You all must be aware of the fact about the use of cryptocurrency exchange. Well, let us remind you again that it is a trading platform where trading of cryptocurrencies for fiat money or other digital currencies and assets take place. Currently, there are various cryptocurrency exchanges that you will find in the crypto market. These exchanges allow its customers to sell, buy, and trade multiple coins and tokens. But have you ever wondered how to transfer from one exchange to another exchange? Seems confusing! Well, let us explain to you with an example of GDAX to Binance transfer.
Among many cryptocurrency exchanges, GDAX and Binance are some of the prominent ones. Coming on to our main subject which is based on the transfer of one exchange to another, it will be good if we gain brief knowledge about these exchanges one by one. So let us begin with:
GDAX Cryptocurrency Exchange
GDAX is one of the popular crypto exchanges launched in 2016. It enables trading between crypto to fiat or crypto to crypto. The company behind the Coinbase exchange is known to be the owner of this exchange. Having a GDAX account automatically exists on Coinbase also. GDAX exchange enables its users to purchase or sell Ethereum, Bitcoin, Bitcoin Cash, and Litecoin, all four different cryptocurrencies. You can trade these crypto coins against EUR and USD. GDAX is perfect in comprising better security controls like FDIC insurance for USD balances, cold storage, or two-factor authentication.
Binance Cryptocurrency Exchange
Before heading on to know the transfer of one exchange to another, let us know about Binance, another cryptocurrency exchange. Binance is the world’s most popular cryptocurrency exchange that came in 2017. Apart from it, this crypto exchange is known for having ample crypto trading volume, amounting to around $2 billion. Binance provides its users with the best advantage of listing around 100 different coins including the popular ones like Ethereum and Bitcoin and the less known ones.
Transfer From One Exchange To Another
Referring to our main topic on how to transfer from one exchange to another. Let us give you an example of transfer from GDAX to Binance, the two most popular exchanges. Before proceeding for the transfer, and to get your wallet address, it is important to log in to your Binance account. If you don’t have, then better make it. It won’t be much time-consuming. Rather, it is a matter of a few minutes, as there is no need for id verification. After all, is done, the official website of Binance can be accessed by clicking a link. After account set-up, go to Funds and click the Deposits option.
In the next, you will be shown a dropdown box will be shown to you, which indicates to select coin/token to deposit. Browse for the cryptocurrency you want to send from one exchange to another or say GDAX to Binance. Now, with a unique Ethereum address for Binance, you will have to feed into GDAX to do transfer from GDAX to Binance.
So now you know the process of transfer from one exchange to another, just as we mentioned you in an example of GDAX to Binance. If you are a true crypto explorer, then we suggest you sign up on the Cryptoknowmics website. Here you will get to know all about the topics that you have been searching on other sites, but could not get a satisfactory result. Cryptoknowmics is one of the best crypto websites that will let you find any topic like GDAX to Binance transfer or any relevant topic you want to know about. No need to switch on other sites to explore Cryptoknowmics.