Coinbase is the entry point for many cryptocurrency holders, but as its users become more crypto-savvy, they are opting to transfer their assets to the more advanced Coinbase Pro.
Coinbase is the more simplistic version of the Coinbase Pro exchange and wallet. It offers an accessible user interface that doesn’t require much knowledge or experience to use. However, it does lack some features compared to the Pro version.
Here’s how to transfer cryptocurrency to Coinbase Pro.
How To Transfer From Coinbase To Coinbase Pro?
Given both Coinbase and Coinbase Pro exist within the same exchange network, transferring between the two is relatively easy, and most importantly, free. Here’s what to do:
- Sign In or Sign Up For Coinbase Pro.
- Go to Coinbase Pro’s trading section.
- Click Deposit from the bar on the left side.
- Choose your desired cryptocurrency from the pop-up tab, and then select the transfer from Coinbase.com
- Input the amount you want to transfer to Coinbase Pro. If you want to deposit all of your cryptocurrency holdings, select Max.
- Press the Deposit button.
Read More: How To Withdraw Cryptocurrency From Coinbase And Transfer To Crypto Wallet?
And that’s it. While cross-exchange transfers such as those between Binance and Coinbase may be more complex (and riskier), it’s a relatively simple process for inter-Coinbase transfers.
However, it is to be noted that coinbase has decided to merge Coinbase Pro with the advanced trade feature and Coinbase pro will no longer function as a seperate entity
Is There A Fee For Transferring Funds From Coinbase To Coinbase Pro?
As per its official website, Transferring funds from Coinbase to Coinbase Pro is free of cost, and no additional charges are levied on users who wish to transfer their funds from Coinbase to Coinbase Pro.
However, as far as other transactions are concerned, the user has to pay nominal charges to conduct cross-transfers to third-party apps, exchanges, and wallets.
To know more about Coinbase Fee Structure, click on this link here.
Should You Transfer From Coinbase To Coinbase Pro?
If you can get past Coinbase Pro’s less friendly user interface, the upgraded exchange offers a variety of extra features and charting compared to Coinbase, which makes it the perfect choice for more active traders.
One of the key differences between Coinbase and Coinbase Pro is the fees. Fees on Coinbase do vary, but buying cryptocurrency using a bank transfer will see Coinbase take a 1.49% cut of the transaction. This Taker Fee is just 0.5% on Coinbase Pro - and it also drops lower for larger transactions over $10,000.
Read More: How To Stake Cryptocurrency On Coinbase: What Cryptocurrency Can You Stake On Coinbase?
It also allows users to trade more cryptocurrencies than the base Coinbase version. When Coinbase first listed SHIB, for example, Shiba Inu was only available via Coinbase Pro
Regardless, if you opt to try Coinbase Pro and realize you prefer Coinbase, you can transfer back to Coinbase. To do this, follow the steps above but select Withdraw from Coinbase Pro, rather than Deposit.
Read More: Coinbase NFT Waitlist Crashes As Over 600,000 Register For The Marketplace
[Image: Coinbase/Mohammad Alizade/Unsplash]
For more articles like this, take a look at our Planet Crypto page.