GOPAX is a South Korean cryptocurrency exchange that is rapidly gaining popularity (especially in Korea and Asia). This surge in popularity is mainly due to the lack of trading commissions. However, this is only part of the popularity story, as GOPAX has many other attractive features.
There are exchanges that are not trustworthy mainly due to the lack of information about the company. This does not apply to GOPAX, which clearly displays all the necessary information to ensure the trust of customers.
As already mentioned, the main advantage of the exchange is that it does not offer a commission for trading. This is a very rare thing in an industry where most exchanges charge anywhere from 0.10% to 0.5% for each trade. GOPAX makes money from a small withdrawal fee.
The Korean crypto exchange accepts transfers from almost all Korean banks, and, even better, the Korean currency-won (KRW), which is among the supported assets, in addition to ETH, BTC and BCH. A total of 19 coins are traded against Vona, the rest are traded against BTC. There are about 30 pairs, among which are the main coins, including ETH, LTC, XLM, EOS, QYUM, OMG and many others.
The exchange also boasts a decent set of active markets and support for a variety of altcoins. According to CoinMarketRate, Bitcoin, Ripple, Ethereum, Stellar, and EOS / KRW are among the top five most traded pairs.
Since the exchange also has an office in the US, GOPAX is available in English, making it very accessible to the entire English-speaking audience. The black and white web interface of the exchange is very functional. It's not the most stylish interface, but it gives users easy access to all the most important tools.
This exchange also has an over-the-counter feature where you can buy and sell cryptocurrencies outside of the normal trading platform. The exchange lists the following six advantages of its OTC platform:
- personal trading support,
- market updates,
- high liquidity,
- competitive prices,
- quick calculations,
- multiple assets.
All these factors are very useful for a potential over-the-counter trader.
There is no leveraged trading or margin trading on the exchange.
There are no fees for deposits and trading on the exchange. The only minor fee is for withdrawals.
GOPAX's security policy is quite strict, and the exchange uses such features:
- Two-factor Authentication (2FA) requirement)
Use OTP solutions, such as Google Authenticator, to increase account security.
- Notification System
To make sure that the user is fully aware of the activities in their account, they are notified to you whenever the account is logged in, personal information is changed, funds are deposited / withdrawn, or an order is requested.
- Multi-level security system
GOPAX stores most of its virtual asset deposits in an offline wallet for reliable protection against various network attacks. Access to this wallet is divided and encrypted using a multi-level security system, which can only be accessed by selected personnel.
Round-the-clock monitoring of the deposit / withdrawal of funds GOPAX complies with international standards for combating money laundering (AML) and the financing of terrorism. GOPAX tracks suspicious activity using automated AML/CTF systems.
- Detection of hacks and protection against DDoS attacks
To ensure reliable protection, GOPAX always monitors malicious traffic and abnormal actions, using the latest DDoS protection technologies.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.