How do I use Coinbase Pro's advanced order features for trading ?

tBTC

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Jul 10, 2023
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I'm new to trading on Coinbase Pro and I'm having trouble understanding the advanced order features. Specifically, I'm not sure how to use the limit and stop orders, and how they differ from each other. I've read the Coinbase Pro guidelines and I understand the basics, but I'm still not sure how to use these features effectively. Can anyone provide some advice or tips on how to use these orders for trading? Any advice would be greatly appreciated.
 

Celsius-Network

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Jul 9, 2023
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Introduction

Coinbase Pro is a digital asset exchange platform that offers traders advanced order features for trading. Coinbase Pro's advanced order features allow traders to take advantage of the market volatility and make informed trading decisions. In this article, we will discuss how to use Coinbase Pro's advanced order features for trading.

What are Coinbase Pro's Advanced Order Features?

Coinbase Pro's advanced order features are designed to give traders the ability to take advantage of market volatility and make informed trading decisions. These features include limit orders, stop orders, margin trading, and post-only orders.

Limit Orders

A limit order is an order that is placed to buy or sell a certain amount of a certain asset at a predetermined price. The limit order will only be executed if the market price reaches the predetermined price.

Stop Orders

A stop order is an order that is placed to buy or sell a certain amount of a certain asset when the market price reaches a predetermined price. The stop order is often used to limit losses or protect profits.

Margin Trading

Margin trading is a type of trading that uses borrowed funds to purchase assets. Margin trading allows traders to increase their buying power and take advantage of market volatility.

Post-Only Orders

Post-only orders are orders that are placed to buy or sell a certain amount of a certain asset at a predetermined price. The post-only order will not be executed if the market price has already reached the predetermined price.

How to Use Coinbase Pro's Advanced Order Features for Trading

Coinbase Pro's advanced order features can be used for trading by following the steps below.

Step 1: Decide on the asset you want to buy or sell and the amount you want to trade.

Step 2: Select the type of order you want to place.

Step 3: Enter the price at which you want to buy or sell the asset.

Step 4: Submit the order.

Step 5: Monitor the market to see if the order is executed.

Conclusion

Coinbase Pro's advanced order features can be used for trading by following the steps outlined above. By using these features, traders can take advantage of market volatility and make informed trading decisions.
 

Lucinda

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Aug 7, 2023
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Coinbase Pro Transition: What's Changing and How It Affects You

In a significant move in June 2022, Coinbase made waves by announcing the phasing out of Coinbase Pro. This decision was fueled by the introduction of Coinbase Advanced Trade, a consolidated platform aiming to offer an all-encompassing experience for crypto investors. This article breaks down the transition, the new features of Coinbase Advanced Trade, and the steps for existing and new users to adapt seamlessly.

The Shift from Coinbase Pro to Coinbase Advanced Trade

Coinbase Pro users found themselves in the midst of change when Coinbase decided to retire the platform in favor of the more comprehensive Coinbase Advanced Trade. This shift was primarily driven by the incorporation of new features like staking and the Coinbase Card into Coinbase.com and the Coinbase app. The objective was to create a more cohesive environment for professional crypto investors, streamlining their experience by consolidating services onto a single platform.

The transition process began on November 14, 2022, with Coinbase initiating the migration of customer accounts from Coinbase Pro to Coinbase Advanced Trade. For users who hadn't made the switch yet, there's no need to panic, as Coinbase assures that funds held on Coinbase Pro will be seamlessly credited to the new Coinbase platform.

Introducing Coinbase Advanced Trade

Coinbase Advanced Trade steps into the limelight as the advanced trading platform designed specifically for professional crypto traders and investors. This platform comes packed with an array of features, including an extended range of chart analysis tools, the opportunity to earn up to 6% staking rewards on various digital assets, and enhanced security measures. Importantly, users will continue to enjoy the same low volume-based fees that were prevalent on Coinbase Pro.

Impact on Trading and Enhanced Features

The phasing out of Coinbase Pro brings forth a significant impact on trading dynamics for Advanced Trade users. They now have access to trade over 550 cryptocurrency pairs, an increase of 200 pairs compared to Coinbase Pro, while maintaining the same liquidity and order types.

Traders will also benefit from a more extensive suite of technical analysis indicators, powered by TradingView, reducing the need for third-party charting tools. Additionally, the introduction of staking rewards for assets like USDC and staked ETH (ETH2) presents a new avenue for investors to earn up to 6% APY, a feature not available to Coinbase Pro users previously.

