Which crypto account is right for you?
Coinbase vs Coinbase Pro: The Biggest Differences
The Coinbase Standard Account and Coinbase Pro are simply two separate account types within the same exchange. Formed in 2012, Coinbase is a crypto exchange offering over 100 assets and serving both individuals and institutions across the globe.
Coinbase and Coinbase Pro best serve crypto traders who want exposure to a variety of assets and features, including crypto wallets and mobile access. The main difference between the two platforms is that Coinbase Pro is specifically designed for advanced users looking for greater trading capabilities. The standard Coinbase account is best suited for merchants who value ease of use.
Costs
0.50% spread for buy/sell trades; transaction fees from $0.99 to $2.99; up to 0.50% for Coinbase Pro
Types of investment
Cryptocurrencies
- Buy, sell or store over 100 cryptocurrencies like bitcoin and dogecoin
- Educational investment resources, mobile access, digital storage and customer support
- Low account minimums
- Can earn rewards for certain cryptocurrencies
- The Coinbase Card allows you to spend crypto or USD anywhere and earn crypto rewards; can deposit your paycheck into your account and convert USD to crypto at no cost
- No crypto futures or margin accounts
- Pay more for lower balances
- Not for users who want external storage wallets designed by personal wallet companies
- High trading and transaction fees
Read our review
- Promotion: Get $5 worth of bitcoins when you join Coinbase
- Features: Coinbase Earn rewards, advanced Coinbase Pro account, user-controlled storage, stablecoins, staking, and institutional trading tools.
- App Store Rating: 4.7 iOS / 4.3 Android
Costs
0.05% – 0.60% handling charge; 0.00% – 0.40% maker fee
Types of investment
Cryptocurrencies
- No minimum account to start
- Traders can access charting tools, real-time order books, trade history and market data
- Trading API allows you to create secure trading bots
- Traders can use limit and stop orders
- Can’t buy crypto with debit card
- Promotion: None at this time.
- App Store Rating: 4.7 iOS / 4.1 Android
Coinbase and Coinbase Pro features and account options also vary.
Is Coinbase for you?
The standard Coinbase account offers access to over 170 cryptocurrencies, including bitcoin, ethereum, dogecoin, litecoin, and many more. You can use a huge range of products, including staking, Coinbase Earn (an educational program that pays you in crypto rewards for taking courses on different cryptocurrencies), Coinbase Borrow, and the Coinbase NFT platform.
Coinbase also offers institutions a variety of services to choose from, including Coinbase Institutional, the Coinbase Prime brokerage platform, institutional-grade offline storage, enterprise services for crypto startups, trading services, and more. Moreover.
Coinbase has also released a beta version of its NFT trading platform, which could be a great option for creators looking to sell digital art and other items, or for collectors looking to buy and/or buy and resell NFTs on the secondary market. The platform also offers no transaction fees for a limited period (see more here).
You can use the Coinbase mobile app on both iOS and android devices.
Read the full Coinbase review by Personal Finance Insider here »
Is Coinbase Pro for you?
Coinbase Pro is ideal for advanced crypto traders who want more in-depth trading tools and features. As with the standard account, you will also have access to over 170 cryptocurrencies. But this account offers so much more.
It includes a websocket feed that provides real-time data, charting tools, and a trading API that allows users to create their own trading bots. Merchants automatically receive $250,000 of FDIC insurance coverage for US dollar balances (this insurance also applies to the basic account).
Account funding methods are more limited when it comes to Coinbase Pro, however. The account typically allows crypto transfers, ACH or SEPA transfers, and wire transfers. With the standard account, however, you can use any of the above methods in addition to debit cards, Apple Pay, etc.
Existing or potential Coinbase users should also note that both accounts rely on the same security measures (two-factor authentication, storage in a crypto vault, etc.). Coinbase and Coinbase Pro’s crypto selection is also essentially identical except for a few assets (like the golem). Additionally, Coinbase Pro traders can also take advantage of limit orders and stop orders.
Coinbase Pro also provides iOS/Apple and google play mobile app.
Read the full Coinbase review by Personal Finance Insider here »
