Have you ever wondered what happened to GDAX? If you’ve been around the crypto space for a while, you might have come across this name, but finding clear answers can be frustrating. Some traders remember it as a technical-focused exchange, while others associate it with Coinbase. So, what was GDAX, and why do people still talk about it?
GDAX was once a key player in the crypto market, offering advanced trading features that attracted serious investors. However, as the industry evolved, so did the platforms running behind the scenes. While you won’t find GDAX operating under its original name anymore, its legacy still plays a role in how crypto trading works today.
So, what made GDAX stand out, and why did it disappear? Let’s dive into its history, explore its features, and understand how it transformed into something new.
What Was GDAX?
GDAX, short for Global Digital Asset Exchange, was a cryptocurrency trading platform launched by Coinbase in 2015. It was designed for professional traders who needed advanced trading tools. Originally known as Coinbase Exchange, it was rebranded to GDAX to offer a more sophisticated experience than the standard Coinbase wallet.
By 2018, GDAX had become a preferred choice for traders due to its lower fees and powerful trading features. It supported direct fiat trading and allowed users to place complex orders. The platform made it easier to track price movements and execute trades efficiently.
In 2018, GDAX was rebranded as Coinbase Pro, aligning it with the main Coinbase brand. By 2022, it evolved into Coinbase Advanced Trade, maintaining many of its original features.
Read More: How To Spot Fake Crypto Exchanges?
Why Was GDAX Established?
GDAX was created to meet the needs of two different types of cryptocurrency users. While Coinbase focused on beginners with a simple interface, advanced traders needed more features. It provided a platform for those who wanted greater control over their trades and access to advanced tools.
Unlike Coinbase, it introduced features like limit and stop orders, real-time price charts, and a wider selection of cryptocurrencies. This made it more appealing to traders who wanted a professional trading experience. It gave users the ability to strategise and execute trades efficiently.
Another key reason for its launch was to offer lower fees. Coinbase had high fees due to wide bid/ask spreads, which affected profitability. GDAX solved this with a maker-taker fee model, allowing high-volume traders to enjoy lower trading costs and better price execution.
What Were The Features Of GDAX?
GDAX offered advanced features that appealed to professional traders. It provided better trading tools, lower fees, and more cryptocurrencies than the standard Coinbase platform.
Advanced Trading Tools
GDAX provided real-time market data, price charts, and an open order book. Traders could perform technical analysis and make the correct trading decisions. Unlike Coinbase, which was designed for beginners, GDAX catered to those who needed deeper market insights.
Multiple Order Types
Traders on GDAX had access to different order types, including market, limit, and stop orders. These options allow for greater control over trade execution. Users could decide when and how their orders were placed, improving their overall trading strategy.
Access to More Cryptocurrencies
While Coinbase initially supported only Bitcoin and Ethereum, GDAX introduced more digital assets early on. It offered cryptocurrencies like Litecoin and Tezos, giving users a broader selection for trading. This feature helped traders diversify their portfolios.
Lower Trading Fees
GDAX used a maker-taker fee structure that encouraged liquidity. Users who added liquidity to the market benefited from lower fees. Compared to Coinbase’s spread-based fees, GDAX provided a more cost-effective trading environment.
GDAX Conversion To Coinbase Pro And Then To Coinbase Advance Trade
Coinbase has rebranded its trading platform multiple times. GDAX became Coinbase Pro in 2018, and then Coinbase Pro changed to Coinbase Advanced Trade in 2022. These changes improved the platform while maintaining its core trading features.
GDAX Becomes Coinbase Pro in 2018
GDAX was a popular platform for professional traders. In 2018, Coinbase rebranded it as Coinbase Pro to align with its ecosystem.
This rebranding was mainly a branding move, as the platform’s features remained the same. Coinbase Pro kept all the advanced trading tools, lower fees, and support for various digital assets.
For GDAX users, the transition was smooth. Account balances, trade history, and functionalities remained unchanged, allowing traders to continue without any issues.
Coinbase Pro Changes to Coinbase Advanced Trade in 2022
In 2022, Coinbase Pro was rebranded as Coinbase Advanced Trade. This change further expanded the platform’s offerings while keeping its professional-grade trading tools.
Coinbase Advanced Trade introduced support for hundreds of cryptocurrencies, making it more versatile than its predecessors. Despite the rebranding, users did not lose access to their accounts or trading history.
This transition allowed Coinbase to offer a more seamless experience for both beginners and professional traders under a single platform.
What Is The Difference Between Coinbase and GDAX?
Coinbase and GDAX (now called Coinbase Advanced Trade) serve different types of crypto investors. Their key differences lie in user experience, features, and fees.
Coinbase: Beginner-Friendly Platform
Coinbase is designed for beginners who want a simple way to buy, sell, and hold crypto. The platform offers an easy-to-use interface with limited features. Users can purchase crypto instantly with a few clicks, making it ideal for those new to crypto trading. However, this simplicity comes with higher fees.
GDAX(Coinbase Advanced Trade): For Active Traders
GDAX, now known as Coinbase Advanced Trade, is built for experienced traders. It provides advanced tools like real-time charts, order books, and different order types. This platform also offers lower fees, making it cost-effective for frequent trading.
In short, Coinbase focuses on ease of use, while GDAX(Coinbase Advanced Trade) prioritises advanced trading features and lower fees for active traders.
Conclusion
GDAX may no longer exist, but its impact on the crypto trading world is undeniable. From its early days as a professional trading platform to its transformation into Coinbase Pro, it set the stage for how modern exchanges operate. Understanding its journey helps traders see how the industry has evolved and what to expect from platforms today.
If you’re trading on Coinbase Advanced Trade or any other exchange, keeping track of your transactions is crucial for tax compliance. KoinX makes crypto tax calculations effortless by syncing your trades automatically. Check out our crypto tax guides and try KoinX for free today to simplify your tax filing.
