GDAX vs Binance In-Depth Cryptocurrency Exchange Comparison

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GDAX vs Binance

While GDAX and Binance are two of the world’s most active cryptocurrency exchanges, they differ greatly in their offerings. In this GDAX vs Binance comparison, we’ll explain the differences and tell you why you may actually want to use both exchanges.

GDAX vs Binance Exchange Offerings

In the most basic sense, GDAX and Binance are similar, in that they both function as traditional cryptocurrency exchanges. When you place a trade on the exchange, you’re order is matched with other users’ trades. Past this, the two platforms differ a great deal.

GDAX is a cryptocurrency exchange that primarily allows users to trade fiat currencies (USD, EUR, GBP) for cryptocurrencies (Bitcoin, Ethereum, Litecoin, Bitcoin Cash). Using a bank transfer or wire, you can deposit fiat onto the platform. Once your deposit has been processed, you can then trade it for the 4 aforementioned coins.

While the exchange is primarily used to trade fiat to crypto, users can also trade Bitcoin for the other 3 supported coins.

GDAX Exchange Platform Review

Binance is a cryptocurrency exchange entirely devoted to trading cryptocurrencies for other cryptocurrencies. You can’t use fiat currencies to deposit, withdraw, or trade. You can however trade over 100 different cryptocurrencies.

When comparing GDAX vs Binance, think of GDAX as an entry point to the world of cryptocurrency and Binance as a gateway into a huge variety of altcoins. If you currently do not own any cryptocurrencies, but are interested in acquiring a variety of coins, you’ll likely need to use both a fiat-to-crypto exchange (like GDAX) and a crypto-only exchange (like Binance).

Binance Exchange Platform Example Buy Crypto

Let’s say you wanted to buy IOTA, a somewhat obscure cryptocurrency. There’s currently no good way for the average investor to buy this coin directly with fiat currency, so here’s what you could do.

  1. Use GDAX to buy Bitcoin or Ethereum.
  2. Once you’ve completed this, send the Bitcoin or Ethereum you purchased to Binance.
  3. Trade the cryptocurrency you deposited to Binance for IOTA.

Note: You may want to check out our GDAX Review and Binance Review for more specific information on each exchange.

Side-by-Side Exchange Comparison

Aside from the major differences discussed above, you can see other key details of each exchange in the table below:

ExchangeGDAX Logo

Binance Altcoin Exchange Logo

Deposit MethodsBank Transfers & Wires, CryptocurrencyCryptocurrency
Withdrawal MethodsBank Transfers & Wires, CryptocurrencyCryptocurrency
Trading Fees0.25% or less0.1%
Support CryptocurrenciesBitcoin, Ethereum, Litecoin, Bitcoin CashBitcoin, Ethereum, Litecoin, and 100+ More
Mobile AppNomobile icon


LocationSan Francisco, CaliforniaHong Kong & Tokyo
Company Launch Date20122017
Trust GradeA+A+
Customer SupportGoodGood
Review & User GuideGDAX ReviewBinance Review
SiteVisit GDAXVisit Binance

Two Widely Used Platforms

Both exchanges in this comparison consistently rank in the top 10 cryptocurrency exchanges in terms of daily trade volume.

Thanks to its huge variety of altcoins, Binance typically ranks in the #1 or #2 spot.

Likely due to its lack of available cryptocurrencies, GDAX is usually a bit behind in the 7-10 spot. This still means GDAX ranks in the top 3 exchanges that support fiat currencies.

Well Trusted Platforms

Based on how much these platforms are used, it seems safe to say the public trusts them. There’s good cases supporting both exchanges.

GDAX is owned by Coinbase, “The world’s most popular way to buy and sell Bitcoin, Ethereum, and Litecoin”. Since 2012, Coinbase has served over 10 million customers and allowed them to exchange over $50 billion in cryptocurrencies. In 2015, the company launched GDAX to cater to more sophisticated investors.

The company behind Coinbase and GDAX has received over $200 million in venture capital funding and reportedly earned over $1 billion in revenue in 2017. They’ve also set the industry standard for security on both of their platforms.

Binance was launched in 2017, after raising $15 million through an initial coin offering. It took less than half a year for them to become the world’s most used cryptocurrency exchange, as they blew competitors out of the water.

Much of the credit goes to CEO Changpeng “CZ” Zhao. If you take a look into CZ’s past, Binance’s meteoric rise seems more plausible.

Changpeng Zhao’s Resume:

  • Co-founder and CTO of OKCoin, China’s largest cryptocurrency exchange.
  • Head of Technology at, one of the world’s most popular Bitcoin wallets.
  • Founder and CEO of BijieTech.
  • Head of Development at Bloomberg Tradebook Futures.

Trading Fees

Perhaps the most important issue to many crypto investors is trading fees. Both exchanges offer very low fees.

GDAX uses a volume based maker-taker fee schedule, which you can view in its entirety here. To explain it plainly, at most you’ll be paying 0.3% fees on trades.


Binance has a flat 0.1% trading fee for all trades.

Binance vs GDAX Summary

When comparing Binance vs GDAX, there’s no “winner” because these platforms serve different purposes. With that said, each exchange does a great job fulfilling its purpose.

GDAX is one of the best ways to buy the most popular cryptocurrencies with fiat currencies. It offers low fees and a relatively simple to use platform.

Binance is the best way to trade a large variety of altcoins (more than 100) with very low fees. The only caveat is that you’ll already need to own cryptocurrency to use the platform.

The Unhashed Team is dedicated to teaching the world how to safely get involved in cryptocurrency.

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