If you’re interested in cryptocurrencies, you’ll need a reliable, high-end crypto exchange platform eventually. Finding one isn’t as difficult as it used to be! But what if you’ve picked a couple and can’t decide between them? So, in this Bittrex vs GDAX comparison, we’ll look at the two best alternatives!
When debating Bittrex vs GDAX, you’ve likely done your homework! Choosing one in such a situation might be tricky.
But don’t worry, I’m here to assist! Foremost, we’ll look at some of the most important qualities that every high-tier exchange should have. Then, we’ll compare Bittrex VS GDAX to find which platform is better for you!
Criteria for comparing Bittrex vs GDAX
For Bittrex VS GDAX comparison, the first thing we need to do is examine the real comparison criteria. The fundamental elements that we’ll be using as reference points throughout this post.
Now, I recognize various people will have different cryptocurrency exchange preferences. However, several features should ALWAYS be available in a top-tier exchange platform. This is exactly what we’ll be referring to in our GDAX VS Bittrex comparison!
So, we’ll look at five features: security, the convenience of usage, feels, supported currency count, and user count. Allow me to expand briefly on each of the points.
The most critical feature of any bitcoin trading platform is security. An exchange may have low fees, a large user base, and be open around the clock, but if it lacks security, we should avoid it at all costs. It makes perfect sense! If the platform’s security is poor and you’ve placed your cryptocurrencies on it, there’s a reasonable risk that you will lose all of your money.
In conclusion, whether it is this Bittrex vs GDAX comparison or any other, always pay particular attention to a platform’s security features!
With time, an increasing number of newcomers enter the cryptocurrency sector and express their desire to trade and exchange bitcoin. Because there are so many beginners, crypto exchange providers strive to make their interfaces and trading operations as easy to use as possible. However, not all sites are effective in doing so; there are many exchanges out there that are only fit for experienced crypto traders!
So, regardless of your skill level, the convenience of use is a crucial consideration. Certainly an essential consideration in our Bittrex vs. GDAX comparison.
If you’re serious about trading cryptocurrencies, you’ll want to pay close attention to the costs charged by each of the main crypto trading platforms. That’s simply because, to optimize your prospective earnings, you’ll need to look for the lowest trading costs available! This is especially true for experienced cryptocurrency traders, which is why all the top-rated cryptocurrency exchanges seek to deliver the lowest possible costs to their consumers.
If this is essential to you, be sure to pay great attention to this point in the Bittrex vs GDAX comparison!
4. Supported Coin Count
A high-end cryptocurrency exchange platform would often have many various cryptocurrencies accessible for its consumers to trade and swap. Most of the time – there are exceptions, but with the interest in cryptocurrency expanding over the years, it has become nearly obligatory for organizations to provide a larger range of coins, rather than simply the most popular ones.
That’s an important factor to remember, and we’ll keep it in mind during this Bittrex vs GDAX comparison.
5. The number of users
When comparing two distinct crypto trading platforms, such as Bittrex vs GDAX, active user count is one of the most intriguing elements to consider. It has the potential to provide a wealth of helpful information about the platform! Foremost, it provides an idea of how active trading is on the platform. To be honest, some cryptocurrency exchange platforms are nearly empty – there aren’t many deals going on, and you could have to wait a long time if you want to buy or sell some coins at a specified price.
However, the number of users on various platforms might also show the site’s dependability. So, while there are several additional qualities to consider when selecting the best cryptocurrency exchange platform for yourself, you should always look at and evaluate the ones described above.
With that stated, let us proceed to the Bittrex vs GDAX comparison.
The Battle of Bittrex vs GDAX
To make things as simple as possible, we’ll compare Bittrex VS GDAX using the previously listed features in the same sequence. So, using that reasoning, let’s start with security.
With crypto exchanges, security is a highly worrisome matter. This is because most bitcoin fans are extremely concerned about even minor security issues. And they should be since your crypto assets are at stake! Thankfully, you won’t have to worry about it with either of the two exchanges featured in our Bittrex vs GDAX comparison – both platforms offer some of the best security measures in the market!
GDAX and Bittrex, for example, hold the vast majority of their consumers’ crypto assets in offline, cold storage devices. While Bittrex holds between 80% and 90% of its assets on these devices, GDAX may keep up to 98 percent of its cryptocurrencies in hardware devices.
