from Coinbase to GDAX functionality in buying/selling/trading?

Bitcoin Questions and Answersfrom Coinbase to GDAX functionality in buying/selling/trading?

G2 asked 1 year ago

recently got onboard at Coinbase, and now i’d like to be able to put in stop-loss,limit-order or put-option or whatever hey are caooled in cryptocurrency universe. i don’t think Coinbase has this function. so is GDAX a good place for these type options?

i did sign up on GDAX, as they are already linked to Coinbase. GDAX wanted my username & pw to my bank account. is this {normal}?

1 Answers
Steven Hay answered 1 year ago

Hey G2,
The trading terminology remains pretty much the same in crypto land, except buy and hold is called “hodling,” a major price rise is called “mooning” and a big loss is termed “getting rekt.” The technical terms are the same, just different slang.
GDAX is the full exchange side of Coinbase, yes. It has those kind of advanced options, whereas Coinbase is basically just a broker which buys and sells cryptos in a simplified way.
Yes, GDAX does request user’s bank login details as part of their process. I personally don’t think it’s “normal” – it horrifies me to give control of my bank account to a third party in this way. I would never use Coinbase for this reason, as I simply don’t trust them that far… I’d probably use BitStamp instead, as they’re a very reliable exchange with far less “big brother” vibes. I believe BitStamp (and many other exchanges) are also a lot more beneficial to the Bitcoin ecosystem as a whole.
While I don’t believe Coinbase / GDAX are dishonest or actively malicious, they frequently exhibit a marked lack of care and understanding for the Bitcoin protocol which forms their core of their business, to say nothing of how they treat their clients.

G2 replied 1 year ago

i didn’t recall giving my username/pw to Coinbase when i first signed up and bought my first coins. but maybe i did, but their GDAX was so blatant about it and that red-flagged my brain i had to ask here, so thank your feedback!!

now that my coins are off Coinbase and on my nano i’ll go check out BitStamp now. certainly on the same page regarding the Bitcoin ecosystem & philosophy.

valuable education here at 99, thanks!

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