Coinbase vs. Coinbase Pro: Which Crypto Exchange Is Right for You?
Review
Updated
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Coinbase is one of the most well-known and user-friendly cryptocurrency exchanges. It has three main products: Coinbase, Coinbase Advanced, and Coinbase One. Coinbase Pro was initially created to provide more trading tools for advanced traders. It came with lower fees, so it quickly became a popular alternative to the exchange's default platform.
Now users can easily toggle between Coinbase and Coinbase Advanced. In this breakdown of Coinbase vs. Coinbase Pro, we'll look at how customers can get the best from Coinbase services.
On Secure Website.
Fees:
Variable fees (Coinbase), 0%-1.20% (Coinbase Advanced Trade), $29.99 monthly (Coinbase One)
Account Minimum:
$2
Like Coinbase Pro, Coinbase Advanced has much lower fees than the entry Coinbase platform. To give a quick example, I looked at the fees to buy Bitcoin worth $1,000 on both. On the basic trade function, I'd pay over $35 in fees plus a 1% spread. On Coinbase Advanced, the same trade would cost between $0 and $12. Read our Coinbase review for more information about the platform.
Here's how the fees compare:
The fee structure used for Coinbase Advanced is based on your 30-day trading volume or your balance. It also uses a maker-taker model. Orders that make liquidity, which means those that aren't filled immediately, incur maker fees. Orders that take liquidity, meaning those that are filled immediately, incur taker fees.
Here are the fees for Coinbase Advanced:
| Level | 30 day trading volume or | Asset balance | Maker fee | Taker fee |
|---|---|---|---|---|
| 1 | $0 to $999 | N/A | 0.60% | 1.20% |
| 2 | $1,000 to $9,999 | $500,000 or more | 0.35% | 0.75% |
| 3 | $10,000 to $49,999 | $1,000,000 or more | 0.25% | 0.40% |
| 4 | $50,000 to $499,999 | $5,000,000 or more | 0.15% | 0.25% |
| 5 | $500,000 to $999,999 | $10,000,000 or more | 0.10% | 0.20% |
| 6 | $1,000,000 to $1,499,999 | $10,000,000 or more | 0.07% | 0.16% |
| 7 | $15,000,000 to $74,999,999 | N/A | 0.05% | 0.14% |
| 8 | $75,000,000 to $249,999,999 | N/A | 0.02% | 0.10% |
| 9 | $250,000,000 or more | N/A | 0.00% | 0.08% |
Coinbase and Coinbase Advanced have over 350 cryptocurrency pairs, just as Coinbase Pro did.
Whether you want to trade market leaders or smaller types of cryptocurrency, you'll have plenty of options to choose from. Coinbase is also proactive about expanding its roster and regularly adds new cryptocurrencies. Here are a few of the more popular ones you can trade on Coinbase and Coinbase Advanced:
Coinbase and Coinbase Advanced store your cryptocurrency in custodial wallets. With this type of wallet, Coinbase controls the private keys to your crypto. If Coinbase collapsed, your funds could get caught up in any bankruptcy proceedings. Coinbase Pro worked the same way.
Coinbase also offers a free hot wallet, Coinbase Wallet. A hot wallet is a non-custodial wallet you can download as an app on your computer or phone. If you want full control over your crypto, you can download Coinbase Wallet and store it there. There are also plenty of other quality crypto wallets available.
SEE MORE OPTIONS: Check out Motley Fool Money's list of the Best Crypto Wallets
Compare top exchanges, view our expert reviews, and find the right platform for your needs!
Coinbase is one of the best cryptocurrency exchanges when it comes to security. Since Coinbase and Coinbase Advanced have the same security features, they're equal in this regard, and they're both among the safest places to buy crypto.
Protections offered by Coinbase include:
Coinbase Pro no longer exists. In the matchup between Coinbase and Coinbase Advanced, you don't need to choose one or the other. Use the basic Coinbase platform to get an overview of your holdings and access educational resources. Toggle to Coinbase Advanced when you want to minimize trading fees or access more sophisticated tools. Consider a Coinbase One subscription if you're ready to pay almost $30 for additional support.
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that's right for you, you'll need to decide the features that matter most to you.
To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2022. Check out the list and get started on your crypto journey, today.
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