Coinbase Pro, or the professional trading platform of the popular cryptocurrency exchange Coinbase, will cease to exist. The exchange plans to completely restructure the services, in order to bring them all on 1 platform.
New section on Coinbase website
Yesterday the exchange officially announced that Coinbase Pro will be discontinued to migrate all advanced trading services to 1 unified Coinbase account.
In order to do this, Coinbase will be making available a new trading section on their website called ‘Advanced Trade’. Coinbase Pro will effectively be moved to this section. Originally launched in March 2022, the section provided traders with in-depth analysis and actual trading directly on Coinbase. So now it is visibly expanded.
The fees to be paid for executing transactions will remain the same as they are now on Coinbase Pro, ranging from 0% to 0.6%.
Migration will take months
However, it will be several months before the migration is fully completed. The exchange also plans to keep adding new features to Advanced Trade. The exact dates of Coinbase Pro’s termination will be announced and shared with all Pro users. They say the following about this:
For customers who have money on Coinbase Pro, there is no action to take money, the money stays safe on Coinbase. Meanwhile, customers are welcome to start using Advanced Trade on Coinbase mobile app and Coinbase.com.
Reportedly, the ultimate goal of the migration is to simplify the trading process on Coinbase. They want to do this by giving professional traders access to advanced trading tools and common Coinbase functions in one place, using one balance. As a result, they do not have to constantly switch accounts. Finally, the company reports the following:
In the past, advanced traders have used Coinbase Pro for more in-depth trades and analysis. But in order to use other Coinbase features, you had to transfer funds to your primary Coinbase account.
