or Kraken.

Finally, Coinbase Pro allows users to place different order types, including market, limit, and stop-loss orders. This allows users to control trades and create orders that can be executed when certain conditions are met.

Overall, the Coinbase Pro trading interface offers more tools than the standard Coinbase platform, but may fall short of expectations for the most advanced crypto traders.

Low Crypto Trading Fees

Coinbase charges some of the highest fees in the industry for crypto trades, whereas Coinbase Pro offers much more reasonable fees for trading. Fees are listed in a tiered structure, offering lower fees to higher-volume traders. Fees start at 0.60% per trade, and go all the way down to 0.00% for accounts that trade over $500 million per month.

Coinbase Pro uses a Maker-Taker fee structure, with lower fees available to market makers. A maker is someone who places a trade that does not get filled immediately, and the order is placed in the order book. A taker is someone who places a trade that gets filled immediately by an existing order in the order book.

Here’s an overview of the Coinbase Pro Fee Schedule:

30-Day USD VolumeTaker FeeMaker Fee
$0 to 10K0.60%0.40%
$10K to 50K0.40%0.25%
$50K to 100K0.25%0.15%
$100K to 1M0.20%0.10%
$1M to 20M0.18%0.08%
$20M to 100M0.15%0.05%
$100M to 300M0.10%0.02%
$300M to 500M0.08%0.00%
$500M+0.05%0.00%

Cryptocurrency Selection

Coinbase Pro offers access to over 160 cryptocurrencies, with more being added monthly. Users can trade popular cryptocurrencies such as bitcoin (BTC), ethereum (ETH), solana (SOL), avalanche (AVAX), dogecoin (DOGE), and terra (LUNA). Coinbase Pro also supports small crypto projects, such as Gala Games (GALA) and Rarible (RARI).

Coinbase Pro lists crypto in trading pairs, with a base currency (such as U.S. dollars, bitcoin, or ethereum) paired with a cryptocurrency. There are over 400 trading pairs available on the platform, allowing users to trade between their favorite currencies.

Although some exchanges offer access to more crypto than Coinbase Pro, the Coinbase team carefully selects which crypto are to be listed, and includes most of the top rated crypto on the market.

API Keys

Coinbase Pro allows traders to connect third-party applications to the platform, including trading bots and other apps. This integration allows advanced traders to set up their own programmed trading applications and use the Coinbase Pro platform to execute trades. 

Users can access the API keys directly through the Coinbase Pro menu, create new keys for each application, and set permissions on what access the API keys will allow. This integration also allows users to connect third-party monitoring applications that allow users to connect to multiple platforms to view their total portfolio across each.

The Coinbase API keys are robust and secure, and offer one of the easiest ways to integrate applications into Coinbase Pro.

Coinbase Pro Security

Coinbase Pro shares security features with the standard Coinbase platform, offering top-of-the-line features to help protect user funds and information. Coinbase Pro requires two-factor authentication using Google Authenticator for logins, offers a withdrawal address whitelist, and even offers FDIC insurance on user deposits up to $250k per account.

For crypto assets, Coinbase Pro keeps 98% of all cryptocurrency in offline cold storage vaults that are geographically distributed and protected with multisignature keys. Coinbase Pro also offers crime insurance against theft from these cold storage vaults to protect user funds. 

Coinbase Pro also protects all user data with AES-256 bit encryption, which is on par with U.S. bank and government data security standards. Overall, Coinbase Pro offers some of the best security in the industry for a cryptocurrency exchange.


Advantages of Coinbase Pro

Coinbase Pro is a great platform for active traders who want access to a familiar trading interface and more control over trades with multiple order types and advanced charting tools. With access to a decent selection of cryptocurrency and a focus on security, Coinbase Pro continues to be a popular choice for high-volume traders. Here are a few advantages of using Coinbase Pro:

  • Access to More Trading Tools. Coinbase offers market, limit, and stop-loss orders, chart overlays, live order books, and hundreds of trading pairs. Coinbase Pro also offers API access to connected third-party tools for more advanced trading strategies.
  • Crypto Selection. Coinbase Pro has added over 160 cryptocurrencies to the platform, giving users a large selection to choose from. The most popular cryptocurrencies are available and Coinbase Pro also allows users to invest in projects with small markets caps.
  • Low Fees for High-Volume Traders. Coinbase Pro users enjoy much lower trading fees, ranging from 0.00% to 0.60%, compared to the standard Coinbase platform (charging 1.49% or more). Users who have higher monthly volumes pay lower fees, with the highest tier of users paying no fees.

