Crypto Currency Exchange

EXMO Exchange Review 2020: Read this before Investing.


Trade 180+ trading pairs, and 7 fiat currencies on one of the leading exchanges in the Commonwealth of Independent States (CIS) – EXMO.

Hey there, welcome to my EXMO exchange review.

EXMO exchange is the centralized exchange that claims to have 1.7M users, 50K active daily traders. The exchange offers IEO services, OTC trading, VIP service, API, increased cashback, and merchant services.

The mission of the platform is to ‘be the exchange portal into the world of cryptocurrencies!’

Let me walk you through one of the largest cryptocurrency exchanges based in the Commonwealth of Independent States – EXMO. In this article, you will learn about the basics of exchange, trading fees and limits, some amazing features of these exchanges and a guide to help you get started.

Pros and Cons

Pros

  • Low user fees.
  • Several cryptocurrency asset pairs to trade, giving the user the power of choice.
  • To their credit, Exmo has a good communications outlet. The blog publishes constant updates about what happens with Exmo.

Cons

  • US Clients not accepted.
  • Many exchange downtimes have been reported.
  • Deposit and withdrawals conditions are not secure, they change frequently.

About EXMO Exchange

Exmo is a cryptocurrency exchange founded in 2013 and works on the concept of Blockchain technology. The exchange supports many cryptocurrencies such as Bitcoin, Litecoin, Dogecoin, Dash, and Ethereum. The fiat currency acceptable on this platform is USD, EUR, RUB, PLN, UAH, TRY, KZT. Traders can access the website in 12 different languages which benefit the users who have joined the platform from different countries.

A user can trade in either crypto-to-crypto or crypto to fiat currency. The exchange has on-boarded almost 500,000 users from over 200 countries so far for trading and exchange.

Features that make EXMO Exchange a Winner –

The Exmo exchange team has experienced developers from Spain, Russia, India, and Thailand. The exchange has some powerful investors from countries such as Britain, the USA, Lithuania, and Singapore.

The platform provides humungous payment options to its users thus making it convenient for funding the Exmo accounts, deposits, etc. The trading engine is efficient, fast and equipped with the latest technology thus making the transactions instant.

This cryptocurrency exchange review points to an interesting feature called Exmo wiki which answers every question related to this platform. There is information concerning Bitcoin and other cryptocurrencies, how to trade and exchange, etc.

The company provides complete assistance to its users through online chats and email ID or raising tickets. Thus, a customer can raise queries regarding trading and exchange by using one of the above methods. Exmo takes an attempt to deal with each client individually.

The account registration is free of cost and does not require any verification. The processing fee on the transaction is very minimal and accounts for only 0.2%. Thus, a user can make a fair amount of investments in return for profits.

Exmo Services

Trade

Exmo exchange provides an easy-to-use trading experience to its users. The platform allows crypto-to-crypto trading among 179 currency pairs. Also, it supports USD and EUR fiat-to-crypto trading.

Moreover, the exchange has 3 different order types –

  • Market Order is used in case you want to Buy/Sell BTC instantly.  It is a simple order with no additional settings.
  • Limit Order is an instruction to Buy (or Sell) BTC at a certain, more favorable price. The Buy Limit order can be executed only at a specified maximum price or lower, the Sell Limit will be executed at a specified maximum price or higher.
  • Stop Order – is one of the Pending Orders for an automatic Buy/Sell operation according to the previously set restrictions, to get profit and (or) minimize possible losses.

Exmo Quick Exchange

The platform claims, The easiest way to buy crypto on EXMO is the “Quick Exchange” option.

Users can easily exchange currency pairs through this platform. The Exchange Mode is more suitable for those who are relatively new to the industry and are looking for a more simplified experience of trading.

Buy Crypto

As the name suggests, users can buy cryptocurrency using their credit card (VISA or MasterCard). As of now, fiat options for buying are limited to USD, EURO and Russian Ruble. One can only buy Bitcoin and Ethereum from this option. 

Exmo Referral Program

As every exchange platform, Exmo has its own referral program. Users will be able to earn a referral commission of 25% of every transaction the referee carries out.

Exmo Wallet

EXMO exchange offers a web-based wallet to store your coins. However, the exchange does not offer insurance for the Exmo wallet. The users will lose their currencies in case of any attack. It is advisable to use Hardware wallets like Ledger Nano S for better security.

Did you know? 

Recently, EXMO Wallet integrated Ledger Live Wallet App. This app allows storing and managing cryptocurrencies in one place.

What are the transaction fees on EXMO Exchange?

The platform has very low limits on deposits. Minimum fees charged on every transaction is set at 0.2%. Other fees have been detailed on the official website.

For more details Click here

EXMO Coin

EXMO Coin (EXM) was launched in July 2019. With the introduction of the EXM coin, the plan is to integrate the token into the EXMO internal ecosystem. This will lead to the acceptance of EXM tokens in leading payment systems and cryptocurrency wallets. The token listing will proceed in three stages.

