Garantex Exchange Review

Garantex is a Russian cryptocurrency exchange offering favorable terms and a guarantee of transactions execution in the absence of liquidity.

Garantex is a Russian cryptocurrency exchange owned by a company registered in Estonia. The service works with five cryptocurrencies (BTC, USDT, ETH, DAI, USDC) and four fiat units (Russian ruble, Ukrainian hryvnia, American dollar, UAE dirham). Registered in 2019.

Is it really a profitable and stably working exchanger? Or is Garantex a scam? This is what we will talk about.

Exchange garantex.io has a whole rad of advantages:
– Russian service with offices/cashieres in Moscow and St. Petersburg (other cities and partner countries with a commission).
– No transaction limits. You see a variety of offers and, in addition, you are free to put your own if the standard options do not fit.
– Possibility to buy cryptocurrency online and for cash (in those cities where there are no exchange offices, the transaction is made by couriers).
– Low commissions for transactions (0.15% maker/0.2% taker) and zero – for withdrawals and deposits.
– Different variants of execution (market, fixed-value, with quotes from Moscow Stock Exchange – MOEX, as well as Binance).
– Ease of communication with the support service (a large number of ways, plus the presence of physical offices, where you can come if you have problems).
– Affiliate program (cash rewards for attracted users to the site).
– Around-the-clock operation of all functions (exchange, support).

How to exchange cryptocurrency on the platform garantex.io

To be able to exchange cryptocurrency in Garantex, you need to register, as it is accepted in most cryptocurrency exchanges (how to earn on cryptocurrency?). Press the corresponding button in the upper right corner of the site and fill in the registration form: enter your email address (you will need to confirm it by following the link in the email), make up a password, agree to the rules, confirm that you are not a citizen or resident of the United States.

The next step is authorization (your login will be your email address).

And finally confirm your phone number (also with confirmation – a text message with a code will be sent to the specified number).

Now we have access to a personal account. In the “Exchange” section of the top menu you will see the exchanger. It remains to select the asset to buy and sell, the method of execution (market, with a fixed rate, based on quotes from the Moscow Stock Exchange – MOEX, as well as Binance) and the amount. The commission will be displayed below the rate. You will also see a preliminary amount of c.u. to be received (until you confirm the payment, it may fluctuate with the rate, if it is not a fixed price). If everything suits you, confirm and wait for processing and crediting.

And to view other users’ offers, you need to go to the “OTC” section. All requests/exchanges are reflected in the history just below the exchange form. The following assets are available on Garantex:
– Fiat – Russian ruble (RUB), Ukrainian hryvnia (UAH) and American dollar (USD). Replenishment with cards of Russian banks with the help of an identifier.
– Crypto – BTC, USDT, ETH, DAI, USDC. Deposit from user crypto-wallets.
– Futures (AFF).

Garantex physical cash desks are not available in every city, and in addition, you can arrange to call a courier (company representative) who will execute the transaction. Processing is round the clock. Crediting and payment in rubles – from 10:00 to 22:00 Moscow time. Credit limits are granted. Their size is set individually, taking into account client’s turnover and activity. You must pay back the funds you borrowed within one day, otherwise, starting from the next day after that, a 0.2% penalty will begin to “drop”.

Verification on the Garantex platform
There is no user verification (except for confirmation of email and phone number) at the stage of registration with Garantex. However, the rules of the service provide the ability to require you to confirm the identity and information specified in your profile at any time.

Deposit and withdrawal
There are no restrictions on deposit or withdrawal of assets in Garantex. You are free to choose any amount within the limits of the domestic market offer or, if no suitable amount is found, you can set your own. True, in the latter case, you’ll have to wait until someone else responds to it.

Used:
– Bank cards VISA, MasterCard.
– Bank transfers.
– Client cryptocurrencies (BTC, Tether) – “hot”, “cold” storage.
– Cash.

Crypto exchange commission
Trading commissions at garantex.io are not high at all:
– Maker (seller – the one who places the order) pays 0.15% of the transaction amount.
– Taker (buyer – acquirer) pays 0.2%.

API also belongs to the paid functionality, but here the terms are individual and are announced on the application (connection request). And in the case of delayed credit return penalty is charged – 0.2% per day. But we have already written about it above.

Withdrawal fees
Garantex takes commission for deposit and withdrawal. However, fees may be charged by third parties responsible for processing transactions (banks, electronic systems). Total amount of deposit/withdrawal will be displayed in the payment form before its confirmation.

Garantex bonuses
Bonuses (discounts, gifts, additional free services) garantex.io service does not offer. The only way to get a benefit other than exchange transactions is participation in the company’s referral (affiliate) program.

Free education
Crypto exchange offers free training at Garantex Academy for all registered users.