Giottus

Overview of Giottus

Giottus is a virtual currency exchange platform that operates in India. It is designed to allow users to buy, sell, and trade various cryptocurrencies. As an exchange, Giottus provides a platform for users to convert their fiat currency into cryptocurrencies and vice versa. It supports over 200 cryptocurrencies including the popular Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, EOS, TRON, Stellar, Dash and others. Giottus also offers a web-based mobile app with multilingual supports which provides users with flexibility and convenience.

The exchange offers customer support through multiple channels including Live chat, FAQs, ticket, address and Email support. However, it's currently not regualted by any recognized authorities.

Pros and Cons

Pros:

Giottus offers several advantages that appeal to cryptocurrency traders. The platform boasts an extensive selection of over 200 cryptocurrencies, including major players like Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Litecoin (LTC), as well as lesser-known options such as EOS and XRP. This diversity caters to various trading strategies and risk appetites.

Additionally, the user-friendly mobile app with multilingual supports makes it accessible for both beginners and experienced traders, while the availability of INR trading pairs facilitates seamless transactions for users in India.

Cons:

Despite its strengths, Giottus also presents certain drawbacks.

Firstly, being unregulated canexpose users to potential scams, fraud, and lack of legal recourse in case of disputes or loss of funds.

The absence of credit and debit card payment options also limit the convenience for users seeking instant deposits through these methods.

Furthermore, the platform's fee structure, which incorporates varying rates based on user levels and trade volumes can be complex for some users to navigate.

Regulatory Authority

The regulatory situation of Giottus is unregulated by any authority bodies. This will be a disadvantage for traders who prioritize transparency and regulatory compliance.

Unregulated exchanges can pose certain risks and disadvantages for traders. One major concern is the lack of oversight and accountability. Without a regulatory authority monitoring the operations of an exchange, there is a higher risk of fraudulent activities, security breaches, and manipulation of market prices. Additionally, in the event of legal disputes or issues with the exchange, traders may have limited options for seeking recourse or resolving conflicts.

To mitigate the risks associated with unregulated exchanges, it is recommended that you should conduct thorough research before engaging with any platform. It is important to consider factors such as the exchange's reputation, security measures, user reviews, and the transparency of its operations. You should also be cautious about the amount of funds invest on unregulated exchanges and consider diversifying your investments across different platforms.

Security

Giottus employs a range of safeguards to ensure their protection on user funds.

Notably, the platform employs cold storage for the majority of user funds, housing them offline and disconnected from the internet to mitigate the potential impact of cyber threats.

Two-factor authentication (2FA) is mandatory for account access, an added layer of security that necessitates users to enter a code from their phones along with their passwords.

Moreover, HTTPS encryption is implemented across the platform, securing data transmission to prevent unauthorized access to sensitive information.

It's important to acknowledge that while these measures enhance security, inherent risks are associated with cryptocurrency exchanges, necessitating vigilance in safeguarding personal funds from traders.

Trading Markets

Giottus boasts an extensive array of more than 200 cryptocurrencies available for trading on its platform, catering to a diverse range of trading preferences.

The selection includes major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and Binance Coin (BNB), ensuring that traders have access to the most prominent assets in the market.

Additionally, Giottus supports a wide range of lesser-known cryptocurrencies such as EOS, FTM and Dogecoin etc., granting traders the opportunity to explore and engage with alternative investment options.

This comprehensive offering of cryptocurrencies is designed to accommodate various trading strategies and risk profiles, providing users with ample choices to match their individual preferences through trading, refereing, staking, lending etc.

Giottus App

As a versatile cryptocurrency trading platform based in India, Giottus tailors its services to resonate with the country's linguistic diversity. Recognizing India's plethora of languages, Giottus offers its mobile app in over 20 regional languages, promoting inclusivity in cryptocurrency trading on the go.

Beyond its linguistic capabilities, Giottus App boasts of round-the-clock customer service, providing instant support in multiple languages. Nurturing a space where language is no longer a barrier, Giottus endeavours to connect and converse with all traders for a smooth, accessible, and diverse trading experience.

How to Open an Account？

To open an account with Giottus, you'll typically need to follow these steps:

- Visit the Giottus website or download their app.

- Click on 'Login' button and choose “register”.

- Enter your personal details as required - your name, phone number, email address and a password.

- Ensure you read their terms and conditions before agreeing to them and confirming your registration.

- You will need to verify your email address via a link sent to your account.

