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 Graviex consists of four parts: general information, fees, deposit methods and security.
Graviex is another coin exchange that was originally created in Russia and has its data center there. The exchange launched in February 2018. Russia has a fair share of coin exchanges. In addition to Graviex, the list includes YoBit, Tidex, Cash2PM, Cryptex24, Imexchanger, Simex, and RuDEX. However, Graviex recently moved their headquarters to the country of Malta. Malta is one of the tree countries in Europe (the other two being Gibraltar and Estonia) that has enacted clear legislation for cryptocurrency exchanges, thus avoiding the regulatory uncertainties that are present in all other European countries.
The company running the exchange is GRAVIEX Ltd, headquartered in Malta. The exchange clearly states the visiting addresses and contact details of the exchange’s offices on its website. This does provide some level of comfort to the users of the exchange. If the exchange had been fraudulent, it is less likely that it would provide ownership and visiting address details on the website.
This exchange offers trading in a decent number of cryptocurrencies. You will find all of the biggest cryptos here, and also a few of the less known ones.
On 1 October 2019, the exchange introduced three new features on the platform:
1. Crypto-world newsfeed;
2. Comparative analyses for the list of hot markets; and
3. Daily exchange turnover and last dividends paid out.
The exchange is continously working on introducing new features and functions.
Graviex also has a referral program which is quite unique. What makes it particularly unique is that it has 10 levels. So not only will you receive referral rewards for the people that you have invited directly. You will also receive rewards for such people’s invitees’ invitees’ invitees’ etc., down to the tenth level of invites. Allocation of profits among invited traders look like this:
Graviex also has a so called delisting policy. Pursuant to the delisting policy, the exchange will delist such cryptocurrencies that do not comply with the policy. Examples of non-compliance include situations where the cryptocurrency is no longer supported by its own developers, poor implementation of the software, insufficient trading volume etc. As of 14 June 2019, the exchange delisted the following cryptocurrencies:
PWC (Pawcoin), SUPPO (Suppocoin), ONEX (Onexcoin), EOT (Eotcoin), EDL (Edollarcoin), XLRC (Solariumcoin), VZH (Vizehcoin), JAGAR (Jagaricoinr), BABY (Babychaincoin), AIRIN (Airincoin), MBC (Masterbitcoin), H2O(H2ocoin), TPC (Tpcashcoin), PNDM (Pandemiacoin), PLT (Planetpay), ALMN (Allmncoin), ENCP (Enceladuscoin), DELIZ (Deliziacoin), DELIV (Delivcoin), CHMC (Christmascoin)
Moreover, as of 17 July 2019, the exchange delisted the following cryptocurrencies: ENDO (Endocoin), LUQ (Luniquecoin), LNP (Linuxpaycoin), HLD (Highlandcoin), MBLC (Montblanccoin), ROCK (Rocketcoin), SHUT (Shuttlecoin), TIM (Timeismoneycoin), OMEN (Omencoin), PCN (Peepcoin), PMN(Peepmasternodecoin), SCAVO (Scavotoken), LNB (Lancerbitcoin), BTSX (Bitsexcoin), BEATX (Beatcoin), STLC (Startlifecoin), ICHX (Icechaintoken), MBO (Mobiocoin), RNG (Rngcoin), SMGR (Smartgreencoin), FTON (Festoncoin), HDN (Hedoncoin), VHS (Vhscoin).
Delisting continued on 8 August 2019 with the following coins:
ARGO (Argo), BLS (Blisscoin), ZACA (Zacacoin), EXPO (Expocashcoin), ZMG (Zminingcoin), FLX (Flexinodescoin), GDM (Geldumcoin), B2X (Segwit2xcoin), DNZ(Adenzcoin), DRL (Daralcoin), ECP (Ecopaycoin), UMB (Umbracoin), C3X (Conn3xcoin), DCO (Dropcoin), WIK (Wikicoin), OPN (Openbitcoin), VICE (Vicecoin), NXG (Nodexchangecoin), PEG (Pegasuscoin), CCH (Citicashcoin), FURY (Furycoin), ALCUP (Alphacupcoin), ETFX (Ethereumfxcoin)
Needless to say, Graviex has really applied its delisting policy in a diligent manner over the last few months.
The exchange is also currently developing a Mobile App. It will be very interesting to see the outcomes of such development.
As far as we can tell, Graviex does allow US-investors on its trading platform. There is at least not any explicit prohibitions on the exchange’s website. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Graviex 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 cryptocurrency 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 ascertain that it feels right to you. The below is a picture of the trading view at Graviex:
Graviex Trading fees
This exchange offers a flat trading fee of 0.20%, meaning that both the taker and the maker in a trade pay 0.20% of the trade’s order value. 0.20% is slightly below the global industry average which is arguably around 0.25%.
It should be noted here that many exchanges have trading fees that are reduced as volumes are increased, meaning that you are incentivized to trade in higher volumes. The fees listed in this review and in the comparison table are excluding any such volume discounts.
Graviex Withdrawal fees
If you want to withdraw BTC from this exchange, you will have to pay 0.0004 BTC in withdrawal fees. This is actually quite competitive. The global industry average BTC-withdrawal fee is 0.0008 BTC, so Graviex charges 50% of that.
All in all, the fees are sufficiently competitive at this exchange compared to the global industry averages.
This trading platform does not accept any direct deposits of fiat currency. However, you can deposit and withdraw fiat currency through the third party payment service provider Payeer. This means that this exchange – through the use of Payeer – is actually an entry-level exchange. You can deposit USD, EUR and RUB to your account at this exchange through the Payeer-service.
Graviex has a security score that is way above average. We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/), and Graviex received a C-score. A majority of cryptocurrency exchanges receive an F in this test. Accordingly, a C-score here is definitely a good grade.
As mentioned above, this exchange supports credit card deposits (alone or through the use of any of its associated payment service providers). Other cryptocurrency exchanges that also have this option include: