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Topic: Godex.io - Anonymous Crypto Exchanger ♻️ No Registration & No Limits - page 3. (Read 3122 times)

legendary
Activity: 2380
Merit: 2369
Ok, but even if it's already calculated in the price difference it would be nice (and very useful) to know in advance what percentage is. Also because maybe you notice the price difference and you assume that is the cost of doing the trade while other people could simply decide to pass and use another service because they fear there could be some unpleasant surprise after they chose to proceed. And I would be part of the second group to be honest. Less than 3% for a NO KYC is actually good, I don't understand why they should try to hide it, I would do exactly the opposite, let people know it's less than 3%.
It’s not actually hidden, the percentage difference is show just alongside any selected coin. The part most users don’t get to understand is, what it actually means or what value is 2.6% or 3% and I’ll agree with you that, perhaps a template in the transaction analysis do spell that out to be what is being paid on fees for that transaction.
It shows a little more transparency and users of the service gets to know exactly what deal they are getting before executing the transaction.
Some means to buy trust!
I just checked BTC to USDT and the exchange rate was over 4%, but I had to manually calculate the difference between the current BTC price and the one I was getting from Godex. For me this system is not clear and confusing. For example this is how Robinhood shows it, and it's much more clear and understandable in my opinion:


It's very clear that there is a 0.45% commission. Of course I'm not saying Godex must have type of commissions but they should simply be clearly visible and understandable because, in my opinion, anything below 4.5% (maximum) is still acceptable.
legendary
Activity: 1554
Merit: 1139
Ok, but even if it's already calculated in the price difference it would be nice (and very useful) to know in advance what percentage is. Also because maybe you notice the price difference and you assume that is the cost of doing the trade while other people could simply decide to pass and use another service because they fear there could be some unpleasant surprise after they chose to proceed. And I would be part of the second group to be honest. Less than 3% for a NO KYC is actually good, I don't understand why they should try to hide it, I would do exactly the opposite, let people know it's less than 3%.
It’s not actually hidden, the percentage difference is show just alongside any selected coin. The part most users don’t get to understand is, what it actually means or what value is 2.6% or 3% and I’ll agree with you that, perhaps a template in the transaction analysis do spell that out to be what is being paid on fees for that transaction.
It shows a little more transparency and users of the service gets to know exactly what deal they are getting before executing the transaction.
Some means to buy trust!

Previously, I tried to see the exchange rate of all the coins listed on Godex.io, but when using the sort filter, both ascending and descending, the ordered list did not change according to the desired filter.

Is the sort feature not working yet?
The filter as I find it doesn’t arrange coins in ascending or descending order, none of those do apply here. What applies basically is, the valuation as per 24hrs changes, market cap, price and the rest of those parameters being valued in BTC/USDT. It’s the filter that works on that table.
legendary
Activity: 2380
Merit: 2369
  • You don't clarify to the user what the percentage of the amount will be paid as a fee. I've been searching this for a couple of minutes, and I couldn't find the pricing of fixed and variable rates. (Not even in the FAQ.)
I came here to say exactly the same thing: I was looking all over the website for the commission fees but I couldn't find any info and, to me, that is kind of a big problem because I think users should clearly know in advance how much they are going to pay. And for sure many users without this info won't even try the service.
Their fee seems to be calculated in the price difference. For example, at the moment, the price of Ethereum on their platform is $2436 (floating rate) while on CMC is $2502. The difference is a little less than 3% and that could be the exchangers fee.
This is still competitive, considering the withdrawal fee from major CEXs, plus KYC is not required.
Ok, but even if it's already calculated in the price difference it would be nice (and very useful) to know in advance what percentage is. Also because maybe you notice the price difference and you assume that is the cost of doing the trade while other people could simply decide to pass and use another service because they fear there could be some unpleasant surprise after they chose to proceed. And I would be part of the second group to be honest. Less than 3% for a NO KYC is actually good, I don't understand why they should try to hide it, I would do exactly the opposite, let people know it's less than 3%.
legendary
Activity: 1554
Merit: 1139
Their fee seems to be calculated in the price difference. For example, at the moment, the price of Ethereum on their platform is $2436 (floating rate) while on CMC is $2502. The difference is a little less than 3% and that could be the exchangers fee.
That’s actually what it is haven’t compared the price with LTC. It’s always about the 3% increase, not up to actually as it ranges between 2.65%+.
While LTC was priced at $65.9 on CMC, Godex.io had it at $65.83 which brings our difference to be just $0.07 which is so low.
Better still, you can switch between floating and fixed fee to stabilize the fee as you met it within a 30minutes transaction time frame. It’s a good way to deal with volatility and price fluctuations.
legendary
Activity: 3416
Merit: 3419
Crypto Swap Exchange
  • You don't clarify to the user what the percentage of the amount will be paid as a fee. I've been searching this for a couple of minutes, and I couldn't find the pricing of fixed and variable rates. (Not even in the FAQ.)
I came here to say exactly the same thing: I was looking all over the website for the commission fees but I couldn't find any info and, to me, that is kind of a big problem because I think users should clearly know in advance how much they are going to pay. And for sure many users without this info won't even try the service.
Their fee seems to be calculated in the price difference. For example, at the moment, the price of Ethereum on their platform is $2436 (floating rate) while on CMC is $2502. The difference is a little less than 3% and that could be the exchangers fee.
This is still competitive, considering the withdrawal fee from major CEXs, plus KYC is not required.
legendary
Activity: 2380
Merit: 2369
  • You don't clarify to the user what the percentage of the amount will be paid as a fee. I've been searching this for a couple of minutes, and I couldn't find the pricing of fixed and variable rates. (Not even in the FAQ.)
I came here to say exactly the same thing: I was looking all over the website for the commission fees but I couldn't find any info and, to me, that is kind of a big problem because I think users should clearly know in advance how much they are going to pay. And for sure many users without this info won't even try the service.
legendary
Activity: 2296
Merit: 2892
#SWGT CERTIK Audited
Previously, I tried to see the exchange rate of all the coins listed on Godex.io, but when using the sort filter, both ascending and descending, the ordered list did not change according to the desired filter.

