How long does it take to transfer usd from coinbase to coinbase pro
At a Glance: To transfer from Coinbase to Coinbase Pro: Log into Coinbase Pro > Go to the Coinbase Pro Trading page > Find the coin you want to deposit into Coinbase Pro > Select your Coinbase account > Select “”Deposit”” at the bottom of the page.
There are many reasons why you might want to transfer from Coinbase to Coinbase Pro. Although they are owned by the same company, the two exchange platforms function very differently. There’s a big difference when it comes to Coinbase vs. Coinbase Pro.
If you want to move from a buy-and-hold investment strategy to a higher-volume trading strategy, it is worthwhile to transfer from Coinbase to Coinbase Pro. If you want more in-depth information about your crypto assets, it is also worthwhile to transfer from Coinbase to Coinbase Pro.
Coinbase Pro as a cryptocurrency exchange only allows bank account, wire transfer, or digital Wallet transactions. It does not accept credit card or debit card purchases. If you want to deposit cash into your Coinbase account, you can transfer it from Coinbase to Coinbase Pro without paying additional fees.
It is very simple to transfer from Coinbase to Coinbase Pro. Simply follow the step-by-step guide provided below.
Can You Transfer From Coinbase to Coinbase Pro?
Yes, you can move any portion of your portfolio to Coinbase Pro at any time and with no additional fees.
You may have started your Coinbase account as a rookie crypto investor. You made use of their simple user interface and their video lessons to increase your knowledge and skills. But now you want more control over your trading decisions and need a more advanced user interface.
Or perhaps you started your Coinbase account when your crypto investing strategy was a buy-and-hold strategy. But now you want to make use of stop orders and limit orders to make more nuanced buying decisions. You want to move to an exchange platform that allows you to make high-volume trading decisions.
How to Transfer to Coinbase Pro
Although your Coinbase and Coinbase Pro accounts are linked, they have their separate wallets. Here’s how you can transfer from Coinbase to Coinbase Pro:
- Log into Coinbase Pro
- Go to the Coinbase Pro trading page
- Find the coin you want to deposit into Coinbase Pro
- Select your Coinbase Account
- Select Deposit at the bottom of the window
We’ll look at each of these steps in more detail below.
Step 1: Log into Coinbase Pro
You can log into Coinbase Pro by using your Coinbase account credentials. Just use your regular Coinbase Username and Password.
Step 2: Go to the Coinbase Pro trading page
You are wanting to deposit assets into your Pro account, so go ahead and find the “Deposit” button. This is usually on the portfolio page under the Wallet and can be found on the left-hand side of the page. Once you select “Deposit”, a pop-up window will appear.
Step 3: Find the coin you want to deposit into Coinbase Pro
Next, you will be prompted to select the currency type (i.e. BTC, ETC) that you’d like to deposit to Coinbase to Coinbase Pro.
You can select a currency type from pre-populated options that include the most popular currencies.
Or you can search for a specific currency if the one you’re looking for is not listed.
Step 4: Select your Coinbase Account
In the drop-down box, click on Coinbase Wallet. You will be able to see the available balance that is in your Coinbase wallet (from Coinbase) that you can transfer to Coinbase Pro. If you do not have any balance in it then jump over to Coinbase and add the funds there. You can also use your PayPal to add money directly to Coinbase.
Step 5: Select Deposit at the bottom of the window
Finally, just select the Source (which will be the wallet you want to transfer from), enter the Amount (which will be the amount you want to transfer), and then finish it off by hitting the Deposit <entered amount> button to transfer to Coinbase Pro.
That’s it! That’s how to transfer from Coinbase to Coinbase Pro!
Coinbase to Coinbase Pro Transfer Fees
If you transfer your Coinbase assets to a different cryptocurrency exchange, you incur a transfer fee. However, you can transfer your Coinbase assets to Coinbase Pro without incurring any fees! If you are looking for a more advanced exchange platform, moving your assets to Coinbase Pro makes a lot of sense.
Pros and Cons for Difference Users
While Coinbase Pro has its advantages, it’s not the best choice for everyone. Inexperienced investors will find the interface and experience complicated. Similarly, if you are employing a buy-and-hold strategy, Coinbase Pro’s high volume, tiered fee schedule might not be the best fit for you.
When choosing a crypto exchange, do your research. Each has its pros and cons and you should choose the exchange that best suits your trading strategy.
Alternatively, you might want to use Coinbase as the platform where you add money to your crypto account using a credit or debit card, or even Paypal. You can then transfer the balance to Coinbase at no additional fee and save money in the long run.
Reasons to Transfer to Coinbase Pro
Coinbase appeals to first-time crypto investors. With its simple user interface, simple charting, and user education built right in, you can learn how to transfer from Coinbase to Coinbase Pro become a crypto expert in no time.
Coinbase’s fee structure means you pay a lot of money per transaction. This is fine if you have a buy-and-hold trading strategy. But if you are wanting to make high volume trades, the fees are prohibitive.
