How can GDAX pay no fees while transfering Bitcoin between wallets?

0

How is that possible that using GDAX you don't pay network fees (than can go up to 30 USD) to move bitcoins between wallets?

How can GDAX pay all these transactions fee for you?

giò

Posted 2018-01-16T18:08:09.673

Reputation: 105

Answers

3

GDAX is a centralized exchange, they don't actually transfer the Bitcoins between wallets. They have a database that associates every account with how much Bitcoin they are worth.This is why transferring from Coinbase to GDAX is free, because it is the same company running both platforms.

Cedric Martens

Posted 2018-01-16T18:08:09.673

Reputation: 877

1GDAX also covers the transaction fee for withdraws to arbitrary wallets which are not sitting on the GDAX backend. It seems that this fee was the one the OP was asking about which would mean the question hasn't been answered.deeplizard 2018-01-17T02:53:59.120

I was not asking between gdax and coinbase, but between gdax and other walletsgiò 2018-01-18T07:07:23.193

But the answer stays the same, GDAX to Coinbase or GDAX to any other GDAX owned wallet.Cedric Martens 2018-01-18T16:16:47.030

binance wallet are not owned by gdaxgiò 2018-01-19T10:24:44.347