In this article, we review the Godex crypto exchange, one of the rare platforms that allow you to swap almost any cryptocurrency for another one entirely anonymously. To this end, we will give you an honest overview of its features, functionalities, and benefits. 

So, if you want to find out whether Godex is a legit exchange that you can trust with your funds, keep on reading. 

What Is Godex?

Godex is a cryptocurrency exchange that focuses on the anonymity of its users. Launched in 2018, it has been growing over the years to become one of the best anonymous crypto swap platforms available. 

One major takeaway in the functioning of this exchange is its privacy approach. In an age where KYC has become more or less mandatory, Godex goes against the current by not requiring any ID documents or other private data prior to using its services. This inherently makes it more secure than other exchanges that keep your personal data on their servers. 

Over the years, data breaches of cryptocurrency exchanges have allowed hackers to access and compromise user credentials, including payment information and personal addresses. With Godex, this is impossible, as the exchange never asks you for your name or any other personal information. This privacy-focused approach is a rarity on the market today, and many users find it very valuable. 

Main Features of Godex

Being more than just an anonymous exchange, Godex provides a wide variety of features for its users. Below is a detailed overview of them. 

Beginner-Friendly Interface

The first thing that you will notice when using Godex is its simple user interface. The user experience has been entirely streamlined to allow you to exchange cryptocurrencies in a couple of clicks. 

What’s more, the exchange doesn’t even require you to create a user account. All you will need to do to proceed with your crypto swap is: 

1. Choose the tokens or coins you wish to swap using the handy drop-down menus. 
2. Input the amount you wish to exchange or receive — the other field will be filled out automatically.
3. Provide the address where you want to receive your crypto. 
4. Deposit the coins to the unique address generated by Godex. 

And that’s it. No complicated registration procedure, verification, or other red tape obstacles. 

Unlimited Volume 

Another feature that we appreciated was that there was no limit to how many coins we could swap. Some crypto exchanges allow you to exchange a minimal amount of crypto without ID, but once you go above a certain threshold, you need to go through verification. 

This is not the case with Godex, as there are no limits whatsoever, and you can swap as much crypto as you like from the get-go. 

Fixed Rates 

One feature worth noting is the fixed rates that the exchange provides during transactions. Every time you initiate a transaction, the exchange rate is frozen. This way, you don’t fall victim to the volatility of the market. 

In case the price of either cryptocurrency falls or rises while the transaction completes, it won’t impact the amount you receive in your wallet. 

Affiliate Program

And last but not least, there’s the tempting affiliate program. With every friend that signs up, you will get rewarded with up to 0.6% from their transactions. Moreover, you will receive a 0.005 BTC bonus for signup. Please note that if you choose to participate in this program, you will have to provide an email address. This is the only case where Godex will ask you for some of your personal information. 

Is Godex Legit?

We can definitely say that conducting a crypto exchange with Godex is 100% safe. Depending on the tokens and coins used, the exchange time might vary. In general, transactions are complete within 5-30 minutes.  

To support our findings, you can consult the hundreds of reviews of Godex on Trustpilot that give it a rating of over 4.8. Most users praise the exchange’s reliability, large choice of cryptocurrencies, and absence of KYC procedures. 

The only downside we could find is that the exchange does not support fiat currencies, as it is a crypto-only platform. However, the absence of fiat is what allows it to be completely anonymous, so it’s a small price to pay.

Conclusion

All in all, Godex is a great crypto exchange if you don’t need complicated trading interfaces. It’s also one of the only fully anonymous platforms where you can exchange cryptocurrencies with no limit. So, if you are a strictly crypto-to-crypto trader, Godex could be your go-to platform for daily swaps. 

The post Is the Godex.io Crypto Exchange Legit and Worth Your Time? first appeared on Opensquares.

More than eight new cryptocurrency platforms were launched only in the first few months of 2018. For this reason, our organization has chosen to outline briefly the main forms of licenses for exchange activities connected to cryptocurrencies, the prerequisites to register such businesses, and so forth.

Varieties of cryptocurrency trading licences

Conditionally, The two types of crypto trading firms are as follows::

• Exchanges that only enable you to trade cryptocurrencies back and forth amongst themselves are known as “classic” exchanges.
• Traditional currencies may be exchanged for digital coins, on fiat cryptocurrency exchanges.
• Similarly, permits to trade cryptocurrencies fall into two categories.

