In terms of ramps between the traditional financial world and the cryptoverse, Coinbase is one of the largest and most trusted exchanges for newbie crypto investors. Coinbase has seen some rapid growth and now boasts over 56 million users. However, Coinbase has two different platforms which can confuse anybody who is completely new to the space — Coinbase and Coinbase Pro.
There are many differences between the two platforms such as the UX, charting, order types, currency pairs and fees. Coinbase is geared towards new investors with little technical knowledge of crypto or trading and has learning materials and a news feed on its home page. Whereas, Coinbase Pro is tailored towards more seasoned investors who require more tools to satisfy their needs.
The key concern for most investors is the cost and there is a considerable cost difference when trading on both platforms. Lets now have a look at the pricing structures of both in turn:
The fees on Coinbase Pro differ depending on whether you are a Marker Taker or Market Maker. A Market Taker is an investor who is executing a market order on the platform at whatever the current market rate is at the time of the trade and a Market Maker is an investor using limit orders ( e.g. A limit order may specify to only buy $1,000 worth of Bitcoin if the price hits $40,000).
The below table then compares the transaction fee for each platform at a few different levels of transaction size:
If transaction fees are your main concern then it is a no brainer that Coinbase Pro should be the platform to go with. Even for small transactions there is a considerable difference in cost between both platforms (A $100 transaction will cost you $2.49 in additional fees on Coinbase).
Once you can get over the initial learning curve and technical aspects of Coinbase Pro under your belt then there is enough incentive to migrate from Coinbase to Coinbase Pro.
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