Furthermore, the remaining coins stored online in so-called “hot wallets” are safe, so if something were to happen to them, they would pay for your losses. All of this is besides certain other, more general security measures available on both platforms, such as two-factor authentication, bespoke PINs, and so on. In terms of security, it’s a tie between Bittrex vs GDAX–both exchanges are simply incredible.
You’ve probably heard the expression “simplicity is the key”. Cryptocurrency exchanges are excellent instances of this.
A crypto exchange that is extremely difficult to use may not seem like a major deal to an experienced trader who has been active in the cryptocurrency markets for many years. However, such people are in the minority – the great majority of people who frequent crypto exchange sites aren’t specialists in the area.
In his opinion, the “ideal standard” for a cryptocurrency exchange is to be both simple and pleasurable to use while still providing all the basic capabilities that any high-end platform should have. Naturally, this is difficult to do; yet, some exchanges do keep this quality!
What about the Bittrex vs GDAX controversy? Do these two sites come into the category of exchanges that are easy and enjoyable to use?
Yes, both GDAX and Bittrex are quite plain to use.
Both platforms’ user interfaces are simple to use, and – more crucially neither Bittrex nor GDAX overburdens their consumers with unnecessary, sophisticated tools.
The fees charged by the two Bittrex VS GDAX systems are pretty basic. With Bittrex, withdrawal fees can range from 0.2% to 2%, depending on the amount, frequency, crypto asset, and so on. That’s rather nice – it’s one of the market’s minimal costs! Trading costs on the platform are similar at the 0.2% level.
GDAX, on the other hand, is a little more complex. There are several “takers” and “maker” components involved – for example, a “maker” may have 0 percent fees while a “taker” may have to pay up to 0.3 percent. The usual range of taxes for Bittrex vs GDAX is up to 0.5% – a little more than Bittrex, but not by much.
Overall, both Bittrex and GDAX have reasonable costs, regardless of whether you want to trade a few crypto assets or go large!
3. Supported Coin Count
While the taxes Bittrex VS GDAX are undoubtedly a “hot subject” between the two platforms, the currency count supported by each site is also rather essential! This factor will show how many crypto assets you will trade on the platforms. It’s especially handy for those who wish to have a diverse portfolio of cryptocurrencies and trade them all in a single, trustworthy exchange.
Bittrex offers over 220 coins for trading and exchanging. That’s many people! It’s a little more challenging with GDAX, but the exchange offers roughly 30-40 different cryptocurrencies and has a large pool of trade pairings accessible.
In conclusion, Bittrex takes the lead here – if you want to trade a large range of cryptocurrencies, Bittrex is the way to go.
4. Number of Users
An active user count may reveal a lot about a cryptocurrency trading site!
For starters, if such a platform has numerous active users, you can be confident that it has taken all necessary precautions to guarantee that security and convenience of use are top priorities. I mean, if the site wasn’t safe or too difficult to use, it wouldn’t have a large user base, would it?
Furthermore, a high user count can assure some active trading chances! It typically shows that the exchange’s markets are thriving and that there are regular deals and swaps taking place. Things are a little tricky to compare between Bittrex and GDAX. Not so with Bittrex, which has about 500,000 active users. That isn’t too awful! Although it is far smaller than most other high-end crypto exchanges, the site has a sizable user base.
The problems here begin with GDAX. That’s because when you sign up for a Coinbase account, you’re also instantly enrolled for GDAX – by that reasoning, the exchange would have about 13 million members! However, only a small percentage of them use GDAX; the rest mostly uses Coinbase.
So, having stated that, which of the two GDAX vs Bittrex bitcoin exchange systems is the superior alternative?
While it’s a hard decision, most individuals would like to use Bittrex!
While GDAX has a lot to offer its customers, some may find it a little perplexing – the site itself focuses on more-professional crypto traders. GDAX is easy to use, there are some technicalities involved – with Bittrex, on the other hand, you will not have any problems.
A decent user base, a diverse assortment of cryptocurrencies, ease of use, and exceptional security make this a fantastic crypto exchange solution! Even with taxation, Bittrex vs GDAX is the superior choice!
Having said that, I hope this comparison was helpful to you and that you could make the proper decision.