Our Review
Coinbase Pro has 65+ coins, 0.40% maker, 0.60% taker fees, and is one of the most secure, insurance-backed platforms in the crypto industry. However, it doesn't support Canadian dollars and we think platforms like Binance and KuCoin are better overall because they have lower costs (hidden fees included) and hundreds of more altcoins.
Where It Shines:
Where It Falls Short:
Overview
Total Fees & Spreads: Mar 02, 2022
Coins Offered | 65+ |
Total BTC Purchase Fee | N/A (Can't buy with CAD) |
Total BTC Selling Fee | N/A (Can't sell with CAD) |
BTC Spread | 0.05% (Tied for 4th place) |
Regular Trading Fee | 0.40% Maker Fee 0.60% Taker Fee |
Funding Methods | Crypto Only |
CAD Deposits | Not Supported |
CAD Withdrawals | Not Supported |
BTC Withdrawal Fee | Dynamic (Mining Fees) |
Notable Features | Advanced trading, Create up to 5 portfolios |
About Coinbase Pro
Coinbase Pro lets you trade digital assets for lower spreads and with more advanced features than on Coinbase.com.
The Pro platform offers it's own web app and mobile app but still uses the same login as Coinbase.com for easy access.
Coinbase was founded in 2012 and has over 100+ million registered users around the world. It is considered one of the largest and safest cryptocurrency exchanges in the world. It's also a publicly traded company on the NASDAQ.
Fees & Spread
Coinbase Pro had a BTC spread of 0.05% which was tied for 4th place out of 18 platforms tested. Since you cannot fund or withdraw CAD, we did not calculate the total BTC purchase fee or selling fee. However, if you were to fund your account using Coinbase.com, it would be very expensive since Coinbase.com was the most expensive platform for Canadians.
If you want low spreads, trading fees, advanced trading, and hundreds of altcoins Binance and KuCoin (for Ontario) are the best altcoin exchanges for Canadians. You will get the lowest fees on those platforms when funding your account with crypto.
We tested 18 Canadian cryptocurrency exchanges at the same time to compare the true fees. This data was collected on Mar 2, 2022 at 4:41pm and is subject to change since spreads and prices change daily.
- Total BTC Purchase Fee = CAD Deposit Fee + Trading Fee + Reference Price Difference
- Total BTC Selling Fee = CAD Withdrawal Fee + Trading Fee + Reference Price Difference
You can compare all platforms from the price test on this page.
Coinbase Pro Fees | Amount |
|---|---|
*Total BTC Purchase Fee | N/A (Can't buy with CAD) |
*Total BTC Selling Fee | N/A (Can't sell with CAD) |
Trading Fee | 0.40% Maker Fee 0.60% Taker Fee |
CAD Deposits | Not Supported |
CAD Withdrawals | Not Supported |
BTC Withdrawals | Dynamic (Mining Fees) |
Other Fees | N/A |
Dynamic Trading Fees
Price Test & Spread
Price Test (On Mar 2, 2022) | Prices |
|---|---|
BTC Spread | 0.05% (Tied for 4th place) |
BTC Buy Price | $55,629 |
BTC Sell Price | $55,598 |
Ref. Price Difference | Buy: -0.26% Sell: -0.32% |
Reference Price (Google) | $55,774 |
Deposit & Withdrawals
CAD Dollars
Coinbase Pro does not support funding or withdrawing Canadian dollars in your account. To fund your Coinbase Pro account, you can either transfer funds from your Coinbase.com account or deposit crypto from an external wallet. Transferring between Coinbase and Coinbase Pro is instant and free (no crypto network fees).
If funding from an external wallet, we recommend buying crypto on Newton or VirgoCX because they are the cheapest in Canada and offer free crypto withdrawals for many coins.
Crypto Withdrawal Fees
Type | Fee | Minimum Withdrawal |
|---|---|---|
Bitcoin | Dynamic (Mining Fees) | None |
Ethereum | Dynamic | None |
USDC | Dynamic | None |
XLM | Dynamic | None |
Platform & Features
1. iOS, Android and Web App
2. Trading Interface
- Market / Limit / Stop Orders
- Lots of trading pairs in USDC, BTC, USDT, BTC, ETH and more
- Real-time order books
- Charting tools
- Trade history
- Dynamic fee structure
- Create up to 5 different portfolios to organize your trades
- USD / EUR / GBP trading pairs are view-only for Canadians
3. Other
- API Keys
- Instant + Free transfers to and from Coinbase.com
- See all Features in our Coinbase.com Review
Security
Company Security Features
- 98% of assets are held in cold storage
- $255 million insurance policy on the 2% of crypto held in online hot wallets
- Sensitive data is stored on paper backups and USB drives in vaults and multiple locations
- Coinbase claims all personal information is encrypted
- Employees must pass a criminal background check
- Bug bounty program - white-hat hackers get paid to find security bugs and vulnerabilities
- See their security page for more
User Security Features
- 2FA
- Address Whitelisting
- View website status in real-time
Can You Trust Them?
Yes, Coinbase is one of the safest cryptocurrency exchanges. They have many security features like 2FA, crypto in cold storage, a $255M insurance policy, and more. They're also a publicly traded company on the NASDAQ which means regular audits, public financials and an added layer of safety.
⚠️ Although this platform is safe, 44% of platforms we tested have had a hack or incident in the past. We strongly recommend storing and protecting your crypto on a hardware wallet or any wallet where you own the private keys.
Customer Support
Coinbase Pro has its own help desk section with articles and FAQs. Everything is done through the Coinbase.com site. You have a live chat that says "an agent should reply within 10 minutes" during business hours and phone support. You can also see a live website status in real-time.
Here are the best crypto exchanges for Canadians right now. We assessed 18 platforms across 60 variables and 1080+ data points.
