Can you transfer money from coinbase to coinbase pro

Coinbase is the entry point for many cryptocurrency holders, but as its users become more crypto-savvy, they are opting to transfer their assets to the more advanced Coinbase Pro.

Coinbase is the more simplistic version of the Coinbase Pro exchange and wallet. It offers an accessible user interface that doesn’t require much knowledge or experience to use. However, it does lack some features compared to the Pro version.

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Here’s how to transfer cryptocurrency to Coinbase Pro.

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Table of contents

How To Transfer From Coinbase To Coinbase Pro?

Is There A Fee For Transferring Funds From Coinbase To Coinbase Pro?

Should You Transfer From Coinbase To Coinbase Pro?

How To Transfer From Coinbase To Coinbase Pro?

Given both Coinbase and Coinbase Pro exist within the same exchange network, transferring between the two is relatively easy, and most importantly, free. Here’s what to do:

• Sign In or Sign Up For Coinbase Pro.
• Go to Coinbase Pro’s trading section.
• Click Deposit from the bar on the left side.
• Choose your desired cryptocurrency from the pop-up tab, and then select the transfer from Coinbase.com
• Input the amount you want to transfer to Coinbase Pro. If you want to deposit all of your cryptocurrency holdings, select Max.
• Press the Deposit button.

Read More: How To Withdraw Cryptocurrency From Coinbase And Transfer To Crypto Wallet?

And that’s it. While cross-exchange transfers such as those between Binance and Coinbase may be more complex (and riskier), it’s a relatively simple process for inter-Coinbase transfers.

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However, it is to be noted that coinbase has decided to merge Coinbase Pro with the advanced trade feature and Coinbase pro will no longer function as a seperate entity

Is There A Fee For Transferring Funds From Coinbase To Coinbase Pro?

As per its official website, Transferring funds from Coinbase to Coinbase Pro is free of cost, and no additional charges are levied on users who wish to transfer their funds from Coinbase to Coinbase Pro.

However, as far as other transactions are concerned, the user has to pay nominal charges to conduct cross-transfers to third-party apps, exchanges, and wallets.

To know more about Coinbase Fee Structure, click on this link here.

Should You Transfer From Coinbase To Coinbase Pro?

If you can get past Coinbase Pro’s less friendly user interface, the upgraded exchange offers a variety of extra features and charting compared to Coinbase, which makes it the perfect choice for more active traders.

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One of the key differences between Coinbase and Coinbase Pro is the fees. Fees on Coinbase do vary, but buying cryptocurrency using a bank transfer will see Coinbase take a 1.49% cut of the transaction. This Taker Fee is just 0.5% on Coinbase Pro - and it also drops lower for larger transactions over $10,000.

Read More: How To Stake Cryptocurrency On Coinbase: What Cryptocurrency Can You Stake On Coinbase?

It also allows users to trade more cryptocurrencies than the base Coinbase version. When Coinbase first listed SHIB, for example, Shiba Inu was only available via Coinbase Pro

Regardless, if you opt to try Coinbase Pro and realize you prefer Coinbase, you can transfer back to Coinbase. To do this, follow the steps above but select Withdraw from Coinbase Pro, rather than Deposit.

Read More: Coinbase NFT Waitlist Crashes As Over 600,000 Register For The Marketplace

[Image: Coinbase/Mohammad Alizade/Unsplash]

The Coinbase Pro cryptocurrency trading platform is shutting down for good in the coming days. Users who still have funds with the service will have their assets moved to Coinbase's main platform.

In recent months, the company has added aspects of Coinbase Pro — including its lower, volume-based trading fees — into a feature known as "Advanced Trade."

Coinbase said the transition would be complete in coming weeks, adding that customers can move their assets through a one-click process on its service.

"Your funds are always safe and secure with Coinbase, and your balance will be available to trade instantly," the company wrote in an email to customers.

How to migrate from Coinbase Pro

If you're a Coinbase Pro customer who wants to continue using Coinbase services after the transition, the process for moving your funds is relatively simple. When you open Coinbase Pro, you should see a banner at the top of the screen. Select the option that says "transfer funds."