Is the sort feature not working yet?



legendary
Activity: 2646
Merit: 3902


Maybe theyre trying to dissuade smaller-time traders from overwhelming their system.  Or perhaps they got other motivations for setting the bar so high but it's a bit of a bummer especially with Godex still being kinda unknown.  People are rightly wary of new services like this, so letting people start small would make sense while they builds up trust. 

This could be done by imposing high fees or delaying withdrawals in order to reduce fees but since Godex.io has been operating for many years, this might be their way. I hope we can get a minimum of $50, the service is good and supports almost all cryptocurrencies.
legendary
Activity: 1624
Merit: 2594
Top Crypto Casino
Indeed, $160 isn't that much, but I'm not sure where they're going with this. On a technical level, it probably doesn't impact their fees or operations much whether folks are trading $160 versus $16.  The fees likely stay the same no matter the trade size. 

Maybe theyre trying to dissuade smaller-time traders from overwhelming their system.  Or perhaps they got other motivations for setting the bar so high but it's a bit of a bummer especially with Godex still being kinda unknown.  People are rightly wary of new services like this, so letting people start small would make sense while they builds up trust. 
legendary
Activity: 3416
Merit: 3419
Crypto Swap Exchange
However, the minimum limit will force you to deposit more than $160 in crypto I don't think all of us could afford it I'm sure only customers would use this service are big companies.
$160 is not a large amount and this does not mean that the exchange is only for big businesses.
I would certainly support the proposal to consider reducing the minimum limit. So, for example, if I only need a certain amount of some currency, I am forced to buy more than I need, and later I have to look again for a solution of what to do with that excess.
legendary
Activity: 3374
Merit: 3095
BTC price road to $80k
Hmm, I've seen many posts regarding the same point on this page, well for an average trader minimum limits should be constant like we see on the centralized platforms where $10 is a standard limit for every pair, I'm not saying it should be $10 here as well but in order to attract more traders the minimum trade amount should be as lower as possible.

I'll try some pairs soon, to check the fees structure as well.

About the limit, it seems it's around $160 no changes yet on the minimum but I hope they should decrease the minimum limit there's a similar service offer here on the forum but the minimum limit they offer is below $50 which is better the only problem is that they have AML policy that is the good thing here on Godex no AML means no KYC needed. However, the minimum limit will force you to deposit more than $160 in crypto I don't think all of us could afford it I'm sure only customers would use this service are big companies.
I hope Godex change the minimum limit because there are many small traders out there who looking for exchanges like this with no KYC with lower minimum limit.
legendary
Activity: 1666
Merit: 1222
Top Crypto Casino
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legendary
Activity: 1568
Merit: 6660
bitcoincleanup.com / bitmixlist.org
  • You don't clarify to the user what the percentage of the amount will be paid as a fee. I've been searching this for a couple of minutes, and I couldn't find the pricing of fixed and variable rates. (Not even in the FAQ.)

