GDAX Digital Currency Exchange Review

GDAX is a reputable cryptocurrency exchange that allows traders and investors to trade multiple cryptocurrency pairs. The platform was developed by Coinbase, a digital wallet provider headquartered in San Francisco, California. It was started by Brian Armstrong and Fred Ehrsam in 2012. The company began as a digital wallet provider compatible with Bitcoin before extending compatibility to other cryptocurrencies.

In 2016, Coinbase seized the opportunity provided by the rising popularity of cryptocurrencies and developed GDAX (Global Digital Asset Exchange). GDAX currently offers high volume digital asset trading and wallet services to over 30 countries around the world.

Since Coinbase is located in the US, GDAX is subject to Federal laws. Today, it is regarded as the world’s leading cryptocurrency exchange where traders and investors trade digital assets against the US dollar and other currencies.

GDAX started out by offering Bitcoin trading before adopting Ethereum. Today, traders and investors have the opportunity of trading with several cryptocurrency pairs for example BTC/USD, LTC/USD, ETH/USD, and BCH/BTC among others.

Cryptocurrency Trading

As said earlier, GDAX is a world class cryptocurrency exchange designed for traders and investors. As a world leading cryptocurrency exchange, GDAX allows traders and investors to trade in cryptocurrency pairs. While the company allows traders to trade cryptocurrency pairs against the USD, they can also do so with the Sterling Pound, Euro and Canadian Dollar among others.

Here is what GDAX supports by cryptocurrency:

USA – LTC/USD, ETH/BTC, LTC/BTC ETH/USD and BCH/BTC
United Kingdom – BTC/GBP, LTC/BTC, and ETH/BTC
Canada – ETH/BTC and LTC/BTC
Europe – ETH/BTC BTC/EUR and LTC/BTC
Singapore – ETH/BTC and LTC/BTC
Australia – ETH/BTC and LTC/BTC

Coinbase has provided an intuitive interface with real time charting tools, order books, trade history and order process. This has made it easy for traders and investors to use GDAX to trade cryptocurrencies. Actually, if you have traded with other securities like stock, commodities and futures, then you will be right at home when using GDAX.

Trading Tools

As said earlier, GDAX has an intuitive dashboard rich in trading tools. Available trading tools include charting tools where traders and investors can either select candlestick or line chart. You will also find the order book displaying market size, price in terms of USD and your order size. This tool is located on the left panel. Below the order book, you will find the order spread. Before heading to the right panel, you have the option of placing different orders – buying and selling. All you have to is input the amount in USD (or supported currency) and you are good to go.

You can take advantage of Limit and Stop orders finally making your trading experience to be seamless. Towards the bottom, find the advanced orders section. Available orders include Immediate and Good Till Cancel orders. On to the right panel, you have trading history. Data provided is real time and it’s categorized into the following columns – trade size, price (USD) and time.

If the price chart is not your style, switch to the depth chart by clicking on the available link at the top right hand corner. Since you are trading in cryptocurrencies, GDAX has provided a drop down menu to allow traders and investors to select their desired cryptocurrency.

Pricing Structure

At the time of writing, GDAX was offering no fees on maker trades as well as volume based discounts for all maker fees. To attract traders and investors, GDAX has organized its fee structure as follows:

BTC/USD
BCH/USD
BTC/EUR
BTC/GBP
ETH/BTC
ETH/EUR
ETH/USD
LTC/BTC
LTC/EUR
LTC/USD

When it comes to Bitcoin trading, GDAX charges 0.25% taker fee for all books and a 0.30% taker fee for all ETH and LTC books. The value is collected after every trade. At the end of each day, a rebate is calculated by the system and issued in the quote currency. This amount represents the percentage of total volume per cryptocurrency traded over the last 30 days.

Want to know more? Here is the full GDAX pricing structure: https://www.gdax.com/fees/BTC-USD

Final Thoughts

GDAX is a world leading cryptocurrency exchange with a stunning interface rich in trading tools like charts – line and candlestick -, order book, trading history, stop and limit orders among others. It offers a competitive fee structure that is affordable to intermediate and professional cryptocurrency traders.

Although it’s a great cryptocurrency exchange, it has a few drawbacks. For starters, it currently supports few altcoins/pairing, supports fewer countries (less than 30) and it’s not ideal for beginners.

All in all, GDAX is a successful cryptocurrency exchange that is trustworthy and has a great reputation.