Coinbase will shut down Coinbase Pro to merge trading services

Coinbase will shut down Coinbase Pro to merge trading services

Coinbase’s professional trading platform, Coinbase Pro will cease to exist as the cryptocurrency exchange is restructuring its services to integrate them all into one platform.

US exchange Coinbase officially announced on June 22 that it will begin the Coinbase Pro shutdown process to migrate all advanced trading services to a unified Coinbase account.

Coinbase Pro services will migrate to “Advanced Trade”, Coinbase’s new trading section available on the exchange’s main website, Coinbase.com. The section initially launched in March 2022, providing traders with in-depth analysis and live trading directly on Coinbase.

According to the announcement, Advanced Trade will offer the same volume-based commissions as Coinbase Pro. Depending on volumes and taker or creator orders, Coinbase Pro commissions range from 0% to 0.6%, based on data available on the official Coinbase website.

The migration from Coinbase Pro to Advanced Trade will take place gradually over the next few months as the exchange continues to release new updates for Advanced Trade.

Coinbase noted that it will notify its customers of the exact dates of Coinbase Pro’s demise, adding:

“For customers who have funds in Coinbase Pro, there is no action to take – the funds will remain safe in Coinbase. In the meantime, customers can start using Advanced Trade on the Coinbase mobile app and on Coinbase.com.”

According to the announcement, the migration aims to simplify the trading process on Coinbase by allowing professional traders to access advanced trading tools and use general Coinbase features in one place, using a single balance. “In the past, more experienced traders have used Coinbase Pro for deeper trading and analysis. But to use other Coinbase features, they had to transfer funds to their main Coinbase account,” the firm said.

Read:  Tax incentives for gasoline threaten the quality of public services

Launched in 2012, Coinbase is a publicly traded company and is one of the largest cryptocurrency trading platforms in the world. The company launched Coinbase Pro in 2018, aimed at professional investors and focused on expanding trading services, providing exposure to more cryptocurrencies.

Coinbase’s original platform was aimed primarily at beginners and reportedly offered some 100 cryptocurrencies, while Coinbase Pro offered exposure to more than 250 digital assets. Coinbase Pro also offers unlimited trading amounts, while the trading volume of the original general Coinbase platform is limited based on payment methods and countries.

Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.

Keep reading:

Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.