2022-3-9 08:47 |
Exmo Overview
The emerging crypto market always brings us to new platforms that are interesting and deserve our thorough review. Crypto traders and investors usually ask themselves – what crypto platform is the best? What crypto exchange can suit my goals? In this article, we will take a close look at one of the crypto platforms that deserved our attention – Exmo.
Exmo is an exciting crypto platform that allows its users to the online exchange of cryptocurrencies as well as the trading of cryptocurrencies. The headquarters of the company is in London, the UK.
Exmo Exchange Visit NowHere is a complete Exmo summary:
Official websitehttps://exmo.com/enHeadquarters London, the UKLaunched2014Crypto supported50+Trading pair supported 170+Fiat currencies USD, EUR, GBP, RUB, PLN, UAH, KZT, TRYSupported countries WorldwideDeposit feesDepending on the payment methodWithdrawal FeesDepending on the cryptoTrading fees0.05% – 0.3%Note: Keep in mind that these are only my opinions based on my thorough investigation of the Exmo exchange. In any case, please do your own research before deciding whether you want to use it or not.
At this point, it is good to note that all opinions and suggestions written in this article are not considered financial advice.
Services & FeaturesExmo supports various services such as buying and selling crypto, spot exchange, or cashback for traders. So, let me break each one.
Buy & sell cryptoExmo offers a simple way to buy crypto. There is a “buy crypto” tab on the top of Exmo’s homepage. When you tap on it, you will be directed to a new window where you can buy various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, or Tether. You can buy crypto with fiat money (AUS, USD, EUR, and many others).
Keep in mind that you need to first verify your account before buying crypto for fiat money.
Spot exchangeExmo offers spot trading or as they name it on their website – “simple trading”. For those not familiar with the term, spot trading is the process of buying and selling tokens and coins at a spot price for immediate settlement.
When you tap on the “trade” button and then on the simple trade, you will be sent to a new window where you can buy and sell coins within literally a few clicks. You can list the coins as “gainers” and “losers” to see which ones have the best and the worst price movements in the last 24 hours.
Cashback for tradersExmo allows its users to submit their votes on various decisions such as upcoming platform modification, or listing of new crypto assets, just as each professional crypto exchange. Furthermore, Exmo offers high-volume trailers to get as much as 70% cashback in trading fees.
Also, you can get additional cashback if you are an owner of EXM (Exmo’s native token – more about it in detail later in the article).
Exmo Gift CardYet another exciting feature of Exmo is their gift card. The feature was launched in October of 2020 and since then, users can exchange funds between them quickly. If you are a token holder on Exmo, you can activate and generate the card, while fiat currency users can only activate it.
Exmo supported coinsExmo supports more than 30 cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Ripple (XRP), Litecoin (LTC), Cardano (ADA), ZCash (ZEC), Bitcoin Cash (BCH), Tron (TRX), Ethereum Classic (ETC), Dogecoin (DOGE), Stellar (XLM), Bitcoin Gold (BTG), and many others.
Exmo deposits & withdrawals (fees, methods, limits)When it comes to deposits and withdrawals, fees depend on payment methods and fiat currency, as shown below:
US Dollar
Payment methodDeposit FeeWithdrawal FeeVisa/MasterCard USD2.99%–EXMO Gift CardFree–Payeer2.49%–AdvCashFree4.49%Euro
Payment methodDeposit FeeWithdrawal FeeEXMO Gift CardFree–Instant SEPA UAB EUR–1.5 EURCJ SEPA UAB EUR–1.5 EUREMBank UAB SEPA0 EUR2 EUREMBank UAB SWIFT30 EUR40 EURRussian Ruble
Payment methodDeposit FeeWithdrawal FeeEXMO Gift CardFree–Visa/MasterCard2.49%4.99% + 60 RUBQiwi0.99%3.49%AdvCash1.99%0%Payeer3.49%–When it comes to crypto deposits – these are free of charge for all cryptocurrencies. However, crypto withdrawals vary from coin to coin which is the typical procedure on all exchanges. For example, it is 0.0005 BTC per BTC-withdrawal which is in line with the market’s average.
Exmo Trading Fees (Spot trading fees)Maker and taker fees on Exmo are 0.3% respectively. However, fees can be significantly lower depending on your 30-day trading volume. Please see the table below:
30-day Trade Volume ($)Maker FeeTaker Fee0 – 5 0000.3%0.3%5 000 – 10 0000.22%0.3%10 000 – 25 0000.2%0.28%25 000 – 50 0000.16%0.26%50 000 – 100 0000.14%0.22%100 000 – 250 0000.1%0.2%250 000 – 500 0000.08%0.18%500 000 – 1 000 0000.06%0.16%1 000 000 – 2 500 0000.04%0.14%2 500 000 – 5 000 0000.02%0.12%5 000 000 – 20 000 0000.02%0.1%20 000 000 +-0.05%0.05%When it comes to limits – it depends on the trading pair, as shown below:
You can check a complete guide on Exmo’s commissions and limits here.
Exmo Exchange Visit Now Exmo supported countriesExmo is available almost worldwide. However, there are notable exceptions since Exmo is not available in the US, China, Japan, and countries in the Middle East. Furthermore, Exmo is not available in North Korea and Syria either.
