Cryptocurrencies are digital resources created using modern cryptographic techniques based on blockchain technology. An unidentified person hiding under the pseudonym Satoshi Nakamoto in 2009, invented the first-ever cryptocurrency known as Bitcoin. After successfully introducing it to the market, the creator of Bitcoin has shadowed itself to this day, remaining anonymous. In this post, we’ll talk about GDAX, the best cryptocurrency exchange in the world.
Global Digital Asset Exchange
Established in April 2012 in the United States (San Francisco, California) by Brian Armstrong and Fred Ehrasam, GDAX is the most trusted exchange for cryptocurrencies in today’s world. Initially, it was called Coinbase and was the first licensed cryptocurrency exchange platform in America.
In less than three years, it attracted crowds of investors who have invested almost $ 106 million in it. Among them, there were such institutions as the New York Stock Exchange, the United Services Automobile Association, venture capital companies, and banks.
In the first stage of its activity, it offered its services on the American market, with time it expanded its reach to the rest of the world. Therefore, in May 2016, it changed the name of the exchange from Coinbase to Global Digital Asset Exchange. Currently, it covers 32 countries mainly located in Europe and North America.
The GDAX platform is one of the most popular cryptocurrency exchanges in the world. It serves both individual and institutional clients. It has over 7.5 million users and 46 thousand sellers, and its total turnover is USD 6 billion (USD 146 million a day on average).
From November 2013, it began insuring losses resulting from employee theft, accidental loss, and physical and digital security breaches. They made it through the British company Aon, one of the largest international insurance brokers.
Currently, all digital resources stored on an online disk are fully insured, and account balances in US currency are protected up to 250,000. dollars. Besides, 98% of the funds of exchange participants are held offline, in safe deposit boxes in various places around the world.