Coinbase Pro Review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Coinbase Pro (previously GDAX) consists of four parts: general information, fees, deposit methods and security.
Coinbase Pro is an American cryptocurrency exchange. Some of you may have heard of GDAX. Well, this is GDAX. The name change took place in July 2018, following which it will hereinafter be known as Coinbase Pro.
As Coinbase Pro is an American cryptocurrency exchange, US-investors can freely trade at this exchange as well. America is in many ways the ruler of cryptocurrency right now. It has a very impressive number of cryptocurrency exchanges and a large part of the everyday cryptocurrency trading occurs on American exchanges or on other exchanges but involving American traders. A few of the cryptocurrency exchanges coming from the USA are Coinbase, Gate.io, Paxful and Bitquick.
Coinbase Pro prides itself on offering institutions and professionals the ability to trade a selection of digital currencies like Bitcoin, Ethereum, and more on a regulated exchange. This is a big difference from most other exchanges, as most other exchanges are not regulated.
Coinbase Pro has extremely high liquidity which is helpful for all cryptocurrency investors trading here. The exchange has many advanced trading functions. For instance, you can do leveraged trading of up to 500:1. To our knowledge, there are no other exchanges offering a leverage this high.
Coinbase Pro Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Coinbase Pro:
Coinbase Pro Fees
Coinbase Pro Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade, and the taker, who places the order that matches (or “takes”) the maker’s order. Makers make the liquidity in a market. Takers remove this liquidity by matching makers’ orders with their own.
This exchange’s trading fees for takers are 0.30%. This fee is slightly above the industry average. The industry average is arguably around 0.25%.
However, Coinbase Pro does not charge any fees for makers at all, thus promoting the liquidity at the exchange. This is a very strong competitive edge in the market and is especially beneficial for the investors not interested in picking up existing orders from the order book but rather prefers to “go fishing” with maker-orders.
Coinbase Pro Withdrawal fees
Furthermore, the exchange does not charge any withdrawal fees at all for withdrawing cryptocurrencies. This is a very strong competitive edge in the market and really distinguishes this exchange from most other top crypto exchanges.
Coinbase Pro offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.
Coinbase Pro Security
One might ask why security is even a feature that we at Cryptowisser have looked for at the different top crypto exchanges. Two reasons:
- Exchanges store a massive amount of valuable personally identifiable information.
- Exchanges handle a large amount of cash or a large number of coin deposits and withdrawals.
Coinbase Pro’s security score is A+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). There is only a few other exchanges out of the 350+ tested that has received this grade. A+ is accordingly a very impressive security score.
Liquidity is something very important for all exchanges, cryptocurrency exchanges but also regular stock market exchanges. The above exchange does indeed have great liquidity. However, the following 10 cryptocurrency exchanges are also regularly among the cryptocurrency exchanges with the absolutely best liquidity in the world: