The EXMO cryptocurrency exchange serves as a marketplace for trading and exchanging cryptocurrencies. Established in 2013, the London-based exchange also operates remote offices in Barcelona, Kyiv, Moskow, and Istanbul.
Like to trade from anywhere at any time? The business has a mobile application and an online version of its trading terminal. The standard user interface is simple to use and offers many customization choices.
This guide will explain everything you need to know about Exmo so that you can decide if the exchange is your next trading home.
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Contents
- Introducing To the Exmo Exchange
- Features and Services
- Exmo-supported Coins
- Fees & Commissions
- Payment Methods
- Pros And Cons of Exmo Exchange Review
- Bottom Line
- FAQs
Introducing To the Exmo Exchange
EXMO is a renowned British crypto exchange well-known throughout the United Kingdom and Europe for providing crypto trading services to clients from all over the continent. The company was founded in 2014 and has offices in Moscow and Kyiv in addition to its London headquarters, which employs more than 150+ people.
In 2019, EXMO launched EXMO Coin, a native platform token (EXM). Reduced trading costs & cashback rewards, enhanced referral commissions, and other bonuses are advantages for customers to acquire and hold EXM.
Features and Services
Exmo supports various services, including trading cashback, buying and selling cryptocurrencies, and spot exchange.
Buy and Sell Cryptocurrency
Exmo provides a user-friendly platform for purchasing cryptocurrency. The webpage of Exmo has a “buy crypto” tab at the top. When you tap on it, a new window will open, and you can purchase other cryptocurrencies, including Bitcoin, Ethereum, Litecoin, or Tether. You can buy cryptocurrency with fiat money (AUS, USD, EUR, and many others).
Remember that you must first authenticate your account before purchasing cryptocurrency for fiat currency.
Spot Exchange Token
Exmo provides spot trading, sometimes known as “simple trading,” according to their website. Spot trading is the practice of purchasing and selling tokens and coins at a spot price for prompt settlement for those unfamiliar with the word.
It is like a new window where you can purchase and sell coins in just a few clicks when you press the “trade” button and then the “easy trade” button. To discover which coins have had the best and worst price swings over the past 24 hours, you can list the coins as “gainers” and “losers.”
Cashback on Trading Fees
Like every reputable crypto exchange, Exmo allows customers to vote on various issues, including upcoming platform modifications and listing new crypto assets. Exmo provides high-volume trailers for up to a 70% refund on trading fees.
Exmo Gift Card
Exmo's gift card is yet another exciting feature. Users can now swiftly trade money amongst each other thanks to the feature's debut. Fiat currencies user can only activate the card; however, token holders on Exmo can activate and generate it.
Trading of Crypto and Fiat Currencies
EXMO's main objective is to provide digital assets on its cutting-edge trading platform. It was established in 2014 and now provides 192 trading pairs using brokerage services. Both fiat currency and cryptocurrency are included. ETH, BTC, RUB, USD, EUR, and USD are the most common currency pairs.
Exmo-supported Coins
Exmo is compatible with a large number of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT), Ripple (XRP), Cardano (ADA), Ethereum Classic (ETC), ZCash (ZEC), Tron (TRX), Bitcoin Cash (BCH), Tron (TRX), Dogecoin (DOGE), Bitcoin Gold (BTG), Bitcoin Gold (BTG), Bitcoin Gold (BTG) Stellar (XLM), and many more.
EXMO Coin (EXM)
EXMO Coin, the company's coin, was introduced in 2019. (EXM). Its primary objective is to enhance your user experience and grant you access to several Exmo Exchange advantages. Its rate has climbed from $0.0034 at the start of 2021 to a record-breaking high of $ 0.089 (+2,500% in 3 months). EXMO Coin also increased in value by approximately 1,000% in March, making it the exchange token with the quickest rate of growth.
The Simple Trade Mode and The Trades Mode are the two different trading platforms available on the Exmo platform.
Exmo created the Simple Trade mode for those just entering the market. It is simpler to use and less difficult. This method is ideal for you if you wish to “purchase and hold” Bitcoin or any other cryptocurrency. The user is likely less interested in the specifics of the process when using the Simple Trade Mode. However, it is not advised for activities like day trading. A glimpse at the Simple Trade mode is shown below:
Additionally, those who want to purchase or sell cryptocurrencies or fiat money and have previous trading experience on similar platforms should use the Trades Mode. Users of the Trades Mode probably have a lot of interest in both trading and the extra tools within trading. Each user can so select the trading mode that best fits them.
Although US investors are not specifically listed as being barred from trading on this coin exchange, they should conduct their independent investigation into any issues related to their citizenship or residency.
