Coinbase Pro and Coinbase are renowned cryptocurrency exchange platforms belonging to Coinbase Global Incorporated. These platforms are the largest regulated exchanges in the US, and they offer protection for deposited funds and purchased digital coins. But how to transfer from Coinbase to Coinbase Pro?
Easy step-by-step transfer process
First, you must note that Coinbase Pro and Coinbase accounts are linked using different built-in wallets. Also, transferring assets from Coinbase to Coinbase Pro is simple and free. To move funds from Coinbase to Coinbase Pro, here’s what you need to do to get started:
Step 1 – Visit the trading page of Coinbase Pro.
Step 2 – Under Wallet Balance on the left, choose Deposit, and you will get a pop-up asking you to select an asset type.
Step 3 – Select the currency in your Coinbase wallet that you want to move to Coinbase Pro, e.g., EUR.
Step 4 – Select Coinbase Account as the payment method on the next pop-up.
Step 5 – Input the amount of EUR you want to transfer from Coinbase to Coinbase Pro.
Step 6 – Click deposit, and your transaction will be completed instantly.
Switching from Coinbase to Coinbase Pro involves the same login, so it’s painless to do. There are options under Deposit to move crypto and fiat from Coinbase. Then you can still use regular Coinbase to take those training and get junk coins to convert to BTC but buy and withdraw at the low rates of Coinbase Pro. You might need to refresh your screen, but it’s instant.
To transfer funds from your Pro wallet to your Coinbase wallet, follow these steps:
- Go to the Coinbase Pro trading page.
- Select Withdraw under Wallet Balance (a pop up window will appear).
- Select the currency type (i.e. BTC, ETC) that you’d like to cash out from Pro to Coinbase
- Select Coinbase Account.
- Enter the amount you would like to cash out from Pro to Coinbase.
- Select Withdraw at the bottom of the window.
Important Note: Transfers between Pro and Coinbase count towards your Pro cashout limit.
So, the answer to the question, Can You Transfer From Coinbase to Coinbase Pro? Yes, you can move any portion of your portfolio to Coinbase Pro at any time and with no additional fees. You may have started your Coinbase account as a rookie crypto investor and then traded using Coinbase Pro. But before you do, here is a review of the differences between the two.
Comparison between Coinbase and Coinbase Pro
Both exchanges options allow users to use fiat currency such as the USD and EUR to purchase several digital currencies. The regular Coinbase account offers simple trading features for beginner investors, while the Pro version provides advanced options for seasoned users.
This guide will initially compare their security features, supported cryptocurrencies, and trading fees structure. Then we will discuss how to transfer from Coinbase to Coinbase Pro.
Coinbase and Coinbase Pro both cater to different types of users, with the former offering features suitable for new crypto investors while the latter is feature-rich for professional traders. Although both platforms allow traders or investors to sell, buy, receive and send crypto easily, they go about this differently. Here are some of the generic and peculiar features of each platform:
Generic Features
Here are some of the features that cut across both exchanges:
Free user education and crypto rewards
Both exchanges feature an in-built user education base on their web and mobile application, designed to help newbies understand the cryptocurrency space. The educational resources available on these platforms are primarily how-to articles, guides, and video tutorials that provide information about market trends and help users stay updated. After consuming educational materials, users will also earn small bonus amounts in rewards.
Built-in Newsfeed
A newsfeed integrated into both exchanges keeps users abreast of recent developments. Alerts and news headlines in the cryptocurrency community are collected here from various websites.
Asset price alert
You can set up a watchlist of digital currencies that notify you of price changes with any platform. If you like, you can configure the price alerts to be delivered to your smartphone, or they can just be displayed in the mobile app.
Digital Wallet
They both offer a secure digital wallet or hot wallet for all your assets. The in-built wallet on these platforms boasts a multilayer security architecture, including recovery phrases and biometric fingerprint logins.
There is also a native iOS and android wallet available to users. You don’t have to be a Coinbase user for the mobile wallet to initiate Coinbase wallet purchases.
Transactions
Both digital currency exchange platforms allow you to seamlessly execute transactions such as buying, selling, receiving, and sending digital assets.
Availability
Coinbase Pro and Coinbase are available to customers in over 100 countries, although with transaction restrictions in some regions.
Coinbase App
Mobile apps for both Coinbase and Coinbase Pro provide an experience close to what you would get in a web browser.
Coinbase Pro Features
Advanced trading options
With Coinbase Pro, you get access to a broader range of trading options and greater control over your crypto investments. In addition to the simple buy, send, receive and sell cryptocurrency options offered by Coinbase, the Coinbase Pro platform includes advanced trading tools like margin orders, stop orders and limit orders to users. Stop directives let you avoid losses by setting preferred sell price, while limit orders allow you to take advantage of price drops by setting a buy point.
Advanced charting tools
Coinbase Pro users can access advanced charting tools such as moving averages, exponential moving averages, and time-based trading views for the cryptocurrencies available on the platform. Like advanced stock charts, the Coinbase Pro trading interface displays the low/high prices within a set timeframe as a candlestick chart. Also, each asset’s opening/closing prices can be viewed on the charts.
Coinbase Pro users can also gain more insights into the performance of individual assets by adding multiple overlays such as the 12-day and 26-day EMA. You can also access your trading history, intuitive shortcuts, and order books on Coinbase Pro.
API Keys
Access to the API keys provided by Coinbase Pro allows other 3rd-party applications to connect to your Coinbase account.
