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How to Transfer From Coinbase to Coinbase Pro
There are many reasons why you might want to transfer from Coinbase to Coinbase Pro. Although they are owned by the same company, the two exchange platforms function very differently. There’s a big difference when it comes to Coinbase vs. Coinbase Pro.
If you want to move from a buy-and-hold investment strategy to a higher-volume trading strategy, it is worthwhile to transfer from Coinbase to Coinbase Pro. If you want more in-depth information about your crypto assets, it is also worthwhile to transfer from Coinbase to Coinbase Pro.
Coinbase Pro as a cryptocurrency exchange only allows bank account, wire transfer, or digital Wallet transactions. It does not accept credit card or debit card purchases. If you want to deposit cash into your Coinbase account, you can transfer it from Coinbase to Coinbase Pro without paying additional fees.
It is very simple to transfer from Coinbase to Coinbase Pro. Simply follow the step-by-step guide provided below.
Can You Transfer From Coinbase to Coinbase Pro?
Yes, you can move any portion of your portfolio to Coinbase Pro at any time and with no additional fees.
You may have started your Coinbase account as a rookie crypto investor. You made use of their simple user interface and their video lessons to increase your knowledge and skills. But now you want more control over your trading decisions and need a more advanced user interface.
Or perhaps you started your Coinbase account when your crypto investing strategy was a buy-and-hold strategy. But now you want to make use of stop orders and limit orders to make more nuanced buying decisions. You want to move to an exchange platform that allows you to make high-volume trading decisions.
How to Transfer to Coinbase Pro
Although your Coinbase and Coinbase Pro accounts are linked, they have their separate wallets. Here’s how you can transfer from Coinbase to Coinbase Pro:
- Log into Coinbase Pro
- Go to the Coinbase Pro trading page
- Find the coin you want to deposit into Coinbase Pro
- Select your Coinbase Account
- Select Deposit at the bottom of the window
We’ll look at each of these steps in more detail below.
Step 1: Log into Coinbase Pro
You can log into Coinbase Pro by using your Coinbase account credentials. Just use your regular Coinbase Username and Password.
Step 2: Go to the Coinbase Pro trading page
You are wanting to deposit assets into your Pro account, so go ahead and find the “Deposit” button. This is usually on the portfolio page under the Wallet and can be found on the left-hand side of the page. Once you select “Deposit”, a pop-up window will appear.
Step 3: Find the coin you want to deposit into Coinbase Pro
Next, you will be prompted to select the currency type (i.e. BTC, ETC) that you’d like to deposit to Coinbase to Coinbase Pro.
You can select a currency type from pre-populated options that include the most popular currencies.
Or you can search for a specific currency if the one you’re looking for is not listed.
Step 4: Select your Coinbase Account
In the drop-down box, click on Coinbase Wallet. You will be able to see the available balance that is in your Coinbase wallet (from Coinbase) that you can transfer to Coinbase Pro. If you do not have any balance in it then jump over to Coinbase and add the funds there. You can also use your PayPal to add money directly to Coinbase.
Step 5: Select Deposit at the bottom of the window
Finally, just select the Source (which will be the wallet you want to transfer from), enter the Amount (which will be the amount you want to transfer), and then finish it off by hitting the Deposit <entered amount> button to transfer to Coinbase Pro.
That’s it! That’s how to transfer from Coinbase to Coinbase Pro!
Coinbase to Coinbase Pro Transfer Fees
If you transfer your Coinbase assets to a different cryptocurrency exchange, you incur a transfer fee. However, you can transfer your Coinbase assets to Coinbase Pro without incurring any fees! If you are looking for a more advanced exchange platform, moving your assets to Coinbase Pro makes a lot of sense.
Pros and Cons for Difference Users
While Coinbase Pro has its advantages, it’s not the best choice for everyone. Inexperienced investors will find the interface and experience complicated. Similarly, if you are employing a buy-and-hold strategy, Coinbase Pro’s high volume, tiered fee schedule might not be the best fit for you.
When choosing a crypto exchange, do your research. Each has its pros and cons and you should choose the exchange that best suits your trading strategy.
Alternatively, you might want to use Coinbase as the platform where you add money to your crypto account using a credit or debit card, or even Paypal. You can then transfer the balance to Coinbase at no additional fee and save money in the long run.
Reasons to Transfer to Coinbase Pro
Coinbase appeals to first-time crypto investors. With its simple user interface, simple charting, and user education built right in, you can learn how to transfer from Coinbase to Coinbase Pro become a crypto expert in no time.
Coinbase’s fee structure means you pay a lot of money per transaction. This is fine if you have a buy-and-hold trading strategy. But if you are wanting to make high volume trades, the fees are prohibitive.
Coinbase Pro, on the other hand, is made for investors who are looking to actively trade crypto. They use a maker-taker fee structure, giving users discounts for the number of trades performed on the platform. These fees start at 0.50% and taper downward for higher volume traders based on monthly trading volume.
Stop and Limit Orders
You can use stop orders and limit orders to make more nuanced buying decisions. Coinbase Pro also gives users advanced charting views. The standard view shows the candlestick chart of the high and low prices within a specific time frame. The advanced view can be set up so that it shows multiple overlays of the exponential moving averages. The improved access to information gives experienced traders more insight into how a cryptocurrency is performing.
For even more control over your crypto trading, Coinbase Pro gives access to their API keys. This means you can integrate third-party apps to integrate with your Coinbase account. You can set up your third-party apps for complete control over your cryptocurrency trading.