Coinbase’s professional trading platform Coinbase Pro will cease to exist as the cryptocurrency exchange restructures its services to combine them all on one platform.
American cryptocurrency trading company Coinbase officially announced On June 22, it will begin the closure of Coinbase Pro to move all advanced trading services to one unified Coinbase account.
Coinbase Pro services will be migrated to Advanced Trade, the new Coinbase trading section available on the exchange’s main website Coinbase.com. The section was originally launched in March 2022, providing traders with in-depth analysis and actual trading directly on Coinbase.
According to the announcement, Advanced Trade will provide the same fees based on volume as Coinbase Pro. Depending on the volumes and orders of the taker or maker Coinbase Pro commission range from 0% to 0.6%, according to the official Coinbase website at the time of writing.
The upcoming migration of Coinbase Pro to Advanced Trade will happen gradually over the next few months as the exchange continues to release new updates to Advanced Trade.
Coinbase noted that it will notify its customers of the exact dates for closing Coinbase Pro, adding:
“Customers holding funds on Coinbase Pro take no action – the funds will remain safe on Coinbase. Meanwhile, 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 Coinbase trading process by allowing professional traders to access advanced trading tools and use common Coinbase features in one place using one balance. “In the past, advanced traders used Coinbase Pro for more in-depth trades and analysis. But to use other Coinbase features, you had to transfer funds to your main Coinbase account,” the company said.
Coinbase, launched in 2012, is a public company and one of the largest cryptocurrency trading platforms in the world. The company launched Coinbase Pro in 2018, targeting professional investors and focusing on advanced trading services, providing access to more cryptocurrencies.
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The original Coinbase platform was reportedly geared primarily towards beginners. support about 100 cryptocurrencies, and Coinbase Pro provides access to more than 250 digital assets. Coinbase Pro also offers unlimited trading amounts, while the original Coinbase general platform trading volume is limited based on payment methods and regions.
Credit : cointelegraph.com