Coinbase is a successful exchange platform that has earned a good reputation for catering to beginners and experts. The US-based crypto exchange has over 100 million verified users in over 100 countries, and is regulated in a multitude of well regarded jurisdictions. With the recent changes, how has it improved? Crypto Lists dives deeper…
The exchange announced that it shall no longer offer Coinbase Pro but it shall provide all its features on one platform in a newly set Advanced Trade section. Advanced Trade is a merge of Coinbase Pro and Coinbase.com (sign up for a free account here) with improved features from Coinbase Pro that are beneficial, especially to experienced traders. Crypto Lists looks into how this improves the overall outlook of Coinbase in maintaining and attracting new users.
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Introducing Advanced Trading to the Coinbase Platform
Coinbase earlier announced that it shall no longer offer Coinbase Pro from 9th November as it restructures its services into a single platform. Traders on the platform are now only required to have a unified Coinbase account. Coinbase Pro was designed for more experienced traders for in-depth analysis of trades but required users to transfer funds from their primary – or ‘basic’ – account to access other features. The access to criss-crossing features had been a burden to advanced traders hence the need to offer the best of both worlds in one section, ‘Advanced Trade’.
Improved Aspects of Advanced Trade to Coinbase Users
Advanced Trade replaces Coinbase Pro as a more advanced platform for trade for experienced users. It is a secure and convenient way to buy and sell digital assets with varying trading pairs. It includes appealing features such as TradingView-powered interactive charts and advanced order types. The powered charts include drawing tools, EMA, MA, MACD, RSI, and Bollinger Bands. It also enables experienced traders to access features that were only available on the primary account, including staking, dApp wallet, Coinbase Card, and Borrow. The Advanced Real-time order books assist in evaluating the crypto market for improved order flow for the market, limit, and stop orders on the exchange.
There are added features to Advanced Trade that were also not present with Coinbase Pro. These include DeFi rewards where users can earn up to 5% APY rewards on their tokens including ATOM, DAI, USDC, ALGO, ETH2, and XTZ.
Users have an upgraded security system with Yubikey for mobile, vaults, and its USD held in FDIC-insured institutions. Its cold storage facilities are also monitored throughout to ensure no infiltration.
Improving on the Remarkable Features of the Coinbase Exchange
Coinbase has stood the test of time to develop into one of the leading crypto exchanges. It has several users and offers great liquidity due to the high volumes of crypto traded on the exchange. It has reached these high standards by maintaining high-quality features beyond the recent Advanced Trade.
The exchange prides itself on the simple user interface that attracts beginners with no prior knowledge of crypto. The addition of more features and cryptocurrencies may have distorted ease of use but it is for the greater benefit of its users. The exchange’s apps have been among the most downloaded for beginners in crypto due to their ease of use.
The exchange also offers a wide range of cryptocurrencies for spot trading. Regardless of the popularity of the token, it is more likely to be listed on the exchange.
Beginners can now learn their trade conveniently with Advanced Trade to become seasoned pros. And seasoned pros can now harness the full spectrum of Coinbase’s elite features in one place. The exchange also rewards its users with free cryptocurrencies while learning. Advanced Trade is one of a kind in the crypto exchange sector as it offers advanced trading tools with no subscription fees.
Coinbase Security and Proof of Reserves and Liabilities
There is an outcry for crypto exchanges to be more transparent, especially after the collapse of the well-known crypto exchange, FTX. The disastrous fall and bankruptcy of FTX was unprecedented to some but there were already calls for transparency before then. Coinbase was among the first to publish its Proof of Reserves and Liabilities to be more transparent to its experienced and beginner traders, and regulatory bodies. The exchange’s CEO has publicly distanced the company from the practices associated with the downfall of FTX as it keeps customers’ funds secure.
The exchange had an IPO which exposes itself to audits to gain further investments. Its funds are kept offline in a cold storage wallet to mitigate security risks. Coinbase encourages its users to utilize 2-factor authentication to keep their accounts safe and enjoy the new and improved Advanced Trade. Crypto Lists will keep you up to date with all further Coinbase news and updates.