Coinbase to phase out its professional trading platform

abdelaziz Fathi

Nasdaq-listed crypto exchange operator Coinbase has revealed plans to phase out its professional trading platform, Coinbase Pro, in the next few weeks.

Coinbase

Later this year, Coinbase will migrate all advanced trading into one unified Coinbase account. Per its statement, the move aims to bring customers access to features like staking, Borrow, dapp wallet, and Coinbase Card from a single platform balance.

Over the coming weeks, Coinbase Pro’s services will migrate to Advanced Trade in the exchange’s mobile app along with other improvements to make the new trading section an upgrade. Plus, user will get the same low, volume-based fees as Coinbase Pro for higher volume trading.

Explaining the rationale behind the move, the popular exchange said many customers rely on Coinbase Pro and Coinbase.com for overlapping sets of features. However, they often experience friction when transferring balances back-and-forth between the two products. To resolve this friction, Coinbase has rebuilt the full Coinbase Pro advanced trading experience within its mobile app and website.

“Meanwhile, on Coinbase.com and the Coinbase app, we have been adding advanced crypto features to foster deeper engagement with the cryptoeconomy, such as staking, Borrow, dapp wallet, and Coinbase Card, in addition to improvements to our core trading experience. We’ll notify customers again when we are ready to share concrete dates for sunsetting Coinbase Pro,” the statement reads.

Launched in March, Advanced Trade offers the same tools as Coinbase Pro, like interactive charts powered by TradingView, advanced order types, and real-time order books. It also offers improved order flows to make it easier to place market, limit, or stop limit orders directly on Coinbase exchange.

Advanced Trade is also augmented by additional security infrastructure like 24/7 monitored cold storage facilities, USD held at FDIC-insured institutions, YubiKey for mobile, and vaults.

The biggest difference between Coinbase and Coinbase Pro was their user interface. The retail-focused platform offers a clean, simple way to buy and sell cryptocurrency with only a few options for placing orders.

On the other hand, the professional terminal gives users advanced charting and trading options.  But in order to use other Coinbase features, you had to transfer funds to your primary Coinbase account. With the launch of advanced trading, customers will be able to access sophisticated trading tools and leverage more Coinbase features in one place, with one balance.

Read this next

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

“The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

<