- API Connectivity
- Funds are stored in cold storage
- Margin Trading
|Headquarters||San Francisco, CA, USA|
|Support Types||Email , Live Chat|
|Trading Platform||GDAX | Coinbase Pro|
|Minimum 1st Deposit||No Minimum|
|Minimum Account Size||No Minimum|
|Minimum Trade Amount||No Minimum|
|Maximum Trade Amount||No Maximum|
|Free Demo Account|
|Account Types||Real Money|
|Deposit Methods||Debit/Credit Card, Bank Transfer, Paypal|
|Withdrawal Methods||Debit/Credit Card, Bank Transfer, Paypal|
|Trading Currency||BTC , ETH , LTC , BCH|
|Account Currency||USD , EUR , GBP|
|US Traders Allowed|
- Deposits in USD are protected by FDIC
- Largest Crypto Exchange
- Backed by Largest Institutional Investors
- Advanced Trading Platform
- A limited number of Altcoins
GDAX Review – About the Company
GDAX, or Global Digital Asset Exchange, is one of the largest and most popular cryptocurrency exchanges. GDAX was established in 2012 and is owned by the same company that owns another largest cryptocurrency exchange – Coinbase, While Coinbase is considered to be a go-to place for beginner investors, GDAX is more favoured by experienced traders and investors for its low trading fees and advanced features of its trading platform. In this GDAX review, we will cover account opening and verification process, available currency pairs, trading fees and limits, main features of GDAX trading platform and pros and cons of investing in Ethereum on GDAX Exchange.
GDAX Review – Advanced Cryptocurrency Trading Platform
Coinbase is the world largest cryptocurrency exchanges by volume and one of the most popular trading venues for investing in Ethereum, Bitcoin and Litecoin. While Coinbase mobile app and web-based platform make it very easy to invest in crypto it comes with one major disadvantage – high trading fees which go up to 4-5%. While this is ok for someone who only wants to invest in Bitcoin and hold it for a while if you are active trader such high trading cost could eat much of your profits. While Coinbase is considered to ideal for retail crypto investors, GDAX is targeting professional crypto investors and traders as well as institutional clients.
GDAX offers market in 3 major and most popular cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
It also offers an opportunity to trade in major fiat currencies such as USD, GBP and EUR.
GDAX Trading Platform comes with an intuitive interface, advanced charting tools and order history. This GDAX review won’t be complete without mentioning other features such as:
- FDIC Insured. Customer funds in USD are insured by FDIC. That means that balances up to $250,000 are protected by the US regulator.
- Real-time market data and most up-to-date crypto prices.
- Secure Storage. 98% of the clients’ funds are kept in cold storage for extra security.
- API Connectivity. For algorithmic trading, GDAX offers connectivity via API which used by traders for programming trading bots. This is one of the main reasons why many institutional and professional investors prefer GDAX to other trading venues.
- IT Security Checks and Regular Audits. GDAX places an enormous amount of value on keeping their platforms safe and secure place.
In addition to such trading features, GDAX also allows investors to trade cryptocurrencies using a variety of strategies such as:
- Market Buy. Pretty standard feature as on most of the other exchanges which allows you to pay lower fees.
- Limit Buys. This feature allows traders to set a price limit for which they are willing to buy or sell their digital assets. For example, if you think the price for Ethereum will go down, you can set an order with a lower limit price and GDAX will automatically fill the order once ETH price reaches that level.
- Stops. This feature allows you to set stop loss which could be quite useful especially if you are not in front of your computer all the time. As you know, Bitcoin and Ethereum prices could be quite volatile and if you don’t liquidate your position, you can suffer considerable losses. With stop-loss, you can get GDAX automatically fill the sell order if the price drops below the level that you set.
- Margin Trading. This is an advanced feature used by most institutional and professional traders. You can get up to 2x and 3x leverage depending on the crypto trading pair. But you have to be careful when trading with leverage and surely know what you are doing.
While conducting this GDAX review we were completely satisfied with its advanced trading platform and an only potential downside is a limited number of altcoins. GDAX and Coinbase are constantly working on improving their services and expanding product range but for now, investors can only trade 4 most popular cryptos.
GDAX Review – Trading Fees, Limits & Liquidity
As we already mentioned in this GDAX review, one of the main advantages compared to Coinbase are low trading fees which range from 0.1% to 0.25% for Taker trades and have no fees at all for Maker trades. So if you trading as a Maker and only placing limit orders or stop-limit orders (and not market orders) you trading fees can be eliminated completely.
Deposits to your GDAX wallet in Bitcoin, Ethereum, Litecoin and Bitcoin Cash are unlimited. Deposits via wire transfer in USD are also unlimited, as well as there is no limit on the number of trades or your balance.
The withdrawals for individual accounts are limited to $10,000 per day, which is increased to $50,000 for institutional accounts. You can also increase the withdrawal limit but need to contact GDAX to request the approval which is considered on a case by case basis.
GDAX Review – Opening an Account
Since GDAX is a part of Coinbase, in order to start investing in Bitcoin all you have to do is open an account with Coinbase. The verification process is very straightforward and you will need to provide personal details such as full name, date of birth, phone number and email as well as copies of passport or driving licence.
To deposit funds into Coinbase you can use various methods such as bank transfer, debit/credit card, PayPal and other payment methods. Once your funds are deposited to Coinbase you can easily transfer them to GDAX and start trading like a professional.
GDAX Review – Customer and Country Support
Depending on where you are based, you will be able to deposit different currencies such as US Dollars, Euro and British Pound.
GDAX support is available in most of the US states and most of the European Countries. As most exchanges GDAX offers email and online support which from our experience is quite good with most of the queries being responded to within 24 hours.
GDAX Review – Special Bonus
If you are new to Coinbase / GDAX and don’t have an account yet, you can open one using this link and receive a special bonus – $10 worth of Bitcoin. While this might sound like not a lot, it is absolutely free and can help you to make first steps towards investing in Bitcoin.
GDAX Review – Conclusion
By being part of the Coinbase, GDAX is the most popular and advanced cryptocurrency trading platform. Coinbase is backed by largest investors and global corporates such as New York Stock Exchange, Union Square Ventures, and Andreessen Horowitz to name but few, and is constantly investing in the development of its trading platform and expanded product range. GDAX offers advanced features such as API connectivity, margin trading and advanced charting tools. While aimed at professional traders, it is also easy to use and learn for beginner Ethereum investors who are eager to learn and those who do not want to pay high fees on Coinbase.
After completing this GDAX review we have to say that we consider GDAX to be one of the most popular trading platforms and cryptocurrency exchanges. If you want to start investing in Bitcoin, Ethereum and other cryptos you should definitely try investing with GDAX.
You can also check other alternative trading cryptocurrency trading venues here.
- Go long or short on Cryptos from 10p a point
- Risk management tools
- Actionable trade ideas
- Trade anytime, anywhere