GDAX is a cryptocurrency exchange platform owned by the well-known Coinbase exchange. It was created in 2012, but it was not until 2013 when it began to have more prominence in the market. Since then, this exchange stands out as one of the most complete in terms of cryptocurrency trading services.
One of its main features is that it offers a wide variety of digital currency pairs. In that case, we can highlight trading with Bitcoin, Ethereum and other popular cryptocurrencies, on FIAT currencies such as the EUR and the USD.
GDAX is headquartered in San Francisco (California) and it is also important to note that this exchange is secured and duly supported by some of the world’s leading investors such as: the New York Stock Exchange, Andreessen Horowitz, Union Square Ventures, etc.
It is safe to say that the GDAX system is quite simple and in a few simple steps, we can carry out all the operations we need.
GDAX is not only for experienced traders. We must point out that it does not matter if we are beginner traders, since the exchange will guide us step by step in everything we need to know to operate in cryptocurrencies.
Once we are inside GDAX, we find several drop-down tabs where we will be able to see all the cryptocurrencies available on this support. This company offers trading services using a large number of currency pairs. From the exchange platform we can operate with BTC/USD, ETH/USD, LTC/EUR, LTC/USD, ETH/BTC, LTC/BTC, BTC/GBP, and BTC/EUR, etc.
For professional traders, GDAX offers us the power to operate using leverage. As for the margins, for the BTC/USD and ETH/USD pairs, we can leverage up to x3 (up to a limit of $10,000) and in LTC/USD up to x2 (up to $500).
How safe is GDAX?
This exchange is presented as one of the safest of the moment because on a daily basis, it is subjected to different financial audits by rigorous organizations. On the other hand, GDAX keeps 98% of its clients’ funds off the Internet. The platform is backed by FDIC, an agency that insures user funds up to $250,000 per user.
All the data included in the system is divided creating a system known as redundancy. Subsequently, they are encrypted with AES-256 and then copied to FIPS-140 USB drives, in addition to creating backup copies.
The exchange has security features such as:
- Cold storage: copies and units are distributed in specific safes or safes, which are located in different parts of the world, something that makes cybercriminals more difficult to enter the system .
- Data encryption: GDAX works with SSL, one of the most important security systems that exists today. Thanks to SSL, all data entered into this system will be properly encrypted to prevent fraudulent activities.
Thanks to the use of the latest technologies, traders can easily access (through API’s) real-time data offered by GDAX. In addition, developers have their hands everything they need to create 100% secure trading applications.
The biggest concerns of investors lie in transaction fees, however, in GDAX we can enjoy one of the most economical exchange services on the web, since commissions are extremely low compared to other platforms.