In this EXMO exchange review we review the services and you can decide if EXMO is right for you. EXMO is an online bitcoin and cryptocurrency exchange platform offering a full range of services.
Table of Contents
EXMO Exchange Review Introduction
EXMO is an online cryptocurrency exchange platform founded in 2013 and based in the United Kingdom. It’s a popular trading destination for the purpose of buying and selling cryptocurrency. EXMO accepts funds and cryptocurrency from users, after which they are able to carry out trading operations with each other using the funds they have placed in their user wallets. A downside of cryptocurrency trading platforms is their vulnerability to hackers who can steal your hard earned money. Thus, it’s extremely important you choose the right one.
Cryptocurrency has taken the world by storm. Its popularity has ebbed and flowed. But many people believe it’s the currency of the future.
Right now crypto doesn’t have the regulations in place that the US Dollar does. Therefore, it can be manipulated. While that doesn’t mean you can’t trade it, it does mean to be aware.
Bitcoin stocks can be traded on major exchanges. Then there’s cryptocurrency exchanges where you can buy and sell crypto.
Digital Currencies & Fiat Money?
Cryprocurrencies, also referred to as digital currencies, are changing the finance sector. Traditionally, banking systems are highly centralized.
But with the introduction of Bitcoin, the first coin ever to be used as a digital currency, things are changing. Digital currencies use decentralized systems and rely on trading platforms. Unlike fiat currencies which use banks and other financial institutions.
What is fiat money you ask? Well, its currency the government has declared to be a legal tender. Some examples of fiat currency you’ll be familiar with is the US Dollar and the Euro.
What Is Exmo?
EXMO gives users the opportunity to buy/sell/exchange cryptocurrency and fiat money.
In a nutshell, EXMO is designed for those who earn profits from predicting changes in currency rates.
What Can I Trade?
Up to thirteen different digital coins are accepted on the EXMO platform.
The most popular ones being Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH).
Some other cryptocurrencies include Ethereum classic (ETC), Ripple (XRP), DASH, WAVES, Zcash (ZEC), Monero (XMR), DOGE, Tether (USDT).
If you’re looking for something other than digital currency to trade then check out our stock alerts.
Trading on the Stock Market
If you didn’t know, you can also trade cryptocurrencies such as Bitcoin on the stock market. But first, it’s important you can read the charts and patterns before you throw your money away.
Check out our online trading courses to buy cryptocurrency safely and trade the momentum and patterns.
Using the Exchange
If you didn’t know, you can also trade cryptocurrencies such as Bitcoin on the stock market. But first, it’s important you can read the charts and patterns before you throw your money away.
Check out our online trading courses to buy cryptocurrency safely and trade the momentum and patterns.
Funding Your Account
Now if your EXMO account isn’t funded with cryptocurrency you’re able to transfer funds from your digital wallet to EXMO.
You simply deposit the required amount plus fees, the system exchanges it and the fiat currency is in your account.
Just make sure you verify your account before the exchange, so you can withdraw the money to your bank account or bank card.
Check out our penny stocks list as we add crypto stocks that are running on there.
Fiat Currencies
A wide range of currency deposits are accepted on the exchange.
For example, the US Dollar (USD), Euro, Russian Ruble (RUB), Polish Zloty (PLN) and Ukrainian Hryvnia (UAH) are all acceptable.
Keeping true to their wide range of services, the user can use a wide range of payments methods.
Think credit cards, debit cards, perfect money, cryptocurrency, payza, wire transfers, money polo, Giropay, CryptoCapital, Yandex money and SEPA.
What Are EXMO Exchange Fees and Commissions? (Pricing Review)
- Here are Firstrade’s fees and commissions:
- Firstly, it’s 0.2 % for every deposit and withdrawal transaction.
- Secondly, The cost of depositing the fiat currencies – USD, RUB and EUR will vary based on the system used to transmit the money.
- The platform does not charge additional fees for deposits of Litecoin, Bitcoin and Dogecoin.
- If you want to withdraw these however, you will pay a fee.
- Users can exchange their cryptocurrency to fiat money right from their account and even store their digital assets right on the platform!
Unfortunately users are limited by the amount of transfers they can make on the platform.
Click here to see a full list of fees and transfer limits.
Is It Safe?
Like pretty much every crypto exchange out there, EXMO has been targeted by hackers in the past. For example, a DDoS attack in December 2017 briefly shut down the exchange.
But, while you don’t have to verify your account in order to start trading on EXMO, you should provide proof of ID and address to add increased security to your account.
You have the option of setting up two-factor authentication and to create a list of trusted IP addresses that can log into your account.
In fact, by adding additional security you access a wider range of deposit and withdrawal options.
And, with the option of setting up cold wallets to store your cash and coins offline, its a win-win situation. Learn more about stock trading for different ways to make money.
Pros
- Several cryptocurrency asset pairs to trade, giving the user the power of choice.
- Trade more than 46 crypto/fiat and crypto/crypto currency pairs
- Wide range of deposit options
- Available in more than 200 countries around the world, including Canada.The website itself is available in 11 different languages
- Easy to navigate platform, and buying and selling crypto is quick and easy.
Cons
- Some deposit fees are quite expensive (ie. upwards of $20 for wire transfers)
- Transfer limits on the platform
- Newer exchange with a lack of credible reviews, vast majority appear to be paid reviews
- Less established than the likes of Coinbase or Bittrex
- No margin trading
EXMO Exchange Stock Price and Symbol: Are They Publicly Traded?
Investors cannot purchase shares of EXMO Exchange because the company is privately held.
EXMO Exchange Review Final Thoughts
EXMO is a nice and easy way to exchange cryptocurrencies with each other and also with cash. Supporting around 200,000 customers per day, EXMO is ranked on of the top 10 currency exchanges in the world.
Unfortunately, the number of currencies is limited compared to other exchanges. Since the platform doesn’t have a lot of additional features, those looking to trade on margin should look elsewhere.
But, EXMO is an ideal cryptocurrency exchange for beginners, who will appreciate the intuitive interface design. It’s also nice to see so many payment options, which allow more people from more locations to be able to use it.
