US investors permitted
Gocio – Detailed review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Gocio consists of four parts: general information, fees, deposit methods and security.
Gocio is a Russian cryptocurrency exchange. It feels unfair tospeak about a Russian cryptocurrency exchange without also mentioning YoBit, one of the first to ever exist. So there, now it’s mentioned.
Gocio does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship.
Gocio doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Their flat fee is 0.20%, meaning that both takers and makers pay 0.20% of the order value when completing an order. This fee is slightly below the global industry average. The industry average is arguably 0.25%.
This exchange charges a withdrawal fee amounting to 0.10% when you withdraw cryptocurrencies (such as BTC). This is an unusual withdrawal fee model, but it is not unheard of. Most exchanges have a fixed withdrawal fee, regardless of the size of the withdrawn amount. With the fee model that this exchange has, when you withdraw small amounts, it is beneficial to you. If you withdraw 0.01 BTC, the withdrawal fee becomes 0.00001 BTC (quite low). However, if you withdraw 10 BTC, the withdrawal fee becomes 0.01 BTC (quite high). Please consider whether this withdrawal fee suits your own trading or not.
Gocio offers wire transfer as a deposit method, but you can’t deposit via credit card. So if you want to stack up some credit card points by trading crypto, you’ll have to look somewhere else.
Gocio’s security score is D+, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is in line with industry average when it comes to top crypto exchanges.
If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, please use our Exchange Finder here to find out which exchange has the best cryptocurrency exchange site for you.