There are two types of permits that may be used to carry out these kinds of activities:

• Cryptocurrency trading activities are subject to regulation by specialized licenses issued by recognized authorities.
• Bitcoin and other cryptocurrencies are subjected involuntarily to traditional financial licenses, which govern the execution of financial activities (for example, in the USA, and Hong Kong).

Registering a bitcoin exchange in the appropriate jurisdiction

As of mid-2018, the most common countries to get a license for cryptocurrency trade are as follows:

• Japan is perhaps the most “priced” country for cryptocurrency trading. Japanese virtual currencies were the winners in everyday transacted prices for a long time.
• Singapore.
• The United Kingdom.

Maltese legislation is currently being developed to govern financial technology around the nation, and leading traders have said that they want to relocate their operations to this jurisdiction shortly.

Licensing a bitcoin exchange entails the following steps in abbreviated form:

• Doing business where you want to. As a general rule, prominent exchanges have several organizations that perform similar activities. It is necessary to carry out this procedure to maximize taxes and spread out financial risk.
• Establishing a bank account to conduct business; 
• Recruiting special workforce, like the AML-officer [expert accountable for the execution of anti-money embezzling strategy] as well as the Compliance-officer [expert liable for conformance with the purview of other compulsory prerequisites prescribed by legislation];
• Setting up requisite technological equipment and apps; Receiving and preparing accounting transactions;

To start a cryptocurrency exchange, you must meet the usual AML criteria.

If you plan on opening a cryptocurrency exchange in a certain country, you should thoroughly research its AML laws. Generally, digital currency exchange in its activities must:

• undertake complicated risk analysis methods;
• routinely train the staff;
• prepare internal certifications to reduce money laundering concerns; accounting
• The reporting of questionable transactions and the routine communication of authorized entities about such transactions.

Contact Fintech Consulting for more information on the requirements for obtaining a cryptocurrency license within our jurisdiction.

The result of our collaborative efforts will be obtaining a crypto license in the shortest possible time and at a fair price. To obtain a license to trade cryptocurrencies, just call or email us.

The post Licensing of Bitcoin Exchanges and Crypto Exchange Activity first appeared on Opensquares.

If you’re planning a trip to another nation for your next holiday, you’ll want to understand what to do to exchange foreign currency without paying additional fees.

It is undoubtedly critical to know everything on the conversion of foreign currency exchange, foreign processing fees, and expenditures when travelling overseas. On the basis of weekly highs and lows of the markets, merchandize, bank or currency exchange sources may be able to allow you a slightly better deal in rates of currency exchange. Here’s the guide on Tips for currency exchange with less duty charges

What Is the Difference Between the Currency of a country and Forex?

To comprehend the worldwide financial environment, capital markets, and their impact on the global company, we must first comprehend the functioning of currencies and exchange rates.

In a nutshell, currency refers to any form of money used in a country. What is the definition of foreign exchange? In its most basic form, foreign exchange is money valued in the currencies of other countries or, in the case of the euro, a collection of nations. The exchange rate refers to the rate at which one currency is converted into another by the market.

Tips for currency exchange:

1. Pay a visit to your local bank – Buying foreign money in person from a local bank is a more cost-effective option. As a regular customer, you may not even have to pay any fees. Furthermore, larger banks frequently have exposure to the greatest exchange rates. 
2. Go to an ATM: If you can’t get to a local bank before it’s time to depart, another alternative is to go to an ATM. 
3. Think about obtaining traveller’s checks: Purchasing traveller’s checks are another option for exchanging cash. Traveller’s checks are available at most banks and credit unions. Moreover, you will get full information by reading the complete article on Tips for currency exchange with less duty charges
4. online Currency Ordering – A person can purchase foreign currency from various online bureaus. However, you’ll need to conduct some research and get the most cash at the best rates 

These factors influence exchange Rates:

The rate of interest provided by a country’s central, for starters, is a significant impact. The increased value of that currency is due to the greater interest rate. Investors will swap their currencies for the one that pays better. They then put it in a bank to earn a better interest rate. In addition to it, we have listed some tips on Tips for currency exchange. 

The second factor is the country’s central bank’s ability to create money. If the state spends too much money, there will be too much competition for too few products. Currency holders will bid up the prices of products and services. Inflation is the result of this. Hyperinflation occurs when so much money is printed.

Conclusion:

This article has all the important information on foreign currency exchange and what factors the exchange rate depends on. Specifically, the tips are listed in the blog to make people aware of Forex’s medium, which is in the Tips for currency exchange with less duty charges section.

Share your experience with the currency exchange if you have via the comment section.

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