Table of Contents
- Coinbase’s GDAX- Introduction
- Coinbase’s GDAX Review
- How can you pay at Coinbase’s GDAX? Currency Support
- In which Countries Coinbase’s GDAX has offices? Geographical locations
- Coinebase’s GDAX Fees?
- User Security at Coinbase’s GDAX?
- How responsive is the Customer Support of the Coinbase’s GDAX?
- Public Opinions/ Online Reviews about Coinbase’s GDAX
- Our Concluding Remarks – Is Coinbase’s GDAX a good Exchange?
- How to trade at Coinbase’s GDAX? Complete Trading Guide
- How to Open an Account at Coinbase’s GDAX?
- Frequently asked questions about Coinbase’s GDAX
Coinbase’s GDAX- Introduction
Today we will talk about Coinbase’s GDAX. In this article, we will analyze about how a user can open an account on the Coinbase’s GDAX, trade via GDAX, its merits demerits, public opinion, security, fees, etc. and in the end, we will answer to the frequently asked questions from the user’s point of view. Coinbase’s GDAX is a cryptocurrency exchange that deals with both fiat currency and cryptocurrency. It trades USD for Etherueum, Bitcoin, and Litecoin. A Coinbase’s GDAX allows some cryptocurrency pairs trading via Coinbase’s platform. GDAX also permits the user to trade Euros and USD for Bitcoin, Litecoin, and Ethereum. People can also useThe British ponds for bitcoin trading, and the user can also use Bitcoin for Litecoin and Ether and Litecoin and ether for the trading of Bitcoin. But one important thing is not all trade types are used. Like if the user wants to trade with Litecoin for Ether he cannot do it directly. He has first to change Litecoin to Bitcoin then trade it with ether. So, the choice of coin pair for trading is limited in GDAX, but still, GDAX is a smart platform to initiate with the cryptocurrency business for anyone. GDAX is almost operating in every state of the USA. It is one of the platforms of Coinbase, and it offers low fees for the trading of cryptocurrencies as compared to the other exchanges of the market. Its feature that attracts people towards GDAX exchange is that USD can be converted into cryptocurrencies and then back into the fiat currency easily. If the user is comfortable with the usage of Coinbase exchange platform then for him the next reasonable step is to move towards the GDAX due to its lower fees. After having full knowledge of the GDAX user can step forward to other related altcoin exchanges.
Related reading, see: 10 Best Bitcoin and Cryptocurrency Exchanges
Coinbase’s GDAX Review
Global Digital Asset Exchange abbreviated as GDAX, is one of the famous exchange for cryptocurrency and fiat currency trading in the world. This platform is the best choice for the professional and expert users of cryptocurrencies. It is building its reputation in the market of cryptocurrency as the industry of cryptocurrencies is growing. As more and more traders are coming in the business of cryptocurrencies so, it is important to understand the difference in the available platforms. It is an advanced platform for serious traders. The Coinbase itself considered as leader exchange in the industry of cryptocurrency when it comes to the trading of Bitcoins. So, if you have an account on the Coinbase than GDAX is a good step to explore the cryptocurrency industry further. The company suffered from the problem in the past, but they had overcome all the problems. The security at GDAX is very good. It offers Coinbase bug bounty program to check for any suspicious activity on the GDAX all the time. Its two-step verification of the account enhanced the security of the user account, and they put 98% of the user’s funds in the cold storage offline to protect them from the hack.
How can you pay at Coinbase’s GDAX? Currency Support
GDAX exchange provides a collection of major fiat and cryptocurrencies. Ethereum, Bitcoin, Litecoin all are available for trading in the market. A user can deposit and work with any of the currencies mentioned above along with euros, US dollars, and British pounds. A user can trade all the fiat currencies with Bitcoin easily whereas Ethereum and Litecoin trade is only possible with euros, dollars, and Bitcoins this action could be little annoying for the users from British but mostly European crypto exchanges works in euros instead of British currency. The trading of Litecoin and Ethereum with fiat currencies is attracting several people towards GDAX exchange. So, trading with GDAX provides a user with a good range of currency support.
