Coinbase to shut down Coinbase Pro to merge trading services

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Coinbase’s professional trading platform Coinbase Pro will cease to exist as the cryptocurrency exchange is restructuring services to bring them all into one platform.

United States-based crypto trading firm Coinbase officially announced on June 22 that it will begin sunsetting Coinbase Pro to move all advanced trading services into a single unified Coinbase account.

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The services of Coinbase Pro will be migrated to Advanced Trade, the new trading section of Coinbase, available on the main website of the exchange, coinbase.com. This segment was initially launched in March 2022, providing traders with in-depth analysis and real-time trading directly on Coinbase.

According to the announcement, Advance Trade will offer volume-based fees similar to Coinbase Pro. According to data from Coinbase’s official website at the time of writing, Coinbase Pro fees range from 0% to 0.6%, depending on volume and taker or maker orders.

The upcoming migration of Coinbase Pro to Advanced Trade will happen gradually over the next several months as the exchange continues to launch new upgrades to Advanced Trade.

Coinbase noted that it will notify its customers of the exact dates for sunsetting Coinbase Pro, adding:

“For customers who have funds on Coinbase Pro, no action has been taken – funds on Coinbase will remain safe. In the meantime, customers are welcome to start using the Coinbase mobile app and Advanced Trade on Coinbase.com.”

Per the announcement, the migration aims to simplify the trading process on Coinbase by allowing professional traders to access advanced trading tools and use common Coinbase features in one place using a single balance. “In the past, advanced traders have used Coinbase Pro for more in-depth trading and analysis. But to use other Coinbase features, you must transfer funds to your primary Coinbase account,” the firm said.

Launched in 2012, Coinbase is a publicly traded company and is one of the largest crypto trading platforms in the world. The company launched Coinbase Pro in 2018, targeting professional investors and focusing on expanded trading services, providing exposure to more cryptocurrencies.

related: Crypto Exchange Coinbase Lays 18% Off Employees Amid Bear Market

The original Coinbase platform primarily targeted beginners, reportedly supporting around 100 cryptocurrencies, while Coinbase Pro provided exposure to over 250 digital assets. Coinbase Pro also offers unlimited trading amounts, whereas the basic generic Coinbase platform has limited trading volume based on payment methods and regions.