Disadvantages of Coinbase Pro

Although Coinbase Pro offers a solid platform for intermediate traders, it isn’t necessarily the best professional trading crypto exchange available. With a lack of advanced charting tools and no access to derivatives and margin trading, Coinbase Pro may fall flat with some advanced traders. Here are a few disadvantages of using Coinbase Pro.

  • Fewer Tools Than Other Advanced Crypto Exchanges. Coinbase Pro offers candlestick charting, life order books, and some overlays on charts, but there are far fewer options available than other crypto exchanges. Many platforms integrate directly with the popular platform Tradingview for most every charting tool imaginable, andoffer more order types and trading tools. Coinbase Pro users also cannot trade on margin or access crypto derivative products, whereas users on other platforms like Kraken and FTX can.
  • Too Advanced for Beginners. Coinbase Pro may quickly overwhelm new crypto traders who are not used to reading crypto charts or placing orders in crypto trading pairs. The charting and live order books present a lot of information all at once, and the order form has more options than the standard Coinbase platform. New crypto investors would be better off using the regular Coinbase interface.

How Coinbase Pro Stacks Up

Coinbase Pro is a great option for intermediate and advanced traders who want access to more trading tools and a wide selection of crypto trading pairs. It offers lower fees than the standard Coinbase platform, and users can connect third-party applications and trading bots through the API. The user interface is designed for active traders, and new crypto investors may be overwhelmed trying to use Coinbase Pro.

For comparison, Gemini is a simple-to-use crypto platform that offers a secure way to browse the buy cryptocurrency. Users can use the simple order form or try Gemini ActiveTrader for access to more trading tools and charts. Gemini charges higher fees for most transactions, and has a smaller selection of crypto compared to most exchanges.

Here’s how Coinbase Pro and Gemini compare:

Coinbase ProGemini
Fees0.00% to 0.60% 0.00% to 3.49%
Number of Cryptocurrencies160+60+
Trading FeaturesAdvanced charting, multiple order types, mobile trading, crypto trading pairs, API accessSimple order form, advanced trading platform, mobile trading, crypto wallet, crypto custodial services
Security FeaturesCold storage, two-factor authentication, FDIC insurance, crime insurance, AES-256 encryptionCold storage, two-factor authentication, FDIC insurance, crypto wallet insurance, user role management, whitelisting

Final Word

Coinbase Pro is a solid platform for intermediate and advanced crypto traders who want access to a wide selection of cryptocurrency and some advanced trading tools. Although it does not offer the best charting tools or access to margin trading, Coinbase Pro is a highly-liquid platform that boasts large trading volumes and deep order books, making it ideal for making larger trades. 

Coinbase Pro is not for beginners, and the trading interface may quickly become too complicated for new crypto traders. If you are not familiar with crypto order books and candlestick charting, you’ll be better off using a simpler platform, such as the standard Coinbase app. 

Bottom line: Coinbase Pro is a great option for active traders that want to save money on fees, as well as users who expect to trade high volumes of crypto each month.

FEATURED PROMOTION

GME is so 2021. Fine art is forever. And its 5-year returns are a heck of a lot better than this week’s meme stock. Invest in something real. Invest with Masterworks.

Coinbase Logo

Our rating

4.4/5

Pros

  • thumbs-upAdvanced trading interface and tools
  • thumbs-upMuch lower fees than standard Coinbase platform
  • thumbs-upLarge selection of crypto trading pairs (160+)
  • thumbs-upVery secure platform

Cons

  • thumbs-downMay be too complicated for new crypto investors
  • thumbs-downFewer charting tools than competitors
  • thumbs-downNo margin or derivatives trading available
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Stay financially healthy with our weekly newsletter

FEATURED PROMOTION