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GOPAX now the 5th largest bitcoin exchange in Korea

GOPAX now the 5th largest bitcoin exchange in Korea
With some prominent backers, this is an exchange platform to keep an eye on in the competitive South Korean market.

GOPAX, which stands for Global Online Professional Assets Exchange is now the 5th largest bitcoin exchange in South Korea. This is a solid realization for the practically new exchange. GOPAX was opened by blockchain company Streami on November 13th, 2017. Streami is partnered with Shinhan bank and hires various engineers from Harvard, Stanford, and KAIST.

GOPAX allows trading in Korean won and recent 24-hour trade volume is around 5,000 BTC which makes it the 5th biggest South Korean exchange and 30th largest in the world. It currently has 21 coins available for trade.

It’s an exchange where users can trade on the day they register, whereas it usually takes days till one can make their first trade with other exchanges in other countries. In addition, their security measures are quick and easy when registering as a new user.

The interface is relatively simple, with the exchange showing all of the tradeable coins and current market prices in a single page. It has features on par with other exchanges including basic charts and price monitoring where coins are tick positive in green and negative in red. The charts show market fluctuations for each minute, 5 minutes, daily and monthly. Transactions are settled and updated to the second.

Most of the volume on the exchange is coming from Bitcoin and Stellar, taking up 85% of share between the two, and BTC holds 60%. GOPAX is looking to keep growing being in operation just less than six months. The company has been putting in a lot of effort in increasing the number of users, by periodically running promotional events such as discounted or free transaction fees or coin giveaways.

The latest update from the exchange shows the addition of Ripple support as of Friday, March 9th. The Ripple native asset has already rocketed to the 4th most traded coin on GOPAX, doing over $1 million dollars in trade over the past 24-hours from the time of publishing.

# Name Pair Volume (24h) Price Volume (%)
1 Bitcoin BTC/KRW $23,880,600 $9,380.55 61.50%
2 Stellar XLM/KRW $9,580,610 $0.298600 24.67%
3 Ethereum ETH/KRW $1,735,380 $719.74 4.47%
4 Ripple XRP/KRW $1,044,200 $0.809412 2.69%

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