EXMO Cryptocurrency Exchange Most Updated Guide 2018

EXMO Cryptocurrency Exchange Most Updated Guide 2018

in Cryptocurrency

EXMO is a cryptocurrency exchange based in the UK. Initially, in 2013, the team of the trading platform was called ExMoney. The EXMO's team consists of the specialists from Spain, Russia, Thailand, and India who works together with financial advisors from the USA. UK, Lithuania, and Singapore. Around 450 thousand people use the exchange nowadays.

 

 

 

The crypto exchange is easy to use and is an ideal choice for the beginners. However, the experienced users won't find a margin trading function here. 

 

At the beginning of 2018, EXMO launched its own ICO project to implement the margin trading on USD and RUB in the crypto exchange functional. But the ICO mostly reminds crowdfunding initiative than a traditional IPO. 

 

Contents: 

  1. About EXMO
  2. How to sign up and create an account
  3. EXMO security measures
  4. How to deposit and withdraw USD
  5. EXMO Verification
  6. Payment methods
  7. Available Cryptocurrencies
  8. Available Fiats
  9. EXMO fees
  10. Transfer Limits
  11. Supported Countries
  12. Customer Support
  13. Pros & Cons
  14. Can you trust EXMO? 
  15. Useful Links

 

How to sign up and create an account

 

Exmo crypto exchange sign up

 

  • Complete the sign-up form, then click "Register"

  • Click the verification link sent to your email address

The interface of the EXMO cryptocurrency exchange is easy to understand. Let's divide it into 7 zones: 

 

EXMO crypto exchange

 

  1. The first one represents a candlesticks trading chart. Read more about cryptocurrency charts here.
  2. A list of cryptocurrencies with the actual exchange rate and changes. 
  3. Limit orders where you can leave the order to buy or sell cryptocurrency. 
  4. Your active orders display
  5. Sell orders show the price and the currency of the other trader's orders. You can choose one to trade your cryptocurrency if it suits you. 
  6. The same as the sell orders, only here you can choose the suitable order to buy some currency. 
  7. The trade history reflects the finished orders. 

Besides, there is a chat to the right where all the users of the crypto exchange can talk to each other. 

 

EXMO security measures

EXMO supports SSL (Secure Sockets Layer) standard and provides the following security measures: 

  1. Cold wallets to hodl cryptocurrency off-exchange
  2. 2FA (Two-factor authentication) - a short piece of code which they send to your phone to login
  3. Verification and recognition with your computer's IP 

 

How to deposit and withdraw USD

  • Choose "0 Bitcoin" button to the left of your login
  • Then click "Switch to finances"

 

Exmo deposit

 

You will see the following window with a list of fiats and cryptocurrencies which you can regulate. Choose "Settings" button for this: 

 

EXMO deposit

 

  • Choose the "Deposit" button to make a deposit USD: 

 

EXMO deposit

 

  • The system will display the available "methods for refilling your account." However, at first, you will have to pass the verification filling the verification form: 

 

EXMO methods of payment

EXMO verification

 

  • To deposit crypto coins just click on the "Deposit" button in front of the cryptocurrency you want to deposit: 

 

deposit crypto

 

  • Then create the wallet address where you will send your crypto money: 

 

Exmo crypto deposit

 

The withdrawal process is similar to the deposit one. Just click on the withdrawal button in front of the cryptocurrency you want to withdraw, fill in the form and get the money on your wallet. As easy as that! 

 

Exmo withdrawal

 

You will be able to withdraw fiats in the same way after you verify your account. 

 

EXMO Verification

As you may have noticed on the screens, the verification is mandatory if you are going to use MoneyGram, Wire Transfer, SEPA, Western Union, Master Card/Visa. 

The verification process takes place in three steps.

