So you want to trade crypto, huh? You have quite a bit of options then. There are approximately 1,400 coins with dozens of brokers and exchanges available. Two of the most popular websites include Coinbase and GDAX for trading or investing. This is a side-by-side comparison of them so you can decide which one to use, once and for all.
Coinbase vs GDAX
Same Company, Different Product
Both GDAX and Coinbase are actually owned by the same company. They heavily differ in terms of what they have to offer you though. GDAX is an extensive cryptocurrency exchange that allows you to trade coins and fiat currencies. If you have any experience with stock or Forex exchanges, you’ll feel right at home with them. Stop orders, limit orders and similar tools make it geared towards serious investors.
As you can see from the above screenshot, spreads, charts, order options and more are available form the dashboard. It would be wise to knock your investment knowledge up a notch before using GDAX. A lot of what you learn in other fields such as Forex will have parallels to crypto trading.
Coinbase on the other hand is much easier to use and friendly towards beginners. If you’re just getting your feet wet or trying to get your paws on a small amount of crypto, look no further. Unlike GDAX, Coinbase is simply a broker that will help you buy or sell cryptocurrency at a set amount. The platform is simple to use and straight to the point. You don’t need extensive knowledge on trading or investing to begin.
If you come from an investing background, GDAX is probably your best bet. It has everything you need to trade cryptocurrency successfully. For those that are looking to casually buy or sell crypto, head over to Coinbase and they’ll get you set up.