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General Information
| Coinbase Pro | Poloniex | |
| Year of foundation | 2014 | 2014 |
| Country | USA | USA |
| Languages | English, Portuguese, German, French, Spanish, Italian, Dutch | English |
| Mobile app | iOS | iOS, Android |
Registration and Verification
Coinbase Pro
If you are already registered with Coinbase, you can use this user to link accounts and access Coinbase Pro. If not, the registration page will ask you to enter your username, email address and cryptocurrency in at least eight characters. Depending on your region, you may be asked for other personal information such as (name, address, date of birth, etc.). Finally, verification will be required through identification documents, passports, or driver’s license. Once you have completed this step, you can work on the platform.
Poloniex
An account in Poloniex is quite simple and can be done in less than 5 minutes. The user provides the necessary information and needs to click on the confirmation email to complete an account’s creation. The verification process is similar to the verification in other exchanges and has two levels. Once completed, this level of verification allows for a daily withdrawal limit of $25,000.
User Interface
Coinbase Pro
When creating Coinbase Pro, the team focused on creating a trading platform focused on crypto traders. They succeeded in doing that. The developers tried to make an unbeatable interface. They have thought of every detail. Therefore, trading on Coinbase Pro brings positive emotions.
Poloniex
Poloniex has a simple interface that conveniently places all relevant charts and graphs on one page. Historical price, order books, market depth, and trading history are all in one column organized for easy analysis. You can also trade on margin and lend currencies to shorters at Poloniex. These are advanced trading strategies that only experienced traders should try.
Trading Volumes and Traded Pairs
Coinbase Pro
Leveraged margin trading is available on Coinbase Pro. Experienced traders have a wide range of orders at their disposal. As for cryptocurrency, not everything is so attractive – you can choose only from three assets:
- Bitcoin;
- Litecoin;
- Ethereum.
The exchange offers a solid arsenal of tools for market analysis.
Poloniex
As a pure cryptomoney exchange, Poloniex supports Bitcoin, Ethereum, Monero and Tether pairings with:
- Bitcoin
- Bitcoin Cash
- Dash
- Ethereum
- Ethereum Classic
- Golem
- Lisk
- Litecoin
- Monero
- Omisego
- Ripple +57 more coins
Commission
Coinbase Pro
When you place an order at the market price that immediately executes, you are considered a taker and pay a commission of 0.10% to 0.30%. When you create an order that does not run directly, that order is placed in the order book; if another client places an order that matches yours, you are considered a maker, and your commission will be 0%. When you place an order that will be partially executed immediately, you pay that portion of the commission. The rest of the order is placed in the order book, and the commission is 0% for that part of the order.
Poloniex
Poloniex rates range from 0. 00% to 0. 15% for manufacturers and from 0. 05% to 0. 25% for consumers. However, to receive a lower rate, you will need to have more than 600 BTC operations in a month.
Security
Coinbase Pro
Coinbase Pro provides users with excellent security. Funds deposited on the platform are protected by SSL cryptocurrency, 98% cold storage, or data redundancy. Also, if the venue is hacked, the sum insured per user is $250,000.
Poloniex
Poloniex does not detail its security practices but states that the vast majority of customer tanks are stored off-line in airless cold storage. They only keep enough funds online to provide the liquidity needed for active trading. Trading is monitored 24/7/365 for suspicious activity, and all accounts use 2-factor authentication.
Pros and Cons
Coinbase Pro
Poloniex
I have been studying cryptocurrency for over 5 years. I have accounts in every exchange and I test everything on myself.
I want this market to be more understandable for everyone.