Are US investors allowed on Exmo?US investors are not allowed on Exmo since there are law prohibitions that bar US traders from trading activity with regulated brokers outside the United States.
How to start with Exmo? (steps like registration, activation, verification, etc).The registration process with Exmo is pretty much straightforward, but a bit longer than on other exchanges to be honest. You have to tap on the “sign-in” button and then fill out the necessary information:
Login (username)EmailPhone numberPassword is written twiceThey will send you a code on your mobile phone via SMS so that you can verify it. Once you verified your phone, a confirmation email will be sent to your inbox and by clicking on the confirmation link you have successfully activated your account.
Does Exmo require KYC?Yes, Exmo does require a mandatory KYC (Know Your Customer) verification process. Most of the time, users do not like when verification is mandatory and you can’t do anything on the platform until you verify your account. However, it does have some positive sides – this means there are not any scams on the exchange (since they will never go through the whole verification process).
As per Exmo’s website – verification is done with just “a few clicks”. You have to upload a copy or photo of your valid ID document, or you can use Exmo’s mobile app to scan your documents directly on the platform.
Does Exmo have a Native Token – What is the role of the EXMO coin?Yes, Exmo does have a native token and it is called EXM (Exmo Coin). The purpose of the coin is to offer more rewards and benefits to the Exmo ecosystem. EXM offers you various additional services and benefits such as increased referral payments, reduced trading commissions, and EXMO exchange bonuses.
Besides the Exmo exchange, you can buy EXM on HitBTC exchange as well. The best way to buy it is via a currency pair. Once you choose the order type and the token, you just need to tap on the “buy” button.
Is Exmo legit and safe?Well, this is probably one of the most important questions in these types of reviews. Since Exmo has been around since 2014 (which is a very long time in the crypto world) and has thousands of users around the world – we can safely say it is a legit and secure platform. However, it did have an attack in 2017 when the whole platform was shut down for a while.
However, the mandatory verification system definitely increases the security of the platform, and the hack in 2017 is most likely the main reason why the team around Exmo decided to make KYC a must. Moreover, there are additional security measures offered to users such as the 2FA (2-factor authentication) system.
Is Exmo Regulated?Exmo is not a regulated exchange and this is probably the main reason why it is not available in countries like the US, China, or Japan. However, it is still considered a secure, transparent, and widely popular crypto platform.
ConclusionExmo offers almost everything every crypto investors like to see – available in more than 180 countries, supports a great number of cryptocurrencies, and has a beginner-friendly interface. When you take all of these into account, Exmo is definitely an exchange that is widely popular and legit. Moreover, the security seems to be on a high level since the platform offers various security measures such as mandatory verification and a 2FA system.
However, most users will not like a mandatory KYC process since they do not like to leave personal information and upload ID documents before trying out the platform. In fact, you can look into the platform, but you can’t make any trades until you verify your account.
One of the major drawbacks of Exmo is not its mandatory verification system, but the fact that it is restricted in some of the biggest crypto markets in the world such as the US, China, or Japan. Exmo would be an even more popular exchange if they managed to make themselves available in these big markets.
Exmo Exchange Visit NowRead also:
3 Best Exchanges To Trade Leveraged TokensBest Crypto Leverage Trading Platform in the USABest Crypto Derivatives Exchanges Is Bitstamp safe?BitForex ReviewIs Zaif legit?BitKub ReviewBitOffer ReviewSouthXchange ReviewLCX Exchange Review FAQsLet’s look at some frequently asked questions when it comes to Exmo exchange.
What fiat currencies does Exmo support?Exmo supports various fiat currencies such as USD, EUR, GBP, RUB, PLN, UAH, KZT, or TRY.
How do I withdraw from EXMO?You can fairly quickly withdraw your crypto from Exmo via fiat currency, Visa/MasterCard, or another crypto. The fiat currency withdrawal takes 1-3 days and this is definitely the most popular option for the majority of crypto traders.
Does Exmo have Fiat Deposit?Yes, Exmo does support fiat deposits via credit/debit cards, wire, SEPA, and WebMoney transfers. The exchange supports various fiat currencies such as USD, EUR, GBP, RUB, PLN, UAH, KZT, or TRY.
Can I trade with leverage on Exmo?Yes, Exmo does support leverage trading. When you tap on the “trade” button, you can choose a “Margin – leverage your opportunities” option.
For those not familiar with the term, margin trading is when you use funds from a third party to have more budget in your trades. Therefore, it is suitable for experienced traders.
Where is Exmo exchange based?Exmo’s headquarters are in London, the United Kingdom. It was launched back in 2014 so the exchange is not a new player on the crypto market.
How do I fund my EXMO account?Tap on your username at the top of the home page and choose the “wallet” section. You will then see your balances and the “deposit” button will be there next to the crypto and fiat currency available for deposits.
Keep in mind that you can fund your Exmo wallet with a few payment methods that include:
Fiat currencies (EUR, UAH, RUB, USD, TRY and, PLN)WebMoneyWire TransfersSEPACredit cardCryptocurrencies (XRP, BTC, ETH, DOGE, etc.)The post Exmo Exchange Review – Fees, Supported Coins & Countries, Payment Methods appeared first on CaptainAltcoin.
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