Dogecoin (DOGE) Price Soaring After Coinbase Pro News
On Tuesday, June 1st, Coinbase announced on their blog that users will be able to transfer DOGE into their Coinbase Pro accounts. Additionally, DOGE trading will be open for their Pro users on Thursday, June 3rd.
Starting today, inbound transfers for DOGE are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT on Thursday June 3, if liquidity conditions are met. https://t.co/sFYODy4Xma
— Coinbase Pro (@CoinbasePro) June 1, 2021
The news immediately triggered a rise in Dogecoin price. Like most cryptocurrency investors, Dogecoin owners want full access and control over their coins. Coinbase Pro will soon join Gemini and eToro as crypto exchanges with full wallet access.
Established in 2021, Coinbase Pro is a cryptocurrency exchange platform that is extremely user-friendly and has full wallet capabilities (via Coinbase Wallet), which allows users to move their cryptocurrencies in and out of their exchange.
“Coinbase Wallet is a separate app that allows you to store your private keys and to send, receive, and spend digital money.” — coinbase.com
At the time of writing, Coinbase Pro has a 24-hour trading volume of 2.33 billion dollars.
A Word of Caution for Coinbase Users
The crypto exchange platform Coinbase Pro is separate from Coinbase. The main differences being order limitations (Pro has more options), fee structure (Pro is cheaper), and app design.
In regards to Dogecoin and these platforms, Dogecoin s currently not available to store or trade for Coinbase users, which is the more beginner-friendly trading platform.
“DOGE is not yet available on Coinbase.com or via our Consumer mobile apps.”
— The Coinbase Blog
The Coinbase article also stated that there will be a separate announcement if and when Dogecoin support will be added for Coinbase users.
So, if you’re a DOGE investor who wants to get in on this action, remember to use Coinbase Pro and NOT Coinbase.
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