Traders with experience have to take another step in trading by shifting from Coinbase to Coinbase Pro. Coinbase was launched in the year 2012 and now it has gained popularity all across the world and especially in the US. You can use Coinbase in more than one way. Along with the standard version of Coinbase, the users of exchange offers can open a professional account that has some additional features along with the existing ones. This is termed Coinbase Pro. But the question that arises is ; What’s more beneficial? Coinbase or Coinbase Pro. Well, this article is the solution to all your queries.
Brief On Coinbase
When you start using Coinbase Pro, you’ll see a difference in the layout when comparing it with the standard account. The trading page of Coinbase Pro is more complex than Coinbase. Along with this, the option of Advanced training in Coinbase is less complicated than in Coinbase Pro. The reason behind the complexity is that Coinbase Pro is generally made for professional traders and not for those who trade rarely or casually with crypto holdings.
The casual crypto holders and the beginners require the basic features of exchange like the ability to sell, buy, convert, trade, and stake their funds. Numerous crypto owners never go beyond these features which makes sense. Coinbase is known as the standard version as it makes everything simple. It adheres to the option that casual crypto users are more likely to engage in both things, understanding the concept of trading and using it. Experienced traders like to use advanced features for the expansion of their portfolio and these features can only be accessed from Coinbase Pro.
Is It possible To Transfer Coinbase To Coinbase Pro?
Yes, there’s a possibility of transferring your Coinbase portfolio to Coinbase Pro at any time with no extra charges. Using a Coinbase crypto account as a Rookie investor of crypto is a normal thing for a beginner. Traders learn to use the basic user interface of Coinbase and watch their video lessons for gaining skills and knowledge. With time, the need for more control over trading decisions along with a complex user interface increases. Or maybe, the Coinbase account at the start was built up just for working out the strategy of buy-and-hold. But now, the additional features of limit orders and stop orders are influencing traders to use Coinbase Pro so that they can make more nuanced buying decisions. Shifting to another platform is natural if the trader wants to make decisions on high-volume trading.
Method To Transfer Coinbase To Coinbase Pro
The accounts of Coinbase and Coinbase Pro are linked but not the wallets. To transfer the amount from Coinbase to Coinbase Pro, follow the steps described below:
- Step 1: Log in to your Coinbase Pro account
To log in to the Coinbase Pro account, fill up the credentials of your Coinbase account by entering the normal username and password of your Coinbase account.
- Step 2: Direct toward the trading page of Coinbase Pro
As you wish to deposit your assets in your Pro account, therefore you need to select the option of ‘Deposit’. You can find this option on your Portfolio page under the option of Wallet and also on the left side of the page. As you select the ‘Deposit’ button, a pop-up window is displayed on the screen.
- Step 3: Look out for the coin that you wish to deposit into your Pro account
You’ll be now prompted to choose the type of currency such as ETC, BTC, etc. that you wish to deposit in your Coinbase Pro account from your standard account. You can choose the type of currency either from the pre-populated option including the popular currencies. If you are looking out for a specific currency that’s not included in the list, you can search for it.
- Step 4: Choose your account from Coinbase
Select the option of ‘Coinbase Wallet’ from the drop-down list. You can check the available balance of the Coinbase wallet that you want to transfer to your Coinbase Pro account. If the available balance is 0, open your Coinbase account and add funds to your wallet. PayPal can also be used for adding money directly to the Coinbase wallet.
- Step 5: Choose the option of ‘Deposit’ present at the bottom
Choose the source from where you want to transfer and enter the amount and complete the transfer by hitting the button ‘Deposit’. It’s done! You have successfully transferred your amount from Coinbase to Coinbase Pro.
Information regarding Transfer fees
If you are transferring the assets of your Coinbase account into a different cryptocurrency, then you might need to pay charges for the same. For transferring the assets of your Coinbase into your Coinbase Pro account, you don’t need to pay anything. If you want to advance your trading skills and want an advanced platform for exchange, switching to a Coinbase Pro account is the best decision.
Trading is fun and a good source of earning as well if you are indeed a good trader. Advancing the trading platform is the best decision a trader can think of. Therefore, there’s no harm in transferring your Coinbase account to Coinbase Pro. Without paying any extra charges, now you can learn how to transfer from Coinbase to Coinbase Pro by the guidelines that are mentioned in this article.