- EXMO overview – What is EXMO?
- EXMO Alternatives
- EXMO pros and Cons
- EXMO at Glance
- EXMO Fees
- Conclusion
- FAQ about EXMO
Are you tired of reading the same old boring crypto exchange reviews? Look no further because this EXMO review is going to be opinionated, a little bit humorous, sarcastic, and full of jargon and slang. In this article, we will give you a full overview of EXMO crypto exchange, including its pros and cons, fees, alternatives, and FAQs.
EXMO Overview – What is EXMO?
According to FxEmpire EXMO is a cryptocurrency exchange that’s been around for a while. And by a while, we mean since 2013. That’s right, EXMO’s been around since before your grandma even knew what Bitcoin was. This exchange was founded in Polevskoy, Russia, and it’s still operating from there. As of 2023, EXMO has over 160 employees who are working hard to make sure that the platform runs smoothly.
But wait, there’s more! EXMO supports over 180 cryptocurrencies, making it one of the most diverse exchanges out there. So, whether you’re a Bitcoin maximalist or a Dogecoin enthusiast, EXMO’s got you covered. And if you’re worried about language barriers, don’t be. EXMO offers multilingual support to make sure that everyone can trade on the platform. So, if you’re looking for an exchange that’s been around for a while and offers a wide range of cryptocurrencies, EXMO might just be the one for you.
EXMO Alternatives
Are you not satisfied with what EXMO has to offer? Fear not, for there are several other cryptocurrency exchanges that you can explore. Let’s take a look at a few of them.
Gemini
Gemini? More like snooze-fest! If we believe Crunchbase, Gemini founded in 2014 by the Winklevoss twins, this US-based cryptocurrency exchange is regulated by the New York State Department of Financial Services.While Gemini is known for its security features and user-friendly interface, it falls short when it comes to the number of cryptocurrencies it supports. With just over 50 coins available for trade, Gemini can seem like a limited choice for traders who want a wide range of options.
While Gemini may be great for those who prioritize security and regulation, it doesn’t quite measure up to EXMO’s offerings. EXMO supports over 180 cryptocurrencies, which means that traders have a much wider range of coins to choose from. Plus, EXMO offers low trading fees and 24/7 customer support, making it a more well-rounded choice for traders.
Read our review of Gemini crypto exchange
Binance
Binance? More like the big kahuna of cryptocurrency exchanges! Founded in 2017, this Malta-based exchange is one of the biggest in the world. And with over 500 cryptocurrencies available for trade, Binance offers a massive selection for crypto enthusiasts. Plus, the platform offers a range of advanced trading features, including margin trading and futures trading.
However, when compared to EXMO, Binance falls short in terms of reliability and customer support. While Binance may offer a wider range of cryptocurrencies and advanced trading features, EXMO has a reputation for being a reliable and secure platform for traders. Plus, with 24/7 customer support and low trading fees, EXMO is a more well-rounded choice for those who want a comprehensive trading experience.
Read our review of Binance crypto exchange
OKX
OKX? More like OK-boring! But don’t let the name fool you – this Hong Kong-based cryptocurrency exchange is anything but dull. Founded in 2017, OKX has quickly established itself as one of the most popular exchanges in the world. And with good reason – the platform supports over 400 cryptocurrencies, making it a haven for crypto enthusiasts who want to trade a wide range of coins.
OKX offers a range of advanced trading features, such as futures trading and options trading, which sets it apart from other exchanges. And if you’re worried about liquidity, don’t be. OKX is known for its high liquidity, which means that you can buy and sell cryptocurrencies quickly and easily. Plus, the platform offers low trading fees, which is always a plus.
