Exchange cryptocurrency GDAX

Large platform for trading cryptocurrencies are different in millions of revs and a huge base of loyal customers. They allow traders profitable to buy tokens to earn on growth of the coins. Today the maximum attention, we will take the cryptocurrency exchange GDAX, consider what place it occupies in the market, analyze its advantages and disadvantages.

The CONTENTS

1. Review of cryptocurrency exchanges GDAX
   1.1. The listing GDAX
   1.2. Verification
   1.3. The input and output GDAX
   1.4. Exchange and trading on GDAX
   1.5. Trading volume
   1.6. Security
   1.7. The advantages and disadvantages of GDAX
   1.7.1. Something to praise
   1.7.2. For that blame
   1.8. Reviews about GDAX
   Review of cryptocurrency exchanges GDAX

Cryptocurrency platform GDAX is a division of California-based company Coinbase. Title exchange stands for Global Digital Asset Exchange. She was launched in may of 2016. While Coinbase is designed for quick buying and selling cryptocurrency exchange GDAX designed for traders with a lot of experience.

The interface home page of the exchange GDAX
Among the investors who have invested in the stock exchange major media:

The new York stock exchange;
venture Fund Andreessen Horowitz;
the investment Fund Union Square Ventures and others.
In June 2017 on the stock exchange incident, which almost instantly the cost of airtime dropped to zero. Because of that, some users lost their assets. The service promised to indemnify customers from its own funds. The incident became interested in the Commission on urgent exchange trade of the United States. Among other questions, to be answered by Coinbase — responsible of whether the incident is margin trading.

The website has only English version. In other languages, the developers of the interface are not translated. The latest news can be found on these sites:

Twitter;
Linkedin;
Facebook.
The exchange often becomes the hero of the materials of different publications such as:

Techcrunch;
The Wall Street Journal;
Fortune;
The New York Times.
The listing GDAX

To get access to trading on the stock exchange, you first need to register. These include:

name and surname;
your email;
password.
Confirm that you are 18 years old and agree to the terms of service. Link for verification is sent to the email provided during registration.

The registration form is on the exchange GDAX
If you already have an account on Coinbase, re-register on GDAX is not necessary. You will be able to log on to exchange with the same registration data. If you use another device for its authorization will also be sent a link to the post.

Verification

To verify your personal details you must immediately in the registration process. First choose the type of account is a private or institutional investor. Fill in all mandatory fields marked with an asterisk. The name service automatically pulls from the registration data. Specify:

date of birth;
address;
the origin of the funds;
its sphere of activities, as well as the company that I work for.
Next, you need to upload scans of documents. This can be an identification card, a driver's license.

When you create an account on behalf of the legal entity, must download the constituent documents of the company, to leave contact official representative of the enterprise, to specify the scope of activity and other important data.

If your region is not in the list of countries available to trade on the stock exchange GDAX, continue the verification process you will not be able to receive notification.

The input and output GDAX

Exchange allows you to buy cryptocurrencies for Fiat money. In particular, the available dollars, Euro and English pounds sterling. What currency to bring — depends on the region of residence. For example, the British will be able to put on Deposit pounds sterling, American dollars.

To make money directly from their Bank account. However, first it is necessary to verify. To do this visit trade select the option "Deposit", then "Add Bank account" and enter your details. Service will transfer you to Coinbase, where the process is completed. You can now easily have the balance of the money. All that is required is to specify the necessary sum.

Such transfers take on average 3 to 5 working days. If we add more and weekends or holidays, the process may not be delayed for 10 calendar days.

Similarly to the Bank account and withdrawal of money. To do this, use the option "Withdraw". With bitcoin, the situation is simpler. To start and output tokens can be verified all users regardless of their place of residence. It is enough to specify the correct address and the coins will go on the balance sheet. In addition, you can easily transfer funds between balances two Coinbase and GDAX. These transactions occur instantaneously and transfer fees are not removed.

