Godex.io - Anonymous Crypto Exchanger ♻️ No Registration & No Limits

[FatFork]

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. 

[hugeblack]

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.

[Husna QA]

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?

[Ale88]

• 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.

[examplens]

• 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.

[Smartvirus]

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.

[Ale88]

• 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%.

[Smartvirus]

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.

[Ale88]

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.

[examplens]

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:

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

[Ale88]

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.

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?

[BitMaxz]

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?

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.

[examplens]

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?

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

[Ale88]

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

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.

[NotATether]

For example, look at the difference between Binance and Bybit right now

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.

[bullrun2024bro]

Website looks clean and I will test it in a few days, once I got a little more time.

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.


FAQ section:



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

[NotATether]

- time estimate (how long does it take, until i have the funds in my wallet?)

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.

[Peanutswar]

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[BitMaxz]

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.

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.

[slackovic]

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.

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.