GDAX Review: Coinbase’s Bitcoin Exchange, Litecoin Exchange, and Ethereum Exchange

The Global Digital Asset Exchange (GDAX) is a trading platform launched by Coinbase.com in May of 2016. GDAX trades Bitcoin (BTC), Ether (ETH), and Litecoin (LTC), and accepts USD, EUR, and GBP Deposits. GDAX owned by the Coinbase Inc, which is based in San Francisco, California.

GDAX is suited to the needs of traders with mid-level experience in crypto trading, as well as institutional and professional investors. GDAX is fairly easy to understand once you get the hang of it, but may be slightly confusing for a first time trader. Customer USD funds in GDAX are FDIC insured, meaning your balance up to $250,000 is protected.

GDAX currently ranks #3 on the BlockExplorer Top 25 Cryptocurrency Exchanges List.

GDAX Bitcoin Exchange Summary:

gdax cryptoName: GDAX
URL: https://www.gdax.com/
Total trading pairs: 9
Founded: 2016
Deposit fees: no
Withdrawal fees: no
Trading fees: 0.00% – 0.25%
Margin trading: yes
USA accepted: yes
Verification levels and withdrawal limits:

Verification Level

Limits

Verified Algorithmic

GDAX Exchange Verification Process:

Users who are already registered on Coinbase don’t have to create an account from scratch and can log in with their Coinbase credentials.

GDAX has two levels of verification. Note: They do not have an unverified tier available for use. Verification is required, and users are not allowed to deposit or trade until the verification is completed.

The verification process is straightforward and is different depending on the country. This is due to the differing regulatory atmospheres in different countries. Some are friendly and some are not. In fact, in some countries, like the United States (US), there are differing regulations depending on state.

US users will need to provide a copy of their driver’s license, residential address, and SSN. Please note that GDAX isn’t currently allowing every American state so they won’t accept US passports as an identification document, they need to see and verify what state you are living in to be compliant. As noted previously, some American states are not allowed. US states not yet supported by GDAX include Wyoming, Hawaii, and Minnesota.

UK users will need a photo of an ID card, driver’s license or Passport as well answers to several identity questions

Users from other countries such as Singapore, Australia, Canada and European countries are required to provide a photo of an ID card, driver’s license or Passport and another photo of a different ID document.

Once you are verified: Happy trading!

Isaac Rockett

Editor in Chief. Blockchain enthusiast. Maker. Tech aficionado. I love coffee and camping, cars, bikes, and beer. Not in that order or combination.

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