1. what is Coinbase Pro?
Coinbase Pro is the company’s exchange that lets you set up advanced order types, such as limit orders. Those are fairly standard features for a cryptocurrency exchange. But Coinbase set up a separate “pro” platform so that the main Coinbase.com exchange remains as simple and straightforward as possible.
The most trusted platform for trading cryptocurrency Coinbase Pro offers individuals the ability to trade a variety of digital assets on a secure, insurance backed platform. Coinbase Pro is a trading platform for individual traders and crypto enthusiasts. It offers a secure and easy way to buy, sell, and trade digital assets online instantly across various trading pairs
2. How to use Coinbase Pro?
- sign up
- Specify your account details, including your name and email address. You’ll receive an email asking you to verify your email address
- After verifying your email address, you’ll be prompted to enter your phone number. Please provide a mobile number as you’ll be required to verify the phone number via SMS
- Depending which region you’re in, you’ll be asked to provide your name, date of birth, address, intent, source of funds, occupation, and employer
- Have your government-issued ID available as you will be asked to upload or take a photo of it
- US and UK customers will need to complete an ID verification for documents and an ID verification for a profile
- All other customers will need to verify two IDs of different types. Passport, driver’s license, or government-issued ID cards are acceptable forms of ID; health cards and student IDs are not accepted
- Once you verify your ID, you may link a bank account or select Start Trading to skip this step for now
3. How to open a Coinbase Pro account?
To sign up and create your account with Coinbase Pro, follow these steps:
- Go to pro.coinbase.com
- Select “Create Account”.
- Complete the sign up form, then click “Create an account”.
- Click the verification link sent to your email address.
- After verifying your email address, you will be asked to provide a phone number.
- Specify whether you would like to create an ‘Individual’ or ‘Institutional’ account. Depending on the account type selected, you will need to provide information about yourself or your institution.
- You have the option to link your bank account so you can fund your trading account with USD, GBP, or EUR. Alternately, you can skip this step and fund your account with BTC or ETH.
How to open a Coinbase Pro account when you already have a Coinbase account
If you already have a Coinbase account, please use the same login email address from your Coinbase account for your Coinbase Pro account. By doing this, your Coinbase account is automatically linked, and transferring funds of any currency between your Coinbase balance and your Coinbase Pro account is integrated into the experience. To create your account go here and select login. If you were already logged in to coinbase.com, you will be prompted to accept the Coinbase Pro User Terms and may be prompted to provide additional information.
Please note that a single individual may only operate one account with Coinbase Pro and Coinbase.com. If you already have a Coinbase account and would like to open a Coinbase Pro account, please use the same login email address.
4. How to Add a payment method?
US customers residing in a state where Coinbase offers service can fund their Coinbase Pro accounts with USD via bank-wire or ACH transfers. Prior to transferring funds from your bank, you must verify your US bank account through the process below.
Deposits are available on the Pro mobile app by going to the Portfolios page and tapping the Deposit button in the top right-hand corner.
Verify a US bank account
- Open the trading view at pro.coinbase.com/trade
- On the left-hand column under Wallet Balance, select the Deposit option
- In the Currency Type field, select USD
- Select the Bank Account tab, then select From, then select Add Account
- You will be redirected to Coinbase.com to complete the bank account verification process.
5.Pros and cons:
- Great UI for managing crypto funds
- Excellent mobile application for monitoring crypto values and sending/receiving crypto.
- Good two-factor security practices to ensure bad actors are not illegitimately gaining access to your wallets and stealing your funds.
- The fees coinbase charges on top of the crypto networks are relatively high, compared to the rest of the industry
- Under load/high volume, the site and application become unresponsive
- Customer support is lacking. It’s hard to talk to a human and get a real response to your questions/concerns. This is particularly irritating since we’re dealing with money.
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