What is GDAX and how it started

GDAX exchange review

When new exchange starts working, it is rather challenging task, but probably, not for those with huge experience. Such companies develop with a big speed and meet requirements of their customers. They know what people need and how to provide the best service.

GDAX has become a famous cryptovenue almost immediately after it was launched. There is nothing surprising in it as a parent company, which operates well-known Coinbase stands behind the service. GDAX exchange is a similar trading platform but it caters different categories of clients. The company introduced the best features, which were previously implemented on Coinbase. The exchange was based in San Francisco in 2015 and listed such currencies as BTC, LTC, Bcash and Ether.
Usually, first use of the exchange is not easy, especially for people who haven’t applied to such establishments before. The interface is complicated and novices do not know how to trade if functionality of the service is not intuitive. Coinbase presents easy to use intuitive interface, but it is expensive to use the service. The fee is rather high. Convenience is a costly feature – traders pay 1.49 per transaction with bank account. Using debit or credit card, the person has to pay 3.99%. The burden can be unbearable if you use the service on a regular basis.

Advanced users have more freedom in this respect and use the sites with more sophisticated functionality. GDAX is one of such resources. The site is very convenient. All transactions are completed almost immediately. With right approach, the person does not have to pay fees on some cryptos. The interface of the site is simple and sleek. There are no extra details on it but it is not a problem for traders who know all nuances of trading.

The features offered on the site are extensive and include the order book, trading history, the order panel, and balance. Convenient candlestick price chart helps to make the right trading decisions.

In comparison with its parent exchange, GDAX is affordable. GDAX exchange fees vary from 0.1 to 0.25%. The platform has many benefits and crypto traders take advantage of them. There are opportunities to avoid the trading fees in some cases. If you place the order, you agree with prices found on the market, and get the tokens immediately. This does not let you economize. There are cheaper ways to acquire currencies such as placing a limit order.

You need to transfer funds via bank transfer to start trading. Verification of the bank account can take some time.  The availability of trading pairs depends upon the location. The platform supports British pound, American dollar and euro. It is also available in the USA with some exceptions – not in all states.

GDAX BTC exchange volume is high. The platform has high liquidity. It is not a problem to withdraw a big amount of money, let us say 1k dollars per day. The limit for corporative account is higher. They can withdraw up to 50k dollars daily. If you have some questions contact the support team, which clarifies such issues.

There is GDAX exchange app for Android 4.1+ Cryptofy.me, however there is no iOS version. One of the discussions initiated on Reddit was even devoted to this issue. Reddit user wondered about lack of GDAX exchange app for iOS platform.  This is certainly a drawback. Even Korea-based crypto exchange Gopax has apps for iOS and Android. GDAX should solve this problem asap.

Cryptofy.me has many helpful features including order management and different types of notifications and alerts. The app is called a rescue tool because the person gets the opportunity to take quick decision in the situation of high volatility of crypto market. In extremely busy days it is easier to access the servers of an app than that the platform used on desktop.

This is a very popular platform, so the developers have come up with altcoin trading bot made for this exchange which are as effective as Poloniex trading bot or Kraken trading bot.

If you just start trading, you can begin with Coinbase and then, after you find out more about it, select GDAX – a great alternative to Coinbase and not so expensive. The site has many benefits but sometimes one has to evaluate the exchange view before GDAX using.