The emergence of Gdax:
The first legal US exchange was established in 2012 that goes by the name Coinbase. It is one of the most popular bitcoin exchange, and Coinbase is the one that has made access to digital currencies easier.
The big break came in 2015, and Coinbase became very popular, with many users having faith in Coinbase. It is after 2015 that Coinbase decided to expand its reach and started offering other digital currencies as well. Coinbase also set up exchanges for different which are as follows
- Casual investors
- Professional investors
What is Gdax?
Gdax is known as Global Digital Asset Exchange is an exchange started by Coinbase. Gdax is mainly for those investors whose profession is trading, and they highly trade in digital currencies.
Facts about Gdax:
- Gdax, when launched, was known as Coinbase Exchange. It was in 2016 that the company decided to rename it Gdax.
- Gdax has received the nod from its top investors, which include the New York Stock Exchange, Union Square Ventures, etc.
The confusion between Gdax and coinbase
There is a lot of confusion between Gdax and Coinbase. Gdax and Coinbase are two different things.
- Gdax and Coinbase are two different things.
- Gdax is an exchange that is made for professionals who trade in digital currencies a lot.
- Coinbase is an exchange that helps in storing digital currencies of investors and facilitate trading in digital currencies.
How does Gdax deal with the security threat?
Dealing in digital currencies has always been risky because of the significant fact that the government does not have rules and regulations made around cryptocurrencies. Gdax has taken several steps for the security concerns
- Gdax always keeps in check the security loopholes by regular financial audits and IT security audits.
- Gdax stored 98 percent of the customers’ digital assets offline in cold storage so that the assets remain secured.
- Gdax also provides FDIC insurance to its investors, with the maximum amount of coverage being 250,000 dollars per customer.
Where is Gdax most popular?
Gdax is very popular in many countries, and Gdax deals in four major digital currencies. Gdax is popular in the US and also enjoys a large number of users in Europe, Canada, and Australia. The four digital currencies in which Gdax deals in are as follows.
The customers from the US enjoy many options of currency pairs that they can trade-in. The options available are as follows
How does Gdax work?
Gdax is very popular among investors because cryptocurrency deposits and withdrawals take place free of cost. Even, you don’t need to pay any amount of money for maintaining a Gdax account. This is the reason that professionals prefer Gdax to other exchanges.
Gdax operates on the market taker free model. The rates at which fees are charged in Gdax differ with respect to orders generating liquidity and orders taking liquidity. The liquidity takers fees range from 0.1 percent to 0.3 percent.
Benefits of trading on Gdax:
Gdax provides several other incentives that the investors love so that it can attract a large number of professional traders to trade through Gdax. The benefits are as follows
- Gdax gives the investors that are investing through its exchange, all the benefits of the Coinbase network, which is comparatively popular exchange.
- There is no fees charged for transferring of any amount of money from the Coinbase account to the Gdax account.
- Gdax has given the liberty to Coinbase users to sign up to its exchange without facing any problem easily.
The future of Gdax
There are no basic rules and regulations that the government has imposed on trading in Digital currencies. This fact has made the market of digital currencies unpredictable.
There are also many exchanges that are emerging as the competitors of Gdax. Still, Gdax is successfully making its mark because of its famous brand Coinbase. The investors prefer Gdax because of its low fees. Gdax has a bright future ahead, seeing all these facts.
FAQ’s about Gdax
1. Is there a Gdax app?
Many investors complained that they used to face problems due to the fact that Gdax doesn’t have an app.
Finally, Gdax has launched its app on iOS so that the investors can easily trade in digital currencies and monitor the price of crypto. Gdax app is very useful in trading and has received positive responses from the users of the app.
2. What are Gdax fees?
Gdax does not have any charges for liquidity makers investors. Gdax has fixed a rate of charge for the liquidity taker investors, which range from 0.1 percent to 0.3 percent.
If you have a large volume trading in the liquidity takers list, even then, Gdax gives you a concession, and the rate falls to 0.1 percent.
3. Are coinbase and Gdax same?
Coinbase and Gdax are two different exchanges. Coinbase is the exchange that deals with storing digital currencies of investors. Anyone interested in digital currency can trade through Coinbase.
Gdax is the exchange that was particularly opened for professionally that regularly trades in digital currencies.