Global Digital Asset Exchange, mainly known as GDAX, is among world's most well-known platforms for its foreign exchange of cryptocurrencies. GDAX is created by the owner of Coinbase and became very popular cryptocurrency market platform. This platform provides easy to use operations and hence advanced level investors use GDAX as their main crypto trading platform.
Who Should Utilize GDAX?
GDAX platform is ideal for those having a basic knowledge of crypto trading, professional investors, and also skilled investors. GDAX may seem somewhat difficult for beginners, however, it really is rather simple to understand the moment you get used to this. Moreover, USD funds in GDAX are FDIC insured, meaning that your balance up to £250,000 is secure. This exchange has a variety of digital currency pairs such as Bitcoin, Ethereum, Litecoin, and fiat currencies like USD and EUR
GDAX Review: Deeply Exploring the Platform
In order to utilize GDAX, all you have to do is to create a Coinbase account. You can simply transfer funds from your Coinbase account to your GDAX effectively with no fees. Here is GDAX review
GDAX now comes with a very simple interface, provided you have a good understanding of how these exchanges works. It also provides users with best charting tools as well as a trade history.
- Flexible API also enables for secure as well as automated trading bots. This is a huge reason various companies, as well as professional investors, want GDAX. It’s necesaary to learn that the Coinbase team initially places a huge amount of money on keeping their platforms super safe and secure.
- Real time market information. Look for the most updated crypto prices.
- Regular financial audits and IT security checks . It’s critical to note that the Coinbase team places a huge amount of money on keeping their platforms safe.
- FDIC insured USD balances up to $250,000.
- Safe storage. GDAX saves 98% of their investors’ funds off the Internet in storage.
- There is Wide variety of fiat as well as cryptocurrency pairs. Trade amongst BTC/USD, ETH/USD, ETH/BTC, LTC/BTC, BTC/GBP, BTC/EUR, and others.
Moreover, GDAX enables you to trade using a number of different strategies.
- Market buy: This market buy is pretty good standard on any trade and is based on Coinbase, but if you do it on GDAX you will pay a less fee for that.
- Limit buys: This enables you to set a price limit that you wish to purchase something at. Similarly, if you think the cost of Bitcoin is going to drop in one day, you can similarly set minimum a limit buy for a lower cost. so, If the price drops, GDAX will complete your order even at the lower price.
- Stops: This enables you to reduce losses, that generally means GDAX will automatically sell less amount of your cryptocurrency if the price reduces to a certain threshold.
- Margin Trading. This usually means you can bargain trade with a leverage between 2x and 3x based on your crypto trading pair. This might be a very risky method to start trading, but the profit can be enormous.
The only one drawback is you simply can't buy many altcoins as other trades. It is possible that many altcoins will gradually be inserted into the platform, however for now that you merely need to rely on what is available today.
GDAX Pros and Cons
- Low Fees
- Nice trading platform
- Good liquidity
- No major hacks
- International market
- Customer support could be way better
- Few altcoins available
- A part of Coinbase, which is known for lack of privacy
- Suspicion regarding a “flash crash” in Ethereum prices
In general, GDAX can be actually an excellent exchange for the reason that it supplies exactly the same security and backend trading performance like Coinbase but using a small percent of these fees.
If you are a newcomer, it might look to be a scary big step to jump out of something as simple as Coinbase to GDAX. It seems complicated, however, you will get used to it once you see a couple of tutorial videos and also try other available features.