Coinbase, one of the biggest cryptocurrency exchanges in the United States, has confirmed via a blog post authored by Dan Stone, Group Product Manager, and Andrew Herman, Engineering Manager at the exchange, that it will be shutting off Coinbase Pro,
Goodbye Coinbase Pro
Coinbase Pro is described as “a tool for advanced traders to conduct technical analysis and place trades by interacting directly with the Coinbase Exchange order book.” It was introduced in 2018 for technical analysts and traders. However, starting July, this service will be scraped off, and features such as staking, Borrow, dapp wallet, and Coinbase Card, will be brought to the standard Coinbase application and Coinbase.com website as Coinbase Pro will cease to exist.
All the features from Coinbase Pro will be added to the Advanced Trade which users can access via their accounts on the standard application. Furthermore, the users who already have their funds in the professional application can remain stress-free as these funds will be safe.
The decision has been taken to reduce friction between the users of the two applications and also to enable people to get access to all the benefits provided by Coinbase and Coinbase Pro under one roof.
Advanced Trade was introduced by Coinbase to offer services similar to the Coinbase Pro application. However, the firm will now boost the performance and features of the Advanced Trade feature on Coinbase before the “sunsetting” of the professional version is completed.
“Advanced Trade offers more in-depth technical analysis, advanced real-time order books, and charting powered by TradingView to help customers research and analyze crypto markets before making investment decisions,” the blog post added.
Advanced Trade also offers “improved order flows to make it easier and faster to place market, limit, or stop limit orders directly on Coinbase Exchange, which offers one of the deepest pools of liquidity.”