Score
GDAC
South Korea
2-5 years
Suspicious Regulatory License|
Medium potential risk
https://www.gdac.com/?locale=en_us
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Influence
C
Influence Index NO.1
South Korea 3.97
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1It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!
South Korea
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| Aspect | Information |
|---|---|
| Company Name | GDAC |
| Registered Country/Area | South Korea |
| Founded year | 2-5 years |
| Regulatory Authority | Not regulated |
| Numbers of Cryptocurrencies Available | 26 |
| Fees | 0.2% for both maker and taker |
| Payment Methods | Cryptocurrencies |
| Customer Support | 24/7 live chat, Email, Social media |
Overview of GDAC
GDAC is a virtual currency exchange based in South Korea. It's currently not under any valid regulations from recognized financial institutions. GDAC offers a wide range of 26 cryptocurrencies for users to trade including BTC, ETH, XRP etc. GDAC charged 0.2% transaction fee for both maker and taker. GDAC provides customer support through 24/7 live chat , email (support@gdac.com), social medias such Twitter and Facebook.
Pros and Cons
| Pros | Cons |
|---|---|
| Offers a relatively wide range of cryptocurrencies | No regulations |
| Mobile trading app available | Limited info on payment methods |
| Provides 24/7 live chat | Cryptocurrency funding method only |
| No deposit fees |
Pros:
- Offers a wide range of over 40 cryptocurrencies: GDAC provides users with a diverse selection of cryptocurrencies to choose from, allowing for greater investment options and potential profits.
- Mobile trading app available: Users can trade conveniently on the go through a dedicated mobile app.
- Provides 24/7 live chat: Customer support is accessible around the clock with live chat, enhancing user assistance and query resolution.
- No deposit fees: Users can fund their accounts without incurring any deposit-related charges.
Cons:
- No regulations: The absence of regulatory oversight could pose potential risks for users and the overall stability of the platform.
- Limited info on payment methods: Insufficient transparency about available payment methods could hinder user decision-making.
-Cryptocurrency funding method only: The approach could potentially exclude individuals less familiar with cryptocurrencies or those who prefer traditional funding methods, limiting the accessibility of GDAC's services.
Regulatory Authority
GDAC is not regulated by any specific authority. This lack of regulation can be seen as a disadvantage for traders as it may raise concerns about the security and oversight of the exchange. Regulatory bodies play a crucial role in ensuring the transparency, fairness, and stability of virtual currency exchanges. Without regulation, there may be a higher risk of fraud, money laundering, and other illicit activities.
Traders should be cautious when using unregulated exchanges like GDAC. They should thoroughly research and understand the risks associated with trading on such platforms. It is important to consider factors such as the exchange's reputation, security measures, and user reviews before making any transactions.
To mitigate the risks of trading on an unregulated exchange, traders can consider the following suggestions:
1. Conduct thorough research: Before using an exchange, traders should gather as much information as possible. This includes checking the exchange's background, reputation, and reviews from other users.
2. Use secure wallets: Traders should use secure wallets to store their cryptocurrencies instead of keeping them on the exchange. This reduces the risk of losing funds in case of a security breach.
3. Implement strong security measures: Traders should enable two-factor authentication and use complex passwords to protect their accounts. Regularly updating and securing devices used for trading is also important.
4. Start with small transactions: To minimize potential losses, it is advisable for traders to start with small transactions before committing significant amounts of capital.
5. Stay informed: Traders should stay updated on the latest news and developments in the virtual currency industry. This includes being aware of regulatory changes and any potential risks associated with unregulated exchanges.
By following these suggestions, traders can better navigate the risks associated with trading on unregulated exchanges like GDAC. However, it is important to note that there is always an inherent risk involved in virtual currency trading, irrespective of the regulatory situation.
Security
GDAC takes security seriously and has implemented various measures to protect user funds and information. One of the key security measures is the use of strong encryption technology to safeguard user data. This helps prevent unauthorized access and protects sensitive information from being compromised.
GDAC also employs two-factor authentication (2FA) to add an extra layer of security to user accounts. With 2FA, users need to provide an additional verification code, typically generated through a mobile app, in order to access their accounts. This helps prevent unauthorized access even if someone manages to obtain the user's login credentials.
In addition, GDAC stores the majority of user funds in offline cold storage wallets. This means that the funds are not directly connected to the internet, reducing the risk of hacking or theft. Only a small portion of funds necessary for daily operations are kept in hot wallets, which are more vulnerable but strictly monitored.
Furthermore, GDAC regularly conducts security audits and assessments to identify and address any potential vulnerabilities or weaknesses in their systems. This proactive approach to security helps ensure that user funds and information are protected to the best of their abilities.
While GDAC has implemented these security measures, it is important for users to also take steps to protect their own accounts. This includes using strong passwords, enabling 2FA, and being cautious of phishing attempts or suspicious links.
