Shutting down of Coinbase Pro and entry of its substitute
Yes. Coinbase is closing its separate platform which it had dedicated to high-level traders and merging all the high-level or advanced features of Coinbase Pro into Coinbase itself. And that section of Coinbase will be known as Advanced trade.
Advanced trade for Coinbase is already available on both mobile and PC providing all the services same as Coinbase Pro with the same volume-based trading fees so Coinbase Pro is surely on the verge of closing.
Why did Coinbase global take this decision?
Though most of the traders who are good and regular in trading mostly use Coinbase Pro since 2018. But, in the last few years, Coinbase Global has been adding some extra advanced features to Coinbase itself. So most advanced-level traders use a combination of features of Coinbase pro and those in Coinbase. So they have to use two apps for doing the same.
So now, what Coinbase Global is doing is that they are migrating all the features which were there in Coinbase Pro to the Coinbase platform so that users will get all the features and benefits in one place and high-level trading would become simple.
Characteristics of Advanced Trade
- Advanced trade will have all the features and benefits similar to the Coinbase Pro platform but all of them will be upgraded which will take the user experience to the next level.
- Advanced trade will have better and more detailed statistical and analysis tools so that the users can study and research the crypto market in a better way.
- Placing market, limit, and stop limit orders will become easier which will ultimately make the liquidity pool deeper.
- All of this will be applicable on a single balance of account so that customers become eligible to access rewards which will get them up to 7% API on all kinds of eligible crypto balances like USDC.
- Advanced Trade will also be powered by an additional infrastructure of a wide range of security features of Coinbase like 24/7 monitoring with facilities of cold storage and YubiKey for mobile.
Conclusion
We have made and presented a full-fledged analysis of the replacement of Coinbase Pro by Advanced Trade. In the end, we would just like to ensure all our readers that this replacement will be of no loss to you people and in fact, it may be beneficial too because of the additional features added. We hope this was a useful blog for you and you enjoyed reading it.
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