It is common for advanced traders to transfer from Coinbase to Coinbase Pro. This can be due to so many reasons. Coinbase is beginner friendly, so it is common to find beginners signing in to Coinbase. However, as they advance, they will want to transfer to Coinbase Pro.
Coinbase Pro shares some features with Coinbase, especially in terms of security. When you migrate from Coinbase to Coinbase Pro, you won’t notice much difference in the features. So, if you wish to transfer from Coinbase to Coinbase Pro, you won’t find it hard to migrate. With your experience in Coinbase, you can easily navigate and have a good experience with Coinbase Pro.
This article will discuss how to transfer from Coinbase to Coinbase Pro.
Can you transfer from Coinbase to Coinbase Pro?
It is possible to transfer any part of your portfolio from Coinbase to Coinbase Pro. You may want to do this transfer for a variety of reasons.
Maybe you opened a Coinbase account when you were a beginner in crypto. Coinbase has an easy user interface that is beginner friendly and has tutorial lessons to guide new users. Due to that, many new traders and beginners always use Coinbase.
Now, you have advanced in crypto and want to switch to Coinbase pro because of its higher feature. Coinbase Pro allows you to switch from a buy-and-hold investment strategy to a higher-volume trading strategy. You can also switch to Coinbase Pro to get more detailed information about your crypto assets.
So, it is possible to transfer from Coinbase to Coinbase Pro.
How to transfer from Coinbase to Coinbase Pro.
Coinbase and Coinbase Pro accounts are linked together, but they operate with separate wallets. So, to switch to Coinbase pro, you will transfer from Coinbase to Coinbase Pro.
This is how to transfer from Coinbase to Coinbase Pro.
Step 1 –
To log into Coinbase Pro, you will need your Coinbase credentials. Log in using your Coinbase username and password.
Step 2 – Go to the Coinbase pro trading page.
After you log in, navigate to the Deposit button to deposit your assets into your Coinbase Pro account. You will find it on the portfolio page under the wallet, specifically on the left-hand side. When you click on deposit, a pop-up window will appear.
Step 3 – Select the coin you want to deposit into Coinbase Pro
After you click on deposit, you will be asked to select the type of currency you want to deposit to your Coinbase pro. It could be BTC, ETC, or others). You can also search for a specific currency if you can’t find the one you are looking for.
Step 4 – Select your Coinbase Account
In the drop-down box that will appear, click on Coinbase wallet. The available balance in your Coinbase wallet will appear. You will decide the balance to transfer from your Coinbase to Coinbase Pro. If you have zero balance, you will have to go back to your Coinbase wallet and fund it.
Step 5 – Select Deposit at the bottom of the window
Select source ( your source is the Coinbase wallet you want to transfer from), enter the Amount (the amount you wish to transfer), and click on the Deposit >entered amount> button to transfer to Coinbase Pro.
How to transfer from coinbase to coinbase wallet
With the new Coinbase Update launched, you might receive an in-app notification asking you to link your Coinbase to your coinbase wallet. However, before transferring to your Coinbase wallet, you must first link your account to Coinbase Wallet.
To do this, go to the notification you received from Coinbase. Click on Connect Now in the notification. If you no longer have access to the notification, go to Coinbase settings and select Connect to Coinbase.
Once you have linked your account, you can transfer your funds from Coinbase to your Coinbase wallet.
This is how to transfer from Coinbase to Coinbase wallet.
- Open Coinbase Wallet on your mobile device
- Tap Buy
- Select the supported asset you wish to transfer
- Enter the amount you want to transfer from your Coinbase account.
- Select the box to select how you would like to pay and ensure ‘Coinbase balance” is selected.
- Click preview send
- Review the transaction details, including any fees, and click confirm.
Transfer from Coinbase to Coinbase Pro fee
Transferring your assets from Coinbase to Coinbase Pro does not attract any fee. You can do that at a zero fee. However, if you are transferring from your Coinbase to another cryptocurrency exchange, it will attract a transfer fee.
What is Coinbase?
Coinbase is a trading and investing platform where users can buy, sell and exchange up to 100 cryptocurrencies like Ethereum, Bitcoin, and Dogecoin. Beginners find Coinbase easy to use because of the easy-to-use interface.
