Coinbase plans to close cryptocurrency exchange GDAX

The popular cryptocurrency trading platform Coinbase announced that it plans to close cryptocurrency exchange GDAX to open new Coinbase Pro to drive the market, which will serve cryptocurrency investors.

With Coinbase , GDAX will continue to be active for some time again. The new platform will keep all GDAX functionality, while the current GDAX will be closed on June 29th.

All the activities and information of the users of GDAX will be moved to Coinbase Pro. The new platform will offer simpler and more intuitive design, as well as simplified deposit and withdrawal features, enhanced graphics, access to historical data and a refreshed portfolio page.

The company also announced that it will soon release its Coinbase Wallet. It is expected that this new wallet will be integrated with Pro in the next few weeks starting with customers outside the US.

GDAX is now the world’s eighth largest crypto money market with a volume of $ 280 million, according to CoinMarketCap.

Coinbase, on the other hand, has completed our last year with $ 1 billion in revenue – $ 2.7 million every day.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
Aamir Kapoor is a fintech writer specializing in cryptocurrency and blockchain. He has a background in finance and banking and was a researcher.