Bitcoin is a digital currency that has been making waves in the financial world since its inception in 2009. Coinbase and GDAX are two of the most popular platforms for buying, selling, and storing bitcoin. While Coinbase is great for beginners, GDAX is a more advanced platform with lower fees. In this article, we will explain how to transfer bitcoin from Coinbase to GDAX.
Step 1: Sign up for Coinbase and GDAX
If you haven’t already, sign up for Coinbase and GDAX. Coinbase is a user-friendly platform that allows you to buy and sell bitcoin, ethereum, and litecoin. GDAX is a more advanced trading platform that is owned by Coinbase. It allows you to trade bitcoin, ethereum, and litecoin with other traders.
Step 2: Verify your accounts
Before you can transfer bitcoin from Coinbase to GDAX, you need to verify your accounts. Coinbase requires you to provide personal information and a photo ID to verify your account. GDAX requires you to provide personal information and a photo ID as well.
Step 3: Deposit bitcoin into your Coinbase account
To transfer bitcoin from Coinbase to GDAX, you need to have bitcoin in your Coinbase account. To deposit bitcoin into your Coinbase account, click on the “Accounts” tab and then click on the “Deposit” button next to your bitcoin wallet. You can then choose to deposit bitcoin from your wallet address or from an external wallet.
Step 4: Go to GDAX
Once you have bitcoin in your Coinbase account, go to GDAX. You can access GDAX by clicking on the “GDAX” tab in the top right corner of the Coinbase website.
Step 5: Transfer bitcoin from Coinbase to GDAX
To transfer bitcoin from Coinbase to GDAX, click on the “Deposit” button next to your bitcoin wallet in GDAX. You can then choose to deposit bitcoin from your Coinbase account. Enter the amount of bitcoin you want to transfer and click on the “Deposit” button.
Step 6: Confirm the transfer
After you have entered the amount of bitcoin you want to transfer, GDAX will show you the details of the transfer. Make sure that all the details are correct and then click on the “Confirm” button.
Step 7: Wait for the transfer to complete
It may take a few minutes for the transfer to complete. You can check the status of your transfer by going to the “Accounts” tab in GDAX and then clicking on the “BTC” wallet. You should see the pending transfer in the “Pending” section.
Step 8: Use your bitcoin on GDAX
Once the transfer is complete, you can use your bitcoin on GDAX to trade with other traders. You can also withdraw your bitcoin from GDAX to an external wallet.
Conclusion
Transferring bitcoin from Coinbase to GDAX is a simple process that can be completed in just a few steps. By using GDAX, you can take advantage of lower fees and more advanced trading features. If you are new to bitcoin, we recommend starting with Coinbase and then moving on to GDAX once you become more familiar with the platform.