Coinbase Pro Review

A comprehensive review of the Coinbase Pro platform

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Coinbase Pro

Coinbase Pro

Our Take 

Coinbase Pro offers advanced charting tools and features, and several order types. Its trading fees are also relatively low for high-volume traders in the U.S. and EU. Coinbase Pro's tools and features make it a great option for experienced, active crypto traders and investors. Beginners may want to consider a regular Coinbase account or a different exchange.

  • Pros and Cons
  • Key Takeaways
  • Specifications
Pros and Cons
Pros
  • Low fees for high-volume traders

  • Interactive features designed for experienced traders

  • Instant transactions once cash has been deposited

  • Strong security and regulatory compliance

Cons
  • Not well-suited to beginners

  • Only crypto-to-crypto trading is allowed in some countries

  • Not available to residents of Hawaii

  • Support response times can be slow

Key Takeaways
  • Coinbase Pro can be an excellent choice for experienced crypto traders.
  • Users of the platform enjoy instant transactions and advanced trading tools.
  • Coinbase Pro offers more features and types of orders than Coinbase does.
  • Unless you are an active trader with a lot of capital to work with, Coinbase Pro might not be the right option for you.
Specifications
  • Year Founded 2015
  • Official Website https://pro.coinbase.com/
  • Cryptocurrencies Available 100+
  • Customer Support Help page, chat bot, ticket

Introduction

Formerly known as Global Digital Asset Exchange or GDAX, Coinbase Pro is like the advanced, professional version of Coinbase. The platform supports trading of several of the largest cryptocurrencies by market cap, including Bitcoin, Ether, Litecoin, Cardano, Solana, Dogecoin, and many more.  

Coinbase Pro was designed with the advanced trader in mind, and high-volume traders may appreciate its fee discounts. This platform likely isn’t the best choice for beginners.

No matter which platform you choose, it's important to remember that trading cryptocurrency comes with risks, as this market is known for its volatility. Before getting started, it’s a good idea to understand your own risk tolerance and how you intend to manage the risks associated with trading crypto. You may also want to establish a plan of when to enter and exit each trade. 

Company Overview

The original Coinbase was launched in San Francisco in 2012 by Brian Armstrong and Fred Ehrsam. In 2015, the same company launched Coinbase Exchange, a service for professional traders. The next year, this exchange was rebranded to GDAX. Finally, in 2018, GDAX became Coinbase Pro. 

Coinbase Pro provides advanced tools to professional traders and offers an intuitive user interface. While Coinbase was originally designed for beginners getting started in cryptocurrency, Coinbase Pro was made for those with more trading experience. 

Trading volume data for Coinbase and Coinbase Pro are collected as a whole since both are owned by the same company. Coinbase is the second-largest retail crypto exchange in the world by daily trading volume, with over 6 billion USD worth of crypto changing hands each day.

Though Coinbase Pro is widely available in the U.S., Hawaii-based traders won’t be able to use the platform. There are currently close to 100 cryptocurrencies available to trade on Coinbase Pro, though the availability of crypto-to-crypto trading pairs also varies by country.

Cryptocurrencies That Trade on Coinbase Pro

In total, over 100 different cryptocurrencies can be traded on Coinbase Pro. But users may see more than 100 trading pairs, as markets are grouped into fiat-to-crypto, stablecoin-to-crypto, and crypto-to-crypto categories. 

The top five cryptocurrencies by market volume on the exchange at the time of writing are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Solana (SOL)
  • Shiba Inu (SHIB)
  • Polkadot (DOT)

Coinbase and Coinbase Pro recently added support for Shiba Inu coin (SHIB), the popular meme coin inspired by Dogecoin (DOGE). DOGE also trades on both exchanges. 

Trading Experience

Coinbase Pro makes trading an intuitive and streamlined experience. Its main interface shows a variety of information for the selected market, including:

  • Current market price
  • Candlestick chart
  • Depth chart
  • Order books
  • 24-hour volume
  • User wallet balance and open orders

Users can select different trading pairs through a simple drop-down window. You can also manage payment methods by selecting the tab in the upper-right with your username and profile photo, then clicking “banking.”  

From the main page, users can also deposit or withdraw crypto, add fiat currency to their account, or place a market, limit, or stop order. In the bottom-left, a green or red dot appears, indicating whether or not real-time price data is being streamed. 

The Coinbase Pro mobile app offers the same features as Coinbase Pro for desktop. Mobile app users can enjoy a more streamlined experience while still being able to check their portfolios, see prices, and place trades. 

If you’re someone who is trying to time the market using techniques like technical analysis, you might like Coinbase Pro. Users can view charts, see the exchange’s order books, make deposits, and place trades all from within a single page.

Fees

Fees on Coinbase Pro are favorable for traders who move a lot of money around. For the average person trading less than $10,000 per month, there may be exchanges with lower fees.

Fees for both maker and taker orders are 0.5% for those trading under $10,000 each month. Fees decrease as monthly trading volume increases, with taker fees bottoming out at 0.04% and maker fees at 0% for those trading over $2 billion (view full maker/taker fee structure.)

