With such names sounding similar, it can be easy to confuse Coinbase and Coinbase Pro, as both are popular ways to trade cryptocurrencies. Coinbase remains the initial service, while Coinbase Pro raises the advantage in many ways. Each offers a different level of service, cost and features, so cryptocurrency dealers looking to get into the game may want to find out which exchange best suits their needs.
Here’s how Coinbase compares to Coinbase Pro in a few key dimensions and what you need to know.
Coinbase Vs. Coinbase Pro: Trading Commissions and Other Fees
There are some significant differences between the fee structures on Coinbase and Coinbase Pro.
The fee structure for Coinbase may be uncertain because it is not clearly disclosed, and the service charges different fees depending on the size of your purchase and the way you pay for it. Recently, the company has started covering up fees for this level of service, making it harder to see what you’re paying for.
For small transactions, Coinbase includes a margin of 0.5 percent of your retail value, which can make buying and selling prices different from those you see on other services. Some other fees are then charged based on the size of your purchase, as shown in the table below.
Coinbase fee structure:
|$ 10 or less||$ 0.99|
|More than $ 10 and up to $ 25||$ 1.49|
|More than $ 25 and up to $ 50||$ 1.99|
|More than $ 50 and up to $ 200||$ 2.99|
And if you work a little on those numbers, you can see what a big cut Coinbase can handle. For example, if you buy cryptocurrencies worth only $ 10, you will pay a fee of $ 0.99 – well for almost 10 percent of your investment. And that’s on top of the built-in fee you already pay into the expansion margin. Even at $ 200, you still add a fee of $ 2.99, almost 1.5 percent for the purchase.
For purchases over $ 200, Coinbase adds a variable fee instead of its upper fixed fee. (See the table below.) So if you’re buying with a debit card, expect another 3.99 percent to be added to the pile of fees.
Coinbase funding fees:
|American bank account||1.49 percent|
|Coinbase USD wallet||1.49 percent|
|Debit card||3.99 percent|
|Instant card withdrawal||Up to 1.5 percent of each transaction; a minimum fee of $ 0.55|
How does this compare to the fees on Coinbase Pro? Well, Coinbase Pro uses a volume-based sliding scale that is more typical of crypto exchanges, with different rates for those who provide liquidity (creators) and those who take liquidity (also). Your price also depends on the amount in dollars you generated during the previous 30 days.
Coinbase Pro fees
|0 – 10 thousand dollars||0.60 percent||0.40 percent|
|10 to 50 thousand dollars||0.40 percent||0.25 percent|
|50 to 100 thousand dollars||0.25 percent||0.15 percent|
|$ 100,000 – $ 1 million||0.20 percent||0.10 percent|
|$ 1 million – $ 20 million||0.18 percent||0.08 percent|
|$ 20 million – $ 100 million||0.15 percent||0.05 percent|
|$ 100 million – $ 300 million||0.10 percent||0.02 percent|
|$ 300 million – $ 500 million||0.08 percent||0.00 percent|
|$ 500 million +||0.05 percent||0.00 percent|
If you made a $ 200 trade on Coinbase Pro, even with the highest user rate, it would cost $ 1.20. This is a significant difference from what you would pay at the entry level Coinbase store.
Advantage: A clear and huge advantage for Coinbase Pro, and even more for anyone who wants to trade regularly.
Coinbase versus Coinbase Pro: Transparency on fees
For two trading services offered by the same company, their fee transparency cannot be different. Coinbase does not give the public what it needs to know before it becomes a customer. That’s a shame, but not surprising, given the large fees that are extracted from his clients ’wallets, at least in percentages. Yes, Coinbase tells you the fee you will pay just before you trade, but it intentionally avoids sharing its fees until you get there.
Coinbase Pro, on the other hand, does a pretty good job of sharing its fee structure with potential customers. This is also not surprising, given that the structure is largely in line with those offered on other major crypto exchanges, even if it is not always the cheapest among competitors.
Advantage: Coinbase Pro. It’s too hard to trust a service that tries to hide its prices.
Coinbase Vs. Coinbase Pro: Available cryptocurrencies
Coinbase and Coinbase Pro are close when it comes to the number of cryptocurrencies available on their platforms. According to the latest Bankrate calculation, Coinbase offers 174 coins on its platform, while Coinbase Pro lists 158 pairs with US dollars. But both platforms contain the most popular coins – Bitcoin, Ethereum, Dogecoin, Polkadot, Solana and many others. So, unless you are into niche coins, you will find it on any platform.
Coinbase vs. Coinbase Pro: Investing
Investment rewards are a type of income generated by holding a cryptocurrency and helping to support a particular crypto ecosystem. You could think of it as interest on a bank account or a dividend on stocks, but it’s riskier than that kind of income. By investing your coins with a larger group that validates crypto transactions, you could earn even more coins.
At Coinbase, customers can invest their crypto coins, and owners can earn rewards for investing in several coins, including Ethereum, Algorand, Tezos, Cosmos and Cardano. You will need a minimum balance in that specific cryptocurrency to participate and you must keep coins on Coinbase.com. Coinbase will deal with the technical side of things after you sign up and will take a portion of your investment rewards.
Coinbase Pro does not offer investment rewards.
Coinbase v. Coinbase Pro: Custody
Being able to take control of your cryptocurrency – or keep your assets – is a big deal for many digital currency owners. If you trade with some traditional brokers, you will not be able to take custody of the property yourself. Instead, they will be held by another financial institution. This does not suit those who view the cryptocurrency promise as avoiding financial intermediaries.
Both Coinbase and Coinbase Pro allow you to take custody of your property yourself. You can set up a wallet, either a hosted wallet with Coinbase or Pro, or you can bring your own third-party wallet. You can choose the crypto wallet that suits you best, whether you use a hardware or software wallet or you would rather leave your coins on a trading platform.
Coinbase versus Coinbase Pro: ease of use
Coinbase has a relatively simple trading platform. You will basically have to click to buy or sell next to the property you want to buy. It really can’t be much easier, and that could be important to beginners that Coinbase is targeting. It’s a really naked experience.
Coinbase Pro offers a more sophisticated trading platform, with a trading interface that looks intimidating at first glance. You’ll get a trading platform that seems more professional: live price feeds, charts, drawing tools, order books, and trade history. It may seem overwhelming at first, but you’ll quickly discover how to enter your orders and how to find what you need.
Advantage: Coinbase Pro. The trading platform may seem too complex, compared to Coinbase’s simplified interface, but you’ll soon be able to turn around quite easily. Thus, the minimal increase in complexity was quickly outweighed by other features and benefits.
Unless you plan to do very little trading – and maybe even if you do – Coinbase Pro is the real winner here. You’ll get reasonable and transparent prices, as well as other features that make it a little harder to use a trading platform worth the little extra time it takes to learn. Yes, those interested in investing are left out in Coinbase Pro, but is it really worth the much higher percentage you pay for starting Coinbase?