December 26, 2019

The fees of trading

The fees of trading

What is GDAX?

            Ever heard of Coinbase, well it’s like that, it is a sister company of it. GDAX stands for Global Digital Asset Exchange. It was launched in 2105 to make sure it has low fees and superfast transactions.

The fee structure

            This being a very popular cryptocurrency it is also one of the cheapest. It is extremely cheap when it comes to trading. If you purchase with a credit card it will cost you 4%, and bank transactions will set you back by 1.5% each time. To understand the fees you have to take a look at some of them. If the pricing tier is up to $100k the taker fee will be 0.25% and the maker fee will be 0.15%. Or if it is $1b and more the taker fee is 0.05% and the taker fee is 0.00%. For those who don’t know what a maker or taker fee is well listen up. A maker fee or order is when you offer a transaction to another buyer, and if they accept they are the taker, so they also have to pay a fee.

Can you trade without fees?

            It may not seem possible on GDAX but it can be done. First you have to register on on coinbase, and follow all the steps required, then deposit some funds to you account. After sign up on www.gdax.com and you can trade now, with that transfer your funds and you should be all good to trade.

Finance
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