EXMO: A Crypto-to-Crypto and Fiat Exchange
Exmo is an Estonia-based crypto exchange platform that mainly focuses on exchanging fiat for cryptocurrencies. While it allows for the online exchange of cryptos and their trading, the main trading volume rises from BTC/ USD pair.
EXMO is a centralized crypto exchange founded in 2013 and is operated by EXMO FINANCE LLP. It’s based in England with offices in London, Barcelona, Moscow, and Kyiv. It is led by its CEO Sergey Zhdanov and serves over 40K active traders, and a larger 1.7M registered trading accounts.
EXMO allows global investors to trade crypto assets through it except for US, Syria, Japan, China, North Korea, and Middle East nationals. Due to regulatory prohibitions from their financial watchdogs, people from these countries are blocked from accessing EXMO.
What Cryptos Are Offered by Exmo?
EXMO has about 182 crypto pairs for both crypto-to-crypto and crypto-to-fiat trading. The most popular trading pairs on the site are WAVES/BTC, WAVES/USD, and BTC/USD. It supports fiat trading of the following currencies: EUR, GBP, KZT, PLN, RUB, TRY, UAH, and USD.
Some of the available crypto pairs at EXMO include:
Deposit and Withdrawal Services Offered by Exmo
EXMO offers the following deposit and Withdrawal options to its users:
- Credit/debit cards
- Perfect Money
- SEPA bank transfer for the supported fiat currencies
It also has an internal payment system known as Ex-Code that facilitates international remittances. It also allows users to withdraw funds through third-party exchanges from the site. It also has CryptoCapital, a system to convert crypto holdings to fiat.
Fees, Customer Service, and Security Measures at Bittrex
EXMO can be challenging to users as it operates with a lower limit on deposits made using cryptos as a payment solution. If a user does not hit the lower limit, the funds are not enrolled in the system and are also non-refundable. Additionally, it does not have an upper limit for deposits.
It has a minimum fee per transaction capped at 0.2%, but other charges may occur depending on the third-party companies facilitating deposit/withdrawal services.
Customer Support Services
EXMO offers customer support services through email. It also has an online chat facility that requires its users to create tickets and wait for their turn to get their issues addressed. The support is also available in all major languages.
Exmo depends on SSL to safeguard the assets belonging to its users. It offers the following measures:
- Cold wallet storage for assets held on the exchange
- Two-factor authentication layer during account logins
- IP recognition to flag unknown devices.
These measures are there to assure its users of the safety of trading with them.
Pros and Cons
Low transaction fees
A reasonable range of trading pairs for users to interact with the market
Relatively good security measures to safeguard users’ holdings
Limited availability: Some nationals are blocked from accessing the platform.
Suffers frequent downtimes during bull seasons
EXMO offers a reasonable range of assets to trade with. However, its ratings and concerns rising from users call for improvement and caution when using its services. Users complain of the ever-changing deposit and withdrawal conditions; also, it has blocked several nations from accessing its services due to regulatory compliance.