Make a GDAX Withdrawal
GDAX used to be called Coinbase Exchange and is geared more towards active traders. However, GDAX is a great way to bypass the steep Coinbase fees! Transfers from GDAX are free, so it’s better to send to GDAX from Coinbase and then send to another wallet or exchange. If you need to deposit into GDAX from your Coinbase account, check out this guide. It also helps that if you already have a Coinbase account you have a GDAX account! This guide will go over how to make a GDAX withdrawal 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 Withdrawal
1. Go to the GDAX website and login
2. Choose the product from the drop-down list for the cryptocurrency you want to withdraw. As of this writing GDAX only accepts Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCC), and LiteCoin (LTC). In this example, I want to withdraw Bitcoin, so I chose the BTC/USD pairing.
NOTE: For a fiat currency withdrawal it will not matter what the ‘cryptocurrency’ pairing is. I could choose BTC/USD, ETH/USD, etc. as long as it has USD.
3. Click the “Withdraw” button
Now you have 4 options for making a withdrawal, which are:
- Bank Account
- Bank Wire
- Coinbase Account
- BTC/ETH/BCC/LTC Address.
Bank Account – Fiat currency withdrawal
1. Enter the amount you want to withdraw, choose the bank account it should go to, and enter any security information GDAX requires.
2. Click the “Withdraw funds” button
Bank Wire – Fiat Currency withdrawal
1. Contact your bank to get the information needed to have money wired to your account. If you do not have any wire information on Coinbase it will prompt you to add some as shown below. Details on setting up a Coinbase wire will be covered in a later guide!
Coinbase Account – Cryptocurrency and Fiat currency withdrawal
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 transfers are instant and free between Coinbase and GDAX!
2. Click the “Withdraw Funds” button
BTC Address – Cryptocurrency withdrawal
1. Fill in the “Amount” and “Destination” fields. Destination will be the Bitcoin wallet you are sending funds too.
2. Enter any security information requested and then click the “Withdraw funds” button.
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!
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. Check out the Exchange tutorial page and Wallet tutorial page for more guides!