Beginner’s Guide to GO Exchange: Complete Review

GO.Exchange just launched on June 25th this 2019. Although the exchange has only recently opened it´s already attracting many users. The team behind it comes from no less than companies such as BofA Merrill Lynch, Goldman Sachs, Thomson Reuters, Curtiss-Wright, Siam Commercial, Kasikorn Bank as well as other notable companies.

Very nice interface, isn’t it?

GO.Exchange Review

GO.Exchange is a crypto only trading platform that offers 10 tradings pairs, despite the fact that it launched just on the 25th of June 2019. The exchange accepts traders from around the world and at the moment it receives positive reviews from the crypto community.

GO.Exchange Signup & Login

The registration is super fast, incredibly easy and you don’t need to enter any personal data like names, etc. to trade there.

  1. Fill in your E-Mail address.
  2. Enter a unique password
  3. Accept their User Agreement and Privacy Policy
  4. Press on Sign up

Now you will receive a confirmation mail. Open your mailbox press on the confirmation button in the mail and it will redirect you on GO.Exchange.

This is how it looks like this when you log in to your account. In order to be able to deposit coins on your account, you need to do the ID verification process. You can do it if you like it or pass it. Still the process only takes 30 minutes they promise and if it takes longer you can contact their support to handle this issue.

So you have done the ID verification process. You can finally start sending funds on your account. You can simply start trading, exchanging and/or investing in multiple digital currency pairs.

It is imperative that you take care during this process, if you send funds to a wrong address there is nothing that can be done to get them back. – Go Exchange

At the moment you can deposit and withdrawal in 6 different Cryptocurrencies. Bitcoin, Bitcoin Cash, Ethereum, Litecoin, OmiseGo, and USDC. There’s a seventh coin named GOT, which is the exchange’s own cryptocurrency. What does it do? Keep reading, I´ll tell you the features in this review as well.

How to Trade on GO.Exchange

If you have used any other cryptocurrency exchange before then trading on GO.Excange is honestly straight-forward. To get started, make sure you have deposited some funds – there are options for trading pairs in BTC, USDC, and ETH. When you have your funds, at the top right menu, select “Exchange” to load the trading screen. After that, on the top left box, you can select the coin you desire.

You have selected your coin and want to place an order. Take care if it´s a Limit or Market order you have selected. The difference is limit order giving you the opportunity to place an order and leave and if the price hits your target buy price it will buy and if you switch to market you get your selected coin for the market price.

GO.Exchange Competitions

For a young exchange like GO, it´s super competitive to hold competitions as they do right now for their user base.

Details about the competiton you can read here.

Another great chance for traders is the 50% discount on trading fees for 3 months when you hold 500 OMG tokens and on top of that 100% of the transaction fees the exchange collects will be used to burn OMG tokens.

Details about the competiton you can read here.

GO.Exchange Fees & Limits

The trading fees are 0.1% for both makers and takers and it´s free to deposit funds on your wallet. However, as long as the user does not complete the ID verification deposits and traders are not allowed.

Withdrawal fees:

CurrencyWithdrawal Fee
Bitcoin (BTC) 0.0005 BTC
Ethereum (ETH) 0.005 ETH
OmiseGO (OMG) 0.2 OMG
USD Coin (USDC) 0.65 USDC
Litecoin (LTC) 0.001 LTC

Is GO.Exchange Safe?

Apart from the fact that the exchange is relatively new, it appears to be a safe and secure trading exchange. They hold your funds on cold storage and they seem to be very professional in this business.

Pros

  • Many competitions which aren´t aimed for whales
  • Have their own exchange token: GOT
  • Have a strategic plan in place for the exchange to become top1
  • OmiseGO is behind this exchange
  • Funds are stored offline cold storage
  • Aim to be transparent in all facets of operations
  • Easy to use
  • Offers good and fast support
  • Good and Easy trading interface

Cons

  • Lack of liquidity (due launch a few days ago)
  • At the moment supporting only a few coins
  • Doesn´t offer phone support

GOT Token

GOT Token is their own exchange token, like BNB of Binance and KCS of KuCoin. GOT has a fixed supply of 10 billion. The only way to accumulate GOT is by trading on GO.Exchange. Currently, the distribution value is around $0.0001-$0.0002 per GOT. The distribution of GOT will happen once daily for the previous day trades. GOT can be used to vote for tokens to be listed on GO.Exchange.

You can read more about GOT Token here.

Official links about GO.Exchange

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Beginner’s Guide to GO Exchange: Complete Review

GO.Exchange just launched on June 25th this 2019. Although the exchange has only recently opened it´s already attracting many users. The team behind it com

Editor's Rating:
9.8

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