Coinbase Pro, on the other hand, is made for investors who are looking to actively trade crypto. They use a maker-taker fee structure, giving users discounts for the number of trades performed on the platform. These fees start at 0.50% and taper downward for higher volume traders based on monthly trading volume.
Stop and Limit Orders
You can use stop orders and limit orders to make more nuanced buying decisions. Coinbase Pro also gives users advanced charting views. The standard view shows the candlestick chart of the high and low prices within a specific time frame. The advanced view can be set up so that it shows multiple overlays of the exponential moving averages. The improved access to information gives experienced traders more insight into how a cryptocurrency is performing.
For even more control over your crypto trading, Coinbase Pro gives access to their API keys. This means you can integrate third-party apps to integrate with your Coinbase account. You can set up your third-party apps for complete control over your cryptocurrency trading.
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CoinbaseCoinbase ProMain platform featuresEasy to use for beginners and can use PayPal to withdraw or sellAdvanced charting features and crypto-to-crypto trading pairsFees0% to 0.50% per trade, 2.49% for Coinbase card transactions, and various for bank account transactions0% to 0.50% per tradeNumber of cryptocurrencies supported107250+Security featuresTwo-step verification, biometric fingerprint logins, insurance in the event Coinbase is breached, FDIC-insured USD balances, AES-256 encryption for digital walletsTwo-step verification, biometric fingerprint logins, insurance in the event Coinbase is breached, FDIC-insured USD balances, AES-256 encryption for digital walletsTypes of transactions supportedBuy, sell, send, receive, and exchangeBuy, sell, deposit, withdraw, trade, stop order, time in force order, and limit orderMaximum trading amountLimits vary based on your payment method and regionUnlimited
Coinbase vs. Coinbase Pro: Features
The platform caters to different user types, with Coinbase providing features ideal for new investors while Coinbase Pro gives investors the rich feature-set required for busy traders. With Coinbase and Coinbase Pro, you’ll get:
- Mobile apps: Each account type has a highly rated mobile application, offering an experience similar to what you’ll find in the web browser.
- Digital wallet: The Coinbase platform provides a hot wallet with multi-coin support and ways to earn cryptocurrency. You don’t need to be a Coinbase user to use the digital wallet.
- Availability: Various functions are available in over 100 countries with limitations. For instance, if you live in Hawaii, you can’t use the platform, while you can’t sell on the platform in Mexico.
- User education: The platform offers a knowledge base of video tutorials, how-to articles, and guides with market updates.
Coinbase Pro users enjoy advanced features for experienced traders. Its intuitive application offers real-time charting tools with moving averages and exponential moving averages. You can also view your trade history, order book, and price charts.
Transaction types also differ, with Coinbase allowing buy, sell, send, and receive transactions. Coinbase Pro provides advanced options, such as stop order, limit order, and margin orders.
Coinbase vs. Coinbase Pro: Supported Currencies
Both Coinbase and Coinbase Pro support fiat currencies like USD, GBP, and EUR. Plus, you can choose from more than 50 altcoins across both platforms. There are some differences, with Coinbase offering Bitcoin Satoshi Vision (BSV), but it doesn’t support Golem (GNT) or Loom Network (LOOM). You can buy LOOM and GNT on Coinbase Pro but not BSV.
Cryptocurrencies supported by both account types include popular cryptocurrencies such as:
- Ethereum (ETH)
- Litecoin (LTC)
- Cardano (ADA)
- Bitcoin Cash (BCH)
- Stellar Lumens (XLM)
- Chainlink (LINK)
- Uniswap (UNI)
- Aave (AAVE)
Coinbase and Coinbase Pro offer a wide variety of cryptocurrencies compared to digital exchange platforms like Gemini. However, Coinbase lags behind some of the best crypto exchanges, such as Binance.
Coinbase vs. Coinbase Pro: Security
The Coinbase platform offers the same high level of security for Coinbase and Coinbase Pro. Moreover, the cryptocurrency exchange had a direct listing on Nasdaq, which differs from an initial public offering (IPO) but still sells stock shares to the general public. Its safety and security standards are as secure, or more secure, than industry standards.
All USD cash balances are protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per individual. The exchange is very forthcoming about its safety features for trading on the site or using the mobile app.
Coinbase keeps 98% of customer funds stored offline in vaults or safe deposit boxes, called cold storage. The remaining 2% is held online backed by Coinbase’s insurance policy, which covers any losses due to cybersecurity breaches of Coinbase’s facilities.
All accounts offer a two-factor authentication (2FA) process and biometric fingerprint logins. The digital wallets and private keys use AES-256 encryption. Of course, you’re responsible for creating a secure and strong password. In addition, with Coinbase Pro, you have the option to store your funds in your personal offline cold storage.
Coinbase vs. Coinbase Pro: Fees
Coinbase and Coinbase Pro differ in fee structures, with Coinbase being more expensive and complicated to understand. Coinbase Pro costs less and uses a maker-taker approach. According to Coinbase, “the base rate for all purchase and sale transactions in the U.S. is 4%.” But, the fees vary based on your location and payment method.
