UPDATE 10 June 2021: When accessing Gobaba's website, the visitor receives the following message:
Accordingly, we have (albeit temporarily) marked this exchange as "dead" and moved it to our Exchange Graveyard. If/when the exchange is brought back with a new design, we will revive it.
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A crypto exchange guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Gobaba consists of four parts: general info, fees, deposit methods and security.
Gobaba is a crypto exchange from the UK that launched in 2018. There are numerous crypto exchanges registered in the UK, which is clearly Europe’s leader when it comes to being the home of crypto companies.
Gobaba lists a number of items as advantages with their trading platform. Three of those things are the security of the platform, that they are a UK-company strictly abiding by the laws of the UK and that it has a nice user experience. Security is of course very important and user experience is also a very important thing to consider. Where the company operating the exchange is registered is normally less important, but could also have some relevance at least.
Gobaba also has a referral program, through which you can invite users and then receive a share of their trading fees as a reward. The referral program has fourt different levels: Classic, Premium, Elite and VIP, as follows:
As far as we can tell, this platform does not prohibit US-investors from trading there. Accordingly, we do believe that it is open to US-investors as well. Any US-investors that want to trade here should in any event form their own opinion on any issues arising from their citizenship or residency.
Gobaba Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. The below is a picture of the trading view at Gobaba:
Gobaba Trading fees
Every trade occurs between two parties: the maker, whose order exists on the order book prior to the trade. The maker thus “makes” the order being carried out. The other party is the taker, who places the order that matches (or “takes”) the maker’s order. The maker-taker model normally encourages market liquidity by giving the makers of that liquidity a fee discount.
Gobaba’s trading fees for takers are 0.20%. This fee is a bit below the global industry average. The global industry average is arguably around 0.25%, although we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead.
But the taker fees are not even this platform’s strongest edge. At this platform, makers don’t pay any fees at all (0.00%). Naturally, this is a great deal for the makers in the trades at this exchange.
Gobaba Withdrawal fees
Gobaba charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This is below the global industry average with almost 40% (seeing as the global industry average BTC-withdrawal fee is 0.000812 BTC per BTC-withdrawal).
All in all, the fees here are great.
At Gobaba, you can deposit in essentially any way you want. Wire transfer and credit cards included. This can be helpful especially for newer crypto investors. The fact that fiat currency deposits are enabled here makes this exchange an “entry-level exchange”. Fiat currencies possible to deposit are however limited to the GBP, the EUR and the TRY.