GDAX and Coinbase constitute some of the best cryptocurrency exchange platforms in the world today. Although they both are from the same parent company, they are entirely separate entities designed to serve different traders and investors.
When comparing GDAX and Coinbase we must consider various parameters, features and specifications in order to determine which is best suited to cater for your needs.
PART 1: What is the main difference? GDAX VS Coinbase
GDAX has been specifically created to cater for the most experienced and professional crypto traders. On the other hand, Coinbase is meant for crypto beginners and retail traders starting off their investment journey in the cryptocurrency arena.
PART 2: GDAX VS Coinbase in terms of trading efficiency. Which outdoes the other?
We will look at this in the following aspects:
The cryptocurrencies the platforms support By the virtue that the two platforms belong to the same parent company, they support similar cryptocurrencies namely Etherium, Bitcoin and Litecoin.
The flat currencies supported They both support the following primary currencies:
- US Dollar
- Euro (EUR)
- British Pound (GBP)
The various countries supported Coinbase is only available in the following 32 countries globally. In contrast GDAX is available in most countries all over the world though most suitable for the UK, US and EU member states. You can check out the list on this page
Trading charges Fee charged is one of the major differences between the exchange platforms. Coinbase charges a transaction fee of 3.75%. The withdrawal fee depends on various parameters such as your location and the withdrawal method used. It varies from 1.49% to 3.99%. Looking at GDAX, the transaction fee is almost negligible to be compared with Coinbase. The maker fee stands at 0% while the taker fee lingers around 0.1% to 0.25%. You can access further statistics on GDAX fees online.
Buying limits For Coinbase there is a weekly transaction limit of $50,000 for the US or EU verified traders. In contrast GDAX allows an individual trader to withdraw up to $10,000 per day. Moreover, corporates can extend to withdraw up to $50,000 in one day. On the crypto trading there is a set minimum limit of 0.01, ETH, LTC or BTC.
PART 3: GDAX and Coinbase which is more dependable?
We will answer this question from the following contexts:
Company background: Coinbase is without a doubt phenomenal in as far as cryptocurrency exchange is pertained. It’s a very trusted crypto exchange platform throughout the globe. On the other hand, GDAX is a direct spin-off of Coinbase. On these grounds the platforms score a tie on this.
Security: First and foremost both GDAX and Coinbase are legal certified platforms that operate under strict conformity to the Federal laws of the United States. Moreover none of them has ever been hacked. Security is therefore top notch.
Reputation: Coinbase is miles ahead more popular than GDAX.
Customer Support: On this one, both GDAX and Coinbase deserve credit for their customer support services. From the large number of thoroughly answered FAQs to the customer support email ticketing system their efficiency is surely unparalleled.
PART 4: GDAX VS Coinbase Final Verdict
So far so good, Coinbase and GDAX are two brothers with many similarities. The main differences arise in transaction fees and structural make up. We can easily deduce that Coinbase is much more user friendly compared to GDAX which is a bit complex. As such, it’s vividly clear that beginners ought to start with Coinbase while the experts are good to go with GDAX.
To get the big picture I heavily recommend that you review a detailed guide for both Coinbase and GDAX in order to get to understand all the ins and outs of the platforms. You can also get 10 USD of BTC by using this Coinbase Promo Code.
Certainly, this article will go a long way in preparing you as you begin your journey into the crypto world.
Read more about Coinbase comparison: