Advanced trading is finally on the main Coinbase platform! A few years back, I made a blog post outlining the differences between Coinbase and Coinbase Pro. More specifically, I took a closer look at the difference in fees. This article is in some way an update on the previous post because Coinbase has made some changes!
The previous way of working
Until recently Coinbase had actually two different platforms on which people could trade. The main Coinbase platform was specifically tailored to less technical investors. This translates to an easy-to-use interface without many bells and whistles. This in turn allows Coinbase to charge a higher fee because of the ignorance of these kinds of users. If you wanted cheaper fees you had to invest or trade via their pro platform. This was a bit hidden, had a ‘scarier’ interface, and is more tailored to traders. If you were brave enough to transfer your funds between the platforms as well as conquer the more technical interface, you were rewarded with cheaper fees.
Bye-bye, Coinbase Pro!
At the time of writing this article, the Coinbase Pro platform is still available. At the top of the page, there is a message telling the users that, so-called, advanced trading is now available on Coinbase.com
When we navigate to Coinbase.com we can now see an extra button in the menu. The original, simple trading functionality is still there under Trade but now we also have Advanced Trade. When we click on Advanced Trade and select a trading pair, we get to see an interface that closely resembles the one of Coinbase Pro.
There is a beautiful integration of Trading View charts with all its functionality. The order book is also available as well as the trade history. We also have the ability to place orders in all ways possible.
Your orders via Advanced Trade will be subjected to significantly lower fees!