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Coinbase Pro Review – Advanced Trading Features+Intutive Interface

coinbase pro

The post Coinbase Pro Review – Advanced Trading Features+Intutive Interface appeared first on Coinpedia – Fintech & Cryptocurreny News Media| Crypto Guide

Coinbase Pro is definitely one of the most popular exchanges out there. You’ve probably heard of how a listing of a token on Coinbase spikes its prices. Well, that’s how prominent this exchange is.  In this review, Find a complete overview of the Coinbase pro exchange. It’s Fees, Safety, Currencies, Pros Cons & More. Table …

Republished by Plato

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Coinbase Pro is definitely one of the most popular exchanges out there. You’ve probably heard of how a listing of a token on Coinbase spikes its prices. Well, that’s how prominent this exchange is. 

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In this review, Find a complete overview of the Coinbase pro exchange. It’s Fees, Safety, Currencies, Pros Cons & More.

Table of contents

Overview

Legal Name Coinbase, Inc.
Headquarters San Francisco, CA the United States
CEO Brian Armstrong
Year Founded 2012
Exchange Type Centralized
Trading Fees  Maker: 0.15% / Taker: 0.25%
Deposit Methods Wire transfer , Cryptocurrency
Supported Cryptos Bitcoin Cash ABC, Bitcoin, Cosmos Coin, Ethereum, Litecoin and 12 other.
Fiat US Dollars (USD-$) Euro (EUR-€) Pounds (GBP-£)
Customer Service Email, Phone
Trading Options Spot Trading, Margin Trading

What is Coinbase Pro?

Coinbase Pro is highly liquid and tapped into one of the world’s biggest cryptocurrency exchange. It offers advanced trading features, competitive fees, and many deposit options. Leverage of up to 500:1 is also offered to investors looking for the opportunity to make more money.

Coinbase Pro is an advanced cryptocurrency trading platform owned and operated by Coinbase, Inc. It was launched in the year 2015 as GDAX,  Based in San Francisco, Coinbase has over 20 million users that have traded over $150bn since the exchange opened its doors.

The interface on Coinbase Pro is highly intuitive, making it possible for traders to start using the platform right away.

How to Set Up Account

Step 1: Navigate to the Official Website and Select “Sign Up” Option

Step 2: The sign-up form will ask for your name, email, and password. Enter the details and Click Submit.

Step 3: You will receive a confirmation link in your email. Click on the link received.

Step 4: To complete the verification process and use the platform, you must upload an official document such as passports, national ID cards, and driver’s licenses.

How to recover the Coinbase Pro password?

To recover the Coinbase Pro password, Go to the Password Reset Page. Enter your email address and click on the “Reset Password” option. This is will send an email to the address after which you can generate your new password. 

How to buy cryptocurrencies

Step 1: Navigate to the Official Website, Login into your Coinbase Pro account.

Step 2: Go to the Trade page by clicking on “View Exchange” from the top main navigation bar.

Step 3: Go to the dropdown menu right above where you logged in to select the cryptocurrency pair you wish to trade.

Step 4: Then, also on the left side of the screen but slightly lower, go to the order form.

Step 5: Then click the “Buy” option to complete the order.

How to sell cryptocurrencies

Step 1: Navigate to the Official Website, Login into your Coinbase Pro account.

Step 2: Then head to the Trade page by clicking on “View Exchange” from the top main navigation bar.

Step 3: On the left side of the screen, you will see the option to sign in or create an account. Begin by logging in.

Step 4: Now Go to the dropdown menu to select the cryptocurrency pair you wish to sell.

Step 5: Immediately below, you will see three tabs for your chosen order type: Market, Limit, or Stop. Select Accordingly.

Step 6: Fill in the amount you want to sell. Then click the “Sell” Option to complete the order.

Deposit & Withdrawal Procedure

Step 1: Go to the Coinbase Pro trading page. Go to “My Wallets” Section

Step 2: Select Deposit/Withdraw under Wallet Balance. Then a pop-up window will appear.

