Closing Coinbase Pro and merging trading services

Closing Coinbase Pro and merging trading services

With support for more than 250 cryptocurrencies, Coinbase Pro was introduced in 2018 and is intended to offer unlimited trading volumes.

As the bitcoin exchange restructures its services to consolidate them into a single platform, Coinbase's professional trading platform Coinbase Pro will be discontinued.

On June 22, the American cryptocurrency trading platform Coinbase formally announced that it would begin sunsetting Coinbase Pro in order to consolidate all sophisticated trading features into a single Coinbase account.

The services offered by Coinbase Pro will move to Advanced Trade, the exchange's new trading component accessible via Coinbase.com. When it was first introduced in March 2022, the area offered traders in-depth analysis and real-time trading on Coinbase.

The release states that Advanced Trade will charge the exact same volume-based fees as Coinbase Pro. Data from Coinbase's official website at the time of writing indicates that Coinbase Pro's fees range from 0 percent to 0.6 percent depending on volumes and taker or maker orders.

As the exchange continues to roll out new updates to Advanced Trade, the impending transfer of Coinbase Pro to Advanced Trade will happen gradually over the next months.

The transfer, according to the release, intends to streamline the Coinbase trading process by enabling professional traders to use cutting-edge trading tools and utilise standard Coinbase services in a single location while using a single balance. For more in-depth trading and analysis in the past, advanced traders used Coinbase Pro. However, you have to move money to your main Coinbase account in order to enjoy additional Coinbase features, according to the company.

One of the biggest cryptocurrency trading platforms in the world, Coinbase was established in 2012 and is a publicly traded firm. In order to provide access to more cryptocurrencies, the business introduced Coinbase Pro in 2018, concentrating on enhanced trading services and professional investors.

While Coinbase Pro offered access to more than 250 digital assets, the initial Coinbase platform, which purportedly supported about 100 coins, was primarily designed for newcomers. Additionally, the trading volume on Coinbase Pro is limitless, unlike the original general Coinbase platform, which has a cap based on payment methods and geographical locations.