If you're in the middle of trading, you can also use your portfolio view to move your funds to Coinbase's main service. Here's how:

1. If you have open orders, you'll get a prompt to cancel them. Coinbase won't transition funds involved in open orders.

2. Set the destination to "Coinbase.com."

3. Hit "withdraw" to confirm.

4. You can use the "withdrawals" tab to view the status of your transfer.

How Coinbase services fit together

Both Coinbase and Coinbase Pro are run by Coinbase, one of the most popular cryptocurrency platforms in the United States. The combined service will remain free to sign up, as both of its predecessors were. The company does have a subscription service called Coinbase One, which offers no-fee trades and other benefits in exchange for a monthly fee of around $30.

The "Advanced Trade" features have been added to the main service to beef up what had been a simpler interface that might appeal to beginners. Though those features remain, you can now use the basic service to toggle to a mode that offers lower fees for some transactions and additional data tools.

If you're selecting an exchange for the first time, it's worth noting that Coinbase has several formidable competitors. (See how Coinbase stacks up among the other crypto exchanges and platforms.)

If you've already decided on Coinbase, here are some details on how Advanced Trade will affect you:

One advantage that Coinbase Pro has traditionally offered is trading costs that are more predictable and potentially lower than those on the company's basic product. But this will be changing as Coinbase beefs up its core service.

Advanced Trade users pay up to 0.6% per trade, based on a maker-taker model that also provides discounts for high-volume traders. This is similar to the structure previously offered on Coinbase Pro.

Coinbase clients who don't use Pro or Advanced Trade, on the other hand, pay fees that vary based on factors including:

• Market conditions, including volatility and liquidity.

Coinbase will inform you of your fees before you finalize your transaction.

Historically, Coinbase's basic service users have been incentivized to buy and sell cryptocurrencies using fiat currency such as U.S. dollars. While it is possible to trade cryptocurrencies for one another, Coinbase charges a fee to do that on its classic platform.

Coinbase Pro users, on the other hand, have been able to trade digital assets for one another in what is known as crypto-to-crypto pairs without the fees found on the basic service.

Now, as Coinbase rolls out Advanced Trade more broadly, all users will be able to use crypto-to-crypto pairs. There are more than 500 trading pairs available for Advanced Trade, according to Coinbase.

All told, Coinbase has more than 170 cryptocurrencies available.

One of the key advantages of Coinbase's core service is that it allows users to earn rewards by holding certain cryptocurrencies on its platform. Coinbase Pro does not offer such a benefit.

One program Coinbase offers involves crypto staking, which is a process by which digital asset owners can earn additional cryptocurrency in exchange for helping to verify transactions on an underlying blockchain network.

While this can be challenging for beginning users to set up from scratch, exchanges such as Coinbase will do it for you, and pay you a portion of their rewards.

If you plan to do a lot of trading from a mobile device, you should note that Coinbase is still in the process of rolling out Advanced Trade on mobile.

For now, Coinbase does have apps on Android and iOS for both its basic service and its Pro offering, but going forward, the main app will host both the basic and advanced services.

Overall, Coinbase says it has taken a handful of steps to secure customers' assets. It says cash held on its platforms is subject to Federal Deposit Insurance Corp. coverage up to $250,000.

And it has said in regulatory filings that it has insurance that would cover a portion of the crypto assets it holds in the event of a breach. Coinbase said about 6,000 customers' holdings were breached in 2021, but it had fully repaid affected users.

Coinbase's basic service and Pro have mostly similar security features, though the company says that Advanced Trade offers some protections that were not available with Pro. These include the ability to use its Coinbase Vault service, which allows users to place additional restrictions on crypto withdrawal.

However, it's important to note that crypto exchanges can be targets for hackers because of the amount of value they store. If you want more control over the security of your digital assets, consider using your own crypto wallet to store the information that allows you to access your holdings.

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NerdWallet rating 

NerdWallet's ratings are determined by our editorial team. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities.

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NerdWallet rating 

NerdWallet's ratings are determined by our editorial team. The scoring formula for online brokers and robo-advisors takes into account over 15 factors, including account fees and minimums, investment choices, customer support and mobile app capabilities.

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