Review 2020 – Scam or Not?

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GDax was aquired by Coinbase and is now Coinbae Pro.

Global Digital Asset Exchange or short GDAX is a trading platform launched by the Coinbase in May of 2016. GDAX was created to accommodate not only Bitcoin trading but trading in alternative currencies as well. The exchange is owned by the Coinbase Inc, which is based in San Francisco, California.

GDAX operates all around the world, with a focus on the International market.


Verification on GDAX

GDAX requires two level identity verification. The verification is necessary, and users are not allowed to place deposits or trade before the verification process is completed.

The verification process is straightforward, and it’s a bit different depending on the country.

For US users:

  • Photo of a state ID or driver’s license
    Passports are not accepted, because they don’t indicate the state of residence.
  • The residential address
  • Social Security number (SSN)

For UK users:

  • A photo of an ID card, driver’s license or Passport.
  • Answer to a couple of identity questions

For other users (Singapore, Australia, Canada and European countries):

  • A photo of an ID card, driver’s license or Passport.
  • Another photo of a different ID document.

Users who are already registered on Coinbase don’t have to create an account from scratch and can log in with their Coinbase credentials.

There are no limits when it comes to trading or deposits. There is a limit of 50,000 US dollars per week for withdrawals, but it’s not affected by the verification.

Currently, the exchange supports these FIAT currencies:

  1. USD
  2. EUR
  3. GBP

When it comes to digital currencies, there are three matching currencies available:

  1. Bitcoin (BTC)
  2. Ether (ETH)
  3. Litecoin (LTC)

Depending on the country, available trading pairs can vary:

  • Canada – ETH/BTC, LTC/BTC
  • Europe – BTC/EUR, ETH/BTC, LTC/BTC
  • The United Kingdom – BTC/GBP, ETH/BTC, LTC/BTC
  • Australia – ETH/BTC, LTC/BTC
  • Singapore – ETH/BTC, LTC/BTC

There are some additional rules which can be seen here.


The exchange’s fee model is a bit different than others, and it’s based on the percentage of monthly volume.

At the moment of the writing, GDAX had a 30-day volume of 211,487 BTC.

For users which traded a percentage of that volume in the last 30 days the fee schedule looks like this:

> 0 percent (~0 BTC) – 0.25 percent fee
> 1 percent (~2,114 BTC) – 0.24 percent fee
> 2.5 percent (~5,287 BTC) – 0.22 percent fee
> 5 percent (~10,574 BTC) – 0.19 percent fee
> 10 percent (~21,148 BTC) – 0.15 percent fee
> 10 percent (~42,297 BTC) – 0.10 percent fee

This fee schedule is based on taker fees. Maker fees are 0 percent. There’s also a rebate of 0.01 percent for the takers at the end of each day.

There are no fees for making deposits and withdrawals from GDAX account. Only bank fees apply in the case of Wire transfers. Trading Analysis

The exchange offers various order types, including many advanced order types. Basic orders are, of course, available – including market, limit or stop order. A market order is an order that’s executed immediately at the current market price.

When it comes to the limit orders, besides basic limit order there are several advanced types:

  • Good ‘Til Cancelled (GTC) – this order is placed on the order book and remains there until canceled by the user.
  • Immediate or Cancel (IOC) – this order is placed on the order book, and if it’s not immediately completed, it will be automatically canceled and removed from the order book.
  • Fill or Kill (FOC) – this order is going to be completed only in the case that the entire amount can be matched. Partial matches are not completed with this type of limit order.
  • Post Only – this is an option which makes sure that the order executes only as a maker order to avoid paying fees. If it encounters orders that result in taking liquidity rather than providing it, the order will automatically reject to execute them.

Stop orders allow users to prevent major losses that can come as a result of a price swing. There are Sell Stop and Buy Stop order.

The exchange doesn’t offer margin trading neither trading with futures or derivates.


Ease of Use

The interface looks great, and it’s very well adjusted to user needs. The trading is very simple, and the connection speed is good enough for real-time trading. Many features are just a click or two away, allowing users to easily use the interface. The trading platform doesn’t have apps for Android and iOS, but their website is responsive and looks good on mobile devices.


GDAX has a very extensive FAQ page and also offers ticket submission and email support. They usually answer within 48 hours. The support can be a bit “shallow” sometimes and only partially resolve the problem, which can result in waiting for another 48 hours to completely resolve the issue.

User experience

Since this is a new exchange, there are no complaints so far, but many users have complained about the Coinbase, the founding company of GDAX.