Coinbase charges a higher amount for either a flat rate or variable fee based on the payment method. Coinbase Pro uses tiers, with more or higher dollar transactions coming with lower costs. For example:
- Transactions less than $10,000 pay a 0.50% taker fee or 0.50% maker fee
- Transactions $10,000 to $50,000 pay a 0.35% taker fee or 0.35% maker fee
- Transactions $50,000 to $100,000 pay a 0.25% taker fee or 0.15% maker fee
- Transactions $100,000 to $1 million pay a 0.20% taker fee or 0.10% maker fee
FeesCoinbaseCoinbase ProBank accountVaries0Wallet0 0 Debit/credit cards2.49%0 ACH transferFree FreeWire transfer$10 deposit, $25 withdrawal $10 deposit, $25 withdrawalCrypto conversion0.50% to 2% 0.50% to 2%Purchases0% to 0.50% 0% to 0.50%Trades$0.50 $0 to $0.50Coinbase fee$0.99 to $2.99 based on the amount 0.04% to 0.50% taker fee, 0% to 0.50% maker fee
The way to avoid access fees is by trading on the Coinbase Pro platform or paying money out of your bank account or digital wallet. Although the Coinbase fees are comparable to other exchanges, the charges can quickly add up.
If you were to spend $200 to buy altcoin on Coinbase, you’d pay the higher amount between Coinbase’s flat-rate fee or the percentage amount based on the payment method. For example, if you paid via credit card, you’d pay 2,00% (higher than the $2.99 flat fee). On Coinbase Pro, you’d pay a fee of 0.50% on your $100 purchase, or 50 cents.
Coinbase vs. Coinbase Pro: Ease of Use
You don’t need to download anything to get started with Coinbase or Coinbase Pro, as all features are available using a web browser. Both versions come with a user-friendly mobile application.
The simplicity of Coinbase makes it the more straightforward option for beginners. It only supports buying and selling, so you can jump right on the app or web browser and start investing. Coinbase Pro can seem imposing at first because it offers a lot more information and advanced reporting.
However, once you play around with the platform, it’s pretty easy to use. The advanced trading features give users many more options, which is why it’s better suited to people familiar with crypto trading.
Frequently Asked Questions
What Are Coinbase and Coinbase Pro?
Coinbase and Coinbase Pro are leading cryptocurrency exchange platforms owned by Coinbase Global Inc, founded in 2012. Coinbase is like a brokerage with a virtual wallet, whereas Coinbase Pro works as an exchange where people buy and sell from each other.
Beginners use Coinbase because it’s simple to buy and sell cryptocurrency. Users don’t need to learn investing lingo. Instead, they can jump on the platform and get trading. People who are familiar with trading use Coinbase Pro to take advantage of diverse trading types. The Coinbase Pro platform is also easy to use, so beginners can quickly familiarize themselves with the terminology and start investing.
How Do Coinbase and Coinbase Pro Work?
Regardless of which option you choose, you must create a user account on Coinbase. Doing so requires your name, email address, and a new password. Once you verify your email address, you can confirm your phone number to set up a two-step authentication process.
After you finish setting up your account, U.S.-based users need to provide a Social Security number, while those in other countries must provide an alternative form of identification. Once you’ve finished, you can add your credit card, debit card, or bank account.
Decide how much money you want to spend and click “trade.” You can buy whole or fractions of coins. Choose what altcoin to purchase, how you’ll pay, and click preview purchase. You’ll see your Coinbase fee, payment method, price, and purchase amount on this screen. Click “buy” to complete your transaction.
Should I Use the Coinbase Wallet?
The Coinbase digital wallet is a standalone application that works on iOS and Android phones. You don’t need to trade on the Coinbase platform. For the Coinbase Wallet, the keys are stored on your device, giving you control over your crypto assets. You can also store digital tokens and digital collectibles.
Unlike some other wallets, the Coinbase Wallet uses two-factor authentication, making it a safe choice. Plus, it lets you manage cryptocurrencies from other wallets. You can choose from a list of third-party wallets, enter your 12-word key phrase, then you can access your funds. However, it’s essential to review the best Bitcoin wallets to find an option that fits your needs.
Who Should Use Coinbase or Coinbase Pro?
Coinbase and Coinbase Pro offer user-friendly mobile applications, but Coinbase is designed for people new to investing in cryptocurrency. It keeps your options simple by limiting your transaction types.
If you want more advanced investing options, Coinbase Pro is a great choice. Although it’s easy to use, the various alternatives can be confusing. However, you’ll save a bunch of money on fees and be able to do much more on the Coinbase Pro platform. In most cases, people can take a cryptocurrency trading course then start using Coinbase Pro.
How We Evaluated Coinbase vs. Coinbase Pro
We reviewed Coinbase and Coinbase Pro by looking at the breadth of features, such as the trade types, purchase and withdrawal options, and supported currencies. Moreover, we assessed the overall ease of use in a web browser and on mobile apps. We also considered the fee structure and security levels for both account types and the Coinbase Wallet.