In 2012, Coinbase was founded to send and receive Bitcoin. Over the years, the company grew and now supports numerous unique cryptocurrencies. On Coinbase, you can get anything you need to begin and manage a cryptocurrency portfolio.
The cryptocurrencies available on Coinbase include Bitcoin (BTC), Solana (SOL), USD Coin (USDC), Ethereum (ETC), Cardano (ADA), Uniswap (UNI), Litecoin (LTC), Algorand (ALGO), Stellar Lumens 9XLM), Polygon (MATIC), DAI (DAI), SushiSwap (SUSHI)
Pros of Coinbase
- Easy to use for beginners – Coinbase was designed in an easy way to soothe beginners. The mobile app and website are easy to navigate, and you can buy, sell, and exchange cryptocurrencies. People with zero knowledge can navigate and handle Coinbase with zero to little guidance.
- Earn interests – On Coinbase; you can earn interest on eligible balances or get a small amount of a new currency using Coinbase Earn.
- Coinbase supports many cryptocurrencies – Coinbase supports over 100 currencies for trading, and they keep adding more currencies.
- Low fee with Coinbase Pro – You can switch to Coinbase Pro at any time with zero transaction fees.
Cons of Coinbase
- High transaction fees – Coinbase charges high fees for different transactions.
- Unreliable customer service – Coinbase gets so many bad reviews for its poor customer service.
What is Coinbase Pro?
Coinbase Pro is an advanced cryptocurrency platform owned and managed by Coinbase. Coinbase Pro was popularly known as GDAX. It was designed mainly for advanced users like more experienced retail and professional traders. Coinbase Pro allows high-volume and advanced trades. Coinbase Pro benefits from many features of Coinbase, like strong security, ease of use, and strong liquidity.
Coinbase Pro was launched in January 2015 and was designed for institutional traders and professional retail.
Coinbase Pro, originally known as GDAX, announced that it was removing the GDAX brand in 2018 and transferred all its clients to Coinbase
Pros of Coinbase Pro
- Smooth transaction with Coinbase – There is a smooth transaction between Coinbase and Coinbase Pro. The same company manages Coinbase as Coinbase Pro. So if you already have a Coinbase account, you can log into Coinbase Pro with the same details. Also, you can instantly transfer your funds between Coinbase and Coinbase Pro wallets at zero charges.
- About 29 cryptocurrencies – Coinbase Pro allows trade with about 29 cryptocurrencies. You can buy and sell bitcoin on Coinbase Pro and trade other altcoins like Litecoin, Ethereum, bitcoin cash, and other new coins listed on Coinbase Pro.
- Coinbase prime for professionals – Coinbase Pro made Coinbase prime available for institutional cryptocurrency investors. Cooperate professionals can open a Coinbase prime account.
- Secure exchange -Since Coinbase manages Coinbase Pro, it enjoys the high-security measures that Coinbase provides. Coinbase has high security, and it has never been hacked. There is also a provision for Cold storage.
Cons of Coinbase Pro
- Not suitable for beginners – Coinbase Pro was not designed for beginners. It is most suitable for experienced traders. If you are a beginner, you might find it hard to navigate or trade on Coinbase Pro because of its advanced features and complex trading options.
- Coinbase has a higher fee than other platforms – The fees of Coinbase are lower than that of Coinbase. However, it charges a high fee when compared to the competitors.
- Coinbase Pro has slow support – The number of users of Coinbase Pro keeps increasing, so getting support when encountering challenges can prove difficult.
- Limited indicators and overlays for charts – Coinbase Pro has more advanced features than Coinbase, but it is still limited in that it has only two indicators and overlays for charts.
Coinbase has nearly the same features as Coinbase Pro, the only difference being the advanced features that Coinbase Pro has. If you already have a Coinbase account, you can transfer from Coinbase to Coinbase Pro with zero fees.
Coinbase Pro is suitable for you if you are an advanced trader that wants to trade using advanced features. It is also suitable for large firms.
Although Coinbase Pro has advanced features compared to Coinbase, it won’t be difficult to navigate it.