This is the easiest issue to address so I would suggest to the OP that they take care of this as soon as possible. The other issues might require a lot of man-hours of programming to fix, so I guess we shouldn't be surprised if we don't see those changes implemented until at least October. Even the reduction of the minimum trade amount, because maybe that would eat into their fees.
legendary
Activity: 1666
Merit: 1222
Top Crypto Casino
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legendary
Activity: 2436
Merit: 1215
I think those values are way to high to average users.  Can't this be changed?


Although they fix an average of $160 as a minimum for most trading pairs, most of the complaints about them were not due to that.

This platform is a good option for those who want to search for a trading pair that may not be available on most platforms, so changing the average minimum to $50 will increase the number of transactions.


I also agree that the minimum exchange value should be way less. I tried exchanging 0.001 BTC (around $60) and I couldn't do it. It says that minimum is 0.003 BTC. That's OK for a well-established exchange, but for a new exchange I would rather test it with 50 bucks or so and if that goes well, I would be OK to exchange more.

Also, when choosing a currency it's pretty laggy. It takes about a second or two to open a menu with currencies. Maybe it's because there is a lot of currencies offered, but maybe the solution is not to display any currency until a user start typing the name of the currency.
legendary
Activity: 966
Merit: 1042
#SWGT CERTIK Audited
I think it needs to be edited or added to the FAQs, how much exactly the minimum limit can be traded or swapped?

Hmm, I've seen many posts regarding the same point on this page, well for an average trader minimum limits should be constant like we see on the centralized platforms where $10 is a standard limit for every pair, I'm not saying it should be $10 here as well but in order to attract more traders the minimum trade amount should be as lower as possible.

I'll try some pairs soon, to check the fees structure as well.
legendary
Activity: 1666
Merit: 1222
Top Crypto Casino
Just a quick review, in terms of the user interface its user friendly and its easy to navigate the platform without too much hassle also I like being creative in the part "How it works" it gives an explanation and imagery at the same time for the viewers, also the website is responsive, I tried to exchange some of my BTC into other coins in terms of being responsive with the coin you choose it takes like almost 5 - 7 seconds before it loads the specific coin I choose well in my part its not too much an issue, next is once you choose a coin there's a network under this I guess its ideal if you add a plain text or header text with it as indicator to choose a network. Also it detects an invalid address which is good too. In terms of transaction I don't have a trouble yet beside on the minimum transaction needed.
legendary
Activity: 2646
Merit: 3902
I think those values are way to high to average users.  Can't this be changed?


Although they fix an average of $160 as a minimum for most trading pairs, most of the complaints about them were not due to that.

This platform is a good option for those who want to search for a trading pair that may not be available on most platforms, so changing the average minimum to $50 will increase the number of transactions.
legendary
Activity: 3472
Merit: 10611
It is a nice design and the fact that the platform supports so many different coins is a very good advantage over the competitors in this category. I specifically liked the Tether support on all the chains it exists on.

But like all of them this platform has the same disadvantage which is the offered exchange rates, which is the "hidden fee" for using such services. Fore example right now the bitcoin exchange rate is between $2000 and $3000 below the market value depending on the amount of bitcoin you want to sell (the smaller btc the bigger the gap).

For example on the other platform that is advertising on this forum as well exchanging 0.01 bitcoin would give you $598 (current price is 60k so $2 fee) but on Godex it will give you $577 ($23 fee). That is too expensive.
legendary
Activity: 1512
Merit: 7340
Farewell, Leo
The UI looks good, as a typical quick coin-swap service. However, I'm disappointed about the following:

  • You don't accept LN.
  • You generally don't accept small amounts. The min BTC deposit has to be 0.003, and the min XMR deposit has to be 1. Your main competitor (eXch) allows exchanging negligible amounts.
  • You don't clarify to the user what the percentage of the amount will be paid as a fee. I've been searching this for a couple of minutes, and I couldn't find the pricing of fixed and variable rates. (Not even in the FAQ.)
  • You seem to me a little bit more pricey. For example, with 1 BTC you get 939 LTC in your platform, whereas in your competitor I could get 949, which is 1% of the amount, but still, quite a lot for large amounts. (However, you do charge less for XMR, and that's a good thing.)

That being said, I wish you the best.  Smiley
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