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Graviex Review - is it scam or safe?

Graviex  Review - Is graviex.net scam or good cryptocurrency exchange?

RATING: 2.8 / 1 REVIEWS Graviex

RECOMMENDED BITCOIN BROKERS


Trading Accounts & Conditions

 

Account type
Leverage 
Maker Fee
Taker Fee
Deposit Fee
Standard
1:1
0.20%
0.20%
Crypto only: Free

  

Graviex is a cryptocurrency exchange built mainly for the purposes of the Gravio project. This is a new endeavor, which aims to create a location-based assistant. We will only briefly discuss it in this review and look at Graviex from the perspective we always look at exchanges – that of an active trader, who may not have that much experience with cryptocurrencies.

 

Graviex Advantages

 

Connected with a bold project – the most unique thing about this exchange is its affiliation with Gravio. The main idea of the project is to create an ecosystem, which will allow devices (and their users) to connect and communicate with each other, if they are relatively close. The way it is presented it in the white paper reminds us of a few existing mobile apps, while having much broader scope, in essence combining all of them. 

 

After an ICO in the second part of 2017, the team launched the GIO token. At the time of writing (which is very early on in the development of the project), it can be sued to lower your trading fees at Graviex. As usual, we will avoid giving an evaluation of this as an investment oportunity.

 

2FA supported – this exchange supports one of the industry standards in terms of security. Two-factor authentication allows one to set-up a connection between his account at the exchange and his smartphone (via a mobile app). Later on every log-in will have to be verified with the phone.

 

Average trading fees – the costs associated with every trade on Graviex are also pretty much standard for the industry – 0.20%. These are charged for both market makers and takers.

 

Well-designed platform –  the interface presented by this exchange is designed with active trading in mind. Inspiration is taken from a few other venues, but there is nothing wrong with that. Here is a preview:

 

 


the platform at Graviex

 

 

 

Even more precise quoting – a trader who is versed in traditional financial markets may have been surprised when looking at the ways altcoins are quoted (with a lot of symbols after the decimal point). Graviex splits one Satoshi (the smallest increment, eight places after the point) into ten Sats. As experienced forex traders will tell you this can potentially facilitate better execution in liquid markets. 

 

 

Graviex Disadvantages

 

Dependent on a new project – one of the biggest risks involved with this exchange is the underlying project – if Gravio doesn’t pick up speed, neither will Graviex. The team has mentioned a few PR campaigns in the coming months, but for now there isn’t that much hype surrounding them. Still, from a trader’s perspective, this only matters when it comes to the volumes.

 

Volumes are still low – this is obvious for a very new trading venue like this one, but we have to mention it. They may increase, but only if there is a marketing strategy and at least some of the other issues are resolved.

 

Fiat not accepted – this isn’t an exchange where one could simply by coins after depositing his “old fashioned” money. Check the link below to find such places.

 

>> Exchanges accepting Credit Card<<

 

Very alternative coins traded –  trading at this venue is done against four of the major coins – BTC, LTC, ETH and DOGE. This is nice, but our concern comes from the other coins. They aren’t your typical altcoins, like EOS, OMG, MIOTA, DASH and so on. In stead, there is a plethora of cryptocurrencies which were fairly new to us. This may be seen as a positive by someone who is looking for a particular one of them, but in general offers a vert risky perspective to most investors.

 

No margin trading – we weren’t expecting this from a new company based around an entirely new ecosystem. This is basically an exchange for those who are interested in the project and the altcoin enthusiasts. If you wish to stick to the mainstream coins and are maybe even looking to use a bit of leverage for day trading, a forex broker may be a better alternative.

 

>>Trade Bitcoin with leverage<<

 

These companies, who are used to providing such an environment for other asset classes (most frequently fiat currencies). That being said, trading there is done via CFDs, which isn’t quite the same as going to an exchange. We aren’t saying it’s better or worse, but simply different. Find all the details here.

 

 

Withdrawal fees on some coins – most coins aren’t charged more than the network fee, when leaving Graviex, with the following exceptions:

 

 

 

Conclusion

 

Graviex is cryptocurrency exchange associated with the Gravio project. In this review we looked at them mainly form the perspective of a standalone exchange. As such they look fairly decent, except for the unusual assets listed and the low volumes.

 

Still the biggest risk involved with any centralized exchange is its credibility and intentions. While the team at Graviex has done a nice job, they aren’t well-known figures in the world of crypto by any means. Then again, few people probably knew who Vitalik Buterin was before Etherum became so popular.

 

If it is the daily market moves that get you excited about cryptocurrencies, maybe take a look at some of the highly regulated forex brokers, who offer access to this market.

 

>>Trusted Bitcoin brokers<< 

 

Here is a recap of this review:

 

Pros
Cons
Connected with a bold project 
Dependent on a new project
2FA supported
Volumes are still low
Average trading fees
Fiat not accepted
Well-designed platform
Very alternative coins traded
Even more precise quoting
No margin trading
 
Withdrawal fees on some coins

 

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Traders` reviews for Graviex

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Slippage

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Requotes

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Summary

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Scam, don't use it

They stole my funds and closed my account, dont use it.

John 06/20/2018
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