Godex Exchange link: Godex.io
Introducing Godex, a privacy-focused crypto exchange focused on security and transparency, aims to provide an innovative experience for its users. But is Godex best for you? For that, you need to go through the overall review.
Godex Overview
Godex is a privacy-focused crypto exchange that allows users to trade cryptocurrencies and tokens in a secure and transparent environment. Godex offers its users the ability to swap coins with over 300 available altcoins at a fixed rate. Godex.io is located in Seychelles and was founded there in 2018 after a successful bitcoin bull run.
Godex.io’s developers deeply believe in blockchain and cryptocurrencies as a means of payment. Their work aims to make their services as simple, fast, and reliable as possible for customers, and they know that users want things fast, cheap, and with zero complications on the way.
In light of cryptocurrency’s privacy and personal nature, Godex’s exchange platform decided against collecting and storing private user data. In this way, Godex takes care of the client’s right to privacy and financial security.
There is no set limit on the total amount of cryptocurrency you can trade on the platform. However, there are low minimums, but they are unlikely to affect most traders. It is one of the unique features that Godex offers compared to its competitors.
Godex.io specifies that to trade on its platform, you must have crypto. However, if you don’t have any crypto to begin with, you can take advantage of the platform’s Fiat on-ramps. It is an exchange where you can deposit cash, buy crypto from it, and transfer it to another exchange.
Features of Godex
Supported Cryptocurrencies
Godex offers an impressive variety of cryptocurrencies, with nearly 200 coins available for trading. Additionally, Godex supports practically every popular cryptocurrency, including Bitcoin and Ethereum, as well as some more exotic cryptocurrency coins.
Trading on Godex is Easy
Godex offers an easy procedure for exchanging cryptocurrencies. The user simply has to select the cryptocurrency they want to sell in return for the coin they want to buy.
Godex doesn’t put a cap on orders or any additional advanced order types. Users are given a fixed price at which you will initiate their trade.
For instance, suppose you want to purchase Zcash with 0.1 BTC through Godex. Before you initiate the trading process, make sure you have a wallet ready for receiving your exchanged coin( in this case, ZEC). Once you initiate the trading process, Godex will generate an address to which you’re supposed to send BTC.
Fixed Cryptocurrency Rates
The challenge faced by the team behind Godex is the volatility of cryptocurrency value. And the team has worked towards it to fix it. The cryptocurrency market is unpredictable, and it can be tough to predict prices, and you may get a lousy entry price.
For instance, Suppose you wish to swap Bitcoin for DogeCoins, and you initiate a trade; after only a few moments of trading, the value of DogeCoins rises or falls by 8%, and your swap becomes unprofitable by merely clicking the exchange button.
To fix this price fluctuation, the team at Godex introduced a price locking mechanism that ensures you the price before you initiate the trading procedure. Godex takes a front foot to take all the risks to ensure you’re covered in an ideal and steady transaction.
Privacy-Focused Cryptocurrency Swaps
If you’re familiar with the functioning of the blockchain, then you will be conscious that all trades through Godex.io are private and transparent. Godex offers you to trade without signing up on their platform neither the platform asks you to submit information about your KYC.
The only precondition to making a transaction is that you own coins and has control over your respective wallets. If you satisfy these basic rules, you can make any trade on the exchange.
Predictions for Cryptocurrency
If you are considering placing a significant portion of your savings into crypto coins but are uncertain whether to invest today or wait a while, we recommend you check out the Godex.io blog. The Godex development team, on regular intervals, keeps sharing their deep insight on the price predictions of many coins on their blog.
Here, you will get a complete tour of the coin’s future and many technical tips to help determine whether now is a suitable time to buy the coins. Experienced professionals share this analysis, but we recommend that you make your calculations before investing in any coins.
Advanced Algorithm
Godex’s platform is able to add over 300 altcoins at the same rate or better as the world’s biggest exchanges. Godex is run by a trading algorithm that works by scanning prices on various crypto exchanges such as Binance and others.
If the algorithm can find a greater price than the amount indicated, then the platform starts importing the coin and offer you the Godex platform. It’s carried out without a hitch, and the algorithm continuously scans larger exchanges to update the exchange price. It is convenient to swap coins for several exchanges without prior registration.
Referral Program
Godex.io uses a referral program that allows users to earn remuneration by referring new users to the platform. Currently, the platform offers up to 0.45% commission on every successful trade the referred users initiate. Additionally, the commission tends to increase by 0.05% on each successful 50 BTC trade referred user makes and can reach a maximum level of 0.60%.
Privacy
Godex takes confidentiality very seriously for many cryptocurrency users. They also strive to cater to a privacy-oriented audience when facilitating trading on the Godex exchange platform. One of the platform’s best features is that it provides integrated addresses for Monero XMR, 3.36%, and Zcash ZEC, -1.08%.
What are the Trading Fees on Godex?
Whenever you place an order, the platform incurs a processing fee. The trading fee is a percentage of the trade order’s value. Some exchanges divide between takers and makers. Takers are the ones who obtain the pre-existing order from the order book.
At Godex.io, all that’s available is a purchase interface and no order books. The maker-taker distinction thus becomes obsolete at Godex.io. Instead, it charges flat fees, making both makers and takes contribute the same fee. Therein, a flat fee of 1.50 is produced. These flat fees are considered to be very high.
Where the average fee of various markets for makers and takers are set at 0.221% and 0.178%, Godex takes 1.50% from both sides.
Does Godex Charge any Withdrawal Fee?
The exchange doesn’t charge a fee when you withdraw funds from your account. The only fee you’ll have to pay is the cryptocurrency transfer network fee.
This network fee is used to compensate the miners for their blockchain services. Depending upon how congested the network is, this fee fluctuates daily.
How Long Does it Take to Complete A Payment on Godex?
Godex.io is currently among the exchanges with the fastest transaction processing speed, with the order processing time varying from 5 to 30 minutes.
Since it’s largely dependent on confirmation speed in a decentralized network, for instance, an amount exceeding 1 BTC will take more time than the amount less than that price. Users can be assured because secure servers and modern secured protocols provide this reliable service.
Is Godex Safe for the Darknet Market?
It’s 100% safe to conduct a crypto exchange with Godex. Godex has hundreds of reviews from satisfied clients on Trustpilot that give it a rating of 4.8 out of 5. Most users praise the crypto exchange’s responsiveness, a vast selection of digital assets, and no KYC requirements.
Godex utilizes SSL certificates to secure its servers and systems from DDoS attacks, and it has a robust offline security system, preventing accounts and other data from being accessed by hackers.
To surf these websites using your VPN is an outstanding substitute for your location not showing up on these websites. Additionally, it states that they remove all transaction data from their servers within one week.
So without a doubt, Godex is excellent for anyone who wants to use it for darknet activities.