To begin your cooperation with the GDAX, you must create your personal account or you can use the Coinbase profile (in case you have). Transferring all your funds from the Coinbase account to the gdax is fast and without any fees.
But, if you do not have any Coinbase account, then you will need to register at GDAX. Not just register, but verify. Not like other sites that will allow the limited trading choices for the people with the unverified accounts, but GDAX will be used only after the account gets approved by the administration. This means you can’t neither buy nor sell anything before making the verification. To check out, you need to fill out the form as well as provide personal information as the date of birth, source of funds, address, and scope of activity as well as current work place.
We have got no idea, why the cryptocurrency exchange must know where or how you get the money, however, it is the piece of information that you need to provide. Suppose you think sharing this information with the online financial resources can interfere with your personal for confidentiality – then we encourage you give up on this idea as well as find other exchange out there. Also, to check, you must additionally provide the standard package of the documents (driver license, ID, and more).
One biggest plus that we will pinpoint in the GDAX is it has low fees. For buying the coins, you need to pay around .25% fee (compare, Coinbase for 1.49 percent every transaction). Despite a fact that the GDAX is initially made for the professionals, this has the simple and very clear interface. Thus, even though you are totally new to trading, and you can easily understand in a way it works.