Coinbase, one of the most popular cryptocurrency exchanges, is shutting down its professional trading platform, Coinbase Pro.
The news was announced in a blog post on the Coinbase website, which stated that the decision was made in order to focus on the company’s core mission of building an easy-to-use crypto exchange.
Coinbase Pro was launched in 2018 as a more advanced trading platform for cryptocurrency investors. It offered features such as margin trading and a more sophisticated order book.
NOTE: WARNING: There have been recent rumors that Coinbase Pro may be shutting down. However, these rumors are false and Coinbase Pro is still in operation. Please be aware of scams and false information regarding this matter. Do not provide any personal information or send money to anyone claiming to represent Coinbase Pro in any way.
However, the platform never gained much traction and only represented a small fraction of Coinbase’s overall business.
The shutdown of Coinbase Pro is effective immediately. All open orders will be canceled and customers will be refunded.
Coinbase has been under pressure recently as the crypto market has been bearish for the past year. The company has laid off staff, closed down its office in New York, and shuttered several products.
It seems that the decision to shut down Coinbase Pro is part of a larger effort to streamline the company and focus on its core products.
4 Related Question Answers Found
If you’re looking to cash out your Bitcoin, you’re in luck. Coinbase allows its users to withdraw their Bitcoin instantly. Here’s how it works:
Once you’ve chosen the amount of Bitcoin you’d like to withdraw, simply click on the “Withdraw” button.
As the largest US-based cryptocurrency exchange, Coinbase has enjoyed a dominant position in the market. However, recent data suggests that Coinbase may be losing market share to its competitors. Coinbase has been facing increased competition from other exchanges, particularly those based in Asia.
It appears that Coinbase is down for some users right now. We have reports of people being unable to login or connect to the site. We’re checking into it and will update this article as we learn more.
If you place an order at the market price that gets filled, you are charged a taker fee. If you place an order that doesn’t get filled immediately, you may be charged a maker fee. Coinbase Pro charges maker fees at 0% and taker fees between 0.10% and 0.25%.