The cryptocurrency trading company with headquarters in the US made the official announcement on Wednesday that it will begin sunsetting CP in order to consolidate all sophisticated trading services into a single Coinbase account.
The services offered by Coinbase Pro will move to Advanced Trade, the new trading area available on the exchange’s website. When it was first introduced in March 2022, the area offered traders in-depth analysis and real-time trading on Coinbase.
The release states that Advanced Trade will charge the exact same volume-based fees as CP. Data from Coinbase’s official website at the time of writing indicates that Coinbase Pro’s fees range from 0 percent to 0.6 percent depending on volumes and taker or maker orders.
As the exchange continues to roll out additional, pre-planned updates to Advanced Trade, Coinbase Pro will progressively migrate to this service over the coming months.
For customers holding funds on Coinbase Pro, there is no action to take- funds will remain safe on Coinbase. Meanwhile, customers are welcome to begin using Advanced Trade on the Coinbase mobile app and Coinbase.com.
The transfer, according to the release, intends to streamline the Coinbase trading process by enabling professional traders to use cutting-edge trading tools and utilize standard Coinbase services in a single location while using a single balance. For more in-depth trading and analysis in the past, advanced traders used CP. However, you have to move money to your main Coinbase account in order to enjoy additional Coinbase features, according to the company.
One of the biggest cryptocurrency trading platforms in the world, Coinbase was established in 2012 and is a publicly traded firm. In order to provide access to more cryptocurrencies, the business introduced CP in 2018, concentrating on enhanced trading services and professional investors.
While CP offered access to more than 250 digital assets, the initial Coinbase platform, which purportedly supported about 100 coins, was primarily designed for newcomers. The trading volume on the standard Coinbase platform is restricted based on payment methods and geographical locations, but Coinbase Pro offers limitless trading sums.
- Coinbase Review: The Complete Guide to the World’s Most Popular Cryptocurrency Exchange
- Coinbase Pro Sell Orders Increase in Size As Bitcoin Price Trends Sideways
- Coinbase Pro: Adds Polkadot as Institutional Interest Grows
- Chainlink (LINK) trading volume briefly surpassed Bitcoin on Coinbase
- Shiba Inu coin (SHIB) dumps after Coinbase Pro snub