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EXMO Exchange Review 2020: Read this before Investing.

Item: Exmo Ratings
Rating: 4.1
Author: Reviewed By Qadir Ak

4y ago•

Coinpedia

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Overview

Legal Name	Exmo Exchange
Headquarters	London, UK
CEO	Sergey Zhdanov
Year Founded	2013
Exchange Type	Centralized
Trading Fees	Maker: 0.40%/ Taker: 0.40%
Deposit Methods	Wire Transfer, Credit Card and Cryptocurrency
Supported Cryptos	50+ supported cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more
Fiat	US Dollar (USD), Euro (EUR), Polish Zloty (PLN) and more
Customer Service	Email
Trading Options	Spot Trading

With the rise in the cryptocurrency markets, multiple exchange platforms have entered the market. Each of them offers a distinct combination of fees, trading, geographical characteristics, and user interfaces.

Exmo is a cryptocurrency exchange that enables users to transfer several cryptocurrencies. You can deposit funds into your account using a variety of payment mechanisms, and the platform includes support for five fiat currencies

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

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In this article, we will provide you with the complete guide on the Exmo exchange and look into its aspects such as its features, fees, pros and cons and much more. Let us look into detail in this Exmo exchange review now,

QUICK NAVIGATION

What is Exmo?

Exmo is a UK-based cryptocurrency exchange that was established in the year 2013. It has its team members and customers around the world. The Exmo Trading Platform can be used by people in more than 200 countries around the world.

It is a popular trading destination for the purchase and selling of cryptocurrencies. Exmo receives money and coins from customers, after which they are able to exchange with each other using the money they have accumulated in their wallets.

Exmo Features

Exmo Interface: Exmo has a very basic but powerful interface, making it very open to first-time users. It is divided into four major groups, namely: Trade, Trade New, Exchange and News.
Exmo OTC Services: The platform offers an Over The Counter (OTC) trading service where transactions are made by a competent broker. In order to apply for this service, sales must be greater than $100k, making it an especially exclusive service.
Exmo Wallet: As an Exmo customer, you will have access to a web-based wallet where you can store your coins easily.
Security: Exmo is supported by SSL and presents its users with the excellent methods of securing their cryptocurrency holdings:
Customer Support: There is an online chat facility. Also there is a customer support email address which can be reached at support@exmo.com.

Exmo Fees and Limits

Exmo Exchange does not charge separate rates for takers and makers. They have got a flat rate model of 0.40 %. Exmo charges a withdrawal fee of 0.0004 BTC as you withdraw BTC. This is below the average for the global sector.

Exmo Supported Currencies

Exmo supports multiple cryptocurrencies. Some of the major ones include:

Bitcoin (BTC)
Litecoin (LTC)
Dogecoin (DOGE)
Dash (DASH)
Ethereum (ETH)
Waves (WAVES)
Zcash (ZEC)

Tether (USDT)
Monero (XMR)
Ripple (XRP)
KickCoin (KICK)
Ethereum Classic (ETC)
Bitcoin Cash (BCH)

Exmo exchange supports the following fiat currencies:

US dollars (USD)
Euros (EUR)
Ukrainian hryvnias (UAH)

Russian rubles (RUB)
Polish Zloty (PLN)

Exmo Payment Methods

Exmo supports multiple payment methods for its members which can be listed as below:

Cryptocurrency
VISA/MasterCard
Wire Transfer
Enfins
Perfect Money
Payeer

Rapid Transfer
SEPA
AdvCash
WebMoney
Qiwi

Exmo Mobile App

After a period of beta tests, the Exmo mobile application is available for download on Android devices. You can use a range of features with the app on the go.

How to register on Exmo?

Step 1:
Navigate to the Official Website and select the 'Sign up' button at the top right of the screen.
Step 2:
Enter your username, email address, and select a secure password.
Step 3:
Then complete the captcha and agree to the terms. Then select the “Register” button
Step 4:
Now, you will get a confirmation email from the EXMO team.
Step 5:
To activate your account, click the link on that email.

How to recover the Exmo password?

Click the “Forgot password?” Option on the login page. Then input your Email address or phone number. Please check in your mailbox/phone for the email verification code. Click “Submit” after filling in the verification code you received. Now you can set a new login password.

How to deposit on Exmo?

Step 1:
Log in to your EXMO account.
Step 2:
Click the ‘Finance’ icon located on the top of the page.
Step 3:
Select the digital currency and click the corresponding ‘Deposit’ button. We will choose BTC as an example
Step 4:
Now click the ‘Create Address’ button.
Step 5:
Now, the wallet address you need to transfer to the Bitcoins will be shown. You may either copy the address or use the QR code to transfer BTC to your personal wallet.

How to withdraw on Exmo?

Step 1:
Log in to your EXMO account.
Step 2:
Click the ‘Finance’ icon located on the top of the page.
Step 3:
Select the cryptocurrency you wish to withdraw and click the corresponding ‘Withdraw’ button.
Step 4:
Enter the withdrawal amount, the correct wallet address and click the ‘Withdraw’ button.
Step 5:
You should receive the coins in your wallet instantly. However it can take up to an hour depending on the amount of the transaction.

How to buy cryptocurrencies on Exmo?

Step 1:
Log in to your EXMO account and click ‘Buy’ option located at the top left of the page.
Step 2:
We will consider the example of Ethereum and the fiat currency is Euro.
Step 3:
Click the ‘EUR’ on the top right of the page. Then, click the trading pair ETH/EUR.
Step 4:
Below the trading graph, you will find two types of order: Limit order and Instant order. In this example, the Instant order is selected.
Step 5:
Enter either the amount of EUR you would like to spend or simply enter the number of ETH you would like to buy and click the ‘Buy ETH’ button.

How to sell cryptocurrencies on Exmo?

Step 1:
Log in to your EXMO account and click ‘Sell’ option located at the top left of the page.
Step 2:
We will consider the example of Ethereum and the fiat currency is Euro.
Step 3:
Click the ‘EUR’ on the top right of the page. Then, click the trading pair ETH/EUR.
Step 4:
Below the trading graph, you will find two types of order: Limit order and Instant order. In this example, the Instant order is selected.
Step 5:
Enter the number of ETH you would like to sell and click the “Sell ETH’ button.

Exmo Pros and Cons

Pros

24/7 Customer service
Variety of payment options available
Access to a number of major cryptos
Multi Language Support
Flat and low 0.2% trading fees

Cons

Does not support Margin trading
US Clients are not approved.
Supports a limited number of cryptos.
Transfer limits on the platform

Conclusion

Exmo offers a convenient and easy way to swap cryptocurrencies with each other. Supporting about 200,000 customers a day, Exmo is ranked in the top 10 currency exchanges in the world.

Thus Exmo is an excellent cryptocurrency exchange for beginners who enjoy the elegant nature of the interface. It is also good to have so many payment choices that encourage more users from more places to be able to access it.

Exmo FAQs

How does Exmo work?
Exmo receives funds and tokens from customers, after which they are able to carry out trading activities using the funds they have deposited in their wallets.
Does Exmo have a demo mode?
Exmo does not currently have a demo mode. It is recommended to begin by trading in small amounts to minimize potential losses.
What is the processing time for withdrawals at Exmo?
Withdrawals depend on the payment method used. Some methods take days to complete, while there are some which take hours.
Is Exmo a regulated exchange?
No, Exmo is not a regulated cryptocurrency exchange.
Is it safe to use Exmo?
Exmo is generally safe to use as it focuses strictly on the reliability and security of its users' funds and personal data.