Cryptocurrencies trading numbers are increasing day by day. A huge amount of traders invest their investments in these Cryptocurrencies for enjoying future benefits. There is no doubt that now its a billion dollar earning industry. Also, there is rarely any case where the market is going down; also the rate in daily trading is high. However for making lots of Cryptocurrencies what exactly do you need? Can GDAX help you in doing that exchange for you? Well, for knowing better and understanding what exactly you are getting, here is a complete review on GDAX that will help you.
What is GDAX?
So before you go further, it’s important to understand what exactly GDAX do. Well, it’s a Cryptocurrency exchange where the trader can trade and earn digital coins as it allows you to buy and sell Cryptocurrencies. GDAX also was known as Global Digital Asset Exchange which was launched in the year 2016. Also, the founders of GDAX are also working for the company and that’s why it turns out as on f the biggest exchange brokers. Not just that, the company is working as a middleman and charge for the services that they offer to the buyer and sellers on their transactions. Well, the main idea behind introducing the GDAX was to add and provide more tools for trading instead of providing only buying and selling the option to the traders that you get in Coinbase. That’s why GDAX offers different kinds of stuff like real-time trading and tools by which you can do your trading for getting better results at the end.
Well, GDAX looks for genuine and experienced traders. Other biggest positive point is that you automatically get an account of GDAX if you have an account in Coinbase. For login, you just need your username and details that you use for Coinbase login.
One of the important points to understand is the interface of the GDAX. Well, you will get a simple and straightforward interface that is much suitable for advanced traders. Well there are different things that you are going to get such as order book, open orders, Trade history, balance, candlestick price chart etc. however you can change the display of chart as if you want to put it as line chart you can do it where the time intervals can differ from one minute to one day.
Also, if you are using their service for the first time or you are an expert in this stuff, in any access you can get the simplest ways so you can understand stuff better. The interface of GDAX is easy and user-friendly which make it good for different purposes.
However, the company can be a little complex as they allow traders for trading the Cryptocurrencies instead of buying -selling. And for that, it’s important to have at least a little bit information. It will be much simpler to understand the process if you a familiar with the concept before.
Another point which is count as the advantage of using GDAX is their price. They charge low fees which make them suitable for different traders. Usually, the fees range for taker traders start from 0.1% to 0.25%. However, there are no fees for the maker traders. Comparing to other options in the market, it’s much cheaper and pocket-friendly, also it’s suitable for different type of Cryptocurrencies investor as well. However, it’s important to understand different aspects of trading with GDAX for avoiding complex stuff in the future. Also, here you can place different types of orders such as market order, stop limit order and limit order. If you are planning to place an order then it actually means you are getting the market price at that current time and the token will be provided you at that time. However it’s not considered a most wises option, also it’s not that pocket-friendly either
For better, you can use limit order where you limit the price so you can buy or sell the token when you get the process of your limit. It’s more controlling and easy option where the chances of getting better benefits,
Well, the team understands the importance that’s why they allow the customers to get fast deposit as well as withdraw money .before you start your trading it’s important to have bank transfer which helps in verifying your bank account. However, the bank transfer covers 3-5 business days, not just that they are free too. If not that, you can also get same day bank wire option but for that, you have to be USD-denominated with GDAX customer. One more thing that is important to understand that the payment system can be different as it depends on the location and country you live right now. Also, the charging rate will also change.
Those who look for debit and credit card use, well the company not really support those. If you are not getting any option which is suitable for you then you can simply use the Cryptocurrencies for deposit. Well, here you don’t have to pay for GDAX fees but still, you have to pay the charges of blockchain transactions.
Currency and Country Support
Different countries have their own currencies which also affect the payment option of GDAX. well, if depending on the place or country where you are located and what trading pairs that you can get for example BTC/USD or ETH/BTC etc. it also depends on the range of fiat currencies, however, GDAX support different currencies with include euro, British pound, and American dollar.
About country support, GDAX do not support places like Hawaii, Minnesota, and Wyoming. Rest part of Europe, the United States and other different countries are supported by GDAX. However, you can find better when you visit their official website as all the supported countries are mentioned.
Limits and Liquidity:
There are no limits when it comes to deposit Bitcoins, Bcash and Litecoin. Also, there is no restriction if you are going to deposit USD using wire transfer. Also, the company offers one of the highest trading platforms for liquidity. If you have an individual account then you are free to withdraw at least $10,000 per day. If you have an institutional account then you are free to get $50,000. However, you can raise the withdrawal limit but it depends on your request and approvals. If you want to know better about how these things work in the company and if you have further doubts, you can check their site where you will get everything that you are looking for. Not just that, visit their rules page for understanding what else do you need to know so you can enjoy the better services and results.
GDAX’s Pros And Qons:
There is no doubt that GDAX is one of the best, simple and effective platforms for crypto investors. Not just for the experts but also for those investors or buyers who are going to deal with such things for the first time, GDAX is helpful for them as well. Also, they save you from the hassle-filled situation and high budget expense. However, they allow you to trade on limited coins. But also in return, you get complete security and safety assurance for your every trade and transactions. There range in liquidity is also one of the attraction points which attract traders to use the services. However, there are some major flaws like their coin selection is limited which put some barrier is transactions.
Apart from that, there are some big pros that you need to know so you can understand why it’s a good option for crypto trading:
- GDAX allows bank account deposit as well as you can easily withdraw your money
- The fees for deposit and withdraw is low if you compare with other options in the markets
- If you have Coinbase account then you can do your transfer with that
- The trading fees are not high, which is a great thing who is looking for services in some kind of budget
- The process for the opening count is hassle-free and straightforward
- Also, you are getting complete security
- The customer care support is also one of the strong points
- The platform is simple and user-friendly which help every type of traders and investors to control the work without going through any kind of hassle.
Well, when they offer so many pros but there are also some points which fall as a drawback for the people who want to use GDAX. Such as:
- Well if you are looking for credit card or debit card deposits it’s not possible
- They support only four Cryptocurrencies which limit their services at some point
- Also, they have limited nationalities which allow only selected people to join selected people to join
- You can’t do anonymous trading as registration is important for trading
- Also, you can’t do a live chat.
Well, for those people who want a safe exchange without worrying about too much, GDAX can be a real savior. However, it depends on what exactly you are looking for and what you want. But in short, it’s a great option to consider if you are looking for Cryptocurrency exchange platform.