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Coinbase vs Coinbase Pro: Know the Difference [2021]

Coinbase vs coinbase pro

In this article, I’ve provided a Coinbase vs Coinbase Pro comparison to help you choose one of them. Coinbase and Coinbase Pro are the most prominent cryptocurrency exchanges with more than $100Billion traded through the both platforms. Even though they both are owned by the same company called Coinbase Global Inc., they offer a very different stages for cryptocurrency trading.

If you want to make a Coinbase Pro account, then you’ve to register a standard Coinbase account and send them your proof of identity and proof of address. However, if you are already a Coinbase account holder you can easily log-in to Coinbase Pro with your Coinbase credentials and you’ll be registered.

You can transfer crypto between your Coinbase wallets and your Coinbase Pro wallets. You can easily fund your Coinbase and Coinbase Pro account by using same the methods that are available. These include credit card wire, PayPal, and a host of other methods. You can read more about the funding withdrawals as well as the fees applied to it in the following guide.

Coinbase vs Coinbase Pro: What are they?

All US dollar account balances at Coinbase and Coinbase  Pro have FDIC insurance, this means that all clients who have US dollar balance below 250 thousand dollars are federally insured by the US government, this is not something which you might have seen in any other crypto exchange. To find more similarities and differences, look at the guide below on Coinbase vs Coinbase Pro.

Coinbase

Coinbase is easy to use and is designed for beginners that are new to cryptocurrencies. They have a user-friendly mobile application for both Android and iOS users. It offers a simple interface for selling and buying cryptocurrency. Coinbase practices active coin management protocols such as cold storage and multi-signature wallets. You also have standard user side security tools such as two-factor authentication which you’ll definitely want to make use of.

It has some unique features such as news feed, free crypto and free education, and price alerts. It allows you to create a watch list of cryptocurrencies which will provide you a price alerts when there will be any big fluctuations in price. Furthermore, it also keeps users up-to-date with current events on the news fees. Coinbase might also track how its users spend their cryptocurrency and has a less payment option as compared to Coinbase Pro.

Coinbase pros:

  • Great platform for managing crypto funds.
  • Easy to use Mobile application.
  • Monitor crypto values.
  • Beginner friendly.
  • Send and receive coins with ease.
  • Two-Factor authentication security.

Coinbase cons:

  • Fees charged by the platform add up rapidly.
  • Customer service is a significant problem.

Coinbase Pro

If you have a Coinbase account and if you are an advanced crypto trader then Coinbase Pro might be the best platform for you. Apart from offering more advanced trading experience there are also many coins  that you can trade here which are not available on the standard Coinbase exchange. Coinbase Pro accept traders around the world, and they have easy fiat on-boarding  for those who are in US and UK.

Now, you’re probably wondering how safe is Coinbase Pro is, well it has the same security and protections that you have at standard Coinbase exchange. It’s important to point out that Coinbase pro follows the same kyc and identification procedures as Coinbase. There is quite a selection of coins that you can trade at Coinbase Pro. There are over 40 coins they’ve listed and these include most of those you’ll have become accustomed to. This is less than other exchanges such as Binance or Kraken, but it’s still a reasonable selection.

One of the main reasons that this is called Coinbase Pro is because of its enhanced trading platform. It is well laid out and intuitive to use for beginners and advanced  traders alike. You can also easily switch between the different markets and trade other coins.

Coinbase Pro pros:

  • Designed specially for advanced traders.
  • Two-Factor authentication security.
  • Avoids the regular fees charged by Coinbase.
  • Low fees.

Coinbase Pro cons:

  • Transactions take a little longer to go through.
  • Customer service is a significant problem.
  • No mobile application.

Coinbase vs Coinbase Pro: Key Features

Features Coinbase Coinbase Pro
Basic features Sell, buy, and exchange crypto, simple interface, price is in USD   Multiple order types, Professional trading Interface, Low per-trade fees
Cryptocurrencies supported 44 Cryptocurrencies supported   47 Cryptocurrencies supported
Types of transactions Exchange, send, receive, buy and sell Deposit and Withdraw, stop or limit order, buy and sell, time in force order policies  
Security features Cold store and crypto vaults, built-in wallets, 2FA via Google Authenticator app or SMS,  US balance FDIC insured up to $250,000   Whitelisting pre-approved addresses, Cold store and crypto vaults, built-in wallets, 2FA via Google Authenticator app or SMS,  US balance FDIC insured up to $250,000  
Fees 0.50% per trade, Additional 3.99% for credit card purchases, Additional 1.49% for bank account or coinbase wallet purchases   0%-0.50% purchase and trading fees, $10 wire transfer deposit fee, $25 wire transfer withdrawal fee

Coinbase vs Coinbase Pro: Fees

The main difference between Coinbase and Coinbase Pro is their fee that depends on the type of trades you are making. If you are in Coinbase you are automatically enrolled into Coinbase Pro, there is a pretty significant difference when it comes to fees.

