Coinbase is an American crypto exchange and trading platform that uses the best practices of the financial industry. Coinbase Prime is its subsidiary which acts as a dedicated platform for corporate institutions to manage crypto trades professionally. The corporate sector has no boundaries for the buying and selling of shares associated with a company or a group of companies. Our Coinbase Prime review aims to thoroughly discuss Coinbase’s structure and certain services given to the institutes or corporate sector.
Advanced institutional trading capabilities
Coinbase rolls out advanced institutional capabilities in a few months. This means that institutions can secure membership first then gain access to trading capabilities in a few months after verification of the membership.
Topnotch trading capabilities
Coinbase’s topnotch trading capabilities include margin finance, high touch OTC block trading, and algorithmic execution.
If you are an organization looking to increase finances, then you should join hands with Coinbase Prime. Margin finance means that a progressing institution can outsource its shares to get a boost in its finances. The organizations and individuals will buy these shares based on the reputation of one’s company.
In OTC block trading, the process of selling and buying shares in the stock market is supported by Coinbase Prime.
Algorithmic execution tells that all the trades take place on behalf of the quality software. After all, the powerful processes and procedures can’t be manipulated manually.
Dedicated teams
Coinbase has dedicated teams for the deployment and training of an institution’s workforce.
The dedicated teams based in New York City will help clients to meet their trading requirements. They manage teams by offering training to their workforce. After completing the training, the institutions will be able to go onboard with their shared accounts.
Resilient, trusted, and secure platform
Coinbase claims that its primary goal is to be the trusted, secure, and resilient platform that also offers high-end security. That’s what makes it the most trusted platform.
So far, this Coinbase review must have given you a good idea of what Coinbase prime is and what it offers to its clients. Ahead, you will see the comparison of Coinbase prime and Coinbase pro.
Related article: Unique Ways To Earn Cryptocurrency
Coinbase Pro vs. Prime – A Little More About Coinbase Pro
Coinbase Pro is a service launched by Coinbase for individual clients, while Coinbase Prime is a corporate level platform that enables its clients to grow their finances by making a pool of shares.
Coinbase Pro lacks these features as it is only designed for individuals. Both are entirely different from each other.
Here are the top features of Coinbase Pro for those who want to make money with Coinbase:
- Coinbase Pro is a platform for individuals to trade in crypto.
- It supports various cryptocurrencies, including Bitcoin, ETH, Bitcoin Cash, and Ripple.
- It charges 0% to the maker and 0.25% to the taker.
- Coinbase Pro operates in 32 cities all over the world.
- In the operational cities, one can buy Bitcoin with fiat money and start trading in crypto.
Taker vs. Maker
The person that places the trade order is called Taker, while the person that waits for the order to arrive is called Maker. The trading fees at Coinbase pro vary from order to order.
About Coinbase
We’re aware that the introductory part of Coinbase is missing till now. Here’s a glimpse into it: Coinbase is a reliable trading platform with several crypto financial services. GDAX, which stands for Global Digital Asset Exchange, used to be an individual service a few years back. They rebranded themselves as Coinbase Prime after Coinbase acquired it.
Alternative Products to Coinbase Prime
First, look into the business kind of Coinbase Prime. This is a platform acquired by Coinbase a few years back. It aims to offer financial services to corporate institutions to help them buy and sell shares. The worth of a company’s share is based on the reputation of the company.
Any platform that offers similar services can be called the alternative to Coinbase Prime. The stock markets around the world use similar models to help the corporate sector to win shares from investors. However, the mode of currency is fiat in such trades.
We can say that your local stock markets could be an alternative to Coinbase Prime if you’re looking to pool your company’s shares in fiat. To do that in crypto, you may want to try Robinhood crypto as it is the most popular platform that offers services similar to Coinbase Prime.
Ways to make money with Coinbase
Coinbase is a crypto exchange and trading platform where you can stake your mined/bought currency to make money. How do businesses enter Coinbase to generate revenue?
Coinbase Prime is the answer. It provides organizations with a platform to pool their shares for individuals and companies to buy. A reputable company attracts more investors to buy its shares. This is how the companies make profits with Coinbase. Both individual investors and companies find this platform as a safe and profitable option to make money with Coinbase.
Final Thoughts
So this was the necessary information about Coinbase Prime with a touch of other domains of the company such as Coinbase Pro. Almost everything relevant has been mentioned here. Now, it’s up to you to analyze your requirements and decide whether Coinbase Prime is the right choice for you or not.
FREQUENTLY ASKED QUESTIONS
How is Coinbase Prime different from Coinbase Pro?
The target audience of both the programs by Coinbase is different. Coinbase Pro invites individuals to invest, trade, and make money with Coinbase. Coinbase Prime, on the other hand, is for the corporate sector to pool shares in the market. The value of shares is decided in cryptocurrency. You can say Coinbase Prime is very much similar to stocks/share markets of the countries. The only difference is that stock markets deal in the local currency of the country, while Coinbase Prime deals in cryptocurrency.
Is Coinbase Pro better than Coinbase?
Coinbase offers instant buying and selling of stocks at higher fees than Coinbase Pro. Plus, in Coinbase Pro, immediate buy/sell is compromised, and you might have to wait for buying and selling the stock. The good thing is that its fees are lower. In short, both have pros and cons. A disadvantage of using Coinbase Pro is that you may face significant losses when you wrongly predict fluctuations of your crypto just for small fees. It’s all up to you now which platform you want to go with.
Does Coinbase Pro cost money/fees?
Yes, Coinbase Pro has fees. There is a concept of Taker and Maker for placing orders on Coinbase Pro. Takers are the users that place the order and pay fees while makers are the ones that receive the order for free.
It depends on the situation whether a user has to be a Taker or Maker. In any case, the fees are small.
What is the cheapest way to buy Bitcoin?
The cheapest way to buy Bitcoin is to buy it from another person. There are several online platforms where people put their crypto to sell. The best thing is that you don’t have to pay any fees if you go with this type of option.
On the other hand, a user has to pay fees if they intend to buy Bitcoin through banking or some crypto exchange. The first option is less reliable compared to purchase Bitcoin from banks or crypto exchanges.
How do I convert Bitcoin to cash?
Converting Bitcoin or any other cryptocurrency to fiat currency via Coinbase is very simple. You will have to associate a bank account with Coinbase when buying crypto. After the purchase, you can cash your crypto assets back to your bank account via a few simple steps on the Coinbase website.