Only a few android users are able to know what the term “CB access key header is required” means. This article dives into what surrounds the term and the proper solution
WHAT ARE COINBASE AND GDAX?
If you are quite accustomed to the world of digital and cryptocurrencies, there’s no doubt that you’ll have come across the name “Coinbase.” They do not need an introduction as one of the biggest digital currency brokers in the world.
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Nevertheless, here goes a brief introduction: In the year 2012, Coinbase was established. They are a digital currency broker that serves as a means to buy and sell digital currencies using fiat currencies (USD and EUR). Before the emergence of Coinbase, it was quite difficult for people who were not familiar with the intricacies of digital currencies to just purchase them due to the many technicalities that come with it.
The goal of Coinbase at inception was to help cryptocurrency newbies and people that are not used to the blockchain technology to be able to purchase digital currencies with ease, and they have achieved that.
Their achievements speak for themselves as they were the first U.S licensed Bitcoin exchange. They generate a revenue of over 1 billion USD in a year and currently have over 500 employees.
In the year 2016, the owners then decided to extend their excellent services to professional cryptocurrency traders and start a trading platform (The first product was just a digital currency platform, remember?).
Thus, the Global Digital Asset Exchange (GDAX) was born, and it functions just like other trading platforms with more sophisticated options compared to Coinbase. Both are interconnected, as you can own accounts with both platforms and even transfer funds between both accounts. In 2018, GDAX was rebranded and named ‘Coinbase Pro.’ However, for the sake of this article, the name GDAX will still be used to refer to the platform.
Coinbase has two functions: serves as a cryptocurrency exchange and also as a digital wallet for storing your cryptocurrencies (although it is advisable not to store cryptocurrencies digital wallets as they are most susceptible to hacker attacks and malware).
It is also worthy to note that when buying digital currencies on Coinbase, you’re not buying form other people on the platform but from Coinbase themselves, and the price might vary from the actual market price even though the difference is usually quite small. However, the advantage is it’s safer as you know you’ll get your coins. GDAX, on the other hand, is used for trading currencies and can be used to analyze the actual market, and on this platform, you’re dealing with other traders.
Both platforms list the same number of coins, just four, namely Bitcoin, Ehereum, Litecoin, and Bitcoin Cash. This is an advantage and also a disadvantage. The advantage is that these four are some of the most reputable cryptocurrencies presently, and you do not have to have sleepless over losing your money due to the cryptocurrency folding up or anything of the sorts. The disadvantage, however, is unlike most other platforms of the same status, they list quite a few coins.
Methods of deposit/ withdrawal
On Coinbase, you have the added advantage of linking your debit/credit cards to your account apart from your bank account. You can also move funds into Paypal. This action makes buying and selling of coins quite easier. However, on GDAX, the only option available to withdraw or deposit funds is through bank transfer.
This is where having accounts on both platforms can be an advantage. A credit card can be used to transfer money to the Coinbase account, and then the funds are then moved to the GDAX account (problem solved!)
DIFFERENCES BETWEEN COINBASE AND GDAX?
It is possible for someone who’s not used to both platforms to confuse them for one another due to their common origin. However, there’s a world of differences between both articles Just as stated earlier, Coinbase is used for digital currency exchange and as a wallet while GDAX is used for trading and is meant for professional traders.
Also, the method of deposit and withdrawal is slightly different. There’s a similar method for both platforms, which is the bank transfer. However, Coinbase allows the use of credit/debit cards and Paypal while GDAX does not.
One major difference is the charges both platforms enforce on deposits or withdrawals. On Coinbase, there’s a 1.49% charge on bank transfers and 4% charge on credit/debit card deposit or withdrawals while on GDAX, there is only 0.25% charge on deposit or withdrawals
Another difference in both is the sophistication of their operation. Coinbase, due to its target audience, has a very user-friendly interface and is easy to use while GDAX is complex and carries out a wide variety of orders like limit orders, stop order, and market orders. These are terms that only professional traders will understand, and you should get enough knowledge about cryptocurrency trading before using your hard-earned money on this platform.
ADVANTAGES AND DISADVANTAGES
Due to their common origin, their advantages and disadvantages are quite similar, and the advantages that come with both platforms outweigh the disadvantages. Let’s go through a few:
Security: Both platforms have an excellent security system in place that helps to protect their customers’ data in the case of a data breach. Both platforms store confidential customer data online but offline on USB and hardware disks, which are safely kept in various vaults located all over the world.Lists reputable coins: The cryptocurrencies listed on Coinbase and GDAX are some of the most reputable coins in the world, so there is no need to worry over the coins going into extinction.
High rates: The rates that both platforms charge on deposits and withdrawals is quite high compared to other platforms.Transaction monitoring: Both platforms monitor how their users use their coins, and contact details are attached to your account, and this defeats the purpose of blockchain, which is to allow for the decentralized transfer of wealth. The implication of this is that both platforms reserve the right to freeze your account if you’re found guilty of any shady dealings.
CB ACCESS KEY HEADER IS REQUIRED
It is possible to be using any of both platforms, and you’re suddenly redirected to a page where this message ‘CB access key header is required’ is displayed. This simply means that the session you’re on has expired and there are two ways to solve this problem:
Method 1: Simply log out and log in back and the message should be cleared
Method 2: If you’re finding it difficult to log out of the page and it keeps redirecting to the error page, keep refreshing the page repeatedly until you are directed to the login page, then you can log in without any stress.