Coinbase Shuts Down GDAX and Launches Coinbase PRO For Cryptocurrency Exchange Trading Platform
The popular cryptocurrency exchange and platform, Coinbase, announced that it will be shutting down its trading platform known as GDAX so as to launch the new Coinbase Pro. The main intention is to make the trading platform more intuitive, user-friendly, and easier to use.
The information has been released by Brian Armstrong, co-founder and CEO at Coinbase, in a blog post on May the 23rd. The post says that after building stability and liquidity, the idea is to switch the name to Coinbase Pro and recognise that traders need a product that fulfils their needs.
“Since launching in 2015, GDAX has built liquidity and stability in the space and also helped us understand the needs of active crypto traders. Switching to the name Coinbase PRO is a recognition that the individual active trader requires a product completely dedicated to their specific needs,” reads the statement.
The platform will be including professional trading tools and services for its users, that will be delivered through a ‘completely re-engineered UI’ making the trading experience more user friendly, and straightforward to use.
Those users that already have an account on GDAX will automatically become members of Coinbase Pro.
These are important news for Coinbase users. In the last days, Coinbase has been taken several measures to offer better products and services. The last week, it announced that it launched Coinbase Custody, a platform that has been specifically designed for institutional and wealthy investors.
In addition to it, Coinbase has decided to acquire Paradex, a decentralized virtual currency exchange. With it, users will be able to trade ‘hundreds of tokens directly from their wallets, including ERC20 tokens.
And indeed, this is in line with what Coinbase is doing since the beginning of the year, when it unveiled its plans to support ERC20 tokens on its platform.