Bittrex vs GDAX
Bittrex vs GDAX: Cryptocurrency traders commonly use Bittrex and GDAX in tandem to purchase alternative (alt) coins. However, if your goal is to stick with simple investing, you may be wondering which platform is better suited for you.
Although both exchanges boast low fees, GDAX is known for its fiat to cryptocurrency functionality (and vice versa) while Bittrex only includes crypto to crypto trading.
In this Bittrex vs GDAX comparison, we’ll go over the nitty-gritty of each exchange so you can decide which one you’d rather use. You may end up finding that both are ideal for you.
We’ll explain:
- Funding Methods
- Interface
- Trading Fees
- Available Cryptocurrencies
- Transfer Limits
- Company Trust
- Fund Security
- Customer Support
Bittrex vs GDAX Key Information
| Exchange |  |
|
|---|---|---|
| Reviews | ||
| Site Type | Cryptocurrency Exchange | Cryptocurrency Exchange (with Fiat) |
| Beginner Friendly |  |
 |
| Mobile App | |
|
| Buy/Deposit Methods | Cryptocurrency, Wire Transfer (>$100,000) | Bank Transfer, Coinbase, Cryptocurrency |
| Sell/Withdrawal Methods | Cryptocurrency | Bank Transfer, Coinbase, Cryptocurrency |
| Available Cryptocurrencies | Bitcoin, Ethereum, Litecoin, Bitcoin Cash + >100 more coins | Bitcoin, Ethereum, Litecoin, Bitcoin Cash |
| Company Launch | 2014 | 2012 |
| Location | Seattle, WA, USA | San Francisco, CA, USA |
| Community Trust | Great | Great |
| Security | Great | Great |
| Customer Support | Good | Good |
| Verification Required | Yes | Yes |
| Fees | Low | Low |
| Site | Visit Bittrex | Visit GDAX |
Funding Methods
Bittrex primarily supports pure cryptocurrency trades. Therefore, you’re only able to fund your account with cryptocurrency. We recommend using Bitcoin, Ethereum, or Tether to make deposits because those are the three cryptocurrencies that you can trade for other coins on the platform.
You can also purchase Bitcoin, Ethereum, and Tether via wire transfer, but the minimum purchase amount is $100,000.
GDAX offers a few different funding options. You can deposit USD via ACH transfer, wire transfer, or from your Coinbase wallet. Deposits from Coinbase are free and instantaneous. Additionally, you’re able to send supported cryptocurrencies (currently Bitcoin, Ethereum, Litecoin, Bitcoin Cash) to your account.
Interface
Bittrex recently overhauled their interface, giving it a fresh, new look. That being said, it’s still slightly more complex than GDAX.
Like most other exchanges, Bittrex includes all of the relevant charts and data tools you need to perform technical analysis including a depth chart, candlestick graph, and volume indicators. You can also quickly switch between different coins using the menu on the left side of the page.
On Bittrex, you’re able to execute market, limit, and conditional orders all on the same page as the data tools.
GDAX also places the basic charts and tools on the same page as the order book. If you’ve traded before, you shouldn’t have a problem using either interface.
Trading Fees
Bittrex has a simple fee structure: 0.25% on all trades.
The GDAX trading fee schedule is a little more complex. If you’re a maker (someone who puts an order on the books), there’s no trading fee.
If you’re a taker (someone who fills an order from the books), though, your fee ranges from 0.10% to 0.30%. Your 30-day trading volume determines the fee that you pay. The higher the trading volume, the lower the fee.
As you can see, the trading fees between the two platforms are about the same
Available Cryptocurrencies
Bittrex offers over 100 cryptocurrencies in trading pairs with Bitcoin, Ethereum, and Tether. Some of the coins include:
You can view the entire list of Bittrex’s available cryptocurrencies here.
GDAX is much more limited, only offering Bitcoin, Litecoin, Ethereum, and Bitcoin Cash currently. However, the company has announced that they plan to offer some ERC20 tokens sometime soon.
Transfer Limits
Bittrex has more restrictive transfer limits than other pure cryptocurrency exchanges due to their United States headquarters. You’re able to deposit any amount that you wish into your Bittrex account. However, if you ever want to withdraw funds, you need to verify your account. Your daily withdrawal limit at each verification level is:
- 0 BTC: No Verification
- ~0.4 BTC: Basic Verification
- 1 BTC: ID Verification (without 2FA enabled)
- 100 BTC: ID Verification (with 2FA enabled)
GDAX doesn’t limit your deposit amount if you make it with cryptocurrency or through a wire transfer. There is a weekly limit on the amount you can deposit via ACH, though, that depends on your account age, trading history, and verification level. ACH transfers usually clear in 3-5 business days but could take up to 7-10 calendar days.
GDAX limits your withdrawals to $10,000 per day.
Company Trust
Bittrex and GDAX are both US-based companies headquartered in Seattle and San Francisco, respectively. Because of this, they adhere to all US rules and regulations regarding cryptocurrency trading.
The cryptocurrency community feels overwhelmingly positive towards these two exchanges as well. The only complaints that surface are in response to delayed customer support times, but even these seem to be few and far between these days.
Fund Security
Once again, you can trust both Bittrex and GDAX to keep your funds secure.
Bittrex was founded by a group of cybersecurity experts. They keep the majority of investors’ funds offline using an elastic multistage wallet strategy. Sometimes to the point of annoyance, they’ve also integrated two-factor authentication into almost every step of the trading process.
GDAX is owned and operated by the same company as Coinbase, so they share the same security measures. All of your U.S. dollar funds are FDIC insured up to $250,000. Like Bittrex, GDAX stores the majority of digital assets offline in hardware wallets as well.
Customer Support
Similar to most other cryptocurrency exchanges, Bittrex and GDAX had trouble handling the massive influx of investors toward the end of 2017. Bittrex even closed its doors to new sign-ups briefly in order to control their issues. Now, both platforms are much more prepared to handle the larger trading volume.
Bittrex has made a written commitment to improving their customer service. This includes a comprehensive support site with ample FAQs and easy-to-use issue portal.
GDAX also has a well-documented FAQ section and typically answers support tickets within 2-3 business days. Additionally, the company recently added a support telephone number you can call if you need help.
Bittrex vs GDAX Conclusion
It’s probably better to think of this comparison as Bittrex and GDAX rather than Bittrex vs GDAX. With low fees, community trust, and similar interfaces, these exchanges work well together.
You may want to consider using GDAX to purchase either Bitcoin or Ethereum with fiat. And then, transfer those cryptocurrencies to Bittrex to trade for additional altcoins. But ultimately, the decision is yours to make.
(See CoinCentral’s Full List of Crypto Exchange Reviews)
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The post Bittrex vs GDAX Exchange Comparison appeared first on CoinCentral.
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