Global Digital Asset Exchange (GDAX) is a professional cryptocurrency exchange platform geared at advanced traders. It caters to both individual traders and institutions. GDAX is a sister exchange platform to Coinbase. It was started in 2012 in San Francisco.
Relatively low trading fees
Simple web-based user interface
Has not been hacked so far
Supports Few digital currencies
Few acceptable payment methods
Recorded suspicious Ethereum price spike
GDAX supports three main cryptocurrencies: Bitcoin, Ethereum, and Litecoin. Approved fiat currencies are US dollars, Euros and British Pounds. Bitcoins are traded against the three fiat currencies while Litecoin and Ethereum are traded against the dollar, Euro and Bitcoin.
GDAX is available worldwide. However, in countries whose currency is not accepted as GDAX fiat currency, a trader would have to convert their money to the platform’s accepted fiat currencies. GDAX is especially popular with US, Europe, UK and Australian traders.
In comparison to Coinbase, GDAX offers relatively lower trading fees. Traders can transfer their crypto funds to the GDAX Hot wallet to be able to transact more efficiently. Trading fees range from 0.1% to 0.25% which are dramatically lower than Coinbase 4% fee.
GDAX is a web-based platform. In the middle, there are tracking charts, and the menu is located on the left side of the window.
Traders can fund their accounts via credit and debit cards, ACH bank transfers and wire transfers. Traders who are already signed up on Coinbase can make deposits through Coinbase or use the funds on Coinbase to trade in GDAX.
User account verification requires proof of physical address and photo ID. It is considered one of the safest platforms as it has never been hacked. All deposits are insured for up to $250,000 per customer by the Federal Deposit Insurance Corporation.