The professional trading platform Coinbase Pro, which in turn belongs to the major crypto exchange Coinbase, will be closed in order to be integrated into the main platform of Coinbase in return.
Accordingly, the American crypto company Coinbase officially announced yesterday, June 22, that Coinbase Pro is now being slowly processed in order to integrate professional trading elsewhere.
In the future, all previous functions of Coinbase Pro will run under Advanced Trade, a new section on the main page Coinbase.com . The section in question was introduced in March 2022 in order to provide retail investors on Coinbase with in-depth analysis and professional investment tools.
As can be seen from the announcement, Advanced Trade should therefore also get the same volume-related fee structure as Coinbase Pro. On the Coinbase Pro, the trading fees currently range from 0 – 0.6% depending on the respective trading volume.
The transition from Coinbase Pro to Advanced Trade is planned to take place gradually over the next few months, while the section is to be constantly expanded with new functions.
According to Coinbase, the exact deadlines for the shutdown of Coinbase Pro will be communicated soon. In this regard, it says:
“Traders who have funds on Coinbase Pro do not need to do anything, because their funds simply stay with Coinbase. Nevertheless, we welcome our customers to Coinbase.com or switch the smartphone app to Advanced Trade.“
With the merger, Coinbase wants to make trading much easier for professional investors, as they can also use the new tools and features of the main platform and run their trading activities through a central location. “In the past, professional traders have often used Coinbase Pro for more extensive trades and in-depth analysis. But if they wanted to use other Coinbase features, they had to transfer their funds to the main platform first,“ as the crypto company explains.
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