Supported Currencies
Coinbase Pro and Coinbase offer users access to trade, buy and sell over 152 cryptocurrency assets, including over 50 altcoins. Also, both platforms support the use of fiat currencies such as USD, GBP, and EUR. While the global crypto market offers thousands of assets, Coinbase exchange platforms mainly list popular and widely traded ones. It is possible to purchase your preferred coins in dollar amounts with Coinbase offering a minimum order volume of $2. On the other hand, order volumes on Coinbase Pro cannot be lower than 0.1 LTC, 0.001 BTC, 0.01 ETH, or 0.01 BCH.
A list of popular assets supported by both Coinbase Pro and Coinbase include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Dogecoin (DOGE)
- Cardano (ADA)
- Litecoin (LTC)
- Shiba Inu (SHIB)
- Uniswap (UNI)
- Bitcoin Cash (BCH)
- Chainlink (LINK)
- Stellar Lumens (XLM)
- Aave (AAVE)
Although both platforms offer more crypto assets than exchanges like Bitstamp, Korbit, and Gemini, they still trail some of the best exchanges on the market, such as Binance, in terms of trading volumes and asset diversity.
Security Features
Coinbase Global Inc. offers similar security features for Coinbase Pro and Coinbase since their login information is connected. In addition, the security and asset safety standards on the mobile app and website are in line with industry standards. Here’s how the security on both exchanges compares:
FDIC Insurance
Like traditional banks, all USD cash balances on Coinbase and Coinbase Pro are FDIC-protected to the tune of $250K per person. However, the Federal Deposit Insurance Corporation (FDIC) coverage does not extend to crypto assets. Coinbase’s insurance policy covers the loss of funds caused by hacks and security breaches.
Two-factor Authentication
As a Coinbase or Coinbase Pro user, you are guaranteed access to two-factor authentication via the Google Authy app or SMS. This feature is available on a trade-by-trade basis and for login.
In-built Wallet Security
The digital wallets utilized by both platforms boast a high-end encryption technology, including biometric fingerprint logins and encrypted recovery phrases. However, you are charged with setting a solid and secure password for your account on either platform.
Cold Storage and Vaults
Both platforms also store a more significant percentage (98%) of customer funds in cold storage, while the 2% are stored online and backed by the company’s insurance policy. The use of secure cold wallets ensures that user funds are kept out of the reach of hackers. Coinbase and Coinbase Pro also utilize time-locked crypto vaults that require multiple approvals to eliminate the possibility of fraudulent withdrawals.
Address Whitelisting
Crypto address whitelisting is an extra layer of protection exclusive to Coinbase Pro, and it ensures that withdrawals are restricted for addresses not verified or designated by you.
Coinbase Fees
The main difference between Coinbase Pro and Coinbase is the fees structure. Coinbase Pro has considerably lower fees than Coinbase and is designed with active traders in mind. Coinbase Pro has a taker fee and maker fee structure, which means that the more trades you make, the more you save money. Coinbase Pro fees are tier-based and vary with transaction volumes.
Here is a breakdown of the fees structure on Coinbase Pro:
Coinbase charges a base fee of 4% for all transactions in the United States. However, this value varies depending on your payment method (bank account or card), transaction types, and location. The table shows how Coinbase fees compare with Coinbase Pro.
Ease of Use
Both exchanges can be accessed via a web browser or mobile application, depending on your preference. Coinbase offers a simple-to-understand interface that suits beginners, making it easy for newbie traders to jump right in and start investing.
On the other hand, Coinbase Pro features a rather imposing interface because of its advanced trading tools and charting. However, for traders already familiar with cryptocurrency trading, Coinbase Pro gives them more options to utilize.
Conclusion
The Coinbase platform is an excellent place to start if you’re new to the world of cryptocurrencies. You’ll be up to speed in no time, thanks to the system’s intuitive user interface, simple charts, and built-in educational materials. To actively trade crypto, you’ll need Coinbase Pro if you want to take advantage of features like enhanced charting, spot trading, and meager costs.
Also, transferring your assets from Coinbase to Coinbase Pro can be completed securely and efficiently, with zero cost implications. Follow our guide, and you should do just fine.
FAQs on Coinbase
Is there a fee to transfer from Coinbase to Coinbase Pro?
Transferring your fiat currency or cryptocurrencies from Coinbase to Coinbase Pro is free of charge anytime for Coinbase users.
Is Coinbase Pro worth upgrading?
Coinbase Pro is an excellent choice for users with advanced crypto trading skills. It’s a beautiful alternative for managing your cryptocurrency portfolio because of its comprehensive charting, various trading tools, and inexpensive fees.
So, is Coinbase Pro worth the upgrade? Yes, it is worth it for advanced traders.
Is Coinbase Pro free?
Yes, Coinbase Pro is free to register and use.
Are both Coinbase and Coinbase Pro the same?
Both platforms are well-known cryptocurrency exchanges owned by Coinbase Global Inc., and they have several features in common. However, Coinbase Pro offers several advantages over Coinbase with its advanced features.
Currently trading crypto on Coinbase. What is the most reliable way to store/trade crypto?
You can put BTC in cold storage to keep them safe from getting “frozen” due to unstable conditions. Does anyone else feel this way?
What’s the biggest threat to crypto exchanges?
Government regulations on crypto exchanges can make crypto hard to use or even criminalize the use of these coins. Then 98% of the world won’t even bother doing transactions through crypto exchanges.
What’s the effect of war on crypto exchanges?
The devaluation of a specific cryptocurrency by its state backer would increase that currency’s power over others, shaping the global market in its favor.
Why are my funds on hold?
If you see Funds on Hold, it means that these funds are subject to a Coinbase cashout hold and cannot be transferred to Coinbase Pro yet. Although you can use these funds to buy or sell on Coinbase.com (not on Coinbase Pro), transfers or cashouts are restricted until after the hold period. For more information, please visit the Coinbase help page.
Source: https://www.cryptopolitan.com/how-to-transfer-coinbase-to-coinbase-pro/