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Exmo is a small cryptocurrency exchange platform founded in 2013 and based in the United Kingdom. The company claims to have investors and team members located all over the world. While its trading volume is relatively low in contrast to major cryptocurrency exchange platforms such as Bitfinex, Exmo really does have something to offer, with some advantages. In particular, there is excellent currency support, with some fiat currencies (USD, EUR, UAH, and RUB), Bitcoin, and a number of altcoins available.
On Exmo, exchanging, buying, and selling is pretty easy since the platform is so straightforward and simple to navigate.
Therefore, for beginners who will appreciate the intuitive and simple interface design, it is an ideal cryptocurrency exchange platform. However, it doesn’t have many additional functionalities, so those who want to do margin trading will probably have to look elsewhere.
Though some comments found online suggest Exmo servers haven’t always been the most reliable, the website works well generally speaking. The platform is easy to navigate, and buying and selling cryptocurrency is quick and easy. While this company does offer a wallet for traders to store their newly acquired digital assets, it’s advisable you take your digital assets off the exchange and save them in a secure hardware wallet of your choosing.
Currency Support
Exmo has a good fiat currency support, with the US dollar (USD), Russian ruble (RUB), euro (EUR), and Ukrainian hryvnias (UAH) accepted. With these currencies, it’s possible to purchase the following digital currencies:
Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Bitcoin Cash (BCH), Litecoin (LTC) Dogecoin (DOGE) Dash (DASH), Monero (XMR), Ripple (XRP), KickCoin (KICK), Waves (WAVES), Zcash (ZEC), Tether (USDT).
An exchange service between EUR and USD is also available on the platform. Overall, Exmo provides an excellent selection of altcoins. There are so many ways to fund an Exmo account, therefore making funds deposits easy. The company not only accepts debit and credit cards but it also accepts bank transfers. For withdrawal of funds, Exmo traders can make use of PayPal. Deposits and withdrawals of funds are generally quite fast, but this is clearly dependant on the payment method chosen.
Country Support
Exmo is available in almost all countries, thanks to the wide assortments of ways in which users can deposit to their trading account.
The company’s website itself is rendered in 11 different languages: English, Spanish, German, Italian, Portuguese, Romanian, French, Chinese, Polish, Russian, and Ukrainian. As a rule, make sure you check the legality of digital currencies in your area before buying and selling.
Exmo Fees
There are a lot of various transaction fees to put into consideration, as Exmo offers so many diverse payment methods. Let’s talk about the main ones.
There is a flat fee of 0.2% when making a deposit or withdrawal regardless of the payment method chosen. Apart from KickCoin which incur a charge of 50 KICK, depositing most cryptocurrencies on Exmo incurs no additional charge. Cryptocurrency withdrwawals incures the following charges:
- Bitcoin (BTC) – 0.001 BTC
- Ethereum (ETH) – 0.01 ETH
- Litecoin (LTC) – 0.01 LTC
- Waves (WAVES) – 0.001 WAVES
- Dogecoin (DOGE) – 1 DOGE
- Dash (DASH) – 0.01 DASH
- Zcash (ZEC) – 0.01 ZEC
- Tether (USDT) – 5 USDT
- Ethereum Classic (ETC) – 0.01 ETC
- Bitcoin Cash (BCH) – 0.001 BCH
- KickCoin (KICK) – 25 KICK
- Monero (XMR) – 0.05 XMR
- Ripple (XRP) – 0.02 XRP
If you’re funding your account in US dollar, then you can expect to pay 2% pay $20 for a bank wire transfer. Users also have the option of paying through PayPal if they are using US dollars. While it’s free, withdrawal of funds via PayPal attracts a fee of 3 percent of the transaction. Paying with euro through a SEPA transfer incurs a fee of €25.
Needless to say, there are always means for cheaper deposits and withdrawals, whether that’s choosing another payment method or a different cryptocurrency exchange entirely. Depositing EUR and US dollars through a debit or credit card is free of charge, but withdrawing attracts a fee of 3% + $7.5 or 3% + €6, depending on the denomination.
Customer Support
According to the company’s website, it offers 24/7 customer support service. The support service offered by Exmo is comparable to most cryptocurrency exchanges out there, in that it’s mostly online and replies tend to take many days.
You have three similar options when it comes to contacting support: One is tendering a support ticket through the online form. Another option is sending a direct email to the customer support.
There’s also a live chat option, which is some sort of hit or miss.
We got a very quick response upon testing it, but the replies are not in any way professional— they are always very short, often containing just one or two words. You be lucky and speak with someone more professional.
Public Opinion and Online Exmo Reviews
There’s little in the form of opinion to be found on the internet, as Exmo is a relatively small cryptocurrency exchange platform. Also, there are no other reviews on standard review websites. Most of the reviews found about this exchange appear to be paid reviews, which raises a particular level of suspicion.
Therefore, it’s essential to approach the exchange with some measure of caution since it’s less established than other cryptocurrency exchanges like Bittrex or Coinbase. One source of information is a thread on the Bitcointalk forum, which has up-to-date comments. Most of the comments are issues experienced by users, but this isn’t rare in a public forum.
Conclusion
If you are seeking a smaller cryptocurrency exchange platform, Exmo is a valid option to consider. There is a moderate selection of altcoins to choose from, and the currency support is much better than many other cryptocurrency exchanges out there.
It’s also helpful to see so many payment methods, which enable more people from more countries to be able to use the platform.
Despite these benefits, it’s important to be careful when creating an account on a cryptocurrency exchange, especially when it’s less well known, as in this case.
Exmo exchange review
Pros
- A lot of deposit/withdrawal options
- Easy to use
Cons
- Lack of functionality
- Some security issues