Related reading, see: 3 Methods to Buy Bitcoin With PayPal Instantly
In which Countries Coinbase’s GDAX has offices? Geographical locations
This exchange is operating in almost every state of USA. It is also operational in Europe, Singapore, Australia, England and Canada. GDAX is a famous trading exchange around the globe which provides classical currency support. Particularly its feature of currency support make this exchange appealing for the users of United Kingdom, USA, and Europe. There is no physical address stated on the official website of the GDAX exchange but it is the part of every state of USA, and other offices are in Australia, Singapore, and Canada, etc.
Coinebase’s GDAX Fees?
A user will pay 0.25% taker fee for all bitcoin trades and 0.30% taker fee for all the ETC and LTC trades during a day. A refund amount is calculated and delivered to the user back at the end of the day. The refund amount calculated on the percentage of exchange volume, and product in which trader has participated in last thirty days. Moreover, fees of any trade depend on the size of the trade. If a user will increase the volume of the trade on GDAX the fees for maker and taker will reduce. If a user makes an order at a market price that gets filled instantly, then he will be considered as a taker, and he will pay a fees ranges from 0.10% to 0.25% for Bitcoins and 0.1% to 0.3% for ETH trades. If you place an order that does not instantly matches with the existing orders, it will be on the order book, and if another user will place an order and it matches with your order then you are now a maker, and in this case, you have to pay 0% fees.
Related reading, see: 6 Ways to Buy Bitcoin Without Verification or ID Anonymously
User Security at Coinbase’s GDAX?
The security of the customer’s wallets and the account is the priority of the Coinbase GDAX exchange. Their experts are working and monitoring the accounts 24 hours a day to secure it from any new threat. Their tagline for security is “Security for your peace of mind” by this they mean they will take all the related precautions to secure user’s account and currency as much it is possible for them. It secures the transactions of the customers by allowing only 2% of the amount online, and all other 98% of customer funds are stored in the offline storage to avoid any hack. It is compulsory for all the accounts to undergo two steps verification that includes name, password and the code sent to your phone to make users account more secure at GDAX exchange. Their Coinbase Bug Bounty program handled by the community of security experts to keep the accounts of all users of GDAX safe.
Related reading, see: 30 Fastest Growing Cryptocurrencies to Invest (Promising Altcoins)
How responsive is the Customer Support of the Coinbase’s GDAX?
Cryptocurrency exchanges Customer’s support variate from exchange to exchange. Few exchanges respond to customer quires immediately; few are slow. The customer support of GDAX well developed it contains all the information related to exchange. But if the user has an issue that is not the part of the guide in their help desk then the user can email his query to the email address of the GDAX exchange. It is the request of the customer’s support team to write about your issue in detail so; it will help us to understand your problem and resolve it for you in a better way. The exchange responds to the user email I 24 to 72 hours normally.
Public Opinions/ Online Reviews about Coinbase’s GDAX
GDAX is one of the best exchange, and it is appealing among the people for its feature of trading between ETH and LTC with fiat currencies. It is a beneficial pair of trading particularly for the people of the USA and Europe. So, experts of cryptocurrency trade feel relaxed using Coinbase GDAX. But people do not trust on cryptocurrency industry so, there are bad as well as good reviews for the GDAX exchange, but majorly people are satisfied with the trading strategies and safety measures of GDAX and particularly with the low fees of the Coinbase’s GDAX.
Related reading, see: 6 Simple Ways to Buy Ethereum Instantly
Our Concluding Remarks – Is Coinbase’s GDAX a good Exchange?
GDAX is a nice option for trading Bitcoins particularly for advanced and professional traders specifically in Europe and in the US. It is like an ideal package for those traders having major cryptocurrency asset and wants to trade with low fees. The company supports British pounds in addition to EUR and USD for trading in UK market. The pathway GDAX creates for the user is quite impressive to move from first investment to become expert in trading. A user is advised to work on Coinbase exchange before stepping on the GDAX exchange for trading. It is a good platform especially for the people having Coinbase account. To make things simple GDAX is an advanced cryptocurrency platform best for the professionals.
