Investing in cryptocurrencies can seem like a complex and intimidating venture at first. We’re frequently reading news about scams, fraud, and cryptocurrencies crushing. While it is true that scams are happening and people are losing money on fraudulent exchanges, there has never been a better time to invest in cryptos. Reliable cryptocurrency platforms have made trading simpler and safer with security upgrades.
Best Cryptocurrency Converter in 2021. How to Use Godex.io?
Irrespective of your level in trading, you should be looking for a cryptocurrency converter that allows you to trade frequently, purchase and hold long term, use it with ease, and provide you with anonymity and privacy. We have taken the trouble to research and bring you the best cryptocurrency converters of 2021.
Godex.io is an online crypto exchange service provider that has an outstanding reputation for fast, safe, and anonymous transactions. Godex.io provides you with a wide range of cryptocurrencies to trade in, and the list is constantly being updated. With over 200 cryptos listed, Godex supports major coins such as Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
The anonymity that Godex provides is guaranteed from the moment you start using the platform. Unlike other cryptocurrency exchanges, you will not be asked for your personal information to begin trading. Besides, trading on Godex.io has no limit, which means you can convert as many coins as you wish.
With a 4.8-star rating on Trustpilot, Godex seems to have a good standing with its clients. Users applaud it for being a fully automated exchange with no room for human error. The system has excellent customer support that is available 24/7. The support staff is always ready to assist you with any issue you might have concerning your trade. Whether you’re experiencing delays or a transaction has bounced, Godex support will sort it out in no time.
Godex has an affiliate program that enables its traders to enjoy a welcome bonus worth 0.005 BTC in addition to a 0.6% of every transaction of the referral.
2.How it Works
Godex is a simple, transparent, and fast cryptocurrency converter. In five quick steps, you will initiate and complete converting your Bitcoin into an altcoin of your choice. Without the tiresome registration process, Godex works as follows.
Choosing a currency
To initiate the cryptocurrency conversion process, you’ll need to select a currency you wish to convert in the “You send” field from a drop-down list. In the “You get” field, enter the cryptocurrency you would like to convert the Bitcoin into. Click on “Exchange” to proceed.
Enter wallet address
You’ll then fill in the address of your target currency in the “Enter your address” field. Godex also requests for the “Sender address”, which is the address of the currency you’re converting. Click on “Exchange”.
Godex will then generate a deposit address of the currency you’re converting. You can now send the desired amount of cryptocurrencies. Godex receives the coins then initiates the process of depositing the coin into the address you provided.
The system finds the best rates in the market at that particular time and exchanges your coins. The process is quick – you will receive the coins in under 30 minutes.
The exchange process will finish, and you can view the detailed results on the “Completed” page.
- Reliable protection and SSL security protocols, which also secure against interception.
- Godex system is protected against DDoS attacks.
- Fixed rate on transaction times.
- 200 supported cryptocurrencies.
- No fiat currency supported.
Godex is an impressive cryptocurrency exchange that is increasingly growing in popularity due to its non-KYC platform and number of cryptos supported.
Besides Godex, eToro and Gemini are some of the other platforms doing incredible. Let us look at their features, pros, and cons.
eToro has been in business since 2007 and has headquarters in 3 countries including the UK, Israel, and Cyprus. This means it conforms to 2 tier-1 jurisdictions and 1 tier-2 jurisdiction. As a result, eToro can be said to be a fairly safe and low-risk exchange. As an exchange platform, eToro has been providing forex products among other CFD derivatives for more than 14 years now.
eToro claims its spot among the top exchanges for the following features:
- eToro has a social trading operation that includes OpenBook. OpenBook enables you to copy-trade the best performing traders on the platform.
- eToro’s rate of 0.75% in Bitcoin transactions (buying and selling) is close to the average rates in the industry. However, it charges a slightly higher rate of 5% for fiat to crypto conversion. Converting a cryptocurrency to another on eToro goes at a rate of 0.1%.
- eToro’s platform has a very simple user interface that makes it easy for you to perform basic trading operations. The interface allows you to create a watchlist and place trades directly from the watchlist.
- There are over 90 cryptocurrencies that you can convert.
- It has a wide network of social trading features
- An expansive client base from which new traders can copy
- Low crypto-to-crypto transaction fees
- Offers eToro wallet for storage of cryptocurrencies.
- High crypto selling fees
Based in New York and regulated by the State Department of Financial Services, Gemini was founded in 2014 and is among only a few crypto exchanges regulated in the U.S.
Gemini gives you access to 53 cryptocurrencies and tokens. Its major cryptocurrency offerings include Ethereum and Bitcoin. You can also trade in smaller altcoins such as 0x and Orchid.
- Gemini platform gives you a range of options based on your skill level. For new traders, Gemini has a streamlined interface for both web and mobile versions. Advanced traders have access to the ActiveTrader feature that is packed with useful tools.
- You can store your cryptocurrencies in hot wallets after conversion on Gemini. Gemini wallets support all currencies that can be traded on the platform.
- Gemini charges a 0.50% convenience fee on top of the transaction commission. Orders placed through mobile or web applications have a transaction fee of 0.99% to 2.99%, depending on the amount of the transaction.
- Speedy registration process
- Wide array of tools for all types of traders
- Insurance for the hot wallets that protects you in case of theft or hacking
- The commission on trade and the convenience fee increases the cost of converting cryptocurrencies on Gemini.
The cryptocurrency landscape is an interesting one with new exchanges getting into the industry and existing ones constantly updating their list of supported currencies. We’re here to help you make informed decisions by providing you with unbiased reviews. We have chosen these exchanges because our customer analysis has shown they’re secure, user-friendly, trustworthy, and support a good number of cryptocurrencies.