One or the other somewhat experienced trader should already be familiar with the nameGDAX. If not: It is a company of the well-known Coinbase Inc., which also operates the Coinbase platform of the same name. In any case, this renowned background speaks to the fact that users can expect some good performances and, above all, a serious background here – right? We think: control is better than trust and have therefore taken a close look at the provider and its portfolio. And the result is shown by our GDAX experiences below.
|⭐Rating||4.5 / 5.0|
|🐂 Cryptocurrencies||4 Cryptocurrencies like Bitcoin and much more.|
|📈 Fees||min. 0.10%|
|⚖️Top Bitcoin Exchange|
|🏆 GDAX|| |81||Jetzt Traden!|
Right at the beginning of our article, we can take away any possible fear of the company from all users. It is true that in recent years some "black sheep" have been up to mischief on the Bitcoin Exchanges market, but these times are largely over. The market is much more regulated and GDAX in particular can be described as one of the safest and most reliable platforms for Bitcoin exchanges. There are of course several reasons for this, which we will go into in more detail in our GDAX test report.
Our experiences at a glance
A whole range of information can be gathered about GDAX . The provider provides its users with an in-house trading platform that can be used without prior software download. Not only Bitcoin can be traded on the platform, but other well-known coins such as Ethereum, Bitcoin Cash or Litecoin. Various order types can be selected, and traders can also use various tools to support trading. The provider has been active since 2016. The bottom line is that it is still a fairly young representative, who, however, can convince with the overall professionalism of his "mother" Coinbase. Doubts about the seriousness need not be expressed.
|Address||548 Market St., San Francisco, California| ||109|
|Live Chat:|| |127||Nein|
The customer base of the provider does not only extend over the native America, but over large parts of the whole world. Accordingly, the platform is based on an international website that is only available in English. The same applies to customer support, because here too, contact can only be made in English. The bottom line is that this should only really challenge very few traders, after all, most terms related to the exchanges are international anyway. Trading via GDAX is not only made possible for private individuals, companies can also trade here. Also interesting: trading is also possible with the help of a mobile app, which can be used without an additional download.
GDAX: Fraud or not?
That a GDAX fraud with this provider was ruled out can be guaranteed in various ways. On the one hand, the professional background in the form of Coinbase can be mentioned here. The provider has been working reliably for several years and has not yet come into any debt. Probably the most important aspect is the official license of the provider, because GDAX is monitored and controlled by the responsible authorities in the USA. These two aspects alone show quite clearly that it is a reputable and reliable provider.
Also good to know: Fraud by outsiders is made more difficult by maximum protection. Before making a deposit or completing a trade, users must identify themselves with a copy of their ID card or other official document. In addition, the deposits are protected by various insurance companies, which protects the assets of the investors up to a value of 250,000 euros. Every trader can therefore trade successfully here with peace of mind and is definitely on the safe side. In any case, the platform is very far away from fraud or other criminal transactions.
Overview of what GDAX offers
Anyone who trades with GDAX can rely on a highly modern and clear trading platform. The provider provides its trading environment in a web-based version, so that trading can take place without prior software download. On the one hand, the coins can be traded as currency pairs, on the other hand, the amounts can also be “stored” here. There are no registration costs, but various order fees must be taken into account when trading. But more on that later.
Even before opening their own trading account, GDAX users can get an overview of what is on offer. The provider provides free access to the trading interface, so that you can at least take a look at all the control surfaces and commands. If you then open your own account and make a deposit, you can fully start trading. At this point, once again, a reminder: Before it can really get started, users must pass an identity check, during which a copy of their ID card or other official documents must be submitted.
For trading, the coins Bitcoin, Ethereum, Bitcoin Cash or Litecoin are available. Fiat currencies such as euros, pounds or US dollars are also accepted when making deposits. A total of twelve currency pairs are made available for trading. These include, for example, BTC/USD, BCH/BTC, BCH/EUR, ETH/BTC, ETH/USD, LTC/BTC, LTC/EUR or LTC/USD. You can trade in three different order types. In addition to market orders, limit and stop orders are also available. Margin trading is also possible according to our GDAX experience. Helpful: Trading with the provider's API interface is particularly easy and effective. Documentation is also provided for this at the same time, so that this interface can be used in a relatively simple manner.
Fees for trading with GDAX
Trading via GDAX will not completely free of charge. Like many other competitors, the platform uses a tiered fee structure, so as volume increases, lower percentage fees have to be paid. The taker fees can be “bargained” down to 0.10 percent with large volumes, while there are no fees for maker trades. So the bottom line is a fair distribution, especially since the fee structure can be viewed transparently.
