Transferring From Coinbase to GDAX: Buying and selling cryptocurrencies via Coinbase Pro (formerly GDAX) may appear scary, but it is actually a straightforward process. Read the article below to gain a comprehensive overview of the Coinbase Pro exchange and how to trade cryptocurrencies with no fees.
Coinbase Pro is a US-based digital asset exchange that works in tandem with Coinbase.com. Coinbase and Coinbase Pro are two of the more beginner-friendly cryptocurrency exchange services.
They are quite straightforward to use; however, they only support a handful of cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum, and Litecoin).
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Transferring From Coinbase to GDAX | 5 Steps
Below are the steps to follow:
Step 1: Create Accounts on Coinbase and GDAX
The first step in transferring digital money from Coinbase to GDAX is to open accounts on both services. If you already have accounts on both platforms, you may skip this step and go to the next.
To establish a Coinbase account, take these simple steps:
- Visit the Coinbase website (coinbase.com) and select the “Sign Up” option.
- Enter your email address and generate a strong password. Make sure your password is unique and difficult to guess.
- Click on the verification email that was delivered to your registered email address and follow the directions to authenticate your account.
- After your account is authenticated, you will be prompted to submit some personal information, such as your complete name and phone number. This step may differ according on your location and local regulations.
- To complete the KYC (Know Your Customer) process, upload a copy of a valid government-issued ID. This is important to meet regulatory standards for identity verification.
- After your identity has been validated, you can enable two-factor authentication (2FA) for additional security. This can be accomplished with an authenticator app or by SMS message.
After successfully creating an account on Coinbase, you may proceed to create an account on GDAX by following the instructions below:
- Visit the GDAX website (gdax.com) and select the “Create Account” option.
- Because GDAX is a Coinbase subsidiary, you must use the same email address and password.
- Verify your account by clicking the confirmation link that was provided to your registered email address.
Congratulations! You have successfully set up accounts on both Coinbase and GDAX.
You are now ready to advance to the next stage, which is to authenticate your identity on both platforms to have access to all of the available features and trade restrictions.
Step 2: Verify Your Identity on Coinbase and GDAX
Before you can take full advantage of Coinbase and GDAX’s services and benefits, you must first authenticate your identity.
This is a common method that assures regulatory compliance while also helping to prevent fraud and money laundering.
Follow these steps to confirm your identity on Coinbase:
- Log in to your Coinbase account with your registered email address and password.
- Click on your profile symbol in the upper right corner of the screen, then pick “Settings” from the drop-down menu.
- Click the “Limits & Features” page and then the “Identity Verification” section.
- Please provide the needed information, including your complete name, date of birth, and residence address.
- Follow the steps to upload a clear photo of your legitimate government-issued ID. Coinbase accepts passports, driver’s licenses, and ID cards.
After you submit your identity verification information, Coinbase will examine it and inform you of the status via email.
This procedure might take anything from a few minutes to a few days, depending on the number of verification requests.
To confirm your identity on GDAX, complete these steps:
- Log in to your GDAX account with your Coinbase credentials.
- Click on your profile symbol in the upper right corner of the screen, then pick “Settings” from the drop-down menu.
- Navigate to the “Identity Verification” section and select “Verify ID.”
- Please include the following information: your complete name, date of birth, and residence address.
Follow the steps to upload a clear photo of your legitimate government-issued ID. As with Coinbase, GDAX accepts passports, driver’s licenses, and identity cards.
GDAX will verify your identity and notify you of the results via email. The verification procedure usually takes the same amount of time as Coinbase.
Once your identity has been validated on Coinbase and GDAX, you will have access to all of the platforms’ features and trading limitations.
You are now ready to move on to the next step, which is to transfer your digital currency from Coinbase to GDAX.
Step 3: Transfer Digital Currency from Coinbase to GDAX
Now that you’ve opened and confirmed accounts on Coinbase and GDAX, it’s time to move your digital currency from Coinbase to GDAX.
This approach enables you to benefit from GDAX’s cheaper costs and improved trading capabilities.
Take the following procedures to transfer your digital currency:
- Log in to your Coinbase account with your registered email address and password.
- Click on the “Accounts” tab at the top of the screen.
- Scroll down and choose the digital currency you want to transfer from Coinbase to GDAX. For example, to transfer Bitcoin, click on the “Bitcoin” wallet.
