Making a GDAX Deposit
GDAX used to be called Coinbase Exchange and is geared towards active traders. However, GDAX is a great way to bypass the steep Coinbase fees. It also helps that if you already have a Coinbase account you have a GDAX account and can make free/instant transfers! This guide will go over how to make a GDAX deposit in both cryptocurrency and fiat currency.
If you do not have a Coinbase account, consider using my referral link. If you purchase $100 or more in Bitcoin we both get $10 worth of it!
Steps to make a GDAX Deposit
1. Go to the GDAX website and login
2. Choose the product from the drop-down list for the cryptocurrency you want to deposit. As of this writing GDAX only accepts Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCC), and LiteCoin (LTC). In this example, I want to deposit Bitcoin, so I chose the BTC/USD pairing. Note that you could choose one of the other BTC/??? pairs, I just have to choose USD since I am based in the US.
3. Click the “Deposit” button
Now you have 4 options for making a deposit, which are Bank Account, Bank Wire, Coinbase Account, and BTC/ETH/BCC/LTC Address.
Bank Account – Fiat currency deposit
1. Select the bank account from the “Source” field and enter the amount you want to deposit
2. Click the “Deposit funds” button
Bank Wire – Fiat Currency Deposit
1. Give the information they provide to your bank to have a wire transfer sent. Wire transfers are good if you need to send more than your weekly limit. Do not use the information from the screenshot though, always check the website in case they have updated their information!
Coinbase Account – Cryptocurrency and Fiat currency Deposit
1. Select the Coinbase wallet you want to transfer from and enter an amount. Note that since I chose a BTC product in step 2 that it will only show my BTC and USD wallet. If I had chosen an ETH product, the ETH wallet and USD wallet would be options. I am choosing BTC in this example. Note that transfer are instant and free between Coinbase and GDAX!
2. Click the “Deposit Funds” button
BTC Address – Cryptocurrency Deposit
NOTE: If we had chosen an ETH product, this tab would be called ETH Address and it would have shown us an Ethereum address. Same goes for BCC and LTC. The steps are the same though!
It’s easy to make a GDAX deposit. If you already have a Coinbase account you should be able to go to GDAX and login immediately. The fees are much lower on GDAX, so I highly recommend using them when you can. It’s also nice to have the option of converting between fiat and crypto. Guides on how to buy and sell on GDAX coming soon!