GDAX Review: Is GDAX a Safe Way to Buy Cryptocurrency?

GDAX Review

Global Digital Asset Exchange, most often referred to as GDAX, is one of the world’s most popular places for the exchange of cryptocurrencies.

GDAX is run by the same company that owns Coinbase, arguably the more popular cryptocurrency exchange platform of the two.

While both provide the same functionality, many advanced investors inevitably make GDAX their primary form of crypto trading.

Site Type:Cryptocurrency Exchange
Available Cryptocurrencies:Bitcoin, Ethereum, Litecoin
Community Trust :Great
Customer Suppor:Good
Fees:Very Low
Fiat Deposit Methods:Bank Transfer
Fiat Withdrawal Methods:Bank Transfer
Site:https://www.gdax.com

Who Should Use GDAX?

The GDAX platform is better suited for people with an intermediate understanding of crypto trading, institutional investors, and professional investors. GDAX may look slightly daunting for beginners, but it’s fairly easy to understand once you get the hang of it.

Customer USD funds in GDAX are FDIC insured, meaning your balance up to $250,000 is protected.

The exchange has a variety of digital currency pairs like Bitcoin, Ethereum, Litecoin, as well as fiat currencies such as USD and EUR.

Kraken vs GDAX Comparison:

GDAX and Kraken are targeted to two different types of investors.

Final Thoughts

Overall, GDAX is a great exchange because it provides the same security and back-end trading functionality as Coinbase but with a fraction of the fees.

If you’re a beginner, it may seem like a scary big step to jump from something as simple as Coinbase into GDAX. It looks complicated, but you’ll get the hang of it after you watch a few tutorial videos and play around with the options. In the end, you’ll be able to save a ton of money on fees, as well as enjoy the much greater functionality.

GDAX has a simple interface that is best for investors who want to stick with basic coin investing with easy account verification.

Kraken, with its large selection of coin pairings, is suited for more experienced investors who are interested in alternative coin trading.