GoPax Exchange Review: Leading Korean Cryptocurrency Platform
Introduction
GoPax is a prominent South Korean cryptocurrency exchange that has established itself as a trusted platform in the Korean digital asset market. Founded in 2017, GoPax operates under strict regulatory compliance with Korean financial authorities and focuses primarily on serving the Korean market with KRW (Korean Won) trading pairs. The exchange is known for its regulatory adherence, security measures, and strong focus on the Korean cryptocurrency ecosystem.
Trading Fees
Spot Trading Fees
- Maker Fee: 0.15%
- Taker Fee: 0.20%
- Minimum Fee: β©0
Additional Fees
- Deposit Fee:
- KRW: Free for bank transfers
- Cryptocurrency: Network fees apply
- Withdrawal Fee:
- KRW: β©1,000 per withdrawal
- Cryptocurrency: Varies by asset
- Futures Trading: Not available
Supported Cryptocurrencies
GoPax offers a curated selection of major cryptocurrencies with KRW trading pairs:
Major Cryptocurrencies
- Bitcoin (BTC)
- Ethereum (ETH)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Ripple (XRP)
Additional Assets
- Ethereum Classic (ETC)
- Qtum (QTUM)
- OmiseGO (OMG)
- Basic Attention Token (BAT)
- 0x (ZRX)
- Chainlink (LINK)
- Stellar (XLM)
- EOS (EOS)
- Tezos (XTZ)
- Cosmos (ATOM)
Regulatory Compliance & Security
Korean Regulation
- Registered with Korean Financial Intelligence Unit (KoFIU)
- Compliant with Korean AML/KYC regulations
- Regular compliance audits
- Adherence to Korean cryptocurrency guidelines
Security Features
- Cold storage for majority of funds
- Multi-signature wallet technology
- Two-factor authentication (2FA)
- SSL encryption
- Regular security assessments
- Real-time monitoring systems
Pros and Cons
Advantages
β
Korean market focus - Deep understanding of local needs
β
Regulatory compliance - Fully compliant with Korean laws
β
KRW trading pairs - Direct fiat trading for Koreans
β
Local banking integration - Easy KRW deposits/withdrawals
β
Strong security - Cold storage and multi-sig protection
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Korean language support - Native language interface
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Established reputation - Trusted in Korean market
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Mobile application - Full-featured mobile trading
Disadvantages
β Limited to Korea - Geographic restrictions
β Limited cryptocurrency selection - Fewer altcoins
β Higher fees - Compared to global exchanges
β No futures trading - Spot trading only
β Language barrier - Primarily Korean interface
β Smaller trading volume - Lower liquidity than global exchanges
β Limited international features - Korea-focused platform
Account Setup
Registration Process
-
Visit GoPax Website
-
Personal Information
- Full name (Korean residents/citizens)
- Date of birth
- Korean address
- Phone number
- Email address
-
Identity Verification
- Upload Korean ID or passport
- Proof of Korean address
- Phone verification
- Wait for approval (1-2 business days)
-
Account Activation
- Complete email verification
- Set up 2FA authentication
- Link Korean bank account
Requirements
- Korean residency or citizenship
- Age 19 or older (Korean legal age)
- Valid Korean identification
- Korean bank account for KRW transactions
Trading Guide
How to Buy Cryptocurrency
-
Deposit KRW
- Bank transfer from Korean bank
- Real-time transfer available
- Virtual account system
-
Place Buy Order
- Select cryptocurrency/KRW pair
- Choose order type (market/limit)
- Enter amount in KRW or crypto
- Confirm transaction
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Order Types
- Market orders
- Limit orders
- Stop-limit orders
- Post-only orders
Trading Interface
- Simple mode for beginners
- Professional mode for advanced traders
- Real-time Korean Won pricing
- Order book and trade history
- Portfolio management tools
Security Measures
Fund Protection
- 80%+ of funds in cold storage
- Multi-signature security protocols
- Segregated customer accounts
- Regular security audits
Account Security
- Mandatory two-factor authentication
- Email notifications for all activities
- IP address monitoring
- Session timeout protection
- Anti-phishing measures
Customer Support
Support Channels
- Phone Support: Korean business hours
- Email Support: Korean and limited English
- FAQ Section: Comprehensive Korean help center
- Live Chat: Available on website
Support Quality
- Korean language expertise
- Local market knowledge
- Responsive customer service
- Detailed Korean documentation
Mobile Application
Features
- Full trading functionality
- Real-time price alerts in KRW
- Portfolio tracking
- KRW deposit and withdrawal
- Security settings management
Availability
- iOS App Store (Korea)
- Google Play Store (Korea)
- Regular updates and improvements
Educational Resources
Learning Materials
- Cryptocurrency basics in Korean
- Trading guides and tutorials
- Market analysis and insights
- Security best practices
- Korean market updates
Market Information
- Real-time KRW pricing
- Korean market news
- Technical analysis tools
- Economic calendar
Local Banking Integration
Supported Banks
- Major Korean banks supported
- Real-time transfer system
- Virtual account deposits
- Instant KRW processing
Banking Features
- 24/7 deposit processing
- Quick withdrawal to Korean banks
- Low banking fees
- Secure bank integration
Regulatory Environment
Korean Compliance
- Full compliance with Korean regulations
- Regular reporting to authorities
- AML/KYC procedures
- Consumer protection measures
Future Outlook
- Adapting to evolving Korean crypto regulations
- Potential for expanded services
- Integration with Korean financial system
- Enhanced compliance features
Conclusion
GoPax serves as a reliable and compliant cryptocurrency exchange specifically designed for the Korean market. While it may not offer the extensive cryptocurrency selection or advanced trading features of global exchanges, its strength lies in its deep understanding of Korean regulations, seamless KRW integration, and focus on serving Korean users effectively.
The exchange is ideal for Korean residents who prioritize regulatory compliance, local banking integration, and Korean language support. Its commitment to following Korean financial regulations makes it a trustworthy choice for users who value compliance and security over extensive trading options.
For Korean cryptocurrency enthusiasts seeking a local, regulated, and secure platform for basic cryptocurrency trading with KRW, GoPax represents a solid choice that prioritizes compliance and user protection within the Korean regulatory framework.
Rating: 3.8/5 - Excellent for Korean users seeking compliant, local cryptocurrency trading with KRW pairs.
