Tag Archives: Coinbase Pro

Is Coinbase easiest for crypto currency funding with new exchange Coinbase Pro API

Is Coinbase easiest for crypto currency funding with new exchange Coinbase Pro API

Screw Coinbase. I think the requirement to fund Coinbase with photo ID is something I am not comfortable.

https://support.coinbase.com/customer/en/portal/articles/2106149-payment-methods-for-canadian-customers-

As a result, I am going the anonymous route using LocalCoin. It seems a little safer without the need to sending out unnecessary documents to an exchange like Coinbase.

How To Buy Bitcoin

It is little more expensive to go anonymously but for now, I  feel more comfortable with this route.

I have an iPhone which means the future of crypto currency exchanges will be measured on their native mobile app support on something like Apple IOS. It seems at the time of this writing, there are only 2 exchanges worthy of noting who are on this. This includes both Coinbase and Huobi in Asia. Since Coinbase is trustworthy since they are regulated out of USA, they might be the ones to watch for newbies wanting to fund an account safely. It will get interesting to see the future how the new exchange Coinbase Pro will do as it appears to be renamed from the old GDAX. As a result, I may focus on Coinbase for small funding of an account. I also want to test their functionality for both orders and data. As you know, I have focused both on Binance and Bitmex but it makes sense to use a more trustworthy exchange like Coinbase. This is especially true when you are starting out with live money. Always remember to fund an exchange with a tiny amount you can risk to lose. For me, it will be tiny amounts like $20 Canadian. As it stands, I just want to focus only connectivity testing and basic low risk automated strategy that I have built over the last few months. This Coinbase Pro might not be the smartest choice for now, but it should be the simplest to test with live money,

As for the support with the CCXT Python package, I have found some sources that seem to make life easier when switching over to Coinbase Pro. It is confirmed to work with old GDAX as hinted in these links:

New Exchange: Coinbase #466

https://github.com/ccxt/ccxt/issues/466

New Exchange: Coinbase Pro #3210

https://github.com/ccxt/ccxt/issues/3210

https://github.com/ccxt/ccxt/pull/3214

GDAX Migration to Coinbase Pro 

https://github.com/ccxt/ccxt/issues/3216

The volume for Coinbase Pro is tiny as compared to larger exchanges like Binance. It seems this will raise a concern for volume, slippage. Liquidity and so on. This is why you need to fund with a tiny amount you are willing to lose on.

https://coinmarketcap.com/exchanges/volume/24-hour/

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