Topic: Godex.io - Anonymous Crypto Exchanger ♻️ No Registration & No Limits - page 2. (Read 3122 times)

And honestly I think it's better that way. I am not very comfortable leaving my coins on a centralized exchange when the only purpose I try to use one is to get my coins quickly turned into an altcoin.

Coin swap platforms usually exchange in bulk - not with small trades, so Lightning Network support here does not really make sense. It was not designed for trades like hundreds of dollars being on a regular basis. I mean it's technically possible, but most people would not prefer to do it that way, continuously.

That is the case for regular centralized exchanges where you have an account and whatever coins you have stays in that account with your balance changing with each trade. In these platforms your trade and deposit and withdrawal are 3 different operations that take place separate from each other.
When you make a deposit or a withdrawal you have to define the network you want to use. For example you define that you want to withdraw your tethers on Tron network. But when you trade BTC/USDT it is just one market and it doesn't matter which network the Tether belongs to.

Exchanges like Godex are more of a "coin swap" platforms than regular exchanges. In these platforms the 3 operations I mentioned above take place in a single step. So you have to define your networks right then and there.

Someone should help me here,

Is it entirely necessary that you get to select a preferred network while swapping coin on an exchange?
I don’t think so! Coin swaps are done within an exchange doesn’t require you having to choose what network the swap would be done on. Most swaps are done at the expense of exchangers owned coins although, Godex.io haven’t commented on that.

At the point of exchangers, what’s applicable is, you having to pay the fees and they do the rest efficiently and swiftly.

my review

i try to use finally godex.io

BAD
- i check my preferred one - missing - not present bitcoin lightining network - this is bad
in my opinion today is very important have this one

GOOD
- excellent trustpilot score
- https://godex.io/affiliate-program good affiliate program
- huuuuge number of coins 894 very nice
- api ok, good developer portal https://api.godex.io/

-- update when i try to do exchange --

I've tried the site with simple performance like smoothness and some other features many times before and I've mentioned a few words about it before, I'm actually also checking the others comments as well, Anyway Today I tried it with a transaction to test the system properly and here's a short summary based on my experience about Godex, I'll add some suggestion in the end as well.

UI & Exchange Process

First of all, the UI is for sure good. It's quite dark, and I couldn't find any option for switching between dark and light modes. It's set to dark by default, which is cool no complaints there, but having the option to switch modes could be a nice addition.

There are many languages supported, but unfortunately, Urdu isn't one of them, haha! Still, this is the first time I've seen such a wide variety of languages its around 18 different ones are supported. Since I know a bit of Arabic, it feels quite connecting.

Moving the Exchange procedure is quite similar to the others, You need to choose the pair and then the amount then go for the exchange where you need to deposit after the required confirmation the exchange process begins, and the exchange time depends on the type of Blockchain you are using for the transaction, they've mentioned 5 to 30 mins but here in my case the transaction took much higher time, it was almost 9 minutes from my side for 1st confirmation and on the first refresh what I got is deposit time expired and for the exchange, I've used the BTC to ICP and with minimum exchange here the amount I was receiving is in SS and the real-time conversation rates as well in USD.


So Moving next to the transaction process after the deposit expired pop-up, on refresh there was nothing changed after waiting a couple of minutes I tried to contact support I got their support mail link, and on support, I'll comment further in my review at the end the transaction failed and I got my refund instantly and the whole process including the 1st confirmation to contacting support and getting a refund confirmation mail it took 2 hours + in confirmation it took 1 hour that was too long and after that, I've asked to contact on the support mail for the additional information. But there are some bugs I've found I would like to mention during this process.

✔️ Occasionally, when I refresh the page, the support icon at the bottom disappears, but after refreshing again, it reappears.
✔️ After several refreshes or a delayed one, it sometimes shows a 'Page Not Found 404' error.
✔️ Additionally, on the exchange details and deposit page, there's no exchange rate displayed for the pair used in the trade. Let me share a screenshot I've taken there."


That's the end of my first transaction story, hmm, it was unsuccessful but the support response made me not worry about anything and this was the fastest refund ever haha. But the exchange fail remains exchange fail I don't know the reason they've mentioned that "this order is mentioned by risk control system". I'll give it a try again when needed and quote them here too.