 

  • First of all, you will have to identify verification showing one of the following documents: 
  1. A national passport- two different pages plus photo
  2. International passport- two different pages plus photo
  3. Personal ID showing the back and front sides

 

  • Then you will need to verify your address. To do this, a number of documents are required: 
  1. Utility bill
  2. A bank statement
  3. Tax papers
  4. Proof of residence which is provided by the area’s local authorities

 

  • After this, the last step - user agreement - is left to make. 
  1. Download the user agreement to your computer
  2. Print it and sign it. 
  3. Scan and upload the document back on the website in the "Agreement" section
  4. Take a selfie with your ID document with the EXMO account opened on your computer in the background and upload the photo on the website - yes, I'm not kidding you! 

 

Payment methods

EXMO carries out the following payment methods: 

  • Credit/debit cards
  • BanContact
  • QiWi
  • Perfect Money
  • OKPay
  • AdvCash
  • Payeer
  • MoneyPolo
  • WebMoney
  • Payza
  • Fiat currencies (such as USD, RUB, and Euros). SEPA (Single Euro Payments Area) transactions. 

Moreover, EXMO crypto exchange supports Ex-Code (Exmo Internal Currency Exchange system) which allows users to withdraw using Ex-Code and convert it into fiats. 

The other option is CryptoCapital which also allows converting cryptocurrencies into fiats. 

 

Available Cryptocurrencies

EXMO supports 12 crypto coins: 

  1.  Bitcoin (BTC)
  2. Litecoin (LTC)
  3. Ethereum (ETH)
  4. Bitcoin Cash (BCH)
  5. Ripple (XRP)
  6. DASH
  7. WAVES
  8. Zcash (ZEC)
  9. Monero (XMR)
  10. DOGE
  11. Tether (USDT)
  12. Ethereum Classic (ETC) 
  13. KickCoin (KICK) 

 

Available Fiats

  1. US dollar(USD)
  2. Euro (EUR)
  3. Russian Ruble (RUB)
  4. Polish Zloty (PLN)
  5. Ukrainian Hryvnia (UAH)

 

EXMO fees

EXMO takes a 0.2 percent fee from every closed deal. In the table below the other fees depending on the currency, are displayed. 

 

EXMO fees table

 

Transfer Limits

EXMO has a special schedule for maximum and minimum trading limits on all the trading pairs. 

 

EXMO transfer limits

 

Supported Countries

EXMO doesn't specify the supported countries, so we can assume it is available worldwide - it depends whether cryptocurrency is legal in your country or not. EXMO supports 11 languages: 

  1.  English
  2. Spanish
  3. French
  4. German
  5. Italian
  6. Portuguese
  7. Romanian
  8. Chinese
  9. Russian
  10. Ukrainian
  11. Polish.

 

 Customer Support

EXMO provides a 24-hour customer support service to all the users. The support is organized in the following way: 

  1. Online chat 
  2. Email support - support@exmo.com.
  3. Ticket support via the online form

 

Pros & Cons

Pros                               Cons
  • A lot of payment methods available       
  • No privacy
  • Huge trading limits
  • Not that much trading pairs
  • UK-based
  • USA Clients are ignored
  • 24-hour customer support
  • Deposit and withdrawals keep changing
  • 11 supported languages
  • No leveraged trading
  • Low fees
 

 

Can you trust EXMO

Well, trust but verify. There were complaints related to the withdrawals and deposit requests. In 2016 the crypto exchange experienced outage going off-line for three days - from July 28 to August 1. Apparently, EXMO's servers crashed and the exchange had to change them. They told their customers to change their addresses. As a result, some customers anyway sent money to the old addresses and lost them. 

 

 In December 2017 the crypto exchange was briefly shut due to the DDoS attacks. Moreover, that month the director of EXMO, Pavel Lerner was kidnapped in Kiev. Ukraine, and released for the $1 million ransom in Bitcoin. 

 

On the other hand, EXMO has all the safety measures including ID, IP, and 2FA verification. 

 

However, be cautious, as the cryptocurrency exchange is located in an unknown jurisdiction and is not regulated. 

 

Useful Links: 

EXMO Website

Facebook 

Twitter

Telegram

 


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