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But, is GDAX Safe, legit, or a scam? Can you make money with GDAX?
GDAX is an online cryptocurrency exchange that will help you buy, sell also trade different altcoins.
Both GDAX and Coinbase are own and manage by the same company; they are both two exchanges in one company but with different functions.
Coinbase will only allow you to purchase and sell cryptocurrencies, while GDAX will enable you to trade in real-time with their various state-of-the-art technologies.
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GDAX at a Glance
Owners: Coinbase, Inc.
Year Founded: 2012
Headquarters: San Francisco, California, U.S.A
Founder(s): Brian Armstrong & Fred Ehrsam
Summary of GDAX Review
GDAX is a complete crypto exchange platform that allows users to trade various cryptocurrencies exchange, such as Bitcoin, Litecoin, and Ethereum. You can also exchange fiat currencies such as EUR and the USD.
But, Are users making money with GDAX? Is GDAX Safe to use?
In my personal opinion, GDAX is an excellent platform that belongs to the same owners of Coinbase. These are big brands in the industry.
Take it from me GDAX is very safe to use. That implies that your crypto asset is safe with the GDAX exchange.
My concern has nothing to do with GDAX but everything to do with you. Crypto trading on any platform is hazardous. You will make money, and you can also lose all you make in a day.
Trading crypto and forex in this case on the GDAX exchange is very risky. So it is no for me.
What is then my recommendation?
You can make massive money with crypto without trading crypto. Yes, you can make money with many cryptocurrencies exchange platforms without getting involved in trading.
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What Is GDAX?
GDAX was created in 2011 by Brian Armstrong and Fred Ehrsam with its headquarters in San Francisco.
Initially, it was named CoinBase Inc. dealing with online broker exchange of bitcoin cash, Litecoin, and Ethereum as well as digital asset exchange.
In May 2016 the company rebranded its coin exchange to Global Digital Asset Exchange [GDAX].
The customers benefit from the GDAX in such that unlike another forex platform; it provides its users with an intuitive interface where customers can view trade histories with the provision of charting tools and more control over their trading orders.
Currently, the company operates in the US, Europe, Canada, Australia, and Singapore availability of the company in the US is based on the states in which CoinBase is licensed to operate.
Here customers can only trade on the order books available in their countries based on compliance with the local regulations.
Do I Recommend GDAX BTC Exchange?
Based on my personal experience from the frequent use of the site I would say that it is the most trusted website to conduct currency and cryptos exchange online.
I would recommend the site to everybody who would like to conduct digital currency exchange since it is simple to navigate the site, as well as its integration with CoinBase which makes the transfer of funds a smooth and easy process.
Why couldn’t anyone want to experience such a simple process in asset exchange?
How to Use GDAX BTC Exchange
It is a requirement for all users to first register with CoinBase Inc. before they can be able to access GDAX.
The following are steps on how to use GDAX.
- Search for gdax.com/trade site once you have found it choose the pair of currency you wish to withdraw or deposit available on the “select product” menu.
- You can either select the withdrawal or deposit button on the top left of the site.
- Either select the BTC, ETH, or LTC address tap based on the kind of digital currency you would like to withdraw or deposit.
- Finally, entry of the external service address and the amount you would like to withdraw or deposit from your GDAX account should be made and wait for some time for your transaction to be complete.
Payment Method Supported By GDAX BTC
GDAX offers various flexible methods of payments to its users which ensures that the users get same-day deposits and withdrawals as long as the process is initiated before the bank’s daily cut-off time.
This payment method includes:
- Automated Clearing House [ACH] transfer of funds via the bank.
- Withdrawals and deposits in euros made via the Single Euro Payment Area [SEPA].
- Transfer of payments by wire of US dollars.
In addition to these, GDAX offers the Ethereum [ETH], Bitcoin [BTC], and Litecoin [LTC] Crypto coins provided over a wide range of currency pairs such as:
Fees Charge On GDAX BTC
The site operates in such a way that its fee structure is on the “maker-taker” basis where fees are assessed as the percentage of the currency quoted.
The various methods of payments provide varied fee structures. ACH has free withdrawals and deposits, while SEPA one makes deposits freely but pays 0.15 euros to withdraw.
US wire deposits, on the other hand, charges US$ 10 when deposits are made and US$25 when making withdrawals.
Customer Support On GDAX BTC Exchange
The site has a comprehensive frequently asked questions site that answers the many questions customers raise with each page having a “submit request” button where you can reach out to customer care who answers to concerns promptly.
The frequently asked questions by customers such as cancellation of orders where customers can annul the order they wish by clicking the “cancel” button.
Customers also seem to raise concerns on the issue of available balance being less than the total balance.
This is credited to the fact that open borders are always not part of the available balance.
Another concern addressed by the FAQ section is the question concerning the duration orders stay as pen orders.
It is clearly stated that all new orders remain as pen orders till all of your orders match other user’s orders.
GDAX BTC Exchange Contact Phone Number
GDAX Phone Support: +1 (855) 577-1727
Online Opinion on GDAX BTC Exchange
Most online customers have registered their satisfaction from the use of the site this is due to favorable rates coupled with reasonable fees as compared to other sites.
The customer support team never disappoints in answering queries raised by its customers.
How to Make Money with GDAX?
GDAX is a legit site where one can make money by buying assets during the low season at a lower price and selling it later at a high price in the high season making a profit.
Another way of making money on the site is by joining its affiliate programs where one can earn a commission on sales generated due to the marketing of the sold products.
What I Like About GDAX
- The site has a competitive fee structure compared to other sites making it the best site for use by all people despite their economic backgrounds.
- This website allows users to access the world’s leading cryptos making it the ultimate exchange site.
- The site is highly fluid meaning that there is the ease of doing business on the site.
Issues With GDAX.
- The site has fewer altcoins to choose from compared to other sites. This limits the customer experience on the site.
- The site is not ideal for beginners as it is rigorous and takes a lot of time before one master the art of making a profit on the site.
- The site is only limited to certain geographical areas making it unsuitable for customers to trade worldwide.
Who Is GDAX For?
GDAX is an online exchange company whose main function is to facilitate digital currency exchange.
Its target audience includes people who would like to exchange currencies as well as those who would like to buy cryptos online.
Just like fiat currencies, GDAX is traded against the US dollar.
Alternatives to GDAX
Other sites that operate pretty much in a similar way like GDAX include bitfinex, Kraken, stamp, Bittrex, polonix, exodus GitHub, and eToro.
Is GDAX Safe?
GDAX is safe for your use. The exchange is one of the best with a great reputation.
From experience on the site, I would say that the site is one of the legit and safest exchange sites that will facilitate the exchange of your currencies and cryptos.
I would totally recommend the site to other users since it is cheaper to conduct currency exchange on the site as compared to other sites.
The great news about GDAX is that customers have access to a wide variety of different cryptos to trade from.
Conclusion on How to Make Money with GDAX
Thanks for reading my GDAX review. Can you now make money with GDAX? Is GDAX safe to use?
What is my opinion? GDAX is safe and great to use. The problem with the crypto exchange platforms is that trading crypto and forex is very risky.
It is having been proven that most people lose their money, i.e., 98% of people will not make money trading crypto on any crypto exchange.
My best advice is to go for a significant investment in crypto. Buy and hold for years. You buy when it is cheap and hold for a long time before selling your holdings.
My best recommendation is to start your website, promoting cryptocurrency platforms and their products and services. That is the best way to make money with crypto without trading crypto itself.
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