Supported Currencies

What are the cryptocurrency assets traded on the Exmo platform? Cryptocurrency assets on Exmo are traded in pairs with fiat currency. The following combinations are available:

  • BTC/EUR
  • BTC/RUB
  • BTC/UAH
  • BTC/PLN
  • BCH/BTC
  • BCH/USD
  • BCH/RUB
  • BCH/ETH
  • DASH/BTC
  • DASH/USD
  • ETC/LTC
  • ETH/USD
  • ETH/EUR
  • ETH/RUB
  • ETH/UAH
  • ETH/PLN
  • ETH/BTC
  • ETC/USD
  • ETC/RUB
  • LTC/BTC
  • LTC/USD
  • ZEC/BTC
  • ZEC/USD
  • ZEC/EUR
  • USDT/RUB
  • XMR/BTC
  • XMR/USD
  • XMR/EUR
  • XRP/USD
  • XRP/EUR
  • BTC/USDT

and many more pairs.

Security at Exmo

Exmo follows various guidelines and policies when it comes to account security. The company exhibits strict Anti-money Laundering (AML) and Counterterrorist financing (CTF). Thus protecting the digital currency against cybercrimes and also eliminating the risk of volatility. The wallets are secured offline and it encrypts the data on servers. There is also protection against DDoS.

Is Exmo Reliable?

Users consider EXMO exchange as a safe platform to buy/trade cryptocurrencies. There was a DDOS hack attempt in 2017, but coins were not stolen. Exmo has strengthened its authorization. EXMO also provides 2FA (Two-factor authentication) to prevent unauthorized access. It also allows the users to add the list of trusted IP addresses to their account for better protection. And, the system will notify the user immediately if the login is made using any other devices.

How to trade on EXMO Exchange?

Trade View

EXMO comes with 2 trade views. One is for a Novice trader while the second is for an Advanced trader.

Here is a preview of Trade (Basic version)

Have a look at Trade New( Advanced Version) It has various options in the toolbar to get a detailed report

Buy/Sell at Exmo

Before a user can begin with trading and exchange, the Exmo account needs to get funded by using one of the many payment options available. The funding could be in the following currencies. Once the account has enough balance, the user can begin with new orders.

In order to buy and sell, the user can select the type of order i.e. instant order or limit order then select the amount he is ready to invest and place the order.

Before placing the order, the user can go through different market analysis tools such as real-time pricing of different crypto pairs under different timelines such as minutes, hours or days. The user can also check the last 24-hour trading volume and the highest and lowest price of the day.

How to create an account on EXMO Exchange?

Account Registration

  • In order to register a new account, log on to www. exmo.com.
  • The user can then click on the tab “Sign up”.
  • Enter the details such as login, mail ID, and create a password.
  • Click on the tab “register”. A verification mail goes to the registered email ID to activate the account.

Account Verification

Once the login is successful, the user will have to go through three verifications i.e. Identity verification, address verification, and agreement verification. Identity verification requires first and last name, date of birth, ID document number and series, etc.

Address verification requires address, city, country, postal code, and supporting documentation with the date. Agreement verification has a document uploaded on the website itself. It has to be printed and signed by the user, which is then uploaded again to complete the verification process.

Although cryptocurrency trading does not require account verification. But Fiat currency trading is done with a verified account. The user has to provide identity and address proof. With it, the user has to sign a user agreement and upload it to complete the verification process.

Recent Updates

Apr 3, 2020: Exmo exchange plans to burn EXM coins every quarter in 2020. This will be happening until 50% of the total turnover of issued tokens remains, that is, 1 billion EXM.

Apr 3, 2020: Exmo platform introduced a new tool – EX-CODES to transfer cryptocurrency and fiat funds between users of the EXMO platform.

Mar 20, 2020: The platform had experienced a DDOS attack that caused the website and API to become unavailable for some time. However, the team has handled the attack and the website is up as of now.

Conclusion

The EXMO exchange is convenient, safe, and easy to use, supports more than 12 interface languages and, what is very important, works with 7 Fiat currencies and different payment systems worldwide. Users often safely recommend using this exchange for trading and for additional earnings with cashback and affiliate programs.

EXMO Exchange

Qadir AK


Functionality

Reputation

Security

Summary

Exmo is a good exchange for trading a few coins or tokens if users don’t mind the verification of identity. Their support is quite responsive and available in many means.

3

FAQ’S


How do I contact the EXMO support team?


EXMO support is working day and night (24/7). One can contact the team from the website and send their queries using a ticket. Also, send an email to suport@exmo.com


When will my deposits be added to the EXMO account balance?


Cryptocurrency Deposits to the user’s balance usually occur within 60 minutes and depends on the number of confirmations in the network.


What is the minimum cryptocurrency deposit/withdrawal on the EXMO exchange?


The minimum cryptocurrency deposit is:
BTC=0.002, LTC=0.001, DOGE=10, DASH=0.01, ETH=0.01
The minimum cryptocurrency withdrawal is:
BTC – 0.01, LTC – 0.5, DOGE – 300, DASH – 0.1, ETH – 0.1


Does EXMO have an API?


Yes, the EXMO API is available for process automation. All the information you require can be found here. https://exmo.com/en/api/

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Qadir AK

Qadir Ak - Co-founder of Coinpedia Blog - His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

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