Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
Coinbase Pro entered the market to provide advanced cryptocurrency users with more flexibility and functionality in the market. The platform shares many similarities with its predecessor Coinbase but features a more sophisticated toolset and fee structure. The platform’s goal was to improve upon the professional cryptocurrency trading experience and make it easier and more intuitive for users.
As a Coinbase family member, the Coinbase Pro exchange is one of the world’s largest and most recognizable digital currency exchanges. This world-class network of exchanges stands as one of the most established and reliable platforms available to users today.
Benefits of The Coinbase Pro Exchange
Despite the Pro in its title, this exchange is ideal for both professionals and crypto newcomers. The network introduces a simple order process that allows immediate trading. Users can easily monitor all of their relevant trading data from the interface, and the setup process is a breeze.
Coinbase Pro’s interface is well designed. This intuitive control panel provides access to charting tools, real-time order books, and your full trade history. The interface’s overall design is cleaner than many of its rivals and provides users with access to some features unique to the platform.
Few exchanges can match the high trading volume present on Coinbase Pro. All of this trading activity equals higher liquidity. Users always find a buyer for their digital assets on the platform.
Coinbase Pro also introduces lower fees than Coinbase. Since the network is catered to the professional trader, it’s ideal to find the best price for your favorite digital assets. The network relies on a maker-taker fee model for determining its trading fees. Orders that provide liquidity, maker orders, are charged different fees than orders that remove market takers’ liquidity.
Coinbase is one of the world’s largest Bitcoin exchanges and brokers. Additionally, it’s fully regulated and insured. Surprisingly, all fiat deposits are federally insured up to $250,000. On top of these benefits, the platform has overwhelming support from the community and is backed by trusted investors.
Coinbase Pro supports API integration. This feature allows users to utilize third-party trading tools such as Bots and outside interfaces. API support makes Coinbase Pro more versatile and adds to its overall usefulness.
Much like its predecessor, Coinbase Pro serves a valuable role as one of the main fiat on-ramps into the blockchain sector in North America. Users can purchase a nice selection of coins directly using a bank, credit, or money transfer.
Coinbase Pro takes security seriously. For example, 98% of Coinbase customer funds are stored offline in cold storage. Additionally, all the network’s drives and paper backups are spread out geographically in safe deposit boxes and vaults.
How Does The Coinbase Pro Exchange Work
Coinbase Pro provides professional trading tools and services. Anyone can place market, limit, and stop orders on the platform in seconds. These features are accessible from the main trading view and only take seconds to execute.
One of the biggest draws for this platform is its advanced mobile application. Currently, users can download this powerful trading tool for iOS and Android devices for free. Once installed, you gain access to a full suite of trading activities. You can even monitor live updates to charts and place limit and market orders directly from your smart device.
In February 2020, Coinbase Pro introduced a Margin Trading feature to approved traders. This feature allows professional investors to borrow funds from a lender to trade and increase their ROI potential. Notably, Margin trading is an advanced trading strategy that also increases your risk exposure.
History of The Coinbase Pro Exchange
Coinbase Pro’s history begins with Coinbase in San Francisco. Coinbase initially launched in 2012. In 2015, developers decided it was best to establish a US-based exchange for professional traders. They called this platform the Coinbase Exchange.
The following year, this platform was rebranded to the Global Digital Asset Exchange, or GDAX. GDAX brought with it a new user interface. In 2018, GDAX became Coinbase Pro officially. Since that time, Coinbase Pro managed to gain more users and is now one of the world’s top exchanges in terms of market cap.
How to Use The Coinbase Pro Exchange
If you already have a Coinbase account, using Coinbase Pro is easy. Your Coinbase original password and verification is already registered with the firm, so you don’t need to do any of these processes again. You can sign in to Coinbase Pro using your regular password. Notably, you can quickly transfer funds between the regular Coinbase and Coinbase Pro wallets using the withdrawal feature.
Start From Scratch
If you don’t have a Coinbase account already, you will need to complete the scratch registration process. You will need to click the register tab on the top of the screen. Here you will be prompted to enter your name, email address, and a password to use for sign-ins. Notably, you will also need to complete a full KYC/AML verification process. This process is one of the most thorough in the market and requires you to submit your ID, social security, and in some cases, a video call.
Once your KYC requirements are met, you gain access to your trading functions. You will then want to go to the Assets tab and select the option marked Deposit. Once you fund your account, trading is similar to most exchanges. You choose the trading pair you desire and the amount.
You can select your market and view your wallet balance on the left hand of your trading interface. Below this option is where you place different types of buy and sell orders. In the central section of the interface, you will notice the order book and price charts. To the right of this, there is your trade history.
Coinbase Pro – A Smart Option for both Advanced and Regular Users
Coinbase Pro exchange’s reduced fees and more options make it a smart choice for traders of all types. The platform’s design and overall aesthetics are pleasing and make it easy to complete your trades. Coinbase Pro earned its reputation as a top contender in the market after providing excellent service for years. For these reasons, Coinbase Pro will remain one of the most recognizable names in the sector moving forward.