Quick Profile
Grovex debuted in late 2023 as a global exchange for both novice and advanced traders. It supports over 130 trading pairs across around ten blockchain networks. The platform promotes speed and privacy, allowing crypto-to-crypto withdrawals up to about $10K without KYC, with fiat or larger trades requiring verification.
Core Offering
With fees advertised as low as 0.001%, Grovex competes heavily on cost. It claims high-speed transactions and strong security, offering spot markets, chain flexibility and a hosted wallet setup.
Where It Works
- Ultra-low fees - among the lowest globally, suiting active and high-frequency traders.
- Multi-chain support - trading across ten chains and 130+ pairs.
- Privacy for small trades - non-KYC crypto swaps up to a $10K threshold.
Where It Falters
- No proof-of-reserves - trust rests on brand claims.
- User complaints - about 30% of Trustpilot reviews cite frozen accounts or poor support.
- Unregulated - based in Australia but no visible license.
- Very young project - limited history and unclear long-term resilience.
Metrics Snapshot
| Metric | Details |
|---|---|
| Launch | Soft launch late 2023 - early 2024 |
| Trading pairs | 130+ across ~10 chains |
| 24h volume | ≈ $1.13B (~10,400 BTC) |
| Fee quote | As low as 0.001% maker/taker |
| KYC threshold | Applies above ~$10K |
| Trustpilot rating | ≈ 4.0/5 (70% positive, 30% negative) |
User Experience
Sign-up is quick, with wallet connection and clean UI. Fiat and larger transfers require KYC. Some users praise speed and ease, while others complain of locked accounts and slow responses. This inconsistency highlights its early-stage nature.
Verdict
Grovex offers compelling features: ultra-low fees, speed, cross-chain trading and privacy. But without regulation, proof-of-reserves, and with mixed reviews, it remains high-risk. Best suited for small, experimental trades rather than large commitments.