Trading fees remain consistent on Advanced Trade, starting at 0.4% for price makers and 0.6% for price takers, with actual fees dependent on individual trading volumes. Security remains a top priority, with features such as monitored cold storage facilities, FDIC-insured U.S. dollar balances, YubiKey support for mobile app users, and the option to store funds in Coinbase vaults.

Migrating from Coinbase Pro to Advanced Trade

For existing users looking to migrate their funds from Coinbase Pro to Advanced Trade, the process is straightforward. Follow these steps:

Sign in to your Coinbase Pro account and navigate to "Portfolios."
Click "Withdraw."
Choose "All Portfolios" to transfer all crypto assets to Coinbase.com.
Select "Transfer to Coinbase."
To start using Advanced Trade, click on the "Trade" tab and choose "Advanced Trade" in your Coinbase mobile app or visit https://www.coinbase.com/advanced-trade on the web.
Getting Started for New Coinbase Users

For those new to Coinbase, setting up an account is a breeze:

Visit coinbase.com or download the Coinbase app on your smartphone.
Click on "Get started" and provide your full name, email address, password, and state.
Verify your email address and add your mobile number for further verification.
Complete the identity verification process by providing personal information and uploading a government-issued photo ID.
Set up two-factor authentication for added security.
Link a payment method to finalize the account setup.
Once the registration process is complete, users can access the Advanced Trade account within the Coinbase app or by visiting https://www.coinbase.com/advanced-trade online.
 

