GDAX is made for a professional trader who’s active. When opposed to the Coinbase that includes higher fees for the trades, the gdax allows the users to streamline their trades as well as avoid incurring very high fees. The GDAX was earlier known as the Coinbase Exchange, however was renamed in the year 2016. This might still cause some confusion for a few potential Coinbase users. There are two products associated with the Coinbase: one Coinbase itself is the exchange catering to the consumers to facilitate simple transactions as well as to help the store digital assets. The GDAX is only for the professionals.
Looking at the Safety
Security is one major concern for digital currency exchanges, GDAX is of no difference. Considering it focuses on the user base of the professional traders, safety is very important. As per GDAX website, exchange will be subject to the regular IT security as well as financial audits. There are some 98 percent of the digital assets for the customers are entirely stored offline in what’s called as the “cold storage,” and ensuring that these assets will be protected in best possible way from the hacks or theft. More, GDAX provides users peace of mind, which comes in working with the insured exchange. USD balances on the GDAX will be covered by the FDIC insurance, with the maximum coverage of over $250,000 every customer.
GDAX presents as the exchange that actually enjoys the high trust levels from the users. One main reason is support it has received from the top investors such as NY Stock Exchange, the venture capital company and others. Besides that, GDAX provides no fees on the maker trades, and volume-based discounts to all taker fees. The fees will dip to 0.1% in a few cases.