What Does a Money Converter Look Like, How to Use Them
Monday, 02 November 2020

The‌ ‌increased‌ ‌popularity‌ ‌of‌ ‌various‌ ‌cryptocurrencies‌ ‌has‌ ‌quite‌ ‌logically‌ ‌led‌ ‌to‌ ‌the‌ ‌emergence‌ ‌and‌ ‌development‌ ‌of‌ ‌various‌ ‌services‌ ‌that‌ ‌allow‌ ‌them‌ ‌to‌ ‌be‌ ‌exchanged‌ ‌for‌ ‌traditional‌ ‌or‌ ‌other‌ ‌types‌ ‌of‌ ‌virtual‌ ‌money.‌ ‌Currently,‌ ‌to‌ ‌carry‌ ‌out‌ ‌various‌ ‌operations‌ ‌with‌ ‌cryptocurrencies,‌ ‌mainly‌ ‌it‌ ‌is‌ recommended‌ ‌to‌ ‌use‌ ‌exchange‌ ‌services‌ ‌or‌ ‌exchanges.‌ ‌Cryptocurrency‌ ‌exchange‌ ‌service‌ ‌has‌ ‌become‌ ‌a‌ ‌popular‌ ‌money‌ ‌converter‌.‌ ‌These‌ ‌online‌ platforms‌ ‌provide‌ ‌an‌ ‌opportunity‌ ‌to‌ ‌quickly‌ ‌sell‌ ‌or‌ ‌buy‌ ‌cryptocurrency‌ ‌even‌ ‌often‌ ‌without‌ ‌passing‌ ‌the‌ ‌registration‌ ‌procedure,‌ ‌which‌ ‌makes‌ ‌the‌ work‌ ‌of‌ ‌exchange‌ ‌services‌ ‌convenient‌ ‌and‌ ‌comfortable‌ ‌for‌ ‌a‌ ‌large‌ ‌number‌ ‌of‌ ‌visitors.‌ ‌It‌ ‌is‌ ‌enough‌ ‌for‌ ‌the‌ ‌client‌ ‌to‌ ‌choose‌ ‌the‌ ‌appropriate ‌transaction‌ ‌option,‌ ‌then‌ ‌indicate‌ ‌the‌ ‌source‌ ‌of‌ ‌his‌ ‌own‌ ‌funds‌ ‌and‌ ‌carry‌ ‌out‌ ‌the‌ ‌financial‌ ‌operation.‌ ‌It‌ ‌is‌ ‌usually‌ ‌performed‌ ‌in‌ ‌one‌ ‌of‌ ‌three‌ ‌modes.‌

Manual modes

This mode means that:
  • First, the client transfers funds to the requisite details indicated on the website;
  • Then the operator of the exchange service checks their receipt and manually transfers money, either virtual or fiat, depending on the type of transaction, to the client's account.
The disadvantage of this operating mode lies in the long time for making operations, which can range from several minutes to an hour. In addition, only a small number of manual exchange services operate 24/7.

Semi Automatic modes

In this case, a user of the exchange service makes a payment directly on the site. Then its accuracy is verified by the service operator, after which the payment is made to the client's account. In fact, semi-automatic exchange services practically do not differ from those online services that work in a manual mode.

Automatic modes

Godex refers to those money converters that work in an automatic mode and provide the most convenient option for customers to sell or purchase cryptocurrencies processing all payments automatically and in real time. Moreover, the duration of the operation depends mainly on the method of transferring money by the client, and not on the service used by the exchanger. As a result, a transaction in most cases is completed within a few minutes.
Godex works with reliable partners such as Bitfinex, HITBtc, Binance and consistently processes a large number of transactions per day monitoring the relevance of rates and providing only the best rates to the clients fixing them from the creation of an order until its fulfillment. If you want to consider how much a crypto coin costs, you just need to enter the value in the required field of Godex calculator, which is a simple and convenient mechanism that allows you to transfer any amount from one currency to another. All the results will be displayed in a real mode.
Each exchange service independently determines the amount and conditions for charging the commission. Quite often, they are included in the exchange rate, as a result of which, in fact, the user does not pay for them separately, perceiving them as a part of the transaction.
Crypto exchanges are equally popular money converters to buy or sell cryptocurrencies. Moreover, this method has certain advantages, which include greater reliability and security of transactions, as well as a rule, a better and more profitable conversion rate. The disadvantages of working on the exchange include the duration of operations, the need to open a special account directly on the exchange, as well as the ability to use funds on this account exclusively for participation in exchange transactions.
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