Step 3: Select the currency type (i.e. BTC, ETC) that you would like to deposit/withdraw  to Coinbase Pro

Step 4: Select Coinbase Account

Step 5: Enter the amount you would like to deposit/withdraw to Pro from Coinbase. Please note that you will only be able to deposit funds that are “Available to Deposit”

Step 6: Select Deposit/Withdraw at the bottom of the window

Fees, Limits & Supported Currencies

Coinbase Pro fees are based on the maker-taker model, and maker traders do not have to pay any fee at all. Taker fees get to take advantage of volume-based discounts that can bring the fees down to an incredibly low 0.10 percent. Coinbase pro withdrawal fees are charged a 3.99% fee. 

Taker order fees start at 0.30 percent for volumes of up to $10 million. Between $10 million and $100 million, the fee drops to 0.20 percent. Those with trading volumes of over $100 million get the 0.10 percent fee. The trading volume is based on 30 days with volume in USD.

Supported Currencies

In total, there are 57 different coins that you can buy. These include the standard Coinbase offering of Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Ethereum Classic.

Below are some of the additional coins on Coinbase Pro with full trading enabled:

  • Ripple (XRP)
  • Stellar Lumens (XLM)
  • Zcash (ZEC)  
  • Augur (REP)
  • 0x (ZRX)
  • Chainlink (LINK)
  • Uniswap (UNI)
  • Aave (AAVE)

If you have a Coinbase Pro account you’re able to trade not only for your home country’s currency but also for three of the world’s largest currencies:

  • US Dollars (USD-$)
  • Euro (EUR-€)
  • Pounds (GBP-£)

Coinbase Pro mobile app

You can access the platform via the Coinbase Pro app for iOS and Android. The mobile app lets you use all the same features as on the web-based Coinbase platform, except for the account verification option, which must be performed via the web browser.

Referral Commissions & Other Services.

Coinbase Prime

Institutional cryptocurrency investors are recommended to open a Coinbase Prime account, which is much like the Coinbase Pro but tailored for corporate professionals.

 Coinbase Earn

 Coinbase lets you earn cryptocurrency for learning about it. At pixel time, you can get over USD 150 worth of crypto just by completing Coinbase’s courses.

Is Coinbase Pro Safe & Secure

  • Coinbase Pro is regarded as a secure sanctuary. 98% of its customers’ digital assets are kept in cold storage, preventing funds from being lost due to theft, hacking, or other ways. The rest is covered by private insurance.
  • Two-step verification is required for all user accounts. In addition to entering their passwords, users must acquire a code from their phones in order to sign in and execute other critical tasks.
  • By running all site traffic over HTTPS, Coinbase Pro follows payment industry best practices. Before being saved, all wallets and private keys are AES-256 encrypted.

Conclusion

Coinbase Pro is one of the best cryptocurrency trading platforms for professional traders, considering all the groundbreaking features it supports. It is a highly secure platform with a lot of verification procedures in place to safeguard user accounts.

The trading interface is intuitive with more detailed trading charts powered by a real-time data feed for a seamless experience. With high volume and liquidity, it is an excellent option for high volume traders because of its low transaction fees.

Thus, Coinbase is probably the most trustworthy exchange available at the moment which allows you to trade securely and efficiently.

FAQ

  1. Is Coinbase safe & Secure?

Yes, Coinbase is a safe platform. 98% of assets are kept in cold storage, a 2 step verification process is implemented, and all the wallets and private keys are encrypted.

  1. How many accounts can I have?

A single person can only have one Coinbase Pro account. To avoid violating this policy, if you currently have a Coinbase account and want to open a Coinbase Pro account, please use the same login email address.

  1. Does Coinbase Pro have an app?

Yes. There is an iOS app that’s available in the Apple App Store and an Android app available in the Google Play store.