Related reading, see: How to buy Ripple (XRP) – A Beginner’s guide
How to trade at Coinbase’s GDAX? Complete Trading Guide
The GDAX exchange has deposit and withdrawal button. The user can use these buttons for the transferring of the funds from fiat currency to cryptocurrency and vice versa between Coinbase and GDAX. A user can use the funds for deposit from his Coinbase account, directly from the bank linked with the Coinbase and also by the wire transfer method from any bank to the exchange. It has an order book. The red entries are the selling orders or the green ones on the list are the buying orders for an account in the Coinbase’s GDAX. There is an entry for the USD spread that is in the middle of the list, and it shows the difference between the lowest sell order and the highest buy order. If the traded capacity is high like more people are buying and selling the currencies then this spread is minimum and vice versa. So, this also helps the user to decide that the exchange is good or not. It is obvious that if more people are using the exchange, then the USD spread is low, and he can decide USD is low more people trust the exchange so, he can also trust. In general, the Coinbase’s GDAX is a good platform used by the crypto traders because USD spread for GDAX remains minimum for most of the times.
Related reading, see: The 5 Most Important Altcoins Other Than Bitcoin
How to Open an Account at Coinbase’s GDAX?
To get started with the Coinbase’s GDAX user needs to open an account on the Coinbase’s GDAX. To open an account on the Coinbase’s GDAX user needs to follow four basic steps.
- He has to go to the home page of the GDAX. The address of that website is gdax.com. By putting this address on the internet a window will be displayed it contains various options including API, fees, Help, Sign in, create account and more.
To open an account on the Coinbase’s GDAX a user needs to click on the button “create an account.”
- By clicking on the button create account user will go to the next screen where he has to provide some of the asked information. It contains the fields of the First name, last name, email address and the password. The password must be more than eight letters. Make sure you make your password strong enough so that no one can hack your account and currency wallet easily
. . By checking the box that contains the information that you agree with the terms and the conditions of the Coinbase’s GDAX and you are above 18 years old and by clicking on the create account button, the user will go to the next page where the Coinbase is processing to verify the email.
If a user does not find the email, at his provided email address he can click on the button email not arrived as shown in the above figure.
- Verification required after creating an account on the Coinbase’s GDAX. For the verification of the email, the user needs to go to the email account and check for the email sent by the Coinbase to his inbox. Open the email sent by Coinbase and follow the link given for the activation of the account.
By clicking on “verify email” a window will prompt up and contains a message. That shows the process to open an account on the Coinbase’s GDAX has completed, and it also shows a message related to trade when a user accepts the rules linked with trading by clicking on the “I Accept” button given at the bottom of the page. It will go to the next page where the user has to provide the country name and phone number, to begin with, the GDAX account. Linking new account with a mobile phone is recommended to improve the security of account on the Coinbase’s GDAX.
- When a user provides mobile number exchange will send a seven-digit code for the verification of number by putting that code in the given place, it will take the user to the next user interface where he will be asked to provide his details. By providing the details a user now can start with the GDAX for selling and buying of the digital assets. That page will look like:
Frequently asked questions about Coinbase’s GDAX
Can you pay via credit card, debit card, bank account, PayPal, and Cash?
A user can fund his account by credit card, debit card, bank account and by putting cash into his account on Coinbase. But the only thing he has to pay the fees linked to the methods of payment.
How much time does it take to withdraw the funds?
Transfer of withdrawal and withdrawal of funds from the Coinbase to GDAX is instant. Deposits to GDAX is unlimited while the withdrawal of funds had a limit set by the exchange withdrawal limit started from 10,000 dollars per day. But if you will place order and request withdrawal of USD from US bank account, the money usually reaches in 4 to 6 business days and the time and day will show on the confirmation page of the trade.
How to contact the customer support in case of an issue?
The answer to this question is given above in this article for detailed information read above given paragraph about customer support. But in case of any issue, he can search for customer support options of the GDAX exchange and if his query is not in the available guide than he can email GDAX about his issue.
How many countries does the Coinbase’s GDAX support worldwide?
This exchange is operating in almost every state of USA. It is also operational in Europe, Singapore, Australia, England and Canada.
User privacy at Coinbase’s GDAX