EST 20'000 BTC
Global Digital Asset Exchange or GDAX, for short, is an American based cryptocurrency Exchange platform that is designed to optimize trading experience especially for experts in the cryptocurrency game. Its services are not restricted to any country and they also offer wallet services in addition to the trading and exchange services. GDAX is actually part of one of the world’s leading cryptocurrency platforms- Coinbase. It is one of the most famous exchanges in the world and the coin Base Exchange was only rebranded into GDAX as recently as 2016. GDAX’s reputation as the exchange of choice for professionals and long-term traders is second to none. If you are just starting out on your cryptocurrency journey, it would be much better to start at Coinbase. Once you have a firm grasp on trading terminologies and methods and you are looking to expand your trading experience, you may then move to GDAX. You can make use of the same login details for Coinbase and GDAX accounts.
GDAX gives room for trading only a limited number of coins and an equally limited number of fiat currencies are allowed. The three currencies that can be traded on GDAX are Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH). US dollars, Euros and British Pounds are the recognized fiat monies. Bitcoin can be traded against any of the allowed fiats but you can only trade Litecoin and Ethereum against USD, Euro or Bitcoin.
The following payment methods are accepted on the GDAX platform:
As a global exchange, GDAX is open to traders from all over the world. However, the supported currencies may limit traders from continents other than Europe and America. Users from these regions would need to first convert their fiat money to any of the supported currencies.
GDAX customer support is available round the clock although users claim it could take about 24-72 hours before responses to inquiries are provided. The exchange also has a help section that provides information about common problems users encounter. The customer support may not be one of GDAXs strong points, it is definitely not one of the weak points either.
GDAX Is considered among the most reliable and safest exchanges in the virtual currency market. The exchange is yet to witness any major security threat and user accounts are insured by the Federal Deposit Insurance Corporation (FDIC). Before you are allowed to trade on the platform, you would need to upload an ID and a proof of address. This makes GDAX less private than many other platforms.
GDAX has been relatively free from public controversies and tells a lot about the reliability of the exchange. The only recorded issue that was significant enough to garner the attention of the public was a sharp dip on its Ethereum exchange sometimes ago. The price of Ethereum went as low as $0.1 from around $297. The problem was quickly resolved, though, and users were compensated for their losses.