In June 2022, Coinbase announced that it would be shutting down Coinbase Pro and replacing it with Coinbase Advanced Trade. This change aimed to bring all advanced trading features under one platform, making it easier for users to access a full range of crypto investment tools without needing to switch between different services. With Coinbase Advanced Trade, users can now trade, stake crypto, and use additional features like the Coinbase Card directly from Coinbase.com or the Coinbase app.
Key Highlights
- Coinbase Advanced Trade replaced Coinbase Pro in 2022.
- The new platform is designed for experienced and professional crypto traders.
- It consolidates all cryptocurrency trading and investment features into one place, offering a more streamlined experience.
What Is Coinbase Advanced Trade?
Coinbase Advanced Trade is an improved trading platform built for professional cryptocurrency traders and investors. It offers more powerful trading tools, deeper market insights, and advanced security features while maintaining competitive, volume-based fees.
Users can take advantage of detailed charting tools, earn up to 4.1% interest on USDC, and receive rewards for staking certain cryptocurrencies, depending on their location. Additionally, they benefit from Coinbase’s strong security infrastructure, ensuring their assets remain safe.
How Did the Switch Impact Trading on Coinbase?
With the transition to Advanced Trade, users now have access to over 500 cryptocurrency trading pairs, which is more than what was previously available on Coinbase Pro. The platform also maintains the same liquidity and order types, making it a seamless upgrade for traders.
Enhanced Trading Tools
Coinbase Advanced Trade integrates technical analysis indicators such as MACD, RSI, and Bollinger Bands through TradingView. This means traders can conduct more in-depth market analysis without needing third-party charting tools, allowing them to stay on the platform while making informed decisions.
Staking and Rewards
One major benefit of Coinbase Advanced Trade over Coinbase Pro is the ability to stake cryptocurrencies like USDC and ETH2 and earn rewards. This feature was not available on Coinbase Pro, making it a valuable addition for long-term investors. However, it’s important to note that staking is not available in all states, so users should check their account settings and verify their eligibility.
Trading Fees
Coinbase Advanced Trade uses a volume-based fee structure, meaning the more you trade, the lower your fees. This setup is designed to benefit active traders who execute high-value transactions frequently.
Security Features
Coinbase Advanced Trade includes several enhanced security measures to protect user funds:
- Cold storage facilities to safeguard digital assets.
- FDIC-insured U.S. dollar balances, ensuring cash deposits are protected.
- YubiKey support for stronger two-factor authentication.
- Coinbase Vaults to store funds securely with additional security layers.
How to Get Started with Coinbase
If you’re new to Coinbase and want to begin trading or investing in cryptocurrency, you can sign up for an account at Coinbase.com or download the Coinbase mobile app.
Steps to Create a Coinbase Account:
- Go to Coinbase.com and click on Sign Up (or open the mobile app).
- Enter your full name, email address, password, and location, then click Create Account or Sign Up on mobile.
- Verify your email by clicking on the link sent to your inbox.
- Add your mobile number, enter the verification code sent via SMS, and confirm.
- Provide additional personal details for identity verification, including employment and source of funds.
- Upload a government-issued photo ID to complete the verification process.
- Enable two-factor authentication (2FA) to add an extra layer of security.
- Link a payment method, such as a bank account or debit card, to fund your account.
Once your Coinbase account is set up, you can access Advanced Trade by selecting “Advanced Trade” in the Trade menu on the mobile app or visiting Coinbase Advanced Trade on your browser.
Understanding Advanced Trading on Coinbase
Coinbase Advanced Trade is tailored for experienced traders looking for a professional trading experience with advanced tools and lower fees.
Difference Between Coinbase Advanced Trade and Coinbase One
- Coinbase Advanced Trade is a trading platform designed for professionals, offering advanced tools, lower fees, and better market analysis features.
- Coinbase One is a subscription-based service that offers benefits like zero trading fees, priority customer support, and higher staking rewards.
How to Switch to Coinbase Advanced Trade
Switching to Advanced Trade is simple:
- On the mobile app: Toggle the Advanced Trade option in the settings.
- On a desktop: Click on your profile picture, then select “Switch to Advanced Trade.”
Final Thoughts
Coinbase Pro was officially replaced by Coinbase Advanced Trade in 2022 to offer a more integrated and efficient trading experience. The new platform provides access to 500+ cryptocurrencies, 237 USDC trading pairs, and an extensive range of technical analysis tools to help traders make better decisions. With staking rewards, advanced security, and low trading fees, Coinbase Advanced Trade is a strong alternative for serious crypto traders.
If you’re looking for a platform that combines trading, staking, and advanced security features in one place, Coinbase Advanced Trade is the way forward.
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