Digital currency exchange Coinbase shuttered GDAX on June 29th and transitioned to Coinbase Pro. The new interface is marketed as an upgrade but has received a lot of initial criticism.
Coinbase has been very busy over the last few days. Responding to criticism about failures with their customer service, the exchange said on Thursday how they are planning to open a new office in Portland Oregon.
An official announcement from the company says the new location will be hiring for roles based on “customer support, finance, compliance, IT, and HR.” The news comes a few weeks after the exchange officially opened an office in Japan to help “accelerate the global adoption of cryptocurrency.”
Yesterday, Coinbase officially said goodbye to GDAX and invited people to start using the new Coinbase Pro. A company blog post said gdax.com would not be accessible after June 29th, but part of it still apparently lives on, as the design team has emulated GDAX’s interface in one of Coinbase Pro’s color themes.
Hello Coinbase Pro
Coinbase Pro General Manager David Farmer wrote in a blog post how the new interface was built on top of the GDAX trading engine. After June 29th, all GDAX balances and trading history are now automatically seen on Coinbase Pro.
Farmer said GDAX’s API would be functioning until December 31st, 2018 and encouraged those on Coinbase Pro to migrate their API usage away from GDAX.
Today we say goodbye to GDAX and hello to Coinbase Pro. Coinbase Pro is live and ready to start using now. https://t.co/UKGaehZdp8
— Coinbase Pro (@CoinbasePro) June 29, 2018
Coinbase has been advertising the purported upgrades and advantages of Coinbase Pro over the last couple months. A company blog post from May said the platform is “completely dedicated” to the needs of the cryptocurrency trader.
Along with the automatic migration of transactions and balances, Coinbase Pro features a new design that is intended to make “the trading experience easier and more intuitive.” The company says it also has a simplified deposit and withdraw process, better charts for users trying to find historical data, and a new portfolio “that lets customers easily see an overview of their account orders and balances.”
Coinbase Pro touts a variety of benefits on their homepage, including an “industry-leading API”, FDIC insurance protection for USD balances up to $250,000 per customer, and 0% maker fees.
The company said their vision is to give users the ability to “interact with digital assets in new and unique ways,” including through services like staking and protocol voting.
‘This Does Not Look Good’
Coinbase Pro said in a June 29th tweet how a number of customer feedback suggestions from the previous two weeks were live on the platform. This included layout optimizations, more theme options, and a bigger market selector.
But many of the early reactions to the new Coinbase Pro have been negative, and a growing number of people seem to be taking to the internet to try and problem-solve through issues.
Criticism started to emerge on Coinbase Pro’s official Twitter announcement. One user commented and said the new platform is “not a step for the better” and questioned if the team’s “UI or UX designers quit?”
This does not look good… iPad version is barely usable. iPhone version is meh.. I don’t understand, I know people are normally reluctant to change, but this was not a step for the better. Did your UI or UX designers quit?
— Nuno Dias (@nmdias_pt) June 29, 2018
Another said the platform’s GUI was slowing down their computer, pointing out how their utilization was above 25% “the moment the switch to pro occurred.”
Reddit community /r/coinbase experienced a flurry of activity after launch, and a lot of the commentary was not positive.
One user posting on June 30th called for a “Coinbase Pro boycott” after noting they had not seen a “single positive response to Coinbase Pro.” They said they would consider trying to get used to the new platform since Coinbase offered “relative safety” with holding funds, but said it was otherwise “complete garbage.”
Some users said the ability to zoom and scroll back on charts was a positive, but others mentioned how some features were not really usable on mobile devices. One user asked how they can get the GDAX page layout back and questioned if the new platform was even tested before being rolled out. Another simply said the new design was “two steps backwards.”
Us: We want better performance during high traffic!
Coinbase: pic.twitter.com/NfN1uG0ieD
— Jill Carlson (@_jillruth) June 30, 2018
A couple of people seemed to take things into their own hands and posted ideas and suggestions in response to criticisms about Coinbase Pro.
One user recommended people make their own dashboard with the API in order to customize the platform to avoid issues. Another posted a “fix” for Coinbase Pro’s apparent lagging for high volume traders, which included minimizing browser width to “make the site usable again.”
Since Coinbase Pro is so new, team members are assuredly working on smoothing out any issues and figuring out what needs to be changed. But only time will tell about how many the initial complaints and criticisms will be addressed in future updates.
What are your thoughts on the new Coinbase Pro? Let us know in the comments below!
Images courtesy of Shutterstock, Twitter