Topic: Gdax is too complicated? (Read 123 times)
Coinbase and GDAX are linked. They are both very secured exchanges. Coinbase/GDAX is only one of two US exchanges (along with Gemini) that are fdic insured. That should give you a peace of mind when you have your money with them. That said, I do not find gdax complicated at all. If you have had any experience buying stocks and funds through brokers like e-trade or scottrade, you should feel right at home with gdax. I do recommend using gdax to buy/sell your cryptos because the fees are extremely low. You can even trade with zero fees if you use limit orders instead of market orders. Coinbase has extremely high fees. Way too high. Only drawback with gdax is that they only support a limited number of coins (btc, eth, bth, and ltc).
Well, GDAX is more complicated and Coinbase is a good way to get your feet through the door, but GDAX has lower fees. So if you find yourself exchanging frequently, Coinbase isn't the place to stay.
Some say that gdax is too complicated and I should stick to coinbase for trading to fiat money.
Why is gdax complicated? Someone that uses could help me please, my concern if it is safe as well.
Why is gdax complicated? Someone that uses could help me please, my concern if it is safe as well.
it's not complicated at all. because of the high fees on coinbase, i highly recommend GDAX.
it has a different interface than coinbase and allows limit orders and stop losses---that's about it. if you want to market buy or market sell like on coinbase, you can. it only costs 0.25% fees instead of coinbase's 1.5% fees. and you can use limit orders (orders that stay on the book until somebody fills them) with 0% fees. they offer free BTC withdrawals too.
coinbase is very simple and you don't need to worry about your order getting filled---they get automatically filled. for that privilege (and the convenience of direct buys from your bank account rather than depositing, transferring and setting orders), you pay ~1.5-4%. screw that! you can just transfer directly from your coinbase to GDAX account, set orders, and avoid those fees.
GDAX/Coinbase has never been hacked. It's about as safe as anywhere can be I'd imagine.
GDAX is for trading. Coinbase is purely for buying or selling. The two activities are very different. If all you want to do is convert then stick with Coinbase if you don't mind the fees.
If GDAX didn't have the features it has it would be abandoned. Proper traders demand a huge amount of features to facilitate their activities. It may seem incomprehensible to you but it's all there for a reason and demanded by their customers.
GDAX is for trading. Coinbase is purely for buying or selling. The two activities are very different. If all you want to do is convert then stick with Coinbase if you don't mind the fees.
If GDAX didn't have the features it has it would be abandoned. Proper traders demand a huge amount of features to facilitate their activities. It may seem incomprehensible to you but it's all there for a reason and demanded by their customers.
1) GDAX is not complicated.
2) I don't think you can find an exchange more poorly suited for currency trading than Coinbase.
2) I don't think you can find an exchange more poorly suited for currency trading than Coinbase.
I don't think it is. It also has way lower fees and no BTC withdrawal fees than Coinbase's. So, learning how to use it is worth it.
This video[1] of 5 minutes shows how simple it is to use GDAX and save money on fees.
[1] https://www.youtube.com/watch?v=O-5ISrdeWtQ
This video[1] of 5 minutes shows how simple it is to use GDAX and save money on fees.
[1] https://www.youtube.com/watch?v=O-5ISrdeWtQ
People say exchanges like gdax is complicated because they don't like working with charts and graphs. It all comes down to personal preference. Usually with exchanges like gdax you could get more money out of your crypto as you can set your own offers.
It should be safe enough. But never leave huge amounts of crypto on exchanges. Always withdraw them after transactions.
It should be safe enough. But never leave huge amounts of crypto on exchanges. Always withdraw them after transactions.
Some say that gdax is too complicated and I should stick to coinbase for trading to fiat money.
Why is gdax complicated? Someone that uses could help me please, my concern if it is safe as well.
Why is gdax complicated? Someone that uses could help me please, my concern if it is safe as well.
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