Coinbase and Coinbase Pro are two of the most popular platforms for buying and selling cryptocurrency worldwide. Many beginners consider them for their first crypto investment. This comparison will guide you through the main differences and help you decide which platform suits your needs best.
Understanding the Two Platforms
Coinbase and Coinbase Pro are separate but interconnected platforms owned by the same company. They cater to very different types of users.
Coinbase is designed for consumers who want a simple way to buy, sell, and store digital currencies. Coinbase Pro, on the other hand, targets advanced and professional traders. It functions as a full-fledged cryptocurrency exchange.
What Is Coinbase Pro?
Coinbase Pro is a professional trading platform that allows users to trade cryptocurrencies like Bitcoin, Ethereum, and Litecoin, as well as fiat currencies such as EUR and USD. It operates similarly to traditional stock and forex platforms.
Key features of Coinbase Pro include:
- Margin Orders: Trade with leverage between 2x and 3x depending on the crypto pair. This is a high-risk approach but can yield significant rewards.
- Stop Orders: Set stop-loss orders to automatically sell a specific amount of cryptocurrency when the price hits a predetermined threshold.
- Limit Orders: Specify a price limit for buying or selling. If the market reaches your set price, the order executes automatically.
- Market Orders: Execute trades instantly at the current market price, but with lower fees compared to Coinbase.
Deposits and withdrawals can be made via bank transfers or cryptocurrencies. Funds can be transferred instantly between Coinbase and Coinbase Pro accounts. USD customer funds on Coinbase Pro are FDIC-insured up to $250,000.
The platform offers an intuitive interface with charting tools and trade history tracking.
What Is Coinbase?
Coinbase is tailored for retail customers and cryptocurrency beginners. It simplifies the process of buying, selling, and storing digital assets. Instead of trading on a market, users buy Bitcoin, Litecoin, and Ethereum directly at a fixed price, which is usually very close to the current market price on Coinbase Pro.
In addition to bank transfers and crypto deposits, Coinbase allows withdrawals via PayPal. It also supports purchases with credit cards, a feature rarely offered by other exchanges.
Key Comparison: Coinbase Pro vs. Coinbase
| Feature | Coinbase | Coinbase Pro |
|---|---|---|
| Platform Type | Easy Buy/Sell Methods | Cryptocurrency Exchange |
| Available Cryptos | Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) | Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) |
| Deposit Methods | Bank Transfer, Credit Card, Debit Card | Bank Transfer, Cryptocurrency |
| Withdrawal Methods | Bank Transfer, PayPal, Cryptocurrency | Bank Transfer, Cryptocurrency |
| Trading Fees | ~4% for credit card purchases, ~1.5% for bank transfers | ~0.25% or less (volume-based discounts available) |
| Security | Excellent | Excellent |
| Beginner-Friendly | Yes | No |
| Mobile App | Yes | No |
Fees Structure
Coinbase Pro excels in fee savings. Maker trades often have zero fees, and standard trading fees are typically around 0.25%. Volume-based discounts can reduce these fees to as low as 0.1%. For detailed pricing, always check the official fee structure page.
Coinbase charges approximately 4% for credit card or PayPal transactions and about 1.5% for bank transfer purchases or sales. While these are higher than Pro’s fees, Coinbase still offers some of the lowest credit card purchase fees in the industry.
Supported Countries
Coinbase Pro is currently available in the United States, Singapore, Australia, Canada, and Europe (including the UK).
Coinbase serves a broader range of countries, including the US, UK, Australia, most European Union nations, Canada, Singapore, and several others.
Which Platform Is Right for You?
Coinbase is the perfect choice for those seeking a straightforward way to buy and store cryptocurrencies like Bitcoin and Ethereum. Its user-friendly interface and additional payment options make it ideal for beginners.
If you are familiar with trading platforms or willing to learn, Coinbase Pro can help you save significantly on fees and offers advanced functionality. Although it may seem complex at first, tutorials and practice can make the transition smooth.
Both platforms are operated by a trusted company well-regarded in the cryptocurrency community. They each provide valuable services tailored to different user groups.
Pros and Cons
Coinbase Advantages
- Lower fees than many "easy buy" competitors
- Faster cryptocurrency purchases than most exchanges
- Multiple payment methods: bank transfers, credit/debit cards
- Beginner-friendly and easier to use
- Secure storage of customer funds
- Regulated and trustworthy company
Coinbase Disadvantages
- Higher fees compared to most dedicated exchanges
- Wallets are less secure than self-controlled wallets
- Monitors how you spend your cryptocurrency
Coinbase Pro Advantages
- International market access
- Low trading fees
- Good liquidity
Coinbase Pro Disadvantages
- Customer support could be improved
- Not beginner-friendly
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Frequently Asked Questions
What is the main difference between Coinbase and Coinbase Pro?
Coinbase is designed for simplicity, allowing easy buying and selling for beginners. Coinbase Pro offers advanced trading tools and lower fees for experienced traders.
Can I transfer funds between Coinbase and Coinbase Pro?
Yes, you can instantly and freely transfer cryptocurrencies and fiat between your Coinbase and Coinbase Pro accounts.
Which platform has lower fees?
Coinbase Pro has significantly lower fees, starting at 0.25% or less, while Coinbase charges up to 4% for credit card purchases.
Is my money safe on these platforms?
Both platforms are secure. USD funds on Coinbase Pro are FDIC-insured up to $250,000. Coinbase also follows strict security protocols to protect user assets.
Does Coinbase Pro have a mobile app?
No, Coinbase Pro does not currently offer a dedicated mobile app. However, the standard Coinbase app is available for mobile users.
Can I use a credit card on Coinbase Pro?
No, Coinbase Pro only supports bank transfers and cryptocurrency deposits. Credit card purchases are only available on the standard Coinbase platform.