Payment Method Coinbase Pro Fee 
Bank Account $0 on Coinbase (Coinbase Pro doesn’t have direct deposit – users can buy crypto on Coinbase and send it to Coinbase Pro)
Miner fee for sending crypto transactions  Varies depending on network activity 
Debit/Credit card  3.99% for deposits, $0 for withdrawals 
ACH Transfer  $0 
Wire Transfer  $10 for deposits, $25 for withdrawals 
Purchases  $0 
Trades  0% - 0.5% 

Coinbase Pro does not charge for crypto and ACH deposits or withdrawals, which is a big plus. Often, crypto exchanges charge hefty fees for taking coins off of their platform. Users can also buy crypto using their Coinbase account and then transfer it to Coinbase Pro for no additional charge.

Security

Coinbase Pro takes security seriously. Some top-shelf security measures include:

  • 98% of user funds are held in offline cold storage
  • USD deposits up to $250,000 are FDIC insured
  • Two-factor authentication
  • Wallets and keys are secured using AES-256 encryption
  • Employees are required to undergo a security check and encrypt their hard drives

Coinbase Pro also has a registered BitLicense with the New York Department of Financial Services, which requires annual financial audits.

If you’re someone who is trying to time the market using techniques like technical analysis, you might like Coinbase Pro. Users can view charts, see the exchange’s order books, make deposits, and place trades all from within a single page.

Opening a Coinbase Pro Account

If you already have a Coinbase account, simply visit pro.coinbase.com, click “Sign In,” and enter your email and password. 

If you’re starting from scratch, the process is similar to most crypto exchanges, although Coinbase Pro does go the extra mile when it comes to know-your-customer (KYC) rules and user verification.

To begin, you’ll need to provide a few things, including your:

  • Email
  • Phone number
  • Address
  • A valid government-issued state ID
  • Social Security number (for U.S. customers)

You will then need to verify your email address and phone number. A one-time password or link will be sent, and you’ll be prompted to click the link or enter the password.

To submit your ID documents, you’ll have to either upload existing photos or use your computer’s webcam to take a photo of the front and back of your ID. 

From there, you’ll simply need to link a payment method like a bank or debit card to get started. 

Customer Service

The most common way for customers to contact customer support might be to submit a support ticket through the Coinbase website. 

For general inquiries, Coinbase Pro doesn’t offer phone support with a live agent. Coinbase phone support is only for locking your account due to suspicious activity. 

Coinbase provides product updates through its Twitter account. If there’s an exchange-wide outage, for example, Coinbase might tweet about that. But they don’t interact with customers about account-specific issues on social media for security reasons. 

Customer Satisfaction

Online reviews indicate that several users have experienced frustrations with Coinbase Pro customer support. The exchange has also been known to crash during times of peak market activity, with some users claiming this has resulted in them losing money since they can’t trade when they most need to. 

Some Coinbase Pro users have even complained about hidden fees, or fees being taken for transactions that didn’t go through, although we were unable to confirm this. 

Account Management

Coinbase Pro users can log in and track their portfolio progress through the “portfolios” tab. On this page, it’s possible to create and monitor multiple portfolios, the balances held in each, and the history of deposits and withdrawals. 

Coinbase Pro does have a mobile app. But most traders will probably prefer to use the desktop version, as there are a lot of features that can be accessed from within the same page. 

While existing Coinbase users can log in to Coinbase Pro without creating a new account, existing balances won’t be transferred. Funds held on Coinbase are separate from those held in Coinbase Pro.

How Coinbase Pro Compares to Other Cryptocurrency Companies

Coinbase Pro offers competitive fees for active traders working with large amounts of capital, and its interface is intuitive and easy to use. In terms of customer support, the exchange might be lacking compared to its competitors.

If you’re comparing options, here’s a look at how Coinbase Pro compares to Binance.

Coinbase Pro vs. Binance.us

Binance and Coinbase are the two largest retail crypto exchanges by daily trading volume. Some key differences between the two include: 

  • Binance offers trading fee discounts for holders of its Binance Coin (BNB) exchange token
  • Binance may be a more beginner-friendly exchange, though starting with Coinbase instead of Coinbase Pro could also make sense for beginners
  • Coinbase Pro may have a more intuitive and useful user interface for advanced traders

Those who don’t trade with large amounts of money frequently will likely prefer Binance as its fees are generally lower than those on Coinbase Pro. 

Read the full Binance vs. Coinbase comparison for more information. 

Final Verdict

Coinbase Pro isn’t geared toward those who are new to crypto trading. Not only is the exchange designed for more advanced users, but newer users may be more likely to need help, and Coinbase Pro has limited options for customer support. 

Coinbase Pro’s fees are favorable, but only for those who move large amounts of money through the exchange each month. In general, there are two types of people who might view Coinbase Pro as an ideal option—those who already have a Coinbase account and want the more advanced interface, or those who trade large sums of money regularly.

Methodology 

The Balance is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the top cryptocurrency exchanges for investors of all levels.

Exchanges are only considered for review if they are safe, secure, liquid, and either regulated by a proper agency or entirely decentralized.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. Coinmarketcap.com. "Top Cryptocurrency Spot Exchanges." Accessed Nov. 18, 2021.

  2. Coinbase. "Asset Directory." Accessed Nov. 18, 2021.

  3. Coinbase. "Locations and Trading Pairs." Accessed Nov. 18, 2021.

  4. Coinbase. "Security for Your Peace of Mind." Accessed Nov. 18, 2021.

  5. New York State Department of Financial Services. "Virtual Currency Businesses: Regulated Entities." Accessed Nov. 18, 2021.

  6. Binance. "Trading Fees." Accessed Nov. 18, 2021.