Coinbase Pro, formerly known as GDAX, is the professional trading platform from Coinbase designed for more experienced traders. It offers advanced features and tools that allow users to take their trading to the next level. In this article, we’ll review the key features of Coinbase Pro and provide a user guide to help you get started.

Key Features of Coinbase Pro

1. Advanced Trading Tools
   • Coinbase Pro offers a range of advanced trading tools, including charting capabilities and real-time market data. Users can access candlestick charts, technical indicators, and various timeframes to analyze price movements and make informed trading decisions.
2. Order Types
   • Unlike the standard Coinbase platform, Coinbase Pro supports multiple order types, including:
     • Market Orders: Buy or sell at the current market price.
     • Limit Orders: Set a specific price at which you want to buy or sell.
     • Stop Orders: Trigger a market order when the price reaches a specified level.
   • These options allow traders to execute their strategies more effectively.
3. Lower Fees
   • Coinbase Pro has a more competitive fee structure compared to the standard Coinbase platform. The fees are based on a maker-taker model, where users can lower their trading costs by placing limit orders instead of market orders.
4. API Access
   • For professional traders looking to automate their trading strategies, Coinbase Pro offers API access. This allows users to integrate third-party tools, trading bots, and algorithms to enhance their trading experience.
5. Wide Range of Supported Cryptocurrencies
   • Coinbase Pro supports a broader selection of cryptocurrencies compared to the standard Coinbase platform. Users can trade popular coins such as Bitcoin, Ethereum, and Litecoin, as well as many altcoins.
6. Security Features
   • Like its parent platform, Coinbase Pro emphasizes security. It employs industry-standard security measures, including two-factor authentication (2FA), cold storage for assets, and insurance for digital assets held in online storage.

How to Use Coinbase Pro: A Step-by-Step Guide

Step 1: Create a Coinbase Pro Account

If you already have a Coinbase account, you can easily access Coinbase Pro using the same credentials. Simply visit the Coinbase Pro website and log in. If you don’t have an account yet, you can create one by signing up through the Coinbase platform.

Step 2: Deposit Funds

Before you can start trading, you need to deposit funds into your Coinbase Pro account. You can transfer assets from your Coinbase account or deposit fiat currency via bank transfer or wire transfer. To deposit funds:

• Click on the “Deposit” button.
• Select your preferred funding method.
• Follow the prompts to complete the deposit.

Step 3: Explore the Interface

Once your account is funded, familiarize yourself with the Coinbase Pro interface. The layout includes:

• Order Book: Displays current buy and sell orders for different trading pairs.
• Price Charts: Shows price movements over various timeframes.
• Trading Pair Selection: Choose the cryptocurrency pair you want to trade (e.g., BTC/USD).

Step 4: Place an Order

To place a trade:

1. Select the trading pair you want to trade from the drop-down menu.
2. Choose the type of order you want to place (Market, Limit, or Stop).
3. Enter the amount you wish to buy or sell.
4. If placing a limit order, specify your desired price.
5. Review the order details and click “Place Order” to execute.

Step 5: Monitor Your Trades

After placing an order, you can monitor its status in the “Open Orders” section. You can also view your trade history and track your portfolio performance in the “Portfolio” tab.

Step 6: Withdraw Funds

When you’re ready to withdraw your funds, navigate to the “Withdraw” section. You can transfer your cryptocurrency to an external wallet or convert your assets back to fiat currency and withdraw them to your bank account.

Conclusion

Coinbase Pro is an excellent platform for professional traders looking for advanced features and tools to enhance their trading experience. With its competitive fees, a variety of order types, and extensive market data, Coinbase Pro caters to the needs of experienced users. If you’re ready to take your trading to the next level, sign up for Coinbase Pro today using this link: Join Coinbase. Happy trading!