Financial Planning

How to Transfer a Bitcoin from Coinbase to GDAX

About Coinbase

Coinbase is a digital currency exchange broker launched in 2012 in San Francisco, California USA. The platform provides a simple coin exchange mechanism and supports popular payment methods such as bank cards, transfers and even PayPal.

Web resource was developed by partners Brian Armstrong, Fred Ersam and Ben Reeves. They wanted to implement the idea to create an “open financial system for the whole world”.

Coinbase is an online cryptocurrency broker, not an exchange. You cannot trade cryptocurrencies on the platform. It is focused on helping to convert fiat currency to cryptocurrency. Exchange services are offered by another company service – Coinbase PRO.

The Coinbase team serving nearly 30 million customers since 2012 and have sold over $ 150 billion in currencies during its existence. One of the company’s products, the Coinbase PRO exchange, is in the TOP-100 of the best cryptocurrency exchanges in terms of trade volume.

The scale of the platform is also demonstrated by its international expansion – it is supported in more than 100 countries: African countries, India, Indonesia, Korea, Australia, New Zealand, most of the European Union, Portugal, Great Britain, Canada, Costa Rica, Guatemala, Jamaica, Mexico, Panama, USA, Argentina, Brazil, Chile, Colombia, Paraguay, Peru, Uruguay, etc.

Countries which are not included in the list of partner countries of the broker (such as Russia, Ukraine, Belarus) cannot pass verification and buy cryptocurrency using the service. What they can do? They have access to the platform’s internal wallet and the right to send and receive coins to the storage address.

Coinbase supports 23 types of digital coins, including: Bitcoin (BTC); Ethereum (ETH); Ripple (XRP); Litecoin (LTC); Bitcoin Cash (BCH); EOS (EOS); Stellar Lumens (XLM); Cosmos (Atom); Dash (DASH); Chainlink (LINK). Also on the site you can work with fiat: dollar, euro and pound.

About GDAX

If Coinbase was created to conduct fast transactions with cryptocurrencies, then GDAX is a full-fledged exchange for trading cryptocurrencies. GDAX cryptocurrency stands for Global Digital Asset Exchange which was created in 2016 by Coinbase.

To develop this project, Coinbase attracted several companies that acted as investors. These companies include the New York Stock Exchange, and the two investment funds Andreessen Horowitz and Union Square Ventures. The result of this collaboration was the GDAX exchange.

Registration on GDAX

To start working on GDAX, you need to register. You need to provide the following data: – Name and Surname; – E-mail address; – Password.

After registration you have to verify your account.  Account verification is one of the most important aspects of working with companies operating in America. That is why you will not be able to use the services of this site if you are not a resident of a certain number of countries.

How do you know if you can trade on GDAX?

It’s simple, go through the first part of registration, and at the time of verification, you will receive a notification. When verifying your account, you will need to indicate your name and surname, date of birth, place of registration, zip code, and also indicate the source of income. The region from which you enter the exchange, the resource will determine itself and draw the appropriate conclusions.

Speaking of trading on GDAX, it is worth noting once again that it is an American exchange that is highly regulated.

There are several aspects that are both disadvantages and advantages for GDAX – this is tight regulation.

It acts as a disadvantage in the case when users cannot register on it. Advantage – it is security for all GDAX traders, due to the US Securities Commission’s control over GDAX.

GDAX Rebrand to Coinbase Pro

In 2018 GDAX changed its name to Coinbase Pro. All early available features are available. New services will be included, such as protocol, staking voting and additional tokens. Although it will make possible to deposit and withdraw funds even faster and easier.

Transfer BTC from Coinbase to GDAX

bitcoin

In order to transfer BTC from Coinbase to GDAX, first you need to open an account in Coinbase.

To do that, you need to register, then confirm your  identity by verifying with range of personal information (name, surname, address etc. ) and after you need to upload your passport.

Now when you have your Coinbase account with coins in it. In order to transfer Bitcoin from Coinbase to GDAX

first you have to login to Coinbase pro (remember GDAX replaced by Coinbase Pro)

next step, click on the deposit (bottom of the page).  You will need to decide with digital currency you want to transfer, in our case Bitcoin. Keep in mind that here you can transfer fiat currency as well.

As you are looking to trade USD with BTC, and going to transfer your USD balance from Coinbase to GDAX (Coinbase Pro).

Finally, click on Deposit (blue button) to finish your transfer from Coinbase to Coinbase Pro (GDAX). After doing so, your account will be funded in few seconds.

That`s it. Guide presented above is enough to help you with transferring  from Coinbase to GDAX

Also see: Best Time Of The Day To Buy Bitcoin

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