Inventors from South Korea have designed a lot of interesting things and use them with pleasure. Being open to the world, they take the best from it and come up with very interesting ideas then. For instance, Gopax backpack is one of such inventions you would be happy to own. It helps you to have a charged battery all the time at your disposal. It means that you are going to be always connected if you use it. There are a lot of things of this kind, widely used in that country we know little about. The same is true for the sphere of finances.
It is amazing how fast some cryptocurrency venues become popular. Nobody knew about these establishments yesterday and now their development and fast growth astonish all. This is what happened to South-Korean Gopax, which became known due to incredible progress. The company is headquartered in Seoul, the capital of the country. The secret of success is very simple. The founders established low fees for withdrawal and introduced zero fees on trading. This attracted attention of traders. Lack of fees was announced from the very start, so let us look if it is still so.
These cryptovenues develop under rather interesting conditions. Just several hours ago we found out about the decision of the court in South Korea to reject the decision of the court to stop providing services for crypto venue. Commercial banks are not satisfied with the fact that these financial establishments are subjected to bigger scrutiny from regulators if they cooperate with cryptocurrency venues. As you see, the problem exists in any society, even in South Korea with its positive attitude to non-state financial payment system. Top exchange faces almost no problems on the way with exception of separate cases similar to the one mentioned above. Cryptocurrency exchanges develop and thrive in such conditions. Gopax is one of such venues.
The company looks reputable and trusted by all. People who founded it are rather experienced in the sphere of cryptocurrencies therefore they introduce the best practices known in the industry. Also, the company arranges special seminars where data about crypto is shared. Gopax does not offer leverage trading.
There is really lack of fees on trading on the exchange, while the average fee per trade at the moment is about 0.25%. There is also no fee for depositing funds to the account of the platform. However, Gopax system still needs to earn on something. The enterprise should bring profit to develop and prosper. The customers need security so they want to invest to durable companies. Even the most enthusiastic people should have financial interest. Gopax currency exchange still charges for withdrawal but the fees are minimal. The amount is so low when some cryptocoins are transferred that it can even be called absurd. So the financial aspect is not clear enough.
The main Gopax currency is Korean fiat money – KRW. The customers can withdraw funds only using banking system and this can be rather problematic for foreign citizens who also want to be served on South Korean platform. The main problem of Korean services is its focus on inner market. Gopax service is developed with customers in Korea in mind. They involve Korean infrastructure while the rest face problems on this stage. The only fiat currency that is used on Gopax is Korean Won. Everything is designed so that foreigners are not able to take the most of it. The users have discovered this. If you look through reviews on Gopax exchange, English comments are hard to find. The situation is rather interesting. There are no restrictions for foreigners but there are no conditions for them, consequently, they are not able to use the service fully. In this way, they can log in at Gopax and use its functionality, but they encounter many obstacles when they deal with financial issues. And Gopax is all about financial issues. This is not just some small aspect. Almost everything is based on it.
In general, about 20 famous coins are traded on the site against the main fiat currency. As for the cryptos, numerous virtual coins are available for exchange. In general, the number of trading pairs on Gopax Coinmarketcap page is 63 at the moment of writing. They coins are traded against Ethereum, Litecoin, Bitcoin and other famous coins.
Though the site is convenient, the layout could be enhanced a little.
Gopax has a number of tools that can be used for traders’ convenience. Gopax cost estimator is one of them. Use the calculator and charts to avoid mistakes while trading. There are other alternatives as well such as DragonEX, Bitquick or Bitso, especially if you find the features there not presented at Gopax or you faced problems that are easily solved at those cryptovenues. All these platforms are good to trade digital coins securely. Usually unique tech plan is needed to launch such company just like Aidosmarket, for instance. Look for the places with a good potential to trade and earn money. Hopefully, this Gopax review will help you decide what exchange you need to start trading.