Quite recently, the cryptocurrency exchange known as GDAX announced that it is going to become Coinbase Pro. They have decided to rebrand themselves, and during this transition, they also bought Paradex, an Ethereum startup.
Better Experiences for Those Using the System
The exchange has said that Coinbase Pro is going to be an evolution of GDAX, a company that had already been doing quite well for itself. GDAX was launched in 2015, and over the course of the following years, they build stability and liquidity in the field. During this time, they also learned how they could better meet the needs of the traders who were using the service. They felt that there would be able to offer more.
Already, they are connecting more than 20 million buyers and sellers of cryptocurrency. With the rebranding and the acquisition of Paradex, it appears that they are going to be able to offer up some new services that could be helpful. For example, they are using technology from their new acquire to allow users of Coinbase to trade between wallets without needing to use an exchange to facilitate the transfer.
Ultimately, they want to make sure that they are providing a better overall trading experience for those who are going to be using it. They seek to make the fund flow process easier, and they want to improve charts that will make it easier for customers to have access to historical data. They also want to offer a consolidated portfolio, so the customers will have a better and clearer view of their balances and orders.
The general manager of Coinbase Pro, David Farmer, said, “By enabling both investments and the utilization of cryptocurrency, we’re offering customers a unique opportunity to begin truly participating in the cryptocurrency ecosystem. Our vision is to give customers the ability to participate in services like staking and protocol voting that are distinct to crypto. As the decentralized ecosystem advances, we expect there will be many more opportunities for customers to interact with digital assets in new and unique ways.”
Both GDAX and Coinbase Pro products were running simultaneously up until June 29, 2018. After that point, all of the customers who had not already switched over to Coinbase Pro were rolled into the new system. The experience seems to have gone very smoothly.
How Is It Going So Far?
Thus far, the majority of the users have not had any problems with the name change or the new features. Most are pleased with the results, and the fact that it was easy for them to make the change. They enjoy the new features and options, as well. Those who are just now considering working with Coinbase Pro will find quite a bit to enjoy, and it could be a good choice for their needs. Of course, you will want to do more research and make sure it is the right choice for what you are planning to do with cryptocurrency.