Cryptocurrency exchanges

Gopax – Reviews, Trading Fees & Cryptos (2020)

Gopax – Reviews, Trading Fees & Cryptos (2020)

A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Gopax consists of four parts: general information, fees, deposit methods and security.

Gopax is a newer addition to the gang of South Korean cryptocurrency exchanges. There is a large number of South Korean cryptocurrency exchanges, as the country has been one of crypto’s strongholds since early on. In addition to this exchange, the list also includes (but is not limited to): Bithumb, Coinone, Korbit, Coinrail and UPbit.

The name is really an acronym standing for Global Online Professional Assets Exchange and it has quickly become the 5th biggest South Korean cryptocurrency exchange.

The exchange does not list US-investors as prohibited from trading, but US-investors should as always do their own independent assessment of any problems arising from their residency or citizenship.

This exchange also has an OTC-function, where you can buy and sell cryptocurrencies outside of the regular trading platform. The exchange lists the following six things as advantages with their OTC-platform: personal trading support, market updates, deep liquidity, competitive pricing, fast settlement and multiple assets. These factors are all very helpful to a prospective OTC-trader.

Gopax Advantages

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Gopax:

Gopax Trading View

Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The main alternative to this is to simply charge “flat” fees. Flat fees mean that the exchange charges the taker and the maker the same fee.

This exchange charges a flat fee of 0.04% per trade. This is a competitive fee, especially considering that the global industry average is arguably around 0.25% (more than 6 times higher).

Gopax charges a withdrawal fee amounting to 0.002 BTC when you withdraw BTC. This fee is substantially above the industry average, arguably being around 0.0008 BTC per BTC-withdrawal.

At this place, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors who have not amassed a big number of cryptocurrencies yet.

Gopax’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.

***

Low trading fees are indeed very important for any prospective cryptocurrency investor. All of the following exchanges also – like the above exchange – have very low trading fees (some of them don’t even charge trading fees at all):

  • BaseFEX
  • Indodax
  • Liquid
  • Bybit
  • Coincheck
  • PrimeXBT
  • Bilaxy
  • Binance
  • CryptalDash
  • Crex24
  • Source: www.cryptowisser.com


    What is the best cryptocurrency exchange in India?

    What is the best cryptocurrency exchange in India?

    Vishal Gupta

    The number of cryptocurrency exchanges that operate from India has certainly dwindled and after Zebpay has shut shop, there are few options left for a fiat to crypto exchange. In the current scenario, only Wazirx makes sense.

    Certain initiatives that Wazirx has undertaken such as the P2P payment system and the listing of newer coins has helped it garner the interest of more investors.

    The liquidity is low atm and order processing takes some time. However, my experience so far has been good. Certain coins are difficult to buy on the exchange but the fact that they are listed shows that the fut…

    Loading…

    The number of cryptocurrency exchanges that operate from India has certainly dwindled and after Zebpay has shut shop, there are few options left for a fiat to crypto exchange. In the current scenario, only Wazirx makes sense.

    Certain initiatives that Wazirx has undertaken such as the P2P payment system and the listing of newer coins has helped it garner the interest of more investors.

    The liquidity is low atm and order processing takes some time. However, my experience so far has been good. Certain coins are difficult to buy on the exchange but the fact that they are listed shows that the future prospects for this exchange are bright.

    I don’t trust Indian exchanges as much anymore and intend to withdraw soon. The falling rupee has made me invest more, either way.

    Vishal writes✍️..

    Source: www.quora.com


    How to avoid scammers in the cryptocurrency space : The Standard

    How to avoid scammers in the cryptocurrency space : The Standard

  • Theophilus Mwangi 19th Apr 2020 18:21:25 GMT +0300
  • Cryptocurrencies are complicated, especially for new users. They are lightly regulated, highly volatile and there is not enough information out there to enlighten people wishing to venture into them, hence attracting scammers who take advantage of unknowing users.

    SEE ALSO: Benefits of cryptocurrencies

    Below are different ways of identifying scammers

  • The promise of making quick money- Scammers will entice you to ‘invest’ a certain amount of money to be making a huge chunk of it every day, week or month.
  • New traders without verifications- They create new accounts and take advantage of the one trade allowed before having to verify your identification to take advantage of unsuspecting traders.
  • Paying to join a ‘mining network’- You have probably already seen people put out adverts where you are asked to contribute a certain amount to join their mining network and make amount X daily, weekly or monthly.
  • Sending you links (malware) to help them recover ‘locked assets’- Scammers often send you links and malwares that they use to try get a backdoor entry into your wallet especially if you do not have a double step verification.
  • Fake bitcoin exchanges- These are platforms that purport to be crypto exchange platforms but in real sense are not, it is always advisable to use trusted wallets and platforms
  • For More of This and Other Stories, Grab Your Copy of the Standard Newspaper.  

    The writer is the COO at Point50capital. Twitter @Theo_mwangi

    Source: www.standardmedia.co.ke

    Author: Theophilus Mwangi


    Gopax – Reviews, Trading Fees & Cryptos (2020)

    Previous
    Cryptocurrency exchangesKraken vs Poloniex 2020: Best Cryptocurrency Exchange Comparison
    Next
    Cryptocurrency exchanges11 Exchanges to Buy Bitcoin in Saudi Arabia (2020)

    Similar Posts

    Leave a Reply

    Your email address will not be published. Required fields are marked *