Coinbase Phasing Out 'Pro' Exchange: What You Need To Know

© Reuters. Coinbase Phasing Out ‘Pro’ Exchange: What You Need To Know

Major cryptocurrency exchange Coinbase (NASDAQ:) Global Inc (: COIN) plans to phase out Coinbase Pro, its trading platform targeted at more advanced traders.

What Happened: Coinbase said it plans to wind down its Pro service by the end of the year.

It is a standalone platform that is separate from where a majority of retail traders buy and sell cryptocurrencies like (CRYPTO: BTC), (CRYPTO: ETH), and (CRYPTO: DOGE).

The service will be replaced by a new feature called “Advanced Trade” that will exist within the app itself.

While Advance Trade offers comparable trading features, the news was met with skepticism from a number of traders on Twitter (NYSE:).


A large part of traders’ concerns was centered around a potential disruption in Coinbase Pro’s favorable fee structure. However, Coinbase plans to keep’s fee structure separate from that of Advanced Trade, suggesting that advanced traders might still benefit from less expensive trading fees.

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The Advanced Trade section is already live on and the crypto exchange plans to roll out a mobile version within the Coinbase app over the next few weeks.

Price Action: According to data from Benzinga Pro, Coinbase shares traded 1.25% lower during the after-hours session.

Meanwhile, at press time, Bitcoin was trading at $20,250, down 0.26% over the last 24 hours.

© 2022 Benzinga does not provide investment advice. All rights reserved.

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