For the love of your satoshis: Use Coinbase Pro
In the last days I have seen a number of posts about People using vanilla Coinbase for their crypto transactions. Some even talking about the high fees they are paying. If you have a Coinbase account, you automatically get a Coinbase PRO as well. Coinbase themselves do a poor job promoting this. Probably because of the fees they would lose.
First of all you can instanstly transfer your fiat and coins from Coinbase to Coinbase PRO and back. Use vanilla Coinbase for staking coins such as ALGO. Otherwise there really is no advantage in using the vanilla version
Now lets compare the fees from vanilla Coinbase and Coinbase PRO. This is the big difference between the platforms:
Vanilla Coinbase fees:
From the Coinbase website:
- If the total transaction amount is more than $50 but less than or equal to $200, the fee is $2.99 | €2,99 | £2,99 | C$2.99^ | S$2.99 | CLP $2.99 | Mex$2.99
- If you buy more than 200$ worth of coins the fee is 1.49%
- Fees may vary between countries and payment methods but are always pretty high
For people who buy low dollar amounts, the fees can really add up. No reason not to use coinbase pro
Coinbase PRO fees:
|Pricing Tier||Taker Fee||Maker Fee|
|$10 – 50K||0.35%||0.35%|
|$50 – 100K||0.25%||0.15%|
Coinbase Pro gives you much better fees. You can also set Limit Orders which is always recommend when you want to buy.
Let me know if there are other advantages for either platform. Have a great weekend. Stay green