How to send crypto from coinbase pro to coinbase wallet

The Coinbase Pro cryptocurrency trading platform is shutting down for good in the coming days. Users who still have funds with the service will have their assets moved to Coinbase’s main platform.

In recent months, the company has added aspects of Coinbase Pro — including its lower, volume-based trading fees — into a feature known as “Advanced Trade.”

Coinbase said the transition would be complete in coming weeks, adding that customers can move their assets through a one-click process on its service.

“Your funds are always safe and secure with Coinbase, and your balance will be available to trade instantly,” the company wrote in an email to customers.

How to migrate from Coinbase Pro

If you’re a Coinbase Pro customer who wants to continue using Coinbase services after the transition, the process for moving your funds is relatively simple. When you open Coinbase Pro, you should see a banner at the top of the screen. Select the option that says “transfer funds.”

If you’re in the middle of trading, you can also use your portfolio view to move your funds to Coinbase’s main service. Here’s how:

  1. Select “All portfolios.”

  2. If you have open orders, you’ll get a prompt to cancel them. Coinbase won’t transition funds involved in open orders.

  3. Set the destination to “Coinbase.com.”

  4. Hit “withdraw” to confirm.

  5. You can use the “withdrawals” tab to view the status of your transfer.

How Coinbase services fit together

Both Coinbase and Coinbase Pro are run by Coinbase, one of the most popular cryptocurrency platforms in the United States. The combined service will remain free to sign up, as both of its predecessors were. The company does have a subscription service called Coinbase One, which offers no-fee trades and other benefits in exchange for a monthly fee of around $30.

The “Advanced Trade” features have been added to the main service to beef up what had been a simpler interface that might appeal to beginners. Though those features remain, you can now use the basic service to toggle to a mode that offers lower fees for some transactions and additional data tools.

If you’re selecting an exchange for the first time, it’s worth noting that Coinbase has several formidable competitors. (See how Coinbase stacks up among the other crypto exchanges and platforms.)

If you’ve already decided on Coinbase, here are some details on how Advanced Trade will affect you:

Fees

One advantage that Coinbase Pro has traditionally offered is trading costs that are more predictable and potentially lower than those on the company’s basic product. But this will be changing as Coinbase beefs up its core service.

Advanced Trade users pay up to 0.6% per trade, based on a maker-taker model that also provides discounts for high-volume traders. This is similar to the structure previously offered on Coinbase Pro.

Coinbase clients who don’t use Pro or Advanced Trade, on the other hand, pay fees that vary based on factors including:

  • How you’re paying.

  • How much you’re buying.

  • Market conditions, including volatility and liquidity.

Coinbase will inform you of your fees before you finalize your transaction.

Trading and selection

Historically, Coinbase’s basic service users have been incentivized to buy and sell cryptocurrencies using fiat currency such as U.S. dollars. While it is possible to trade cryptocurrencies for one another, Coinbase charges a fee to do that on its classic platform.

Coinbase Pro users, on the other hand, have been able to trade digital assets for one another in what is known as crypto-to-crypto pairs without the fees found on the basic service.

Now, as Coinbase rolls out Advanced Trade more broadly, all users will be able to use crypto-to-crypto pairs. There are more than 500 trading pairs available for Advanced Trade, according to Coinbase.

All told, Coinbase has more than 170 cryptocurrencies available.

Staking and rewards

One of the key advantages of Coinbase’s core service is that it allows users to earn rewards by holding certain cryptocurrencies on its platform. Coinbase Pro does not offer such a benefit.

One program Coinbase offers involves crypto staking, which is a process by which digital asset owners can earn additional cryptocurrency in exchange for helping to verify transactions on an underlying blockchain network.

While this can be challenging for beginning users to set up from scratch, exchanges such as Coinbase will do it for you, and pay you a portion of their rewards.

» Learn more: Our picks for the best crypto platforms for staking and rewards

Mobile app

If you plan to do a lot of trading from a mobile device, you should note that Coinbase is still in the process of rolling out Advanced Trade on mobile.

For now, Coinbase does have apps on Android and iOS for both its basic service and its Pro offering, but going forward, the main app will host both the basic and advanced services.

Security

Overall, Coinbase says it has taken a handful of steps to secure customers’ assets. It says cash held on its platforms is subject to Federal Deposit Insurance Corp. coverage up to $250,000.

And it has said in regulatory filings that it has insurance that would cover a portion of the crypto assets it holds in the event of a breach. Coinbase said about 6,000 customers’ holdings were breached in 2021, but it had fully repaid affected users.

Coinbase’s basic service and Pro have mostly similar security features, though the company says that Advanced Trade offers some protections that were not available with Pro. These include the ability to use its Coinbase Vault service, which allows users to place additional restrictions on crypto withdrawal.

However, it’s important to note that crypto exchanges can be targets for hackers because of the amount of value they store. If you want more control over the security of your digital assets, consider using your own crypto wallet to store the information that allows you to access your holdings.

» Learn more: Best exchanges for storing your crypto

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NerdWallet rating 

NerdWallet’s ratings are determined by our editorial team. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities.

NerdWallet rating 

NerdWallet’s ratings are determined by our editorial team. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities.

NerdWallet rating 

NerdWallet’s ratings are determined by our editorial team. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities.

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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.

Written by Jane