Security on GDAX exchange

GDAX is very well secured exchange. The company holds less than 2 percent of the customer funds in hot wallet, while the rest is secured in cold storage with encryptions and multisig keys.

There’s two-factor authentication, and PGP encryption is used in email communication.

Email and SMS alerts are available too.

The exchange is relatively new, so there are no posts about the hacks online.

GDAX Review Conclusion

GDAX is a new name for an old exchange.


  • Good liquidity
  • Competitive fees
  • International market


  • Owned by Coinbase which is known for lack of privacy
  • Support could be way better

Overall, a fresh start for Coinbase which reputation suffered a lot in last year or two. Great exchange, especially for beginners.


Do you have good or bad experiences with this Bitcoin Exchange? Please share them!

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12 User-Reviews for
  1. Bob S, 30. May 2018

    I have had NO problems with transferring cash from coinbase to GDAX. No problem placing limited orders on GDAX for coins that coinbase supports and that is with NO fees. Then transferring the coins back to coinbase from GDAX.

    Support from them is a bad experience. But use them to buy the coinbase coins for no fees and transfer those coins back to coinbase.

  2. Dino, 22. January 2018

    They froze my account and money for no reason, and now they don’t write back my emails. I hope they give me back my money ASAP!!!
    It could probably be a scam.

  3. John, 6. January 2018

    Zero customer support. Don’t expect anyone to answer their support phone number and expect a month between any kind of email exchage. There are far better ways to invest in Cryptocurrency than through this immature kluge…

  4. Michael Stern, 6. January 2018

    Anything written here about great efficiency and responsiveness of this company in the article above is bogus. I very meticulously submitted business class application over two weeks ago and I’m repeatedly told with a bot screen that the application is being reviewed and that they will ‘get back with me shortly’. And, forget about writing a short note to staff based on one inquiry option GDAX says is available. No response after 4 days (and counting). To me, it is unethical for a company to solicit new business when they have no ability to effectively manage the inflow of that business?

  5. Will H, 15. December 2017

    I’ve been trading and in the crypto currency space for years, I would highly recommend you look elsewhere to start trading cryptos. The exchange is constantly lagging, bank transfers take close to a millennium to go through, and worst of all, if you’re planning on trading have fun being manipulated by trading bots and alogorithms which are built to fake out orders on the order book so you hold and lose, or sell and get left out. Their limit buy/sell system is absolute garbage, they won’t let you get in or out at the price you want, but they’ll let others in front of you thus fucking your position. These algos are also built to snipe your stop buy/sell orders in case you want to have a life for 5 minutes and stop watching the market. If you set you buy order at a break out point, the algo trading bots will push all the way up to your order, snag it and then tank. Conversely if you set your stop sell order at a low resistance point, they will push down to trigger your order and then leave you in the cold for a bull run. Happens every single hour of every day.

  6. jorge fernandez, 8. December 2017

    I´ve lost 0.04 BTC from a non filled order that have just “disappeared”, and GDAX´s customer care is not even answering. Highly unrecommendable exchange

  7. Terry, 9. September 2017

    2.5 or 5 stars A true lack of honesty and transparency!

  8. Terry, 9. September 2017

    MANIPULATED order flow and they keep the price $100 above the core market, I spent many years trading the stock market their order and price fluctuation – lack there of – flow is OUTRAGEOUS!!!

    THEY need to be REGULATED!

  9. Xiaolei Jin, 30. August 2017


    My first purchase was duplicated, so instead of investing 1000€ I had 2000€.

    Then they sold automatically my ETHs when arrived to 700€… Surprise! I tried to buy back, but then said I have no EURs…

    When I complained they blocked my account, and after several weeks, they reactivated it and magically is working now. Of course, ETH raised and I lost most of my money…

    A completely scam. BTW they are the same as Coinbase.

  10. trader, 7. July 2017

    GDAX keeps crashing everytime there is high volume and there is no phone number to call in. Get your shit straight

  11. Allen, 20. June 2017

    Worst customer service ever. Have been trying for weeks to setup an account and have not had any luck.. The system doesn’t like the address that i am providing however it is the same address that i used for coinbase and it worked. No one has contacted me i just get blanket emails that are f no help. I have a lot of money to invest and they just dont care.

  12. Richard gagne, 12. May 2017

    I am having a bad experience with Poloniex… can’t login …. try several times to contact support… can’t talk with anyone…. except a “robot” email message that is irrelevant to my login problem…