How to use Coinbase Pro
What is Coinbase Pro
Coinbase Pro is a cryptocurrency trading platform operated by Coinbase. It is designed for professional traders and institutional investors who need advanced trading features and lower trading fees.
It provides advanced order types, such as limit orders, stop orders, and market orders, as well as real-time market data, charts, and trading indicators.
Coinbase Pro uses a maker-taker fee model, which means that makers (traders who provide liquidity to the order book) receive a rebate while takers (traders who take liquidity from the order book) pay a fee. This fee model encourages liquidity and can result in lower trading costs for traders.
The history of Coinbase Pro
Coinbase Pro was launched in 2015 by Coinbase, a San Francisco-based cryptocurrency exchange founded in 2012 by Brian Armstrong and Fred Ehrsam and was previously known as GDAX.
In May 2018, GDAX was rebranded as Coinbase Pro, and its user interface was redesigned to make it more user-friendly and intuitive. The rebranding coincided with Coinbase’s acquisition of Paradex, a decentralized exchange protocol, which allowed Coinbase to expand its trading offerings and improve its liquidity.
Since its launch, Coinbase Pro has become one of the most popular cryptocurrency exchanges for professional traders and institutional investors, with a user base that spans the globe. The platform has also been at the forefront of industry developments, such as the integration of the Lightning Network and the adoption of Ethereum’s ERC-20 standard.
Today, Coinbase Pro is one of the leading cryptocurrency trading platforms.
How Coinbase Pro works
Coinbase Pro uses a complex algorithm to match buy and sell orders on its platform. The algorithm takes into account various factors, such as order price, order size, available liquidity, and market conditions, to ensure that orders are matched as quickly and efficiently as possible.
When a trader places a buy or sell order on Coinbase Pro, the order is added to the platform’s order book, which contains a list of all buy and sell orders currently open on the platform. The order book is organized by price, with the highest buy orders and lowest sell orders listed at the top of the book.
The algorithm then matches buy and sell orders based on the price and size of the orders. For example, if a buy order is placed at a higher price than the current sell orders, the order will not be filled until a matching sell order is placed at the desired price or the market price increases to the desired level.
Coinbase Pro’s algorithm also takes into account the order type, such as limit orders, stop orders, and market orders. Limit orders allow traders to specify the price they are willing to buy or sell a cryptocurrency, while stop orders are triggered when the price reaches a certain level. Market orders are executed at the best available price on the market.
Overall, Coinbase Pro’s algorithm is designed to provide fast and efficient order matching while ensuring that traders receive the best possible prices and liquidity. The platform’s advanced trading features and low fees make it a popular choice for professional traders and institutional investors.
Does Coinbase Pro charge a fee
Yes, Coinbase Pro charges a fee for trading on its platform.
The current fee structure on Coinbase Pro is as follows:
- 0-0.50% fee for maker trades
- 0.50% fee for taker trades
The fee structure is designed to incentivize traders to add liquidity to the order book, which helps to improve market liquidity and reduce trading costs for all traders on the platform.
It’s worth noting that Coinbase Pro also offers discounted fees for high-volume traders. The discount is applied based on the trader’s trading volume over the previous 30 days, with higher trading volumes resulting in lower fees.
How to use Coinbase Pro
Here is a step-by-step guide:
Step 1: Create an Account
Go to the platform’s website and click on the “Sign Up” button. Fill in the required information, such as your name, email address, and password, and click on “Create Account.”
Step 2: Verify Your Identity
To use Coinbase Pro, you’ll need to verify your identity. Follow the on-screen instructions to provide your personal information, such as your date of birth, address, and government-issued ID.
Step 3: Deposit Funds
Once your account is verified, you can deposit funds into your Coinbase Pro account.
Step 4: Navigate the Platform
Once you have funds in your account, you can start trading on Coinbase Pro.
Step 5: Trade
To place a trade, select the trading pair you want to trade on, such as BTC/USD.
Step 6: Review and Confirm Your Order
Before submitting your order, review the details and make sure everything is correct. Once you’re ready, click on the “Confirm” button to submit your order.
