Exchange Reviews

Coinbase Pro in 6 brief points

Coinbase pro is an established digital asset exchange where users can deposit and or withdraw funds easily and quickly. It’s primarily Bitcoin oriented exchange with significant diversity to its traders. It has relevant and current intel on any trading pair, trading charts, and a raft of useful figures onsite. The platform was previously called GDAX (Global Digital Assets eXchange).

Below are six brief points about Coinbase pro.

1.    Supported payments and countries

Coinbase pro supports payments in currencies such as the euro (EUR) and US dollar (USD). Coinbase pro also accommodates Ethereum (ETH), Litecoin (LTC), and Bitcoin (BTC) crypto coins. Also, the platform has a wide range of trading pairs such as BTC/USD, BCH/BTC, BTC/EUR, BCH/USD, LTC/BTC, ETH/BTC, LTC/EUR, and ETH/USD and is available in Europe, Canada, Singapore, Australia, and the United States.

Coinbase pro accepts payment methods like wire transfer in US dollar, single Euro Payment Area (SEPA) deposits and withdrawals in euros and Automated Clearing House (ACH) bank transfers.

2.    Supported cryptocurrencies

Availability of trading pairs depends mainly on the local regulation within a country. The users of Coinbase pro can view information related to any trading pair and order book; the traders can only trade the pairs that comply with local regulations in their area. In Australia, Singapore, and Canada, available trading pairs are LCT/BTC, ETH/BTC, and BCH/BTC.

In the UK you can trade BTC/EUR, BTC/GBP, ETH/EUR, ETH/BTC, LTC/BTC, BCH/BTC, LTC/EUR or BCH/EUR. Apart from BTC/GBP support, Europe has similar trading pair. United States traders can use the platform to trade ETH/USD, ETH/BTC, BTC/USD, LTC/BTC, LTC/USD, BCH/USD and BCH/BTC.

3.    Fees charged

Coinbase pro

Coinbase Pro operates the maker-taker model on withdrawals and deposits where by makers do not have to pay any fee. By contrast, taker orders are done once at the market. With the platform fees can be divided into multiple order that includes taker order and maker order. Each separate order is charged an appropriate fee with no fees on the maker portion.

4.    Coinbase Pro security

Coinbase pro is confident to be the most reliable and safest exchange. The platform is considered to be less private than other platforms since its account verification requires proof of address and ID photo. 98 percent of customers’ digital currency is kept in cold storage.

5.    Coinbase Pro deposits and withdrawals

Deposits can be made through Bitcoin or fiat currency. However, when you want to deposit fiat, choose your local currency, the bank account will allow you to transfer funds from your standard bank account into Coinbase Pro’s account. The bank account option takes around 3 to 5 business days. For withdrawals, if you are in urgent need of the funds, you can use wire transfer to receive the deposit.

Coinbase pro

To deposit Bitcoin, open the Bitcoin deposit tab then you will see a Bitcoin address both in a QR code and text form. The address can be used to send funds to your Coinbase Pro account. Coinbase wallet allows you to transfer Bitcoin into Coinbase Pro account for trading.

Depositing funds is the exact opposite process of withdrawing funds, and the same options are available. You can withdraw to a Coinbase wallet, to a bank account or cryptocurrency address. You can use a wallet address to transfer your Bitcoin or other cryptos from your Coinbase wallet to another.

6.    Coinbase Pro customer support

Coinbase Pro answers many questions from users in an extensive FAQ section on its leading site. Each page has a submit a request section button at the bottom, where you can reach out to customer support with issues related to ID identification, security, technical questions regarding API, account transactions or any other inquiries.

Conclusion

The popular GDAX exchange is the new Coinbase Pro platform which is intuitive to use and offers charts and tools that professional traders want. The fees are low with no fee for market makers. At the moment, it’s probably the most trusted exchange available with top security measures that insures customer funds stored online. It keeps nearly all the funds in a safe cold storage.

To avoid regular Coinbase fees which are expensive for debit and credit card purchases, using Coinbase Pro is great. You can wire fiat to Coinbase then make your purchase on the professional platform. Coinbase is working on improving customer support which is slow as compared with other cryptocurrency exchanges. When making a deposit or withdrawal from your account, make sure to double check the address before making a large transaction. It’s recommended first to send a small test amount to make sure everything is ok.

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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