Hello guys! Today we are going to take a look at Gopax. This cryptocurrency exchange is quite well known due to its attractive interface and features.
Regardless of whether you are experienced trader or a novice, you can comfortably trade with Gopax due to their low fees, tightened security, and diverse cryptocurrency options.
Gopax allows you to trade on the move with their mobile app and helps you maximize your earnings through unique tools and supports staking on some tokens.
So, let’s find out why Gopax should be your next cryptocurrency trading exchange.
Introduction
Gopax, a prominent South Korean cryptocurrency exchange, was established in 2016.
The exchange’s name is an acronym and translates to Global Online Professional Assets Exchange which indicates that Gopax endeavors to build a digital asset trading platform with utmost professionalism.
Gopax quickly advanced to become one of Korea’s top exchanges, where it is currently the fifth biggest exchange in South Korea.
Know Quick Details About Gopax
| Feature | Details |
|---|---|
| Name | Gopax |
| Launch Year | 2016 |
| Country | South Korea |
| Platform Type | Cryptocurrency Exchange |
| Supported Cryptocurrencies | Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and more |
| Fees | Competitive trading fees (varies by transaction volume) |
| Security | Two-factor authentication (2FA), cold storage for assets |
| Mobile App | Available on both Android and iOS |
| Fiat Support | South Korean Won (KRW), USD |
| Customer Support | Email, FAQ, Live Chat |
| API Access | Available for professional traders and developers |
Some Popular Token Available On This Exchange
| Token Symbol | Token Name | Category | Key Use Case | Blockchain |
|---|---|---|---|---|
| BTC | Bitcoin | Cryptocurrency | Store of value, peer-to-peer transactions | Bitcoin |
| ETH | Ethereum | Cryptocurrency | Smart contracts, decentralized apps (dApps) | Ethereum |
| XRP | Ripple | Cryptocurrency | Cross-border payments, remittances | XRP Ledger |
| LTC | Litecoin | Cryptocurrency | Faster, low-cost peer-to-peer transactions | Litecoin |
| ADA | Cardano | Cryptocurrency | Smart contracts, decentralized finance (DeFi) | Cardano |
| DOT | Polkadot | Cryptocurrency | Interoperability between blockchains | Polkadot |
| LINK | Chainlink | Oracle Service | Decentralized oracles for smart contracts | Ethereum |
| SOL | Solana | Cryptocurrency | High-speed transactions, decentralized apps | Solana |
| DOGE | Dogecoin | Meme Coin | Peer-to-peer transactions, tipping | Dogecoin |
| XLM | Stellar | Cryptocurrency | Cross-border payments, financial inclusion | Stellar |
Gopax Trading View
There are different ‘views’ of trading in different exchanges. And there is no “this overview is the best” -view. It is up to the user to pick which trading view is to be selected. The views usually have in common a…well, they all depict an the order book or at least some part of it, a price chart of the chosen crypto currency and order history. They normally also have buy and sell-boxes.
And most importantly, before you select an exchange try to see whether the trading view is what you are looking for so that the exchange is suitable. Below is a picture of the trading view of Gopax.
Trading Fees on Gopax
Gopax Trading Fees
Cyrpto exchanges typically allow for two types of users: those who get charged when they execute a trade, and those who get charged for placing an order. Other exchanges utilize a simpler fee model that caters to all users regardless of their activity, and Gopax utilizes this model with a flat fee of 0.20% per trade. This is low, especially when the global average for industries is set at 0.25%.
Gopax Withdrawal Fees
With Gopax, a 0.002 BTC fee is charged for all BTC withdrawals. This fee is on the higher side when compared to the industry standard of 0.0008 BTC withdrawals.
Deposit Methods
New customers of Gopax can start trading easily as deposits can be made using wire transfers or credit cards.
US-investors
The trading terms of the exchange does not include US-investors among those that are restricted, however US-investors must conduct a separate evaluation as they always do about any issues that could be caused by their citizenship or residency.
OTC-function
This exchange also has an OTC-function, allowing users to trade cryptocurrency without using the platform’s trading systems any more. Their benefit are further complemented by the OTC inversment offer: personal trading assistance, market intelligence, great liquidity, low-cost services, rapid settlement , and a variety of other assets. These factors are very important for an OTC trader.