To get to the stock exchange can be an unlimited number of funds. Withdrawal limit per day is set at 10 thousand dollars. Fees depend on the payment system. Many options are free. Withdrawal via SEPA will cost 0.15 euros. Enter dollars via Wire Transfer — USD 10, the output is 25 USD.

Exchange and trading on GDAX

On the exchange represented by 9 currencies:

BTC-USD
LTC-EUR
LTC-USD
ETH-BTC
BTC-GBP
LTC-BTC
BTC-EUR
ETH-USD
ETH-EUR
These pairs are visible to all users of the exchange, however, is available to each client differently. It all depends on the country of residence. Most pairs can operate residents of the UK, USA, European Union countries. Traders from Canada, Australia and Singapore are available only ETH/BTC and LTC/BTC. In addition, to trade on the platform may persons under the age of 18.

Present on the stock exchange and margin trading. This option was added to the platform to attract institutional investors. The maximum leverage is 1 to 3.

The process of trading on the cryptocurrency exchange GDAX
Traders can create applications on market, limit and stop orders. Limit orders also have their own varieties:

Good ‘Til Canceled (GTC) — the created order remains on the market until you can not cancel it.
Fill or Kill (FOC) — the application is either immediately executed or canceled.
Immediate or Cancel (IOC) — is executed fully or partially. Otherwise closed.
Post Only — if this option is checked, the order will be placed on behalf of the maker, and accordingly, the Commission will not be charged.
Commission when trading on the exchange is different. For makers they make up 0%. For takerow amount depends on monthly trading volumes, as can be seen from the following table

Trading volume

The average daily trading volume on the exchange is more than $ 160 million. The greatest demand is for BTC/USD — 104 million dollars. Also large volumes falling on these pairs:

ETH/USD — 18,344,200 $;
BTC/EUR — 16,514,700 $;
ETH/BTC — 11,072,800 $;
LTC/USD — 9,844,450 $;
Security

Protection of personal data and the security of users ' money — for exchange question of high importance. 98% of all assets placed in digital media offline. All the funds that are online, are fully insured. The exchange regularly conducts inspections of its protection system and are regularly subject to financial audits.

In addition, when you register, the site asks you to specify the phone number to set up two-factor authentication. The SMS code entered in the field on the next page.

The advantages and disadvantages of GDAX

Since the stock exchange is well known in the cryptocurrency environment, all of its positive and negative sides is clearly visible. Let us consider each of them in detail.

Something to praise

The advantages of the exchange include such moments:

Buy cryptocurrencies for Fiat money.
Currently available dollars, pounds sterling and euros.

Large average daily trading volumes.
For this indicator, the exchange is in the top ten among the other similar services.

On the stock exchange traders have access to the most popular cryptocurrency.
It's bitcoin, Litecoin, and Ethereum.

Insurance of client funds.
In the case of force majeure, the users will be paid up to $ 250 thousand.

A high level of security.
Data protection customers and their vehicles service devotes much time and attention.

Exchange for professionals.
First of all, this platform is intended for experienced traders. Newcomers here may simply be confused.

For that blame

Of the downsides there are the following shortcomings:

Working with a limited number of countries.
Private traders who would like to access the functionality of the exchange, this factor is very frustrating.

Customers from various regions of the world available to different number of currency pairs.
To see all the pairs and anyone can, however, work will not all.

The interface is in English.
Users that are not in English, you will have to use online translator.

A small amount of cryptocurrency.
In addition to the three main token users would like to see and other popular coins on the site.

Mandatory verification.
Trade available to users only after they provide full information about yourself.

Reviews about GDAX

In the first months after launch, users have often found bugs on the stock exchange. Later, the work of the service was adjusted. Clients of the market like the wide platform, the ability to trade with leverage, and the fact that their funds are insured.

At the same time, many users are outraged that their country is not supported by the exchange and to trading on the market they can't. There are complaints and on a long term input or output means.

Traded cryptocurrency exchange GDAX, used leverage, which provides a platform to share the details of the process with our readers below in the comments
written by:Natalya Smirnova | November 10, 2017