Maureen

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Aug 7, 2023
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Coinbase Advanced Trade Unveiled: A Comprehensive 2024 Review
In this detailed exploration, we delve into the intricacies of Coinbase Advanced Trade, dissecting its standout features and unraveling how it elevates users into the realm of professional-grade cryptocurrency trading through an intuitive platform.
Table of Contents
  1. Coinbase Advanced Trade vs Coinbase Pro
  2. Manual and Automated Trading with Coinbase
  3. User Interface
  4. Available Trading Pairs on Coinbase
  5. Coinbase Trading Volumes
  6. Coinbase Trading Fees
  7. Coinbase Security Policy
  8. Coinbase Know Your Customer Policy
  9. Using Bitsgap Bots on Coinbase Advanced
  10. Integrating Coinbase Advanced with Bitsgap Automated Trading Bots
  11. Bottom Line
  12. FAQs: Does Coinbase Have Automated Trading? How to Automate Trading on Coinbase?
Evolution from Coinbase Pro to Coinbase Advanced Trade
In a transformative move, Coinbase Pro has morphed into Coinbase Advanced Trade, ushering in an array of previously exclusive features for all users within the main Coinbase app. Let's dive into the exciting details of Coinbase's latest iteration, Advanced Trade, in this all-encompassing review!
Founded in 2012 by Brian Armstrong and Fred Ehrsam, Coinbase has become a cryptocurrency juggernaut, reaching a historic milestone in 2021 as the first crypto exchange to go public on the NASDAQ. With a substantial user base of 98 million and a revenue of $3.1 billion in 2022, Coinbase competes fiercely with giants like Binance, holding top ranks in Coinmarketcap's global exchange rankings.
Coinbase, fully regulated and licensed in the U.S. (excluding Hawaii), has expanded its institutional business, serving over 9,000 institutions. In 2023, institutional trading volume soared to $78 billion, with $128 billion in assets held on the platform. Noteworthy partnerships with SpaceX, Tesla, and others solidify Coinbase's position as a leading player in the crypto space.
Offering a plethora of services, Coinbase caters to diverse needs, ranging from cryptocurrency investing and advanced trading to custodial accounts, wallets, credit cards, NFT marketplace, staking, borrowing, and even its own stable coin (USDC).
Coinbase Advanced Trade vs Coinbase Pro
While the Coinbase Pro page remains active, new sign-ups now seamlessly transition to Advanced Trade, marking the retirement of Coinbase Pro. This shift incorporates aspects of Coinbase Pro, including its attractive lower, volume-based trading fees, into the new feature known as "Advanced Trade."
Advanced Trade is Coinbase's cutting-edge trading platform tailored for seasoned traders. It facilitates buying, selling, and trading digital assets across a variety of pairs. Armed with enhanced tools like TradingView-powered charts, advanced order types, and access to Coinbase's additional features, Advanced Trade retains the free sign-up feature. Coinbase One, a subscription service for around $30 per month, offers benefits like no-fee trades.
The introduction of "Advanced Trade" features enriches the platform's interface, providing lower fees for some transactions and additional data tools. The differences between Coinbase Pro and Coinbase Advanced, highlighted below, showcase Advanced Trade's game-changing potential, offering up to 7% APY on eligible crypto balances, enhanced security, and superior charting instruments.
Manual and Automated Trading with Coinbase
Coinbase offers a user-friendly interface accessible via web browsers and mobile apps, including the more advanced Coinbase Advanced. Ideal for newcomers, Coinbase provides an intuitive entry point into cryptocurrency investment, complemented by educational resources and robust security protocols.
Coinbase Advanced Trade, the proprietary feature, caters to seasoned traders with a trading terminal featuring comprehensive research tools, order books, and trading history. It empowers manual trading and supports third-party automated trading services, such as trading bots like Bitsgap, through Application Programming Interfaces (APIs). Users can execute various orders at reduced commission fees and engage in margin trading using sophisticated charting tools.
The slightly more complex user interface of Coinbase Advanced Trade is offset by lower fees and advanced features, making it an excellent choice for implementing automated bots, especially those focusing on high-frequency trading.
User Interface
Coinbase boasts a clean and user-friendly layout, showcasing portfolio holdings, price charts, and recent trading activities at a glance. Quick access to trading tools, features, and account settings enhances its appeal, making it a top choice for crypto novices.
Coinbase Advanced Trade adopts a sleek and clutter-free design, maintaining Coinbase's user-friendly ethos. With a cool dark theme, it offers a partitioned interface with sections for choosing market types, viewing balances, and placing orders. The central area houses the order book and price chart, while the right section displays trade history. The intuitive interface makes it suitable for both beginners and experienced traders exploring crypto beyond the basics.
Available Trading Pairs on Coinbase
Coinbase presents an extensive selection of over 240 assets, leading to 500+ unique trading pairs. However, different coins come with varying limits, and certain pairs may have restrictions based on user location. Notable choices for both manual and automated trading include Bitcoin (BTC), Ethereum (ETH), Uniswap (UNI), and Dogecoin (DOGE).
Coinbase Trading Volumes
Despite a decline in trading volumes, Coinbase remains a formidable player in the cryptocurrency realm. The NASDAQ-listed company, facing regulatory pressures and geopolitical uncertainties, saw its trading volume dip to $26.8 billion in April 2023, the lowest in 16 months. With a 24-hour trading volume of $464 million and BTC/USD recording $201 million, Coinbase holds a strong second place globally.
In response to challenges, Coinbase diversifies revenue streams, introducing non-trading sources and expanding tradable assets. While trading activities may not see an immediate resurgence, Coinbase aims to be the primary interface for users in the crypto ecosystem, beyond a mere exchange platform.
Coinbase Trading Fees
Coinbase's trading fees, criticized for being relatively high, vary based on factors like payment method, purchase volume, and market conditions. Coinbase Advanced utilizes a maker-taker fee structure, with fees up to 0.6% per trade for Advanced Trade users. Discounts are available for high-volume traders. The fee system mirrors the one used on Coinbase Pro.
The structure distinguishes between maker orders, contributing liquidity, and taker orders. The actual fee amount depends on the pricing tier at the time of placing the order. A detailed breakdown of Advanced Trade fees is available on the Coinbase help page.
Coinbase Security Policy
Renowned for its security measures, Coinbase stores the majority of customer funds in cold wallets, offline and resistant to online hacking attempts. Backup drives and paper wallets are securely stored globally. U.S.-based customers enjoy FDIC Insurance for cash balances, covering up to $250,000. However, this insurance does not extend to cryptocurrency holdings, emphasizing the need for user precautions. Security measures include two-factor authentication, biometric logins, and data encryption.
Coinbase Know Your Customer Policy
Coinbase enforces a Know Your Customer (KYC) policy, requiring new users to submit identifying documents for identity verification. Successful verification grants full access to Coinbase's offerings, ensuring compliance and a secure trading environment.
Using Bitsgap Bots on Coinbase Advanced
Automate your cryptocurrency portfolio management with Bitsgap, an automated trading platform compatible with over 17 major exchanges, including Coinbase Advanced Trade. Connecting your Coinbase Advanced Trade account with Bitsgap is seamless through API keys. Explore the power of Bitsgap's trading bots, including GRID, BTD, and DCA, with a one-week trial on the PRO plan upon subscription.
The dynamic bots, boasting over 500K global users, revolutionize your trading experience, offering both security and effectiveness. Extend the trial to real and demo modes after the initial period, and tap into the convenience of automated trading.
In conclusion, Coinbase Advanced Trade emerges as a feature-rich platform, combining professional-grade trading tools with the user-friendly Coinbase interface. Whether you're a novice exploring crypto or a seasoned trader seeking advanced features, Coinbase Advanced Trade offers a comprehensive solution for all.