- Click the “Send” button, which is found just beneath the balance of your selected currency.
- In the recipient field, put the GDAX deposit address. To retrieve this address, go into your GDAX account and navigate to the “Deposit” area for the digital currency you want to transfer.
- Specify how much digital currency you wish to send from Coinbase to GDAX. You can input the amount manually or transfer the whole total.
- Double-check the transaction details to guarantee their correctness.
Click the “Send” button to begin the transfer.
It is vital to note that transactions from Coinbase to GDAX are often done immediately and without any transaction fees.
- Once the transfer has begun, you can track its progress by clicking on the “Accounts” tab in Coinbase and choosing the “Recent Activity” option for the digital currency you sent.
- You have successfully moved your digital currency from Coinbase to GDAX. This enables you to take use of the sophisticated trading capabilities and cheaper costs provided by GDAX.
Please keep in mind that your digital currency will remain on the GDAX platform, and you may go to the following step to complete the transfer.
Step 4: Confirm the Transfer on GDAX
After moving your digital currency from Coinbase to GDAX, make sure to confirm the transfer on the GDAX site.
This step assures that the transferred funds may be used for trading and other GDAX operations.
To validate your transfer on GDAX, follow these steps:
- Log in to your GDAX account using your registered email and password.
- Click on the “Accounts” tab at the top of the screen.
- Find the digital currency you sent from Coinbase among the accessible wallets.
- Click the “Deposit” button next to the digital currency that you transferred.
- Make sure the deposit address matches the one you used to initiate the transfer from Coinbase. Compare the digital currency balance in your GDAX wallet to the amount sent from Coinbase.
- Make sure the transmitted amount fits your expectations.
- If the transmitted money and address match, consider the transfer confirmed.
- Confirming the transfer on GDAX guarantees that your digital currency is safely kept in your GDAX wallet and ready for trading or other operations on the platform.
- If you discover any problems or anomalies throughout the confirmation process, please contact GDAX customer service for additional assistance. They will be able to handle any problems or technical issues you may have.
Now that you’ve successfully validated the transfer on GDAX, you may go on to the next stage, which involves reviewing and completing the transfer procedure.
Step 5: Review and complete the transfer
Now that you’ve moved your digital currency from Coinbase to GDAX and validated the transaction on the GDAX platform, it’s time to evaluate and finalise the transfer. This step guarantees that everything is in order before engaging in any trading or other activity on GDAX.
Follow these procedures to review and finalise the transfer:
- Examine the transfer information, including the digital currency, amount sent, and deposit address.
- Ensure that all of the information is correct and reflects your aims.
- If everything is in order, you may consider the transfer complete.
- It is critical to thoroughly verify the transfer information since any errors or anomalies might lead to irrevocable transactions or financial loss. Double-checking every piece of information guarantees that the transfer goes smoothly and securely.
Once you’ve verified and confirmed the transfer, you may start exploring the GDAX platform’s features and trading opportunities.
GDAX provides advanced trading tools, charts, and order types to more experienced traders. To get the most out of your digital currency holdings, spend some time getting to know the platform’s features.
Remember that GDAX is a different platform from Coinbase, although being owned by the same business.
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It’s critical to keep this in mind while switching between the two platforms and making transactions.
Congratulations! You successfully reviewed and completed the transfer from Coinbase to GDAX. You are now ready to use GDAX’s sophisticated trading capabilities and perks.
To make educated investment decisions and secure your digital assets while trading or engaging in other GDAX activities, you must remain up to speed on the latest market trends, news, and security standards.
Congratulations! You have successfully learned how to transfer digital money from Coinbase to GDAX for free.
This step-by-step instruction has supplied you with the information you need to create accounts, authenticate your identity, transfer digital currency, and validate the transaction on GDAX.
By following these steps, you may benefit from GDAX’s sophisticated trading capabilities and cheaper costs.
Remember that Coinbase and GDAX are reliable and trustworthy services for purchasing, selling, and storing digital currency.
Coinbase is more user-friendly and appropriate for novices, whereas GDAX provides a more complex trading environment for experienced traders.
When moving digital money from Coinbase to GDAX, make sure all of the data is correct. Before finalising the transfer, confirm that the deposit address matches the one you supplied throughout the transfer procedure, and review the transferred amount.
Taking these procedures will help you avoid any potential problems or loss of cash.
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