GDAX is really the exchange platform for the U.S. based company Coinbase. The relationship is so close that the GDAX registration page is actually a Coinbase URL and registration page. In fact, they are the same company. See my previous post for specific information regarding Coinbase. With GDAX, direct deposits can be made via SEPA or ACH bank transfers, wire transfers, direct BTC transfers, or transfers from your Coinbase account, depending on your preferences and where you are located.
With a few exceptions, GDAX currently operates in the US, Europe, UK, Canada, Australia and Singapore. As well as offering USD and EUR trading for BTC, BCH, ETH and LTC, there is also a BTC/GBP trading pair.
Moving funds back and forth from Coinbase to GDAX is free, so preexisting Coinbase customers can move funds from their Coinbase accounts to GDAX without charge. The fee for direct SEPA deposits is €0.15, and ACH deposits are free (wire transfers have additional costs). Once you have Euros or USD in your account, given the GDAX “maker-taker fee model”, you can make your purchase paying absolutely nothing if you act as a “maker”, and a maximum of .25% if you are a “taker”.
GDAX is directly tied to Coinbase and as such users have the option to send funds to their Coinbase wallets, as mentioned above, free of charge, and this includes the use of the BTC “vault”. As mentioned in the FAQ regarding insured deposits, all online funds are insured, and US customers even have FDIC insurance.
Account creation requires full verification, but that’s not surprising given its full service nature.
For answers to specific questions, visit GDAX Support
Previous posts in this series:
HowTo Buy Crypto – Part 1: LiteBit
HowTo Buy Crypto – Part 2: Coinbase
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