Fees & Commissions
Exmo Trading Fees
Exmo provides a flat trading fee of 0.30%. The primary industry average, which historically hovered around 0.25% but is currently edging even lower, towards 0.10%-0.15%, is somewhat higher at 0.30%. Your trading fees will decrease if your trading volume during the 30-day period before now exceeds specific limits. But 0.30 percent is always the starting point.
In addition, Premium Cashback is another option offered by Exmo to reduce fees regardless of the trading volume. Exmo's native token, EXM, can purchase one of four packages. Cashback rates are split into Taker and Maker categories based on the type of trading strategies.
Exmo Withdrawal Fee
The withdrawal fee is the last fee to take into account. Exmo costs 0.0005 BTC for each withdrawal of Bitcoin. This charge is marginally lower than the industry average globally, which, according to the only known empirical study on the topic, is 0.00059 BTC for every BTC withdrawal. Other cryptocurrencies' withdrawal fees vary based on the network's transaction price.
Also Read: Coinbase Review 2022
Payment Methods
The most frequent way to fund an account is through transferring cryptocurrencies to an EXMO wallet. Over 60 supported cryptocurrencies can be deposited to the exchange, including Bitcoin (BTC), ETH, XRP, DOGE, and many more. When withdrawing from a hardware wallet or another exchange provider, the user must copy the specific address for the chosen currency or scan the QR code.
For those wishing to convert money to cryptocurrency, EXMO supports seven main fiat currencies and offers a variety of deposit options based on the user's country of origin. Bank transfers, credit/debit cards, SEPA, wire transfers, Faster Payments, Advcash, BACS, and other payment options are available.
Pros And Cons of Exmo Exchange Review
Trading platforms abound on the internet; therefore, crypto traders wonder why EXMO is regarded as a top online exchange. Here is a listicle outline of its pros and cons to help you comprehend its appeal:
Pros
- Customers of the platform can access customer service around the clock.
- EXMO allows several payment alternatives, including wire transfers and cryptocurrency.
- Supports 182 cryptos, providing a diverse set of alternatives.
- The platform provides multilingual support (Turkish, English, Ukrainian, and Russian).
- Low trading charge in fiat currency, around 0.2%.
- Buy and sell cryptocurrency with ease using simple navigation.
Cons
- Regarding margin trading, it falls short of expectations.
- Customers based in the US are unable to use the platform.
- Before some exchanges, the number of supported cryptos decreases.
- The process for making deposits and withdrawals can occasionally be slow.
- The platform imposes several transfer limitations.
The deposit charges for the methods are rather expensive (There is a $20 fee for wire transfers).
Bottom Line
Exmo provides practically all the features that cryptocurrency investors look for: it is accessible in more than 180 countries, supports a wide range of cryptocurrencies, and has an intuitive user interface. Exmo is unquestionably a well-known and reliable exchange when all of these factors are considered. Furthermore, the platform includes many security features, including required verification and a 2FA system, so security appears to be excellent.
The majority of users, however, will not appreciate having to provide their ID and personal information to utilize a platform; therefore, they will not be happy with a mandatory KYC procedure. In truth, you can browse the platform, but you can't trade until your exmo account has been verified. Exmo's primary flaw is not its requirement for rigorous verification; rather, it is the fact that it is prohibited in some of the world's largest crypto markets, including the US, China, and Japan.
FAQs
What Is Exmo App?
In the Exmo exchange, you can access cryptocurrencies and other currencies in one click. We offer an easy and safe way to obtain and trade cryptos and store money safely in your wallet. There's no need for an experienced trader to purchase cryptocurrency at Exmo.
What Is Exmo Coin?
EXMO Coin (EXM) is the ERC-20 trade token used by EXMO. To give the exchange even more advantages and advance our clients, we developed EXM. You can benefit from EXMO exchange bonuses, lower trading commissions, higher referral payouts, and much more by purchasing EXM!
Is Exmo a Good Platform?
EXMO is one of the greatest crypto exchanges on the web, including features like 182 coins, support for 200 countries, different payment methods, and 24/7 accessibility. The platform supports both bank transactions and cryptocurrency trading to provide reduced trading costs and ease.
How to Withdraw Money From EXMO?
Select the “Cryptocurrency” tab from the “Wallet” section. Select the appropriate asset, then select “Withdraw.” Tap “Withdrawal” after entering the amount of cryptocurrency you wish to withdraw and the address of the wallet to which you want to send money.
Is Exmo A British Cryptocurrency Exchange?
To get started, individuals might pick recognized brands like EXMO exchange. Featuring over 182 cryptocurrencies, it is a British cryptocurrency exchange. Since the exchange has provided customers for over seven years, it is a reliable option for all experienced traders. However, it is not a regulated cryptocurrency exchange.
