GDAX goodbye! Hello Coinbase pro- New and improved features

Popular cryptocurrency exchange desk Coinbase, on May 23rd, had announced plans to shutter its digital asset platform GDAX to launch the new Coinbase Pro which will cater specifically to crypto-traders. Yesterday GDAX officially tweeted prompting its users to switch to coinbasepro. Coinbase Pro is an evolution of GDAX.

David Farmer, General Manager of Coinbase Pro on Medium said:

“On Friday, June 29, we say goodbye to GDAX and hello to Coinbase Pro. To take full advantage of this upgrade, we recommend you start using pro.coinbase.com now.”

Coinbase announcement on GDAX page | Source: Twitter

Coinbase announcement on GDAX page | Source: Twitter

Coinbase Pro is a new interface built on top of the existing GDAX trading engine. As per what Coinbase states, the pro upgrade has been designed with the needs of the active trader in mind. Coinbase Pro offers Industry leading API which lets the user develop secure, programmatic trading bots. It also offers Insurance protection with USD balances being covered by FDIC insurance, up to a maximum of $250,000 per customer.

The Medium account read:

“Coinbase Pro is more than a new name — it’s a recognition that the crypto trader requires a product completely dedicated to their specific needs.”

The new features on Coinbase pro include:

  • All transactions and related attributes from GDAX will automatically be shown in Coinbase Pro.
  • Aims to make the trading experience easier and more intuitive.
  • Deposit and withdrawal processes made simpler.
  • Easy navigation on the trading window and access historical data.
  • Consolidated portfolio view called “My Wallets” that lets customers see an overview of their account orders and balances.

Coinbase Pro also grants no fees on maker trades and offers volume-based discounts on all taker fees, going as low as 0.1%.

Coinbase first hinted at this upgrade a couple of months back when it unveiled plans to support tokens based on Ethereum‘s ERC20 standard on its exchange.

At present GDAX currently stands at 12th position with a trading volume of $134 million and has over 12 listing pairs namely BTC/USD, ETH/USD, LTC/USD etc., according to CoinMarketCap stats.

The Node Abides, a crypto enthusiast, and a Twitter user commented:

“Color theme on Coinbase Pro is too dark…GDAX is the perfect dark theme IMO.”

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