Coinbase vs. Coinbase Pro: How to choose between the basic and advanced crypto accounts

Bottom line: The basic Coinbase account best suits beginner and intermediate-level traders who want a simple interface and access to a variety of crypto products. Coinbase Pro , on the other hand, is best for advanced, active traders who want access to lower fees and more in-depth interfaces and tools. Coinbase vs. Coinbase Pro: The biggest differences The Coinbase standard account and Coinbase Pro are simply two separate account types within the same exchange. Formed in 2012, Coinbase is a crypto exchange offering well over 100 assets and serving both individuals and institutions across the globe. Coinbase and Coinbase Pro best serve crypto traders who want exposure to a variety of assets and features, including crypto wallets and mobile access. The key difference between the two platforms is that Coinbase Pro is specifically designed for advanced users in search of greater trading capabilities. The standard Coinbase account better suits traders who value ease of use. Coinbase Account Minimum $2 Fees 0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.50% for Coinbase Pro Investment Types Cryptocurrencies 4.22 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.22 out of 5 Stars Editor’s Rating Learn More Coinbase 4.22 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.22 out of 5 Stars Editor’s Rating Learn More Account Minimum $2 Fees 0.50% spread for buy/sell transactions; transaction fee from $0.99 to $2.99; up to 0.50% for Coinbase Pro Investment Types Cryptocurrencies Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Pros Buy, sell, or store more than 100 cryptocurrencies like bitcoin and dogecoin Educational investment resources, mobile access, digital storage, and customer support Low account minimums Can earn rewards for certain cryptocurrencies Coinbase card lets you spend crypto or USD anywhere and earn crypto rewards; can deposit your paycheck into your account and convert from USD to crypto with no fees Cons No crypto futures or margin accounts Pay more for lower balances Not for users who want external storage wallets crafted by personal wallet companies High trading and transaction fees Read Our Review Read Our Review A looong arrow, pointing right Details Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. More Information Promotion: Get $5 of bitcoin when you join Coinbase Features: Coinbase Earn rewards, Coinbase Pro advanced account, user-controlled storage, stablecoins, staking, and institutional trading tools. App store rating: 4.7 iOS/ 4.3 Android Coinbase Pro Account Minimum $0 Fees 0.05% – 0.60% taker fees; 0.00% – 0.40% maker fees Investment Types Cryptocurrencies 4.27 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.27 out of 5 Stars Editor’s Rating Learn more Coinbase Pro 4.27 /5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.27 out of 5 Stars Editor’s Rating Learn more Account Minimum $0 Fees 0.05% – 0.60% taker fees; 0.00% – 0.40% maker fees Investment Types Cryptocurrencies Pros & Cons Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Pros No account minimum to get started Traders can access charting tools, real-time order books, trading history, and market data The trading API lets you create secure trading bots Traders can use limit and stop orders Cons Can’t buy crypto with debit card Details Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. More Information Promotion: None at this time. App store rating: 4.7 iOS/ 4.1 Android Coinbase and Coinbase Pro’s features and account options also vary. Coinbase Coinbase Account types Personal investment Institutional Account types Personal investment Investment choices Cryptocurrencies Investment choices Cryptocurrencies Account perks 170+ cryptocurrencies Coinbase Earn pays you in crypto for watching educational videos about different assets Staking rewards of up to 5% Digital wallet services Beta version of NFT platform offers charges 0% Coinbase Card offers crypto spending perks Account perks 170+ cryptocurrencies Websocket feed with the latest market data Trading API lets you build trading bots Charting and trading tools Users can take advantage of stop and limit orders Digital wallet services Human advisors available? No Human advisors available? No Robo-advice? No Robo-advice? No Is Coinbase right for you? Pros Low account minimum Staking rewards of up to 5% Web and mobile platforms for basic account Educational investment resources, mobile access, digital storage, and customer support Cons No stop or limit orders; US users have to pay a 1.5% fee for instant debit card cashouts Higher fees than Coinbase Pro The standard Coinbase account offers access to more than 170 cryptocurrencies, including bitcoin, ethereum, dogecoin , litecoin, and many more. You can utilize a vast array of products, including staking, Coinbase Earn (an educational program that pays you in crypto rewards for taking courses on different cryptocurrencies), Coinbase Borrow, and the Coinbase NFT platform. Coinbase also gives institutions a variety of services to choose from, including Coinbase Institutional, the Coinbase Prime brokerage platform, institutional-grade offline storage, ventures services for crypto startups, commerce services, and much more. Coinbase also released a beta version of its NFT trading platform, so it could be a great option for either creators who want to sell digital art and other items, or collectors who want to buy and/or buy and resell NFTs on the secondary market. The platform also offers no transaction fees for a limited period of time ( see more here ). You can use the Coinbase mobile app on both iOS and Android devices. Read Personal Finance Insider’s complete review of Coinbase here » Is Coinbase Pro right for you? Pros No fees to upgrade from the basic Coinbase account Account includes separate web platforms and mobile apps Advanced traders gain access to Websocket feed with market data, trading APIs, charting tools, and much more Users can take advantage of additional order types such as limit orders and stop orders Cons Can’t buy assets with debit cards Coinbase Pro is best for advanced crypto traders who want more in-depth trading functionality and tools. As with the standard account, you’ll also have access to more than 170 cryptocurrencies. But this account offers much more. It includes a Websocket feed that provides real-time data, charting tools, and a trading API that allows users to build their own trading bots. Traders automatically get $250,000 coverage in FDIC insurance for US dollar balances (this insurance also applies to the basic account). Account funding methods are more limited when it comes to Coinbase Pro, though. The account generally allows for crypto transfers, ACH or SEPA transfers, and wires. With the standard account, however, you can utilize any of the above methods in addition to debit cards, Apple pay, and more. Existing or prospective Coinbase users should also note that both accounts rely on the same security measures (two-factor authentication, crypto vault storage, and more). Coinbase and Coinbase Pro’s crypto selection is also mainly identical, with the exception of a few assets (like golem). In addition, Coinbase Pro traders can also take advantage of limit orders and stop orders. Coinbase Pro also provides iOS/Apple and Google Play mobile apps. Read Personal Finance Insider’s complete review of Coinbase here » Rickie Houston, CEPF Wealth-Building Reporter Rickie Houston is a wealth-building reporter for Business Insider, tasked with covering brokerage products, investment apps, online advisor services, cryptocurrency exchanges, and other wealth-building financial products. He is also a Certified Educator in Personal Finance (CEPF). Previously, Rickie worked as a personal finance writer at SmartAsset, focusing on retirement, investing, taxes, and banking topics. He’s contributed to stories published in the Boston Globe, and his work has also been featured in Yahoo News. He graduated from Boston University, where he contributed as a staff writer and sports editor for Boston University News Service. 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