Coinbase has finally rebranded its GDAX platform and it’s called Coinbase Pro, which is hardly original, but it does at least completely link the platform with Coinbase central.
Although it is likely that the functionality and appearance of the platform will remain more or less the same, it is hope that it will now attract more new users. However, according to The Merkle, users have been experiencing major site issues, which are hopefully simply teething problems and won’t cause current users to migrate elsewhere.
When GDAX launched as a trading platform two years ago it was well received by the crypto community, and as The Merkle says, “It also allowed institutional traders and big players to buy and sell their favorite cryptocurrencies without crashing the Coinbase market in the process.”
When Coinbase announced the rebrand to Coinbase Pro, it also said, “The new platform would be built on top of GDAX’s trading engine, but would be tailored more toward active traders rather than regular consumers.” The name change suggests that Coinbase still wants to attract regular buyers as well as institutional investors and professional traders, this doing the smart thing and targeting two markets with one product.
Now, Coinbase Pro users will be able to trade various digital assets on an insurance-backed platform. Furthermore, the Coinbase Pro platform offers zero percent maker fees and volume-based discounts on taker fees. This is a new departure from how the main Coinbase platform operates.
If you are an existing Coinbase user you can upgrade to a Coinbase Pro account. It will be interesting to see how many current Coinbasers decide to do that and this may depend on what crypto assets are on offer. Currently, it is Bitcoin, Ethereum, Litecoin, and Bitcoin Cash and all of these currencies can be traded against the US dollar and euro, with Bitcoin also having a GBP pairing. If you’re a GDAX user, your account will simply be switched to the new platform.