Step 7: Monitor Your Trade
After you’ve placed your trade, you can monitor it on the platform’s trading page. You can see your open orders, order history, and your portfolio balances.
Step 8: Withdraw Your Funds
When you’re ready to withdraw your funds, click on the “Withdraw” button and follow the on-screen instructions to complete the withdrawal process.
Overall, Coinbase Pro is a user-friendly platform that makes it easy to buy and sell cryptocurrencies.
What is AscendEX (BitMax)
AscendEX, formerly known as BitMax, is a cryptocurrency exchange. The exchange was founded in 2018 and is headquartered in Singapore.
In addition to trading features, AscendEX offers several other services including staking, lending and borrowing. The exchange has its own token, called the BTMX token, which is used to pay trading fees and can also be used for various rewards and incentives.
The history of AscendEX
BitMax launched its platform in July 2018 and quickly gained popularity among crypto traders.
In 2019, BitMax launched its own native token called BTMX token. The token is designed to provide BitMax users with many benefits, including reduced transaction fees and access to exclusive bonuses and bonuses.
In 2020, BitMax was renamed AscendEX, reflecting its ambition to become the world’s leading cryptocurrency exchange. The rebranding comes with some new features
and services, including staking, margin trading and perpetual contracts, allowing users to trade cryptocurrencies with leverage.
How AscendEX
When a user places an order to buy or sell a particular cryptocurrency, the AscendEX algorithm looks for a matching order from another user on the exchange.
The exchange’s algorithm considers a number of factors when matching orders, including price, order quantity, and order type. For example, if a user places a limit order to buy Bitcoin at a certain price, the algorithm looks for a matching sell order at or below that price.
Once a matching order is found, the exchange’s algorithm executes the transaction and the corresponding cryptocurrencies are transferred between the two user accounts on the exchange. AscendEX charges a fee for each transaction, which is deducted from the user’s account balance.
In addition to matching buy and sell orders, the AscendEX algorithm performs other tasks such as maintaining order books, monitoring market conditions, and updating prices in real time. The algorithm of the exchange is designed to ensure fast and accurate execution of trades with minimal delays and downtime.
Overall, the AscendEX algorithm is a key component of the exchange, allowing users to quickly and efficiently trade a wide range of digital assets.
Does AscendEX (BitMax) charge a fee
Yes, AscendEX (formerly BitMax) charges transaction fees on its platform. The transaction fee structure on AscendEX varies depending on the user’s order type and trading volume.
The commission rate for orders by creators and receivers on AscendEX ranges from 0.02% to 0.04% depending on the user’s trading volume. The exchange also offers a fee discount for users who hold and use their own BTMX tokens.
In addition to transaction fees, AscendEX charges a withdrawal fee for transferring cryptocurrencies from the exchange. These fees vary depending on the cryptocurrency being withdrawn.
Overall, AscendEX’s fee structure is competitive with other cryptocurrency exchanges and is designed to be transparent and fair to users. The exchange provides details of fees on its website, allowing users to understand the costs associated with trading on the platform.
How to use AscendEX (BitMax)
If you are new to AscendEX (formerly BitMax) and want to start using a cryptocurrency trading platform, follow these steps:
- Create an account: Go to the AscendEX website and click the “Sign Up” button to create an account. Follow the instructions to provide personal information and complete the registration process.
- Verify your account: In order to start trading on AscendEX, you may be required to verify your account by providing additional documents such as government-issued ID or proof of address.
- Deposit: Once your account is verified, you can deposit money into your AscendEX account. The exchange supports multiple cryptocurrencies, so you can choose the one you want to deposit.
- Start trading: With funds in your account, you can start trading cryptocurrencies on AscendEX. The exchange offers a wide variety of trading pairs and order types, so you can choose the ones that suit your trading strategy.
- Withdrawals: If you would like to withdraw your funds from AscendEX, you can do so by clicking the Withdraw button and following the instructions. Withdrawals will incur a fee, so be sure to check the fee table before withdrawing.
In general, using AscendEX to trade cryptocurrencies is quite simple. The exchange offers a user-friendly interface and provides detailed information on its website to help users navigate the platform.
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