Review on GOPAX by Olugbenga Ajayi
Gopax exchange is a secure and reliable exchange
Gopax is a South Korean exchange established in 2016. The exchange has more than 27 cryptocurencies on its market. It accepts only one flat currency which is the KRW. The exchange is known for fast settlement, good security and OTC trading.
Gopax exchange is evidently an exchange for the South Korean as can be seen on the platform. The website is designed with Korean language although it can also be read in English language.
For deposit or withdrawal, it accepts both flat and digital assets. Hence it supports bank wire, credit card and crypto currency. The exchange best selling points is the transaction fee which is far below the industry standard. Also the withdrawal fee is so low that it charges only one fifth of what most exchanges.
As security of assets is also key, the exchange use many security architecture on its platform like two factors authentication and many more. It is good to note that this exchange has never been hacked.
However, unlike most other exchanges, Gopax does not have a native coin and it did not support margin trading.
Pros
- The exchange Gopax is a multi crypto exchange. It supports Bitcoin and many other major digital currencies
- The transaction fee charged is far lower than other exchange
- The exchange is protected with SSL encryption and Ddos protection
- Customer support is very good
- It requires KYC and AML to filter out fraudulent traders
- It uses two factor authentication
- It support OTC trading
Cons
- It does not offer margin trading
- There is no information about being regulated or licensed
- For a multi crypto exchange like this one will expect the website to be designed to suit global community of traders
