Coinbase Pro review
Last Updated on by BBE Research Team
So what is Coinbase Pro (GDAX)? The Global Digital Asset Exchange was launched in the spring of 2016 the platform has been rebranded in 2018. In fact, this exchange is the sister of the popular Coinbase platform and their owner is the same person. The main office is in San Francisco.
While Coinbase is an exchange that is suitable for beginners, Coinbase Pro (GDAX) is aimed at advanced and professional users. The exchange quickly hit the top, as among its large investors the NYSE, the Venture Capital Fund of Andreessen Horowitz, and Union Square Ventures.
There was information about Coinbase Pro (GDAX) down. Most likely, it was an agreed DDOS-attack on the exchange to create a panic in thin liquidity. However, the platform quickly restored its capacity and still retains it. After becoming Coinbase Pro, the platform hasn’t been hacked.
Another unpleasant incident occurred in June 2017, because of which the cost of the Ethereum dropped from $ 317 to 10 cents. Coinbase Pro (GDAX) support has fairly incurred responsibility and restored all loss from its own funds. That is the reason to consider that there isn’t Coinbase Pro (GDAX) fraud.
How to use Coinbase Pro (GDAX)?
To get started with the exchange you will need Coinbase Pro (GDAX) login. As you may know from other Coinbase Pro (GDAX) review, if you already have an account on Coinbase you automatically have it on Coinbase Pro (GDAX) with the same login data. If it isn’t, the registration procedure will not cause you any problems. In fact, if you have an account on Coinbase, you can consider yourself registered. In such a case you only need to log in.
If you do not have an account on Coinbase its necessary to indicate your name and surname, email, come up with a password of at least 8 characters and agree with the point about age and politics.
At this stage, you will receive an email with a button suggesting to verify your email adress. Click on it and you will be redirected to the Coinbase Pro page.
So, now you have reached the stage of verifying your phone number. After indicating it in the relevant gap, you will receive the seven digit confirmation code. Enter it and click Submit.
For further verification it will be necessary to indicate:
- Date of birth;
- Address of residence;
- Source of funds;
- The purpuse of using coinbase;
- Post code;
- Currency occupation;
- Your employer
Next, download the ID scans. If trading on the exchange is not available for your region, you won’t be able to complete verification, and you will be notified about.
How to buy on Coinbase Pro (GDAX)? In order to buy cryptocurrency for fiat, you will need to add your bank account , and then verify it. But note that such transfers take from 3 to 5 working days. The process of withdrawal is similar.
To deposit the cryptocurrency, you only need to specify the purse address and the coins will go to the balance.
Coinbase Pro fees depend of pricing tier. You can see the comission for both taker and maker at the Fee Structure table
The exchange lists numerous trading pairs. You can see information on them at the Market Information table on the relevant page.
Is Coinbase Pro (GDAX) safe?
The answer to the question “Is Coinbase Pro (GDAX) safe?” is definitely yes. The exchange uses cold storage technology for 98% of all assets, and those that are online are insured for $250,000. Also, to maintain security and to show that Coinbase Pro (GDAX) scam is completely absent, the service conducts security system checks and is regularly subjected to financial audits.
Now you know how to use Coinbase Pro (GDAX). We will try to highlight the main advantages and disadvantages of this exchange in the last part of Coinbase Pro (GDAX) review 2020.
- Large trading volumes;
- Purchase of cryptocurrency for fiat;
- Availability of the most popular cryptocurrency;
- Insurance of deposits;
- High-security level;
- Professional orientation.
- The interface is not the easiest;
- Mandatory verification.