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Coinbase to Shut Down Its Trader-Focused “Coinbase Pro” Service

cryptoknowmics.com 23 June 2022 07:30, UTC
Reading time: ~2 m

Coinbase cryptocurrency exchange announced Wednesday that it will shut down its trader-focused "Coinbase Pro" in favor of "Advanced Trade," a similar exchange service that will exist within the Coinbase.com app itself.

Coinbase Pro Getting Replaced

Coinbase Pro exists independently of Coinbase.com. It will now be replaced by Advanced Trade, a service that offers comparable features but will live within the main Coinbase app and site. The move comes in an effort to prevent traders from having to constantly switch between Coinbase and Coinbase Pro. In a blog post, today, Coinbase cited duplicated features and “friction” when transferring balances back and forth between Coinbase.com and Coinbase Pro as the reason for moving towards the latter.

"To resolve this friction and offer customers the best of both worlds, we have rebuilt the full Coinbase Pro advanced trading experience within the Coinbase mobile app and Coinbase.com. As we continue to add more features to Advanced Trade on Coinbase, we will sunset Coinbase Pro later this year," the exchange stated.

Coinbase Advanced Trade Already Live

Coinbase Pro offers substantially lower trading fees than Coinbase it can take some time for newbies to get a grip of it. In this regard, Coinbase has stressed that Advance Trade will continue to offer the same volume-based fees as Pro did and hopes that "other improvements will make Advance Trade an upgrade from Coinbase Pro for every customer."

Advanced Trade is already live for desktop users, and Coinbase plans to roll out a mobile version of the feature inside the Coinbase app in the coming weeks.

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