Support Team & System

I'm really impressed with the support team. Even though my trade wasn’t successful, I’d still rate the support system 9.5/10, both for the bot and via contact email. I’m not sure if they always perform at this level, or if it was just exceptional this time, but they responded to my email within 5 minutes and to the bot query in about 3 minutes. As I mentioned earlier, it took over 2 hours in total, but for the support when I contacted them by email, they resolved the issue in around 20 minutes. In the first email, they explained the reason for the problem, and in the next one, they sent me the transaction hash ID.

+ Points, Suggestions & Bugs in short

✔️ They support a large number of coins I've tried all possible pairs in which I trade mostly, and they've got all of them.
✔️ Their Support system is Superb
⚠️ I'm not sure why in (godex Stablecoins Cryptocurrency List) there USDP only.
⚠️ In (Most Popular Cryptocurrencies To Invest In) why Bitcoin is ranked 3rd Volume is higher and market cap as well still.
⚠️ Why the Filters in the Exchange rates are not working not any of them is working (Already mentioned by a user as well).
▶ There should be a proper reserves chart for every coin, (If there is already I cant see it on the main pages please mention if they have).
▶ In routine the site is working smoothly but due to so many pages it shows 404 error least today I've used it for a decent time I've got this error 3 to 4 times while redirecting to different pages.
▶ Another Frequent error is server error.
▶ For L2s there are some other options to explore as well, I'm not saying all of them but at least a few of them are worthy to be considered.
▶ The About Us page needs to be updated as some information is not up-to-date.
▶ The trade amount should be lower $160 is might be not a big deal for some but for many of the users it is.

Here is an SS I took while exploring the page speed tests for PC and Smartphone both using https://pagespeed.web.dev/ for the rest you guys can check yourself for a better view I'll quote the SS below.


I'll add a short review after more testing and another transaction for sure, it needs much more time to test it in full and haha I'm still out of town.

Everything should be much more declared on the website. This seems a bit tricky, many will register for the free 0.005, while it will only be determined later that the bonus is much more difficult to achieve.
The first affiliate payment can only be a minimum of 0.015, it is also unclear whether this is the amount with or without the bonus.

The sign up bonus is for the affiliate program, I believe you should at least referral at least one person to be able to withdrawal the bonus,  this makes total sense.

But term is should really be more clear.

It would have been such a honeypot just for anyone to come have their scoop, with several alts created on a daily and eventually bring Godex.io to the mud which we wouldn’t like to see it in, should the bonus have been just about registrations. I doubt that is all that is to know or to be done and earn the bonus offer on registration affiliates.

Who does that, certainly not Godex.io
Perhaps the support might have to clear on that but, that would have been such a terrible way to offer bonuses.

I also assumed so because when I tried to sign up, there was no signup bonus.

If it has expired, Godex would be better off revising the text regarding the signup bonus displayed on the https://godex.io/affiliate-program.



Or maybe there are other conditions for the signup bonus? for example, if you already have several affiliate members who make transactions, you will get a signup bonus plus 0.6% of each transaction.

OK, so, I decided to test the exchange again by exchanging ETH on Arbitrum to SOL on Solana. The process is pretty straightforward, but I had a problem when trying to copy the address that I was supposed to send ETH. The Copy button simply didn't work. I copied the address "by hand" (selecting the address and then copy&paste), but someone should check out why the Copy button doesn't work.



I'm using a Windows machine with Edge as my browser. If there is something else needed, I'm available through DM.

Other than that, I'm pleased with how the DEX is working. It takes some time for a trade to go through, but I'm OK with it.

EDIT: OK, maybe I should have waited for the trade to go through. The trade itself finished and I got SOL on my wallet, but after a pretty long period I got error saying only "So sorry, error server". That's not something a user wants to see when trading cryptocurrencies. It offers to contact support, but since I got SOL on my wallet, I didn't want to bother them.

If you choose the floating one it's not stable it changes depending on the market price the result might be lower or higher than 4%.
The offer is the same as other instant exchanges/swaps they put this option if the customers want to exchange on floating or fixed.
You can just choose the fixed one if you are afraid of exchanging different rates.

About your question all coins have the same exchange rate it depends on what you choose floating or fixed if you choose fixed then I think almost all are fixed at a 4% rate than the current market price.

