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GDAX provides a nice option for advanced and professional traders, particularly in the United States and Europe. It’s an all-around package that’s ideal for anyone who already owns major cryptocurrencies and wants to trade with low fees. The platform’s incorporation of GBP as a currency is a handy addition to the UK market in addition to the USD and EUR trading we’ve come to expect.
I like the pathway GDAX creates for users to move from making their first investments to getting a bit more hands-on with trading. You can start to understand the basics of cryptocurrencies and transactions through Coinbase before seamlessly moving to GDAX. It’s a development that makes the process straightforward, especially as so many people hold Coinbase accounts.
To put things simply, GDAX is a well-developed cryptocurrency trading exchange that respects the user, allowing it build great trust in the industry.
by Eliot Prince, 2 Jan 2018
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.
by Alex Moskov, 20 Aug 2017
I have accounts with Kraken, Coinbase/GDAX, Poloniex, LocalBitcoins, Bittrex, Bitstamp, and BTCE. I have been involved in cryptocurrrencies since 2013. I live in the United States. I do not have an account with Gemini. I am a large customer, meaning that my account is six figures. I am a very experienced investor, and I have lived all over the world.
In 2013, investing in Bitcoin was scary. You had to buy your coins on LocalBitcoins, and if a bank got wind of what you were doing, they might shut your account down. You might even be arrested, depending on what country you lived in. The exchanges that existed, Bitstamp and BTCE, gave the impression that they were run by gangsters in either Eastern Europe or Russia. You were lucky if you could get your money out of them.
Now, in 2017, the advent of regulated U.S. exchanges such as Coinbase, Kraken, and Gemini has improved the situation somewhat. However, one large U.S. financial institution recently unilaterally closed my account because I was sending wires to Kraken.
The other major problem nowadays is that the customer support provided by these exchanges is abysmal or non-existent.
I recently wrote a review of Kraken where I gave them five stars. This was based on the fact that they had verified me as a Tier 4 customer, had a dialog with me about what limits I needed, and were able to resolve all problems in a reasonable amount of time. Kraken\'s interface is horrible, practically unusable, and their volume is bad. Since that time, Kraken\'s customer service has worsened. Now, instead of resolving issues, they ignore them and then two weeks later close the issue with a comment that they hope the issue is resolved (it was not).
A month ago, Coinbase was in my opinion unusable. They literally had never responded to a single one of my queries. New queries were merely aggregated into one monster query thread and never answered. As a result, I could not get money into Coinbase.
Recently, however, Coinbase has realized the error of their ways, and they are making a concerted effort to improve customer service. From my perspective, they have recently attempted to resolve issues I raised two months ago. They are making progress.
In addition, they allow wire transfers of amounts up to $250,000 per day, which is adequate. Much of their verification is automated and works fine. And GDAX is a high volume exchange and much better than Kraken.
Therefore, for all the above reasons, I now recommend Coinbase and GDAX (same firm) over Kraken for U.S. investors.
I have read reports that Coinbase has arbitrarily frozen customer accounts because they took vacations to Cuba, so you might wish to move your coins to your own wallet rather than keeping them at Coinbase after you buy them.
by xfcdes, Aug 2017
GDAX can be a hassle to verify with, especially with their webcam/mobile app requirement. But I will say that once I was able to get verified, I really enjoy trading with 0% fees for maker (limit) orders.
by squatter, 4 Nov 2017
Not a bad platform for trading.
by klarki, 26 Apr 2017
my favorite website
by anabel - September 21, 2017
Let me just \"share my experience with GDAX\".
I\'m european, I\'m on Kraken (which I would keep using if it wasn\'t terribroken) and Bitstamp (ok but fees are too high). Had no problem registering those.
GDAX not only requires trusting your PHONE (I don\'t) to send captures of your stuff (because they don\'t support uploading), they also require you to have an ID card (obviously) AND either a passport or a driving license.
Can\'t drive a car? You can\'t join.
Spent an hour trying their broken website on my phone, reading FAQs, installing the Coinbase app, trying several times to reg my passport (kept being rejected, I guess because it has expired)... What a piece of crap!
by Kloug, 4 Nov 2017
99% of the time when you by it goes up when you sell is goes down. Is like it waits for you to something then goes against you. I think it’s programed to make you loos your money.
by Miles - February 19, 2018
They can freeze your account and your money for ages without any support or explanation.
by Luigi D'azelio,22 Jan 2018
Zero customer support. Don’t expect anyone to answer their support phone number and expect a month between any kind of email exchage. There are far better ways to invest in Cryptocurrency than through this immature kluge…