Coinbase announced yesterday that their trading platform GDAX is changing: It is evolving to a platform called Coinbase Pro. The platform will offer “professional trading tools and services, delivered through a completely re-engineered UI that will make the trading experience easier and more intuitive.” Let’s talk about exactly what features Coinbase will add and improve with Coinbase Pro.
What Will Happen To Existing GDAX Accounts?
All existing accounts on GDAX will automatically be switched over to Coinbase Pro. All transactions and balances will automatically appear on the new platform. GDAX and Coinbase Pro will operate side-by-side until June 29th, and after that all customers will be moved to the new platform.
Coinbase is redesigning the trading platform interface with Coinbase Pro. Check out a screenshot of the new platform below:
They are planning to offer improved charts and historical data. They will also have a new consolidated portfolio view called “My Wallets”, which let’s users see an overview of all their orders and balances.
Simplified Deposit and Withdrawal Processes
The launch of Coinbase Pro coincided with a big aquisition by Coinbase. Coinbase has reportedly purchased Ethereum startup Paradex. Paradex’s technolgy is expected to allow Coinbase users to trade directly from wallet to another. The technology is expected to cut out the middleman: The exchange. Paradex users have been able to directly transfer cryptocurrency between exchanges, and Coinbase is looking to adopt this technology for their new platform.
Coinbase users will still have the same trading fees. 0% for limit orders, .3% for taking liquidity. They will also still have all the same APIs and security features the current platform currently has.
All of the same countries that had access to GDAX accounts have access to Coinbsae Pro. Those countries include the US, Canada, Certain European countries (see list of countries here), UK, Australia, and Singapore.
You can create a Coinbase account and start buying cryptocurrencies here.