Now that Coinbase Pro has migrated to Advanced Trade, many of the features previously found on Coinbase Pro are now offered to everyone through the main Coinbase app. Learn more about Coinbase and Advanced Trade in NerdWallet's Coinbase review.
The Coinbase Pro cryptocurrency trading platform has shut down for standard users. The shutdown comes after Coinbase added aspects of Coinbase Pro — including its lower, volume-based trading fees — into a feature known as "Advanced Trade." Although the Coinbase Pro landing page is still active, any attempts to signup will redirect users to Advanced Trade.
There are a few users who still have access to aspects of the regular service. The company says it is in the process of helping users adapt if they are in unique situations. For instance, people who use Coinbase Pro APIs (these are resources that allow approved external software to interact with Coinbase) may not have switched over yet. But for virtually all other users, Coinbase Pro is now Advanced Trade.
How Coinbase services fit together
Both Coinbase and Advanced Trade are run by Coinbase, one of the most popular cryptocurrency platforms in the United States. The combined service will remain free to sign up, as both of its predecessors were. The company does have a subscription service called Coinbase One, which offers no-fee trades and other benefits in exchange for a monthly fee of around $30.
The "Advanced Trade" features have been added to the main service to beef up what had been a simpler interface that might appeal to beginners. Though those features remain, you can now use the basic service to toggle to a mode that offers lower fees for some transactions and additional data tools.
If you're selecting an exchange for the first time, it's worth noting that Coinbase has several formidable competitors. (See how Coinbase stacks up among the other crypto exchanges and platforms.)
If you've already decided on Coinbase, here are some details on how Advanced Trade will affect you:
Fees
Advanced Trade users pay up to 0.6% per trade, based on a maker-taker model that also provides discounts for high-volume traders. This is similar to the structure previously offered on Coinbase Pro.
Coinbase clients who don't use Pro or Advanced Trade, on the other hand, pay fees that vary based on factors including:
How you're paying.
How much you're buying.
Market conditions, including volatility and liquidity.
Coinbase will inform you of your fees before you finalize your transaction.
Trading and selection
Historically, Coinbase's basic service users have been incentivized to buy and sell cryptocurrencies using fiat currency such as U.S. dollars. While it is possible to trade cryptocurrencies for one another, Coinbase charges a fee to do that on its classic platform.
Now with Advanced Trade, all users will be able to use crypto-to-crypto pairs. There are more than 500 trading pairs available for Advanced Trade, according to Coinbase.
All told, Coinbase has more than 240 cryptocurrencies available.
The shutdown comes after Coinbase added aspects of Coinbase Pro — including its lower, volume-based trading fees — into a feature known as "Advanced Trade." Although the Coinbase Pro landing page is still active, any attempts to signup will redirect users to Advanced Trade.
In June 2022, Coinbase announced that it would be sunsetting Coinbase Pro to replace it with Coinbase Advanced Trade to provide its full suite of advanced crypto investment services on one single platform.
TL;DR: We're sunsetting Coinbase Pro to migrate all advanced trading into one unified account via Coinbase Advanced, which brings customers access to popular features like staking, dapp wallet, derivatives, and Coinbase Card from a single platform.
In the event that Coinbase goes bankrupt, users' funds and coins stored on the platform could be at risk. According to Coinbase's User Agreement, in the case of bankruptcy, users' assets might be considered as the company's assets, and thus, they would be subject to bankruptcy proceedings.
Coinbase Advanced replaced Coinbase Pro as an improved advanced trading platform. Customers will see the same low volume-based fees as Coinbase Pro and do not need a subscription fee to use this feature. The Coinbase Advanced API lets you manage orders, products, and fees with our new v3 endpoints.
Your crypto is your crypto. It's that simple. Coinbase doesn't lend or take any action with your assets without your permission. Also, we offer the most secure and multifaceted risk management programs designed to protect our customers' assets.
Therefore, if you transfer your Coinbase assets to another trading platform, you might incur a hefty transfer fee. However, if you move your assets from Coinbase to Coinbase Pro it will charge you no transfer fee. Hence, it is better to transfer your assets to Coinbase Pro as it sounds more profitable.
During the hold period, you can still sell or trade crypto that you bought with these funds, or you can use the funds to buy crypto. However, until the hold is removed, you won't be able to cash the funds out or send any crypto bought with these funds from your Coinbase account.
On the Let's find the transaction screen, select the transaction network, then enter the transaction hash ID and the crypto address you received the unsupported asset on, then select Continue.
If Coinbase determines that you are eligible for reimbursem*nt under the Coinbase Account Protection, Coinbase will provide you with a one-time payment equal to the lesser of (i) the actual amount of funds or Digital Currency, as the case may be, that were improperly removed from your Coinbase account as a result of ...
Coinbase has excellent security measures to ensure its users' funds are safe. However, we recommend moving your crypto assets off any exchange into a self-custodial hardware wallet.
In extremely rare circ*mstances, and only where required by law or authorized by the Coinbase User Agreement, Coinbase may block or "freeze" customer funds on our platform.
If this happens, you will maintain the ability to transact with crypto, and cashout any funds in your cash balance, to a verified bank account. Only buy/sell services will be disabled.
Re-verify your identity and update your 2-step verification method. Start the process by entering your email address and password on the Coinbase sign in page. Even though you can't sign in, you can still contact Support. Provide an alternate email address that you have access to so our team can contact you.
Due to violations of our User Agreement, Coinbase may initiate closure of customer accounts for reasons, including, but not limited to, engaging in prohibited activity. When an account closure happens, buy/sell services are disabled and you will no longer be permitted to use your Coinbase account as a crypto balance.
Introduction: My name is Tyson Zemlak, I am a excited, light, sparkling, super, open, fair, magnificent person who loves writing and wants to share my knowledge and understanding with you.
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