Cryptocurrencies Available
GDAC offers a wide range of over 26 cryptocurrencies for users to trade. This includes popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), as well as a variety of altcoins and tokens. Users have the opportunity to diversify their investment portfolios and take advantage of different market trends by trading these various cryptocurrencies.
How to Open an Account？
The registration process for GDAC is as follows:
1. Visit the GDAC website and click on the “Register” button.
2. Select Individual Member.
3. Click “Register with Email”.
4. Enter the email address and password to be used as your account (the text must be the same for the password and password fields.
5. Send a verification email to the email you entered.
6. Click the 'Verify email' email to verify your email and start the GDAC service.
Fees
Fee structure of GDAC is as below:
A. Transaction Fees
- BTC Market, ETH Market: Transaction fee: 0.2%
* The transaction fee rate is the same for both Maker and Taker.
B. Deposit and withdrawal fees and limits
- Individual member deposit and withdrawal level 4 or higher, corporate member deposit and withdrawal level 2 or higher must be required to use the deposit and withdrawal service.
- All deposit fees are free.
- You must have more than the minimum withdrawal amount (withdrawal fee + minimum withdrawal amount) to be able to withdraw.
| igital Asset Name | Support Network | Withdrawal Fees | Minimum withdrawal amount | Number of Deposit Confirmations | One-time and one-day withdrawal limit | |
| Cosmosatom | ATOM | Mainnet | 0.1 | 0.46 | 1 | 3,000 |
| Bitcoin Cash | BCH | Mainnet | 0.014 | 0.0064 | 4 | 300 |
| box | BOX | KCT | 512.8 | 140 | 10 | 5,000,000 |
| Bitcoin | BTC | Mainnet | 0.001 | 0.0003 | 1 | 50 |
| Ethereum Classic | ETC | Mainnet | 0.02 | 0.31 | 12 | 2,000 |
| Ethereum | ETH | Mainnet | 0.02 | 0.012 | 12 | 500 |
| Clay | KLAY | KCT | 4.1 | 20 | 38 | 200,000 |
| Clayswap | KSP | KCT | 1.3 | 5.5 | 20 | 58,000 |
| Paycoin | PCI | Mainnet | 16.6 | 17 | 1 | 760,000 |
| USDCoin | USDC | ERC20 | 18.9 | 3.8 | 12 | 38,000 |
| Tethered | USDT | ERC20 | 22.6 | 4 | 12 | 40,000 |
| Stellar Lumens | XLM | Mainnet | 0.1 | 40 | 1 | 450,000 |
| Ripple | XRP | Mainnet | 1.7 | 9.5 | 1 | 100,000 |
| Polygon | MATIC | ERC20 | 17.1 | 4.3 | 12 | 28,000 |
| Chainlink | LINK | ERC20 | 1.2 | 0.6 | 12 | 6,000 |
| Shiba Inu | SHIB | ERC20 | 454,545.5 | 454,546 | 12 | 3,000,000,000 |
| Uniswap | UNI | ERC20 | 1.5 | 0.8 | 12 | 6,500 |
| Decentraland | MANA | ERC20 | 16.4 | 8.2 | 12 | 56,000 |
| Sandbox | SAND | ERC20 | 7.5 | 7.5 | 12 | 58,000 |
| Axie Infinity | AXS | ERC20 | 0.5 | 0.5 | 12 | 3,900 |
| Chiliz | CHZ | ERC20 | 37.6 | 37.6 | 12 | 310,000 |
| graph | GRT | ERC20 | 32.9 | 32.9 | 12 | 240,000 |
| Phantom | FTM | ERC20 | 34.2 | 11.4 | 12 | 80,000 |
| curve | CRV | ERC20 | 9.1 | 4.6 | 12 | 40,000 |
| Basic Attention Token | .BAT | ERC20 | 34.7 | 17.4 | 12 | 130,000 |
| Looping | LRC | ERC20 | 13.3 | 13.3 | 12 | 90,000 |
| Nosis | GNO | ERC20 | 0.1 | 0.03 | 12 | 350 |
| Anchor (ANKR) | ANKR | ERC20 | 156.3 | 156.3 | 12 | 1,300,000 |
| 1-inch network | 1INCH | ERC20 | 19.4 | 9.7 | 12 | 72,000 |
| Compound | COMP | ERC20 | 0.1 | 0.1 | 12 | 800 |
| YonFinance | YFI | ERC20 | 0.004 | 0.00059 | 12 | 5.5 |
| Synthetics | SNX | ERC20 | 6.6 | 1.6 | 12 | 16,000 |
| Ethereum Name Service | ENS | ERC20 | 0.8 | 0.4 | 12 | 2,800 |
| Kyber Network | KNC | ERC20 | 19 | 6.3 | 12 | 48,000 |
| Golem | GLM | ERC20 | 55.6 | 18.5 | 12 | 150,000 |
| Carry Protocol | CRE | ERC20 | 1,075.3 | 1,075.3 | 12 | 7,500,000 |
| Kovac Token | CBK | ERC20 | 6.9 | 6.9 | 12 | 50,000 |
| Encop | NCOP | ERC20 | 14 | 0.2 | 12 | 70,000 |
| Waffle Stay | WAFL | Mainnet | 12.9 | 1.8 | 1 | 90,000 |
| WEMIX | WEMIX | Mainnet | 0.5 | 2.5 | 12 | 47,000 |
| Conpei | KON | Mainnet | 116 | 70 | 12 | 500,000 |
| Kleva | KLEVA | KCT | 156 | 16.6 | 12 | 800,000 |
| Hulby | BEE | KCT | 3,030 | 500 | 12 | 20,000,000 |
| Solana | SOL | Mainnet | 0.04 | 0.2 | 1 | 1,700 |
| MetaRare | MTRA | ERC20 | 29 | 0.8 | 12 | 150,000 |
| Enser | NFTC | BSC | 270 | 17 | 1 | 3,000,000 |
| D-Shop | DP | KCT | 48 | 24 | 12 | 246,000 |
| Metafinance | MF | ERC20 | 740 | 370 | 12 | 3,736,920 |
Payment Methods
