Do you want to know the difference between GDAX vs Coinbase if you want to start buying, selling, or trading cryptocurrencies? Sit tight because I will deconstruct the two in detail to help you determine which one you like! GDAX has stated that it would rebrand to ‘Coinbase Pro.’ I’ll call it GDAX to avoid confusion! In my GDAX VS Coinbase comparison, I will first provide a brief history of the platforms and explain what they perform.
I will then compare Coinbase with GDAX pricing, features, accepted payment methods, currency availability, and security. So, what are you holding out for? The first section of my GDAX vs Coinbase comparison will look at who Coinbase is and how it got founded.
Fees & Payment Methods for GDAX vs Coinbase
Let’s begin by establishing their distinct distinctions by examining their fees and payment methods, starting with Coinbase’s.
One of the most significant advantages of utilizing Coinbase is the ability to deposit funds using real-world fiat cash. If you live in Australia, Canada, Singapore, the United States, or the majority of European countries, you can fund your account using a debit/credit card or a bank account. According to my Coinbase VS GDAX comparison, you must first complete a KYC procedure, which asks you to identify yourself. You will have to give personal information (such as your name, address, and nationality), which you must verify by uploading a copy of your national identity card. After that, you’ll be able to make a deposit.
The average Coinbase costs are 3.99 percent if you fill your account with a debit or credit card. Although this may appear to be costly, the platform must do so to protect itself against a chargeback or fraudulent conduct. It is also possible to deposit via a bank account, with fees varying based on the manner of transfer. Coinbase now allows you to make a deposit using a cryptocurrency. The only fee you will have to pay if you do this is the blockchain transaction fee.
You may withdraw your cash using real-world payment methods as well. Again, this depends on your bank account, with SEPA costing $0.15 and a regular wire transfer costing $25. You may also withdraw funds from Coinbase using PayPal at a fixed fee of 3.99 percent.
GDAX, like Coinbase, allows consumers to deposit funds in real-world fiat currencies. They only support bank accounts, though. As a result, if you wish to utilize a debit or credit card, you must first deposit into Coinbase before transferring funds to GDAX! GDAX charges the exact fees for bank account deposits and withdrawals as Coinbase. Furthermore, GDAX does not charge a cost to deposit or withdraw cryptocurrencies; instead, you must pay the blockchain fee. Regarding trading, GDAX commissions are among the lowest in the business. It can be a little perplexing, so let me explain how it works.
GDAX is ideal for market makers because there are no trading expenses! If you are a taker, though, you will pay 0.30 percent. If you are a heavyweight trader who purchases or sells more than $10 million in bitcoin in a single month, this charge is 0.20 percent. Anyone who trades more than $100 million monthly can lower this to 0.10 percent, which is ideal for institutional investors. So, now that I’ve discussed the GDAX VS Coinbase costs, the following section of my GDAX VS Coinbase guide will look at their features and user-friendliness.
GDAX vs Coinbase: Features and Usability
Coinbase is ideal for those new to cryptocurrency since it allows you to acquire cryptocurrencies using traditional payment methods. As a result, the platform is most likely the most user-friendly available!
GDAX, on the other hand, provides a lot more to its customers. According to my Coinbase VS GDAX comparison, customers may purchase and sell coins in various methods, including margin, limit, and stop orders. If you’re unsure what these ph