Coinbase to close Coinbase Pro to merge trading services

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Coinbase’s professional trading platform, Coinbase Pro, will cease to exist as the cryptocurrency exchange restructures services to consolidate them into one platform.

US-based crypto trading company Coinbase officially announced on June 22 that it will begin terminating Coinbase Pro to migrate all advanced trading services to a single unified Coinbase account.

Coinbase Pro services will migrate to Advanced Trade, the new Coinbase trading section available on the exchange’s main website, Coinbase.com. The section originally launched in March 2022, offering traders in-depth analysis and real trading directly on Coinbase.

According to the announcement, Advanced Trade will provide the same volume-based fees as Coinbase Pro. Depending on volumes and taker or maker orders, Coinbase Pro fees range from 0% to 0.6%, according to data from the official Coinbase website at the time of writing.

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The upcoming migration from Coinbase Pro to Advanced Trade will take place gradually over the next few months as the exchange continues to roll out new upgrades to Advanced Trade.

Coinbase said it will notify its customers of the exact expiration dates for Coinbase Pro, adding:

“For customers holding funds on Coinbase Pro, there is no action to take – funds will remain safe on Coinbase. In the meantime, customers are encouraged to start using Advanced Trade on the Coinbase mobile app and Coinbase .com.

According to the announcement, the migration aims to simplify the process of trading on Coinbase by allowing professional traders to access advanced trading tools and use general Coinbase features in one place, using one balance. “In the past, advanced traders used Coinbase Pro for deeper trading and analysis. But to use other Coinbase features, you had to transfer funds to your main Coinbase account,” the company said.

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Launched in 2012, Coinbase is a publicly traded company and is one of the largest crypto trading platforms in the world. The company launched Coinbase Pro in 2018, targeting professional investors and focusing on extensive trading services, providing exposure to more cryptocurrencies.

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The original Coinbase platform primarily targeted beginners, supporting around 100 cryptocurrencies, while Coinbase Pro offered exposure to over 250 digital assets. Coinbase Pro also offers unlimited trading amounts, while the original Coinbase general platform trading volume is capped based on payment methods and regions.

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