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The professional trading platform Coinbase Pro will be discontinued when the bitcoin exchange consolidates all services onto a single platform.
The United States-based cryptocurrency exchange Coinbase stated on June 22 that it would begin decommissioning Coinbase Pro to consolidate all sophisticated trading capabilities into a single Coinbase account. The functions of Coinbase Pro will transition to Advanced Trade, the new trading part of Coinbase's main website, Coinbase.com. Initially introduced in March 2022, the area provides traders with in-depth information and direct trading on Coinbase.
The release states that Advanced Trade would charge the same volume-based fees as Coinbase Pro. According to statistics on Coinbase's website at the time of writing, Coinbase Pro's prices range from 0 percent to 0.6 percent based on volume and taker or maker orders.
The future migration of Coinbase Pro to Advanced Trade will occur gradually over the next few months as the exchange continues to release additional Advanced Trade enhancements.
Coinbase stated that it would notify consumers of the precise dates for the decommissioning of Coinbase Pro, adding: “For customers holding funds on Coinbase Pro, there is no action to take- funds will remain safe on Coinbase. Meanwhile, customers are welcome to begin using Advanced Trade on the Coinbase mobile app and Coinbase.com.”
According to the release, the move intends to streamline the trading process on Coinbase by giving professional traders access to advanced trading tools and allowing them to use regular Coinbase products from a single location with a single balance. “In the past, advanced traders have used Coinbase Pro for more in-depth trades and analysis. But to use other Coinbase features, you had to transfer funds to your primary Coinbase account,” according to the company.
Coinbase, a publicly listed firm founded in 2012, is one of the largest cryptocurrency trading platforms in the world. In 2018, the business introduced Coinbase Pro, a platform aimed at professional investors focused on enhanced trading capabilities and access to more cryptocurrencies.
The initial Coinbase platform catered mostly to newcomers and supported about 100 cryptocurrencies, whereas Coinbase Pro offered access to over 250 digital assets. Coinbase Pro provides limitless trading volumes, whereas the primary Coinbase platform’s trading volume is limited based on payment methods and geographies.
