What Is Coinbase? What Is Coinbase Pro?
Coinbase is a digital currency exchange headquartered in San Francisco, California. It was founded in 2012 and allows users to buy, sell and store various cryptocurrencies such as Bitcoin, Ethereum, Litecoin and more. Coinbase has become one of the most prominent and popular cryptocurrency exchanges in the world because of its user-friendly platform and simple interface.
Coinbase Pro is the advanced version of Coinbase designed specifically for professional traders and investors with more features and capabilities. Coinbase Pro was formerly known as GDAX, and it was rebranded in 2018. Coinbase Pro offers a more sophisticated trading experience, a wider range of trading pairs and allows users to access real-time market data, order books and trade histories.
Coinbase and Coinbase Pro differ in a number of ways. Firstly, the user interface is different, with Coinbase Pro having a more complex and professional dashboard. Secondly, Coinbase Pro provides higher levels of trading volume for users who are looking to trade large amounts of cryptocurrency. Additionally, Coinbase Pro provides lower fees than Coinbase, primarily for high-volume traders.
While Coinbase is an excellent platform for beginners who are just starting to explore the cryptocurrency market, Coinbase Pro caters to experienced traders. Nevertheless, both platforms offer the same fundamental service of exchanging and storing cryptocurrency.
Coinbase is generally considered to be one of the most trustworthy exchanges because it is regulated by regulatory authorities in the United States. Coinbase has also undergone numerous security audits to ensure the safety of its users’ funds. Coinbase and Coinbase Pro ensure the security of users’ funds using a combination of hot and cold storage, which means that a significant portion of customers’ funds are kept offline to prevent hacking.
In conclusion, Coinbase and Coinbase Pro are both important platforms in the cryptocurrency world. Coinbase is great for new users and those looking for an easy-to-use platform, while Coinbase Pro is designed for experienced traders looking for a more advanced interface and high-volume trading. Ultimately, both exchanges serve similar functions, which is to provide a secure and reliable platform for users to trade and store their cryptocurrency.