GDAC exclusively accepts cryptocurrency-based methods. By concentrating solely on cryptocurrency funding, GDAC positions itself within the evolving sphere of digital assets. This choice is in harmony with the expanding influence of decentralized financial systems, potentially streamlining processes for users well-versed in the nuances of the crypto market. However, it's worth noting that this approach may present both advantages and limitations depending on users' familiarity with and preferences for cryptocurrency transactions, especially in comparison to traditional funding methods.
Is GDAC a Good Exchange for You？
When analyzing the trading groups that would be suitable for GDAC, several factors come into play. Firstly, GDAC offers a wide range of 26 cryptocurrencies for users to trade, making it appealing to both experienced traders looking for diverse investment options and newcomers who want to explore different digital assets. With its multiple security measures, GDAC provides a level of security that can attract risk-averse traders who prioritize the safety of their funds.
For active traders, GDAC's 24/7 live chat and email support can be advantageous. This round-the-clock assistance ensures that traders can receive prompt help and guidance whenever needed, which can be particularly helpful in fast-paced trading environments. Additionally, GDAC's trading tools, such as real-time price charts and historical data analysis, can benefit traders who rely on technical analysis to make informed trading decisions.
Conclusion
In conclusion, GDAC offers a range of advantages for users interested in virtual currency trading. With 26 cryptocurrencies available for trading, users have the opportunity to diversify their investment portfolios and potentially maximize profits. The exchange also offers 24/7 live chat and email support, prioritizing customer satisfaction.
However, unregulated status may pose challenges for users and raise concerns of the exchange's adherance on industry standards. Cryptocurrency as funding method only could also limitate the exchange's services.
FAQs
Q: What cryptocurrencies are available for trading on GDAC？
A: GDAC offers a wide range of 26 cryptocurrencies, including popular options such as Bitcoin, Ethereum, and Ripple, as well as various altcoins and tokens.
Q: Is GDAC regulated？
A: No, it's been verified that GDAC is currently under no valid regulation.
Q: Does GDAC offer margin trading？
A: No.
Q: Does GDAC have a mobile application for trading on the go？
A: Yes. GDAC offers a mobile app available on both iOS and Android devices.
User Review
User 1:
“I've been using GDAC for a few months now and overall, I'm pretty satisfied. The security measures they have in place, like encryption technology and two-factor authentication, make me feel confident about the safety of my funds. I also appreciate that GDAC is regulated, which adds another layer of trust. The interface is user-friendly, making it easy for me to navigate and execute trades. One drawback I've encountered is the limited selection of cryptocurrencies available. I'd love to see more options to diversify my portfolio. However, the customer support team has been helpful whenever I've had questions or issues. The trading fees are reasonable, although they can vary depending on the transaction type. Overall, GDAC offers a solid trading experience.”
User 2:
“I recently started using GDAC and so far, it's been a positive experience. The security measures they have in place, such as encryption technology and two-factor authentication, give me peace of mind knowing that my funds are well-protected. I also appreciate that GDAC is regulated, which adds an extra layer of trust. The interface is sleek and intuitive, making it easy for me to navigate and execute trades. The liquidity on the platform is decent, although there are times when I wish it could be better, especially for certain less popular cryptocurrencies. The range of cryptocurrencies available is diverse, allowing me to explore different digital assets. The customer support is responsive and helpful, addressing my inquiries promptly. The trading fees are reasonable, although they can vary depending on the transaction type. Overall, GDAC provides a reliable and user-friendly trading experience.”
Risk Warning
Cryptocurrency exchange investments come with inherent security risks. It is important to be aware of these risks before engaging in such investments. Cryptocurrency exchanges are susceptible to hacking, fraud, and technical glitches, which can result in the loss of funds. It is recommended to choose reputable and regulated exchanges, stay updated on security measures, and be vigilant in detecting and reporting any suspicious activities. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
1 ratings