We present a step-by-step image guide on How to buy Bitcoin, on GDAX which is a part of Coinbase.
Why GDAX? After you get your funds on Coinbase, the % of fees that it puts on each of your purchase and sale would not be a problem if you are trading instead of just holding. If you are buying and selling regularly on Coinbase, this fee could actually be of a concern as it starts cutting your profits or even losses.
GDAX (Global Digital Assets Exchange), allows you to trade different pairs according to the country you are trading from.
Please follow the below-mentioned steps to understand how to register on to the GDAX exchange to begin trading.
Two-factor authentication (also known as 2FA) is a type (subset) of multi-factor authentication.
Coinbase Pro has a long history of leading the world of cryptocurrency exchanges, although it went by the name GDAX until recently. As the current name implies, Coinbase Pro is the version of Coinbase filled with features that advanced traders will appreciate, including more detailed charts and graphs and trading options.
Coinbase Pro prides itself on being the most trusted platform designed to trade cryptocurrency, as it is backed by a large and well established company with insurance in place provided by FDIC insurance for their Coinbase USD Wallet of up to $250,000 and is also registered with FinCEN as a Money Services Business.
Since Coinbase Pro is the part of Coinbase designed for professional traders, this more advanced platform is just as reputable as the regular Coinbase exchange.
On May 23,2 017, Coinbase rebranded its GDAX exchange- Global Digital Asset Exchange to Coinbase Pro. The service is still a product that caters towards institutional and professional investors. The main focus behind the rebranding was to have the complete suite of products at Coinbase under the brand name that is trusted by millions of customers.
GDAX offers a wide variety of digital currency trading pairs, including bitcoin, Ethereum, and other major cryptocurrencies over popular fiat currencies like the USD, GBP and EUR.
The company is insured and backed by some of the biggest investors in the industry – like the New York Stock Exchange, Andreessen Horowitz, and Union Square Ventures.
This doesn’t mean that Coinbase has rebranded its entire business.
We may receive compensation when you use Coinbase Pro.
This post contains affiliate links.
Buying Bitcoin for the first time can be confusing – that’s why Coinbase was created.
It’s a simple platform, designed for ease of use and simplicity.
Most people will use Coinbase when they buy for the first time.
Unfortunately, they charge a fee for that convenience.
Coinbase charges 1.49% on all transactions made with a bank account, and 3.99% for debit/credit cards – these expenses will add up quickly, especially if you are trading often.
The Global Digital Asset Exchange, more commonly known as Coinbase Pro, is one of the most popular cryptocurrency exchange platforms. Coinbase also owns Coinbase Pro, but it is not meant for beginners.
Coinbase Pro is a superb alternative for more experienced crypto traders.