  1. Is Coinbase Pro better than Coinbase?

Both options are secure and simple to use. Although Coinbase has higher fees, it is designed for consumers who are new to bitcoin investing. Coinbase Pro has a wider range of transaction types and cheaper costs, making it ideal for aggressive traders.

  1. Is Coinbase pro-FDIC insured?

 USD holdings up to $250,000 are protected by the Federal Deposit Insurance Corporation (FDIC).

coinbase – 9

Coinbase Pro Ratings

  • Currency Support
  • Online Reputation
  • Fees
  • Customer Support
Overall

4.1

Pros

  • Seamless trading experience with the highly intuitive trading interface
  • High liquidity across their trading pairs
  • Secure platform with private and FDIC-backed insurance protection
  • Backed by a reputable company and fully regulated in the US

Cons

  • Extensive KYC procedures
  • Fewer altcoins to choose from in Australia
  • Not ideal for beginners
  • The trading fees for retail investors are higher than other major exchanges

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coinpedia.org/exchange/coinbase-pro/

Blockchain

New York City to Become the ‘Center of Bitcoins,’ Promised Mayoral Front Runner

Republished by Plato

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The number of US city mayors, whether current or running, supporting bitcoin continues to grow. After Miami’s Francis Suarez, the favorite to win the race in New York City, Eric Adams, promised to make NYC different in a year, including becoming the “center of bitcoins.”

BTC Going to NYC?

Running as a Democrat, Eric Adams is a polarizing figure that managed to get ahead in the race through an old-school strategy by receiving support from Black and Latino voters with unions.

Although roughly 70% of voters didn’t make him their first choice, the new and controversial voting system in the city has made him the favorite. The latest polls showed a lead of over 75,000 votes over Maya Wiley.

Apart from making the usual political promises of lowering crime rates and creating new jobs, he also outlined a somewhat unexpected strategy, which he believes will bring back economic prosperity to one of the world’s most important cities.

During a recent speech, he spoke about his intentions to turn New York City into a technology hub, and he even briefly mentioned the largest cryptocurrency – bitcoin.


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“I’m going to promise you in one year, you are going to see a different city. We are going to become the center of life science, the center of cybersecurity, the center of self-driving cars, drones, the center of bitcoins.”

New York City. Source: LovelyPlanet
New York City. Source: LovelyPlanet

Somewhat expectedly, the CEO of MicroStrategy, Michael Saylor, was quick to weigh in on the matter, saying that “bitcoin is hope for New York.”

Miami’s Mayor Leads the Way

Months before Adams spoke about bitcoin, another mayor of a large US city was the first to express his support about the asset. Francis Suarez, the mayor of Miami, said he was opened to explore investing 1% of the treasury reserves in BTC.

Since then, he has reaffirmed his stance, indicating that he is a holder of bitcoin and ether. He also attracted the world’s largest Bitcoin conference to take place in Miami, where he praised the primary cryptocurrency once more.

Most recently, Suarez tried to lure BTC miners into relocating to his city and promised them incentives like cheap nuclear energy.

Featured Image Courtesy of TownandCountryMag

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Source: https://cryptopotato.com/new-york-city-to-become-the-center-of-bitcoins-promised-mayoral-front-runner/

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Blockchain

Palestine Reportedly Working On Its Own Digital Currency

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Cryptocurrencies are back in the geopolitical scenario. The Palestinian Monetary Authority is reportedly working on issuing a digital currency as a strategy to achieve a higher level of financial independence.

This effort would put Palestine on the same list as other nations like Venezuela, the Marshall Islands, the Bahamas, China, and the latest endeavors of El Salvador, who are interested in the power of the blockchain to improve the efficiency of their financial infrastructure —and gain a little more independence from other economic powers, bypassing their sanctions since we’re there.

A Palestinian Sovereign Digital Coin: Practical Solution Or Political Statement?

Palestine has a rather peculiar political situation, although 138 of the 193 United Nations (UN) recognize it as an independent country, the United States and Israel (two of its most important political rivals to say the least) do not recognize its existence, and Israel currently exercises an important military and even financial control on the region.

Countries that recognize Palestine as a free country (Green) vs Countries that do not (Grey). Image: Wikipedia
Countries that recognize Palestine as a free country (Green) vs. Countries that do not (Grey). Image: Wikipedia

And this is where the blockchain comes in as a possible relief valve or perhaps a means of political protest by Palestine against Israel. Palestine does not have its own currency and instead relies on a mixed economy in which Israeli shekels, Jordanian dinars, and U.S. dollars move in and out.

So, with an economy controlled by a rival third party, it is almost impossible for Palestinians to have any financial sovereignty when Israeli banks dictate their movements.


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Currently, Israel prohibits banks from conducting large cash transactions. It also imposes limits on the amount of money Palestinians can transfer to Israel each month.

According to a Bloomberg report, this hinders financial transactions between Palestinians and could be one of the most important practical reasons for trying to create a sovereign currency free from Israel’s influence.

As a result, they [the palestinians] sometimes have to borrow to cover foreign exchange payments to third parties and are stuck with a glut of Israeli banknotes. That could be one reason a digital currency would be attractive to the Palestinian monetary system.

Experts Don’t Expect Much

Palestinians might be optimistic, but many experts don’t see much hope for the Palestinian efforts. Among this group is Raja Khalidi, director of the Palestine Economic Policy Research Institute, who believes that it is practically impossible for the Palestinian cryptocurrency to see the light of day.

“The macroeconomic conditions don’t exist to allow a Palestinian currency — digital or otherwise — to exist as a means of exchange.

For his part, Barry Topf, former senior adviser to the Bank of Israel governor, assured that this currency will fail to fulfill two of the main functions of money:

“It’s not going to replace the shekel or the dinar or the dollar. It’s certainly not going to be a store of value or a unit of accounting.”

However, Palestine seems determined to pursue a venture in which it has nothing to lose. Two cryptocurrency studies are currently underway to help experts understand the landscape. In the end, much of its success will depend on the support it receives from other international bodies, and especially from other states.

And this is a matter of discussion for political analysts, not crypto enthusiasts.

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Source: https://cryptopotato.com/palestine-working-digital-currency/

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Blockchain

Citizens of El Salvador To Receive $30 in Bitcoin as the Law Will be Implemented In September

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The President of El Salvador Nayib Bukele has announced that bitcoin’s legal tender status will take effect in the country on September 7th, 2021. In addition, the government will give El Salvadoran citizens $30 worth of bitcoin.

  • Bukele made the statement during a national address on Friday (June 25th, 2021). The El Savaldoran President’s announcement comes after the country’s supermajority voted in favor of his Bitcoin plan to make the largest cryptocurrency the country’s second legal tender earlier in June.
  • Apart from the news of the Bitcoin law taking effect, President Bukele also revealed the creation of a new BTC wallet called Chivo.
  • According to him, every adult who signs up on the wallet will receive $30 worth of bitcoin. This effort could encourage increased adoption of the cryptocurrency.
  • Earlier, El Salvador’s President said that individuals who invest 3 BTC into the country’s economy would be awarded citizenship.
  • Although the World Bank and the International Monetary Fund (IMF) are not in support of the Central American country’s bitcoin adoption, the latest developments indicate that El Salvador is not going to give up its plans.
  • President Bukele’s plan has also faced opposition within the country. Some members of the Farabundo Martí National Liberation Front (FMLN), one of El Salvador’s major political parties, called the Bitcoin Law illegal, adding that it was harmful and was also designed to loot the people’s pockets.
  • However, the President, in his recent address, refuted the claims, stating that bitcoin will instead benefit the people and move the country forward.

Featured Image Courtesy of Reuters

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Source: https://cryptopotato.com/citizens-of-el-salvador-to-receive-30-in-bitcoin-as-the-law-will-be-implemented-in-september/

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