Coinbase and GDAX are two separate exchanges but connected products, owned by the same company, Coinbase. They use the same back-end and are both insured and backed by some of the biggest players in the finance world such as the New York Stock Exchange, Union Square Ventures, and Andreessen Horowitz.
- GDAX is a full-fledged cryptocurrency exchange, allowing users to trade BTC, ETH and LTC as well as USD, GBP and EUR fiat currencies. Real-time market data to see most up-to-date crypto prices.
- Flexible API allows for secure and programmatic trading bots. This is a big reason many institutional and professional investors prefer GDAX.
- Users can place Market Orders, Limit Orders, Stop Orders and Margin Orders.
- Deposits/withdrawals can be made using bank transfers, bank wires or using cryptocurrencies
Fees are low compared to Coinbase.
- 98% of their users’ funds off the Internet in cold storage and regular IT security checks and financial audits are held.
Account Opening Complete the sign up form and confirm the verification link sent to your email address. After verifying your email address, provide a phone number. Please note that to trade on GDAX, you first need to be a Coinbase user. Sign in using your Coinbase.com email address and password. If you have already verified a phone number with Coinbase, then you will be prompted to enter the Coinbase 2-Step Verification code. If you have not yet verified a phone number, then you will be asked to enter one. You may be asked to verify your identity, depending on what verifications you have previously completed in your Coinbase account.
If GDAX supports trading with your region’s local currency (currently USD, GBP, or EUR), then you will have the option to link your bank and fund your trading account. Alternately, you can skip this step and fund your account with BTC or ETH. You can deposit funds directly into GDAX, or you can deposit them into Coinbase (in your USD wallet) and then move them over to GDAX. You can also deposit Bitcoin, Litecoin, or Ethereum from Coinbase into GDAX and move back and forth. Once funds are available in GDAX, you can start placing orders.