Coinbase Market Order

Coinbase simplifies the process of placing a Market Order to the extent that it doesn’t 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. 

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.

There is no trading interface. Coinbase trades are actually processed via Coinbase Pro which, as it names illustrates, is for experienced traders. 

In essence Coinbase is an entry level exchange where 
beginners can buy crypto with minimal fuss, powered 
behind-the-scenes by Coinbase Pro a platform for 
experienced crypto trader.

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.

Here is what a simply Buy (Market Order) looks like at Coinbase:

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).

Binance offers a no-fuss similar approach, which they call Convert. 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.

Once you have logged-in to your Binance account, click on the Trade item in the main menu, you’ll then see Convert, accurately described as the easiest trading option.

Here is what the Convert interface looks like at Binance. Remember, this is simplifying a Market Order.