Is Graviex legit? Trusting your funds with any centralized exchange can be risky, and this exchange is no exception. We'll take a closer look at what people are saying about Graviex, how to create an account and how to minimize risk when using this exchange.
Reviews and opinions for Graviex are mixed and hard to come by. Compared to Binance's 4000+ reviews on Trust Pilot, there is hardly anyone talking about Graviex. Here are a few we did find.
Mihai Danila (UK)
"Graviex is good Not so easy to use graphic interface then other exchanges but they as cheap as free to use. I am using it for half an year already, good customer support too, they respond to messages."August 25, 2022
Aman Arora (India)
"Graviex Exchange has been providing digital assets trading for more than 50 Coins and has been structured and built with nice interactive interface for easy shift in between options... Inactivity and low volume of most Coins seems to be the concern..."Jan 30, 2021
There are two types of accounts available on Graviex. Verified and unverified.
To open an account on Graviex, you can follow these steps:
Graviex works like any other centralized exchange. Deposit your funds, place a trade for your chosen trading pair and wait for the trade to get filled.
Due to the low trading volume on Graviex, your trades may take longer to get filled or may not get filled at all. You might also find that prices are significantly higher or lower than some of the bigger exchanges like Binance.
Graviex's fees are 0.2% of the order amount.
This fee is charged whenever an order is executed, and it is deducted from the order's cryptocurrency. If an order is partially fulfilled, the fee amount will be calculated and charged according to that amount.
The standard withdrawal fee for cryptocurrency transactions is equal to 0.002 units of the cryptocurrency being withdrawn. This fee applies to all cryptocurrencies, with certain exceptions.
The minimum deposit amount for ETH and all ERC20 tokens on Graviex is the amount of the withdrawal fee. For Chainpaytoken , the minimum deposit amount is 2 CPAY.
Users can get a 50% discount on the standard market trading fees if they have a balance greater than or equal to 50,000 GIO tokens on the exchange.
There are also trading rules such as minimum limits for order volumes and order quantity limits.
Detailed information on other trading rules and fees can be found here.
Graviex supports a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and various lesser known altcoins such as Swap (XWP).
The exact list of supported coins can change over time, as the platform adds or removes coins based on market demand and other factors.
GRAVIEX has a referral program that offers participants an opportunity to earn rewards for inviting others to join the GRAVIEX club.
People who sign up using a referral code will also receive a 15% discount on trading fees for the first 30 days after signing up.
Some points to keep in mind:
Since Graviex is a newer and lesser known exchange, it would be wise to do your own research before moving any funds to this exchange. Here are a few important factors to consider
Reputation and history: Look for reviews and feedback from other users who have used Graviex. Consider how long the platform has been in operation and whether there have been any major incidents or security breaches.
See what people are saying on Redit, and review sites like Trust Pilot and Revain
Customer support: Look for information on how to contact Graviex customer support, and assess the quality of support based on feedback from other users.
Security measures: Evaluate the security measures in place on Graviex, such as two-factor authentication and encryption. Research the platform's track record with regards to safeguarding user funds.
Compliance and regulation: Consider whether Graviex is compliant with relevant regulations and laws, such as KYC and AML requirements.
As it is with any centralized crypto exchange, you are trusting your funds with a central entity and at any moment, the safety of an exchange can change.
Graviex is a lesser known and low volume centralized exchange, and so difficult to judge it's safety based on the few reviews and opinions floating around. What reviews are available, are mixed.
It could be tempting to trade on this exchange regardless of the risks due to the fact that they carry many cryptos not availble anywhere else but do so at your own risk.
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