Coinbase Pro Trading Exchange Officially Open For Use, Critics Chime In
Coinbase, one of the most important and popular cryptocurrency-related platforms in the world, has decided to shut down its exchange GDAX and open a new one called Coinbase Pro. Unfortunately for the Los Angeles-based company, the new service has received a few critics in just the few days they have been open for trading and use from crypto enthusiasts and experts.
Critics Chime in on New Coinbase Pro Platform
Coinbase has been involved in a tide of critics. Users started to mark some failures in the platform and the customer service that the company was providing. But currently, the company is trying to open a new office in Portland Oregon.
According to an official announcement from the company, the new location will allow it to have a better customer support team, and new people related to finance, compliance, IT, and HR. This information has been revealed just some weeks after the exchange opened a new office in Japan so as to accelerate global adoption of virtual currencies.
Thanks for all the customer feedback over the last 2 weeks. A number of improvements are now live on Coinbase Pro pic.twitter.com/xtkNfHBdAq
— Coinbase Pro (@CoinbasePro) June 29, 2018
David Farmer, General Manager of Coinbase Pro, announced the transition from GDAX to this new platform on June the 18th. He explained that since Friday June 29, GDAX would not be available anymore, instead, Coinbase Pro would be available.
The press release reads as follows:
“Coinbase Pro is a new interface built on top of the existing GDAX trading engine that has been designed with the needs of he active trader in mind. No action is necessary from you right now, but please not that after June 29, you will not be able to access gdax.com.”
It seems that the main intention behind Coinbase Pro is to offer better trading services for those individuals that spend long hours day trading or performing similar activities.
Mr. Farmer said that GDAX’s API would be functioning until December the 31st, but he recommended to migrate their API usage away from GDAX.
Since a very long time, the company has been trying to spread the word about Coinbase Pro in replacement of GDAX. But to be honest, the platform looks very similar to GDAX, with similar colours and interface, so those nostalgic users will still feel that they are using the older platform.
The migration between GDAX and Coinbase Pro has been processed automatically and it has enhanced the trading experience for the users. For example, the company says that it has a simplified deposit and withdraw process, better charts for users that want to find historical data or older prices, and a new portfolio interface that allows customers to see and overview their account orders and balances.
But even when the platform may seem slightly better, some users started to criticize it very hard. For example, a Twitter user said that the platform is barely usable on the iPad, and that Coinbase Pro is ‘not a step for the better.’
The /r/coinbase Reddit community did not show a lot of support to the platform. Indeed, some users started to call for a boycott to Coinbase Pro.
Us: We want better performance during high traffic!
— Jill Carlson (@jillruthcarlson) June 30, 2018
Well Coinbase Pro does seem more complicated and harder to use than GDAX. I guess that's some kind of accomplishment.
— Mad Bitcoins (@MadBitcoins) June 30, 2018
It is clear that new products mean that users need to get used to a whole new experience, interface and system, which may be totally inconvenient for several individuals. Since the platform is brand new, the team behind it is working trying to smooth things out and which things need to be modified or enhanced.
Coinbase will be taking into account all the critics and try to improve the weak points of Coinbase Pro.