Coinbase vs. Coinbase Pro: Is the Upgrade Worth It?

Coinbase app showing Bitcoin price at 15000 dollars
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Coinbase and Coinbase Pro are well-known cryptocurrency exchanges in the decentralized finance universe. While Coinbase is aimed at beginners due to its simplicity and user-friendly interface, Coinbase Pro is ideal for advanced and active traders.

In this Coinbase vs. Coinbase Pro comparison guide, we take a look at the similarities and differences between these exchanges to determine if the latter is worth the upgrade.

We reviewed some integral features of both platforms, such as usability, fees, security and supported transaction types. Further, we assessed the mobile app features of each.

Coinbase vs. Coinbase Pro: A Quick Glance

If you want a quick analysis of both exchanges, here is a table summarizing their notable features:

Features Coinbase Coinbase Pro
Usability Best for beginners Ideal for active traders and advanced users
Supported Cryptocurrencies 50+ 50+
Transaction Types Buying, selling, exchanging and receiving Buying, selling, withdrawing, depositing and trading. Also supports time in force orders, limit orders and stop orders
Security Features -Two-step verification
-Insurance for an instance in which a Coinbase breach occurs
-Biometric fingerprint login
-AES-256 encryption for digital wallets
-FDIC insurance for USD balances
-Two-step verification
-Insurance for an instance in which a Coinbase breach occurs
-Biometric fingerprint login
-AES-256 encryption for digital wallets
-FDIC insurance for USD balances
Maximum Trading Amount Depends on the region and payment method Unlimited
Fees -0.50% for each trade
-3.99% for credit card purchases
-1.49% for bank account or Coinbase wallet purchases
0% to 0.50% for each trade

Building Wealth

As you can see, there are a lot of similarities between the two, but with a more comprehensive interface and lower fees per trade, Pro is designed for advanced users and active traders.

Mobile Apps

The Coinbase mobile app is available for Android and iOS. It allows you to do the following:

  • Send Bitcoins: You can send Bitcoins to your buddies. Likewise, the app lets you send the crypto to merchants who accept Bitcoin as a form of payment.
  • Request Bitcoin: You can also request Bitcoins from your friends through the app.
  • Access Accounts: The app lets you access your Coinbase vaults and wallets. Plus, you can check the transaction details.
  • Buy and Sell: All you have to do is connect the app to your bank account. Then, you can buy and sell Bitcoin on the go.

The Coinbase Pro mobile app was launched in October 2019, and the company released the Android version a few months later in July 2020. It includes all the basic features of the Coinbase app, plus:

  • Real-time candlestick charts
  • Depth charts
  • Advanced order types
  • Intuitive shortcuts
  • Order books

The Coinbase Pro app is available to customers in over a hundred countries worldwide.

Transactions

Both platforms allow transactions, such as receiving, sending, buying and selling. However, Coinbase Pro has some additional options, such as margin orders, limit orders and stop orders.

User Education

Both options come with a wide range of video tutorials, guides and how-to articles to help crypto enthusiasts learn about market trends and stay updated.

Availability

Coinbase and Coinbase Pro are available in more than 100 countries. However, some transaction types are restricted in certain regions.

Coinbase vs. Coinbase Pro: Supported Currencies

Both Coinbase and Coinbase Pro offer more than 50 cryptocurrencies for you to choose from. They also accept fiat currencies for purchases, like euros, U.S. dollars and British pounds.

Some popular altcoins on the platforms include Ethereum, Litecoin, Bitcoin Cash, Uniswap, Aave and Stellar Lumens.

Coinbase vs. Coinbase Pro: Fees

The biggest difference between Coinbase and Coinbase Pro is the fee structure. Coinbase is more expensive than the Pro version.

Building Wealth

Meanwhile, Coinbase Pro is cheaper, and fees differ based on the amount of the transaction. Here is how it works:

  • On a transaction less than $10,000, you will pay a taker fee of 0.50%
  • On a transaction of $10,000, you will pay a taker fee of 0.35% fee
  • On a transaction of $50,000 to $100,000, you will pay a 0.15% maker fee or 0.25% taker fee
  • On transactions amounting from $100,000 to a million, you pay 0.10% maker fee and 0.20% taker fee

The taker fee is 0.01% and maker fee is 0% for these stable pairs on Coinbase Pro:

  • DAI – USDC
  • DAI – USD
  • PAX – USD
  • PAX – USDT
  • USDC – EUR
  • USDC – GBP
  • USDT – EUR
  • USDT – GBP
  • USDT – USDC
  • USDT – USD
  • WBTC – BTC

If you want to avoid fees, it would be best to trade on Coinbase Pro. When trading on Coinbase, your fees can quickly add up.

Suppose you spend $100 to buy cryptocurrency on both platforms. On Coinbase, if you purchase altcoins using your cryptocurrency, you will be charged a 3.99% fee, which is around $4. If you use another method, the fee is $2.99.

Coinbase Pro would only charge 0.50% for this transaction — just 50 cents.

Coinbase Pro Fiat Currency Deposit and Withdrawal Fees

The table below shows the fees on depositing and withdrawing fiat currency from your Coinbase Pro account:

Currency Type Deposit Withdrawal
ACH $0 $0
Wire (USD) $10 $25
SEPA (EUR) €0.15 €0.15
Swift (GBP) $0 £1 GBP

Coinbase Pro does not charge any fee for signing up. You do not have to pay any fees for holding your funds either. You can keep funds in your account for as long as you want.

Coinbase Fees

Coinbase seems to have a fee for just about everything except ACH transfer. Here is how the platform’s fees compare to Coinbase Pro.

Fees Coinbase Coinbase Pro
Bank account 1.49% 0%
Wallet 1.49% 0%
Debit or credit card 3.99% 0%
ACH transfer 0 0%

It is important to note that these fees could fluctuate, depending on the size of your order, market liquidity and volatility. The fees will be calculated when you place your order.

Coinbase vs. Coinbase Pro: Security

The security on Coinbase and Coinbase Pro is the same. Both platforms are insured by the Federal Deposit Insurance Corporation’s for up to $250,000 [14].

Moreover, all accounts have biometric fingerprint logins and two-factor authentication. Coinbase also has an insurance policy that covers losses in case there is a breach of its facility.

Coinbase vs. Coinbase Pro: Usability

Both platforms are easy to use and very accessible. With either service, you can use either the web browser or mobile app to conduct transactions.

Since Coinbase only has basic transactions like buying, selling and exchanging, it is easier to use for beginners. Meanwhile, Coinbase Pro has more features and information. It might seem daunting to beginners and could be overwhelming if the user is not educated on advanced crypto trading.

However, it is easy to get the hang of both platforms after using them for a short while.

Is Coinbase Pro Worth the Upgrade?

Coinbase has all the features that someone just jumping into the crypto market could possibly need. Coinbase Pro, on the other hand, is worth the upgrade for users who are familiar with advanced features and understand how limit, stop and margin orders are imposed on their assets.

If you are a beginner, Coinbase Pro may be too intimidating for you. Similarly, Coinbase could be restrictive for users who want to explore every avenue of crypto trading.

If you want to save money on fees and feel comfortable navigating an advanced interface, Coinbase Pro may be the right choice for you.

GOBankingRates’ Crypto Guides

About the Author

Scott Jeffries is a seasoned technology professional based in Florida. He writes on the topics of business, technology, digital marketing and personal finance. After earning his bachelor’s in Management Information Systems with a minor in Business, Scott spent 15 years working in technology. He's helped startups to Fortune 100 companies bring software products to life. When he's not writing or building software, Scott can be found reading or spending time outside with his kids.

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