How to Start Trading on Gopax
Create an Account
Head to the GoPax website. Sign up for an account using an email and a password.
Verify Your Identity
Submit the required documents to meet the regulatory standards set forth and complete the KYC verification.
Deposit Funds
Deposit funds into your GoPax account by linking a bank account or using a credit card. Various deposit methods are supported on GoPax, including bank transfers and credit cards.
Explore the Platform
Browse different trading options available and get used to the GoPax user interface.
Place Your First Trade
In the trading section, select the cryptocurrency you wish to trade and set your order.
Monitor Your Investments
Use GoPax’s tools for real time monitoring and keep track of market trends and your investments.
Withdraw Funds
When withdrawing your earnings, head to the withdrawal section in order to transfer the funds to your bank or another wallet.
Gopax Services and Features
Spot Trading
Gopax’s platform allows users to easily conduct spot trading with different types of cryptocurrencies through which they can buy and sell directly while paying comparatively low charges.
Flat Trading Fees
Users only pay flat fees of 0.20% for both maker orders and taker orders which are relatively low and easy to understand.
Mobile Application
The platform is also accessible on Gopax’s mobile app available for Android and iOS devices enabling users to trade on the go.
Security Features
Gopax implements strict security protocols such as cold storage of crypto-assets and two-factor authentication (2FA).
Fiat & Cryptocurrency Deposits
Users can fund their accounts with many cryptocurrencies in addition to fiat currencies including KRW and USD.
Staking Services
Another feature offered by Gopax is the ability to stake certain tokens and get earning for holding those cryptocurrencies.
API Access
Advanced traders can make use of API support where they can easily integrate and customize their systems to enable algorithmic trading.
Here’s a table showing the supported countries and banned countries for Gopax :
| ✅ Supported Countries | ❌ Banned Countries |
|---|---|
| ✅ South Korea | ❌ United States |
| ✅ Japan | ❌ Canada |
| ✅ Singapore | ❌ Iran |
| ✅ Vietnam | ❌ North Korea |
| ✅ Hong Kong | ❌ Cuba |
| ✅ Taiwan | ❌ Syria |
| ✅ Malaysia | ❌ Afghanistan |
| ✅ Thailand | ❌ Yemen |
| ✅ Indonesia | ❌ Somalia |
Gopax PROS & CONS
| ✅ Pros | ❌ Cons |
|---|---|
| ✅ Low flat trading fees (0.20%) | ❌ Limited availability in some countries |
| ✅ User-friendly mobile app (iOS & Android) | ❌ High BTC withdrawal fees (0.002 BTC) |
| ✅ Strong security with 2FA & cold storage | ❌ Limited range of supported cryptocurrencies |
| ✅ Offers fiat & crypto deposits/withdrawals | ❌ No margin trading options |
| ✅ Staking available for select tokens | ❌ Customer support may be slow at times |
Is Gopax Secure?
Yes, Gopax is a safe cryptocurrency exchange. There are Gopax’s internal procedures in place that help users secure their funds as well as basic documentation.
Users are also enabled Two Factor Authentication (2FA) as an additional security measure before logging into their accounts, thus increasing security. Moreover, most of the users’ assets are held in cold storage, which keeps them disconnected from networks to reduce the risk of hacking.
The platform also adheres to industry standard of encryption protocols to protect users’ information. To summarize, Gopax puts a lot of effort in trying to enhance the safety of their Users’ accounts.
Gopax Customer Support
Gopax provides assistance and support to users experiencing problems or having questions.
The exchange offers various possibilities to contact support like email and live chat. Some answers to frequently asked questions and troubleshooting articles can be found in the help center on the company’s website.
Gopax customer service is mostly timely, but wait periods may change depending on the case and the amount of waiting subjects.
All in all, the support team is ready to assist users in overcoming all issues that may surface during account use – account management, deposit, withdrawal, among several others.
Conclusion
Gopax is a trustworthy and reputable cryptocurrency exchange with a simple interface for both newcomers and experienced traders.
Gopax is a good option for users in supported regions due to its low trading fees, high security measures including two-factor authentication and cold storage, and multiple cryptocurrencies.
The exchange may have some downsides, like high BTC withdrawal fees and limited customer service, but in general, the service is adequate for people concerned with the safety of their digital assets.