I think the only thing they don't have currently is the price in USDT/USD we need to calculate it manually if it follows the 4% I hope Godex should add something that shows the current assets we exchange in USDT/USD to make this thing clear.

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This one should be easy to calculate by the operators, assuming that the reserves can adequately cover the order. Which is the case for most orders by the way, unless exotic pairs are being traded. So I'm guessing, and this is a wild ballpark estimate, that it should just take a few hours for an average trade to be done, no? Maybe sooner, if it's something like BTC <=> ETH or BTC <=> XMR.

I had a little more time and played around with Godex website a bit. As I mentioned earlier the website looks clean and is quite self-explanatory (at least if you're a crypto native).

I wanted to exchange some ETH for BTC and the first thing I saw was that you're offering Ethereum L2's. That's quite cool, since fees on Ethereum mainnet are still quite high some times.



You could offer other L2's like Base, Blast or Polygon, but Arbitrum will do the trick for most ppl I guess. I suggest you to check out Jumper (the most popular Ethereum L1/L2 solution) to get some input on L2 volumes and possible L2 integrations in the future.

And then I encountered something I didn't really like: I don't see the rate I am getting, if I do a trade on your platform. So what's missing?

- rate (before I do the trade) / platform fees are missing
- minimum exchange amount for each crypto is missing
- current estimated network fee is missing
- Slippage / price impact is missing (whats the biggest amount i can trade? can I exchange 100 ETH or will i break something and get a horrible rate?)
- time estimate (how long does it take, until i have the funds in my wallet?)



I just get a BTC amount and have to calculate it myself and in 2024 that's quite unfortunate. I doubt many customers will use the service, if they have to calculate fees/prices themselves.

Even if I proceed and click the exchange button, there is still no information on platform fees, just a small button giving me the info on the rate:



If I compare that rate to the current CMC, I only see its lower.



Source: CMC, calculator

Maybe that's something you can fix. I mean the website is really smooth and looks nice, but it needs a more documentation if you want to attract more customers.

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FAQ section:



Minimum amounts should be added here too. In addition to that the FAQ on platform fees is completely missing.

I smell a potential for arbitrage! 

But there is one thing I'd like to comment. In the affiliate section, the BTC values do not have a number next to them when the amount it 0. So instead of saying 0 BTC for instance it says "BTC" by itself for the available balance.

Also I'm guessing the welcome bonus has expired or lapsed or something like that, cause I don't see it anywhere. Makes sense, because Bitcoin has went up in price so much.

You see, this is the problem in my opinion: the user shouldn't do the calculation, it should simply be shown automatically because today could be 4%, tomorrow could be 3% or 5% depending on who knows what. It would be like purchasing products on Amazon and you don't see the total you're going to pay, just the price for the single items, if you want to know the total you should calculate it by yourself. Would it make sense? I don't think so.

And another question: do all the coins have the same exchange rate or not? Because, again, if I want to swap multiple coins I should calculate every single of them to make sure the exchange rate is acceptable.

Regardless of Godex, it would be good if you looked at the current value on different exchanges before each major swap. Even the largest exchanges do not always offer the same price, there are other parameters.
For example, look at the difference between Binance and Bybit right now

I think he meant that the rate or the price from Godex is not as high as other instant exchanges listed in the image he provided, meaning it's still an acceptable rate and not only Godex exchange that offers the same rate.
You can check the link he provided but Godex is not listed yet on that platform called bestchange so you need to take the percentage manually from the current Bitcoin price and compare them to other exchanges he provided from the image above.

Based on my calculation the rate is around 4% fixed or floating rate.

Ok, and how do I immediately see that difference? Did I miss something? Or you're telling me that I should open CMC, check the price there, check the price on Godex and then manually calculating the difference, and then calculate also the percentage?

There is nothing hidden. The difference between the best exchange rate (at least according to CMC) and the one offered by Godex is their profit including all transaction costs. I assume that there are other costs, although they most likely have special partner conditions with other exchanges.
3%-4% is certainly an acceptable rate, look at the deviations of some other instant exchangers, for example, (While the current value of Bitcoin is $56500) https://www.bestchange.com/bitcoin-to-tether-erc20.html