- Once your email is confirmed, you also need to complete a KYC (Know Your Customer) process, which involves providing further identification documents.

Fees

Giottus employs a transparent and dynamic fee structure for its users, with transaction fees determined by their 30-day trade volume. It's important to note that transactions, where the price is 0, will not be included in the calculation of the 30-day trading volume.

The platform's fee tiers for crypto trading pairs are categorized into different user levels, each offering a varying fee rate for makers and takers.

It's noteworthy that from October 30, 2023, crypto-INR pairs on the platform will now be exempt from trading fees while maker and takers fees will be charged depending on user level, you can refer to below details:

Deposit & Withdrawal

Giottus offers a variety of convenient payment methods to facilitate seamless fund transfers for its users. For normal deposit transactions, users have the option to transfer funds using widely-used methods such as IMPS, NEFT, RTGS, and UPI, ensuring flexibility and accessibility in managing their accounts.

It's important to note that while Giottus provides a range of payment options, credit, and debit card payments are currently not available as part of their supported methods.

Deposit and withdrawal fees of Giottus vary. It depends on which cryptocurrency you have. Below is a comparison table for your reference. For details, users can browse via their own website at https://www.giottus.com/docs/fees.html.

Educational Resources

Giottus provides a Knowledge Base as their educational resource. This is essentially a comprehensive library of informational content covering various aspects of cryptocurrency trading. Traders can access a wide range of articles and guides which help them understand the platform, trading strategies, market trends, and other relevant trading topics.

This resource is helpful for traders to enhance their knowledge, making it easier for them to make informed trading decisions.

Is Giottus a Good Exchange for You？

Giottus can be a fitting exchange both for newcomers and seasoned traders.

Newcomers may appreciate the 24/7 multi-lingual customer support and the use of language diversity in the mobile app. The robust educational resources including the Knowledge Base can also provide a great groundwork for beginners.

For seasoned traders, the multi-lingual aspect and round-the-clock customer support can be advantageous, especially if they require immediate assistance. They will also appreciate a wide range of cryptocurrencies to trade with.

Ultimately, the decision depends on individual needs and trading styles.

Controversies the Exchange Has Experienced

In 2021, Giottus was accused of providing misleading information about its trading fees. The exchange claimed that it had a “zero-fee” policy, but it was later revealed that there were hidden fees associated with some of its trading pairs. Giottus responded by saying that the fees were necessary to cover its operating costs.

In 2022, Giottus was also accused of having poor customer support. Some users complained that they had difficulty getting their issues resolved by the exchange's support team. Giottus responded by saying that it was working to improve its customer support.

Conclusion

In conclusion, Giottus presents a compelling option for cryptocurrency traders with its wide range of over 200 cryptocurrencies, catering to diverse trading preferences. The platform's user-friendly mobile app with 20 language supports and availability for INR trading pairs enhance accessibility, especially for Indian users. The emphasis on security measures, including cold storage, two-factor authentication reinforces user trust in the platform.

However, limitations like the absence of credit and debit card payments and a complex fee structure should be considered. As with any trading endeavor, you should always conduct thorough research and be cautious to navigate the dynamic cryptocurrency landscape effectively.

FAQs

Q: Does Giottus require KYC verification？

A: Yes, Giottus requires KYC verification for all users who want to deposit, withdraw, or trade cryptocurrencies.

Q: What types of rewards can users earn on Giottus？

A: Trading rewards, Referral rewards, lending and Staking rewards.

Q: What are the trading fees on Giottus ？

A: Zero fees for INR-crypto trading and tiered fee structure for Cryoto pair with maker fees ranging 0.03%-0.3% and taker fee is 0.3%.

Q: What are the deposit and withdrawal methods on Giottus ？

A: Giottus offers multiple deposit and withdrawal methods, including IMPS, NEFT, RTGS, and UPI.

User Review

User 1:

I've been using Giottus for a few months now and I'm really happy with it. The selection of cryptocurrencies is great, and the fees are very reasonable. The user interface is also very user-friendly, which is important for me because I'm not a techie person. Overall, I would definitely recommend Giottus to anyone who is looking to trade cryptocurrencies.

User 2:

I've been using Giottus for a while now and I'm kind of on the fence about it. On the one hand, I like the wide selection of cryptocurrencies and the fact that it's very secure. But on the other hand, I don't like that there are no credit or debit card payment options, and the fee structure can be a bit confusing. Overall, I think it's a decent exchange, but I'm not sure if I would recommend it to others.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.