Coinbase to Phase Out Trader-Friendly ‘Pro’ Exchange – Decrypt
June 23, 2022
Coinbase announced today that it plans to discontinue its advanced, trader-focused Coinbase Pro service by the end of the year.
The standalone Pro service, which exists independently of Coinbase.com, offered lower fees to traders who interacted directly with the Coinbase Exchange order book. It will be replaced by Advanced Trade, a service that offers comparable features but that will live within the main Coinbase app and site.
In a blog post today, however, Coinbase cited duplicated features and “friction” when transferring balances back-and-forth between Coinbase.com and Coinbase Pro as the reason for sunsetting the latter.
Coinbase Pro users took to Twitter this afternoon to bemoan the service’s discontinuation, many citing its lower fees.
and I will never use Coinbase again, if the Coinbase Pro discounted rates aren’t included in this new “unified” trading interface… not gonna get ripped off paying retail trading fees
— LeGate☮️ (founder @ GoodPillow™) (@williamlegate) June 22, 2022
They’d better not drop the prices on Coinbase pro, or they’ll tank their business
The company, however, has committed to honoring Coinbase Pro’s fee structure in the new Advanced Trade section of Coinbase.com. Advanced Trade is already live for desktop users, and Coinbase plans to roll out a mobile version of the feature inside the Coinbase app in the coming weeks.
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