Coinbase simplifies the process of placing a Market Order to the extent that it doesn\u2019t even really give you any other option. You have a Buy button, which takes you to a window to execute a Market Order – though this isn’t how Coinbase describe the process as that specifically remove any trading terminology to simplify things. <\/p>\n\n\n\n
You also have the option to make the trade a recurring – weekly, monthly – which is ideal for Cost Averaging (as discussed previously) and illustrates the kind of user Coinbase is targeted at.<\/p>\n\n\n\n
There is no trading interface. Coinbase trades are actually processed via Coinbase Pro which, as it names illustrates, is for experienced traders. <\/p>\n\n\n\n
In essence Coinbase is an entry level exchange where \nbeginners can buy crypto with minimal fuss, powered \nbehind-the-scenes by Coinbase Pro a platform for \nexperienced crypto trader.<\/code><\/pre>\n\n\n\n
By opening a Coinbase account you automatically have access to the Pro platform, but should only migrate to that when you fully understand the trading process.<\/p>\n\n\n\n
Here is what a simply Buy (Market Order) looks like at Coinbase:<\/p>\n\n\n\n<\/figure>\n\n\n\n
As mentioned above, Coinbase is simplifying the trading process, which helps beginners, but at the expense of any kind of sophistication and high fees.
You do see a confirmation of Price before you commit to the trade and can also retrospectively access the information through your account, to build a trading P&L (Profit & Loss Report).<\/p>\n\n\n\n
Binance offers a no-fuss similar approach, which they call Convert<\/strong><\/em>. This refers to converting your Fiat into Crypto, which we are trying to do here, as well converting one Crypto to another, which is getting a few steps ahead.<\/p>\n\n\n\n
Once you have logged-in to your Binance account, click on the Trade item in the main menu, you\u2019ll then see Convert, accurately described as the easiest trading option.<\/p>\n\n\n\n
Here is what the Convert interface looks like at Binance. Remember, this is simplifying a Market Order.<\/p>\n","protected":false},"excerpt":{"rendered":"
Coinbase simplifies the process of placing a Market Order to the extent that it doesn\u2019t even really give you any other option. You have a Buy button, which takes you to a window to execute a Market Order – though this isn’t how Coinbase describe the process as that specifically remove any trading terminology to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[423],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/8663"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=8663"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/8663\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=8663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=8663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=8663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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