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Sunday, August 7, 2022

Coinbase Could Be Shutting Coinbase Pro Down

The professional trading platform of Coinbase, Coinbase Pro, will soon cease to exist as the cryptocurrency exchange recently unveiled its plans for restructuring the company services in order to bring them into a single platform. The crypto trading firm that has been based in the United States announced on Wednesday that it would start sunsetting the professional trading platform in order to migrate all the advanced trading services into a single unified account of Coinbase.

The services of the traditional platform would then be migrated towards Advanced Trade- which would be the new trading section that would be accessible through the website of the company. This section was previously launched in the March of 2022, which did provide the traders with a lot of in-depth analysis and actual trading directly on the crypto platform. 

Coinbase To Remove Coinbase Pro 

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According to the official announcement, Advanced Trade could look toward providing the same volume-based fees as Coinbase Pro did. Nevertheless, this would heavily depend on volumes as well as taker or maker orders. The fees of Coinbase Pro general go from 0% to 0.6%- as reported from the official website. The migration from Coinbase Pro to Advanced Trade won’t be a sudden movement- rather it would be taking place gradually over the next few months. This would supplement the new planned upgrades to Advanced Trade that are soon to take place. 

Coinbase also mentioned that it would be notifying all of its consumers about the exact dates when the trading platform will sunset. The announcement also states that the migration will definitely be aiming towards simplifying the trading process on Coinbase- as it will allow professional traders to start accessing the advanced trading tools, and further use the general features of Coinbase in a single place- using just one balance.

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