Deposits and withdrawals
First of all, it can be mentioned that the provider does not charge any fees for use or storage . The platform lets users hold their assets for as long as they wish. There are also no fees for inactivity or the like. However, it should be noted that deposits are not always free of charge. The transactions can be processed with the SEPA transfer and the crypto currencies.
In the case of the coins, deposits are processed free of charge, there is no minimum or maximum for the deposits. A fee of 0.15 euros must be taken into account for the SEPA transfer. The deposits are of course processed, but the SEPA transfer is not really recommended due to the fact that it takes several days. Possibly good to know: The transfer between Coinbase and GDAX accounts can be done directly and free of charge. There is no waiting time when moving the funds.
|Payment options at GDAX|
|Payment options:||SEPA, Wallet|
|Minimum deposit :||none|
|Fees:||0.15 CAD with SEPA|
|Account management possible in:||EUR, USD, GBP|
|Payout options:||SEPA, wallet|
If customers want to make a payment, they can use the various wallets and the SEPA transfer again. With the SEPA transfer, a fee of 0.15 euros is due for a payout. Payouts with the wallets of the coins can be processed free of charge. Important to note when paying out: There is a daily limit of $10,000. However, this only applies to private individuals, because the limit for business customers increases to up to 50,000 US dollars per day. In general, a very good performance in the area of deposits and withdrawals, especially since it works with pleasantly low fees.
Security and regulation
GDAX received the official license for the distribution of its own offer from the responsible authorities in the USA. This ensures that users always have access to a secure framework and that the provider is monitored in his daily activities. Another proof of the serious way the provider works can be found in the deposit insurance. All user deposits are capped by various insurance companies up to an amount of $250,000. In addition, a large part of the business assets are kept in a cold wallet, which can never be attacked by hackers or criminals.
Of course, the provider's appearance also includes two-factor authentication, which means that access access to the user account is only possible with an additional security key. In addition, the provider uses SSL encryption, which protects all sensitive user data. This ensures that, for example, the address or bank information of traders cannot fall into the hands of criminals. All in all, GDAX promises first-class security and can offer its users an all-round secure framework.
The work of customer support is of course important when trading via Bitcoin Exchanges, After all, all traders can have ambiguities or misunderstandings. If so, it's always nice to be able to rely on helpful support. This is provided by a ticket system, with the help of which users can contact the customer support staff directly. Of course, there are no fees for the advice, but the advice is only given in English. Important: Depending on the workload, you may have to wait several days. This is not necessarily an optimal solution, but it cannot be avoided without further alternatives such as a live chat or a telephone hotline.
Nevertheless, the provider can score with a help center, which is directly on the website find is. Of course, the topics are only dealt with in English here, but they are quite extensive. The questions are divided into different subject areas so that you can search for your own answer in a targeted manner. It's even faster if you use the integrated search function. All you have to do here is enter a term, after which the platform will then display all the matching results. As already mentioned, additional help or documentation is available here and there for newcomers. All in all, despite the sometimes long waiting time in the ticket system, the provider makes a stable impression in terms of customer support.
User friendliness of GDAX
GDAX has to hide when it comes to user friendliness ahead of any competitor. The start page already gives a good impression and shows that the provider attaches great importance to a proper design of its website. The individual areas can be targeted precisely, while at the same time the most important information is all quickly accessible. The provider also brings in a clear plus with its trading platform. This presents the possible order types on the left-hand side, while the order book or history, for example, can be viewed in the upper area. A price chat occupies the main place in the platform, with which the current processes and developments can be understood even better.
The majority of all traders nowadays attach great importance to mobile trading, after all, executing your own orders is even more flexible. The platform has opted for a mobile way, with which all users can access the portfolio equally. The GDAX app is not offered as a download version, but as a web-based version. In concrete terms, this means that no software is required for use. Instead, only the mobile browser is opened, where the website of the platform then has to be accessed. There are no disadvantages, and users with a good Internet connection do not have to put up with longer loading times. So all in all a good performance in the mobile sector.
Conclusion: Quality work is done here
Certainlythere are bitcoin exchanges on the market that can convince with a larger selection in the portfolio. However, GDAX also proves its qualities in the rather limited variety. The portfolio is ideal for newcomers, for example, as it mainly focuses on prominent coins. In addition, various documentation is available, which according to our GDAX experience can help significantly when entering the trade. The fees are okay, but can even be reduced to a good 0.10 percent for high-volume trading. The mobile alternative also provides a reliable service and can be described as a good companion on the way to work or in your free time. Since there are no doubts about the company in terms of security, our overall assessment is of course positive.