Coinbase: it is an amazing way to aid beginners get started by understanding how they charge fees a selling crypto which might help you save a lot of money. Coinbase charges fee of approximately 0.50% per transaction, this can differ due to market fluctuations. Additionally, it charges extra fee that depend on the account you used in the transaction.

Below table will show you how Coinbase charges fee based on account type:

Account Fees
Instant cash withdrawal  Up to 1.5% of any transaction and a minimum fee of $0.55
Wire transfer $10 ($25 outgoing)
Coinbase USD wallet 1.49%
USD Deposit Method Free
U.S. Bank Account 1.49%
Credit/Debit Card Buy 3.99%
ACH Transfer Free

Coinbase Pro: If you are a regular trader, then you’ll no doubt be interested in the trading fees. Coinbase Pro operates a maker-taker fee model, this means they have two fee rights based on whether you’re taking liquidity from the exchange or are making liquidity. ‘Taker’ are those who place an order at the market price and gets filled immediately. Whereas, ‘Maker’ are those who place an order and are not immediately matched.

These fees are also dynamic and are vary according to the amount of volume that you’ve traded in the past 30 days. So, the more you trade, the lower your fees. As an indication take a fees range from 0.05 % to 0.25%, whereas the maker fees range from 0% to 0.15%.

Below table will show you the Coinbase Pro fee structure:

Pricing tier Taker fee Maker fee
< $10,000 0.50% 0.50%
$10,000-$50,000 0.35% 0.35%
$50,000-$100,000 0.25% 0.15%
$100,000-$1M 0.20% 0.10%
$1M- $10M 0.18% 0.80%
$10M- $50M 0.15% 0.05%
$50M-$100M 0.10$ 0.00%
$100m-$300M 0.07% 0.00%
$300M-$500M 0.05% 0.00%
>$500M 0.04% 0.00%

Fee compassion table: Coinbase vs Coinbase Pro

Transaction Coinbase Coinbase Pro
ACH Free Free
Wire Transfer $10 ($25 outgoing) $10 ($25 outgoing)
Exchange Crypto 2.0% 0%-0.50%
Buy/sell with credit/debit card 4.49% N/A
Buy/sell with bank account 1.99% 0%-0.50%
Buy/sell with Coinbase Wallet 1.99% 0%-0.50%
Instant withdrawal Up to 1.5% N/A

Coinbase vs Coinbase Pro: Security features

Your account sign in information for Coinbase and Coinbase Pro is same, hence, they both have the same security features. Below are some security features that are available for both platforms;

Security Features Coinbase Coinbase Pro
Built-In wallets: for storing crypto-currency    Have its own digital wallet  Have its own digital wallet
Two-Factor Authentication: for login purpose as well as on a per-trade basis   Via Google Authenticator app or SMS. Via Google Authenticator app or SMS.
Crypto Vaults: additional layer of protection to prevent fraudulent withdrawals   Vaults are 24-hour time-locked Vaults are 24-hour time-locked
Cold Storage Store 98% of crypto assets offline in secure cold storage Store 98% of crypto assets offline in secure cold storage
Whitelisting Crypto Addresses: ability to restrict access to addresses that can withdraw your currency   This feature is absent These addresses are saved in your address book and block any other addresses from accessing your funds.

Conclusion

While comparing Coinbase vs Coinbase Pro, we found that there are a lot of similarities such as currencies, insurance, security, and safe storage for your digital assets. Yet, the main feature they differ most is at the Fee structure. If you are a beginner at cryptocurrencies, Coinbase will be the best platform to start your experience. Coinbase Pro- exchange is easy to fund, trade on and is one of the  most secure. It benefits from the  knowledge and expertise of the people behind the Coinbase.

Read: Trust Wallet vs MetaMask

Frequently Asked Questions:

Is Coinbase Pro better than Coinbase?

If you have a Coinbase account and if you are an advanced crypto trader then Coinbase Pro might be the best platform for you. Apart from offering more advanced trading experience there are also many coins  that you can trade here which are not available on the standard Coinbase exchange.

Can I transfer from Coinbase to Coinbase Pro?

Yes. You can transfer crypto between your Coinbase wallets and your Coinbase Pro wallets.

Can I use my Coinbase account for Coinbase pro?

If you want to make an Coinbase Pro account, then you’ve to register a standard Coinbase account and send them your proof of identity and proof of address. However, if you are already a Coinbase account holder you can easily log-in to Coinbase Pro with your Coinbase credentials and you’ll be registered.

Does Coinbase Pro cost money?

Coinbase Pro operates a maker-taker fee model, this means they have two fee rights based on whether you’re taking liquidity from the exchange or are making liquidity. ‘Taker’ are those who place an order at the market price and gets filled immediately. Whereas, ‘Maker’ are those who place an order and are not immediately matched.

Can I upgrade to Coinbase Pro?

Yes. To have more control over the buy and sell exchanges, you’ve to upgrade your account to Coinbase Pro, and it doesn’t costs anything.