Read our review of OKX crypto exchange
EXMO Pros and Cons
Now, let’s take a look at the pros and cons of using EXMO crypto exchange.
| Pros | Cons |
| The platform offers 24/7 customer support for traders globally. | The platform levies several transfer restrictions on transactions. |
| EXMO accepts multiple payment options, including bank transfers and cryptocurrencies. | The withdrawals and deposits process can be sluggish at times. |
| Supports 182 cryptos, offering a wide range of options. | The number of cryptos supported fades in front of some exchanges. |
| Multilingual support is available on the platform. | US-based clients cannot avail of the platform. |
| Low fiat fee for trading at an approx. 0.2%. | It fails to deliver on the Margin Trading front. |
| Simple navigation to buy and sell cryptocurrencies. | The deposit fees for some methods are significantly high. (Wire transfers are charged 20 dollars.) |
EXMO at a Glance
| Exchange Name | EXMO |
| Fiat Currency | USD, EUR, GBP, RUB, PLN, UAH and KZT |
| Trading Pairs | 192+ against BTC, ETH, USDT, and others |
| Payment Type | Wire transfer, debit card, credit card, SEPA, e-channels |
| Trading Fee | From 0.1% (crypto-to-crypto) and 0.3% (fiat-to-crypto) |
| Deposit Fee | 3.99% + 0.35 USD for credit cards, 2.49% for Payeer |
| TP/SL | No |
| Mobile App | Yes (Android and iOS) |
Trading Fees
One of the most important factors to consider when choosing a cryptocurrency exchange is the fees that the platform charges for trading. So, let’s take a closer look at the fees that EXMO charges.
EXMO charges different fees for trading cryptocurrencies, which depend on the trading pair and the volume of the trade. For fiat-to-crypto trades, the trading fees range from 0.1% to 0.3%, which is relatively low compared to other cryptocurrency exchanges. For crypto-to-crypto trades, the trading fees range from 0.1% to 0.2%. However, it’s worth noting that some trading pairs may have higher fees than others, so it’s important to double-check the fees for the specific pair you’re interested in trading.
While EXMO’s trading fees may seem low compared to other exchanges, it’s important to factor in the cost of depositing and withdrawing funds from the platform. EXMO charges deposit fees for certain payment methods, such as wire transfers, which can be as high as $20. Additionally, withdrawal fees vary depending on the payment method used, with some methods having higher fees than others. It’s important to take these fees into consideration when deciding whether EXMO is the right platform for you.
In my personal opinion, EXMO’s trading fees are reasonable and competitive compared to other cryptocurrency exchanges. However, the deposit and withdrawal fees can add up, especially if you frequently move funds in and out of the platform. It’s important to weigh the overall cost of trading on EXMO, including both trading and transaction fees, against the features and benefits of the platform to determine whether it’s the right choice for your trading needs.
Deposit and Withdrawal Fees
EXMO offers different deposit and withdrawal fees for various payment methods and currencies. Here’s a breakdown of the fees for USD and EUR:
For USD:
| PAYMENT METHOD | DEPOSIT FEE | WITHDRAWAL FEE |
| EX CODE | – | 0.2% |
| Payeer | 3.95% | 2.95% |
| AdvCash | 0% | 3.45% |
| Simplex | 4.5% + 0.5 USD | – |
| Visa | 3.45% | – |
For EUR:
| PAYMENT METHOD | DEPOSIT FEE | WITHDRAWAL FEE |
| EX CODE | – | 0.2% |
| SEPA | 20 EUR | 50 EUR |
| AdvCash | – | 1.95% |
| Simplex | 4.5% + 0.5 EUR | – |
| Visa | 2.95% | – |
As seen in the table, some payment methods are charged significantly higher fees for deposits and withdrawals, such as credit card deposits, which have a fee of 3.99% plus 0.35 USD. On the other hand, some payment methods, such as AdvCash deposits, have no deposit fees. It is essential to consider these fees when choosing a payment method to deposit and withdraw funds from the platform.
Conclusion
EXMO is a cryptocurrency exchange that offers a wide range of features for traders globally. The platform has a solid reputation for its security features and 24/7 customer support. However, it has some drawbacks, such as limited crypto support, high deposit fees for some payment methods, and sluggish deposit and withdrawal process.
If you’re looking for a reliable cryptocurrency exchange with low trading fees and a wide range of features, EXMO can be a good option. However, if you’re a US-based client or looking for a platform that supports an extensive range of cryptocurrencies or margin trading, you might want to explore other options.
All in all, it’s essential to do your research and evaluate your needs before choosing a cryptocurrency exchange. Remember to take necessary precautions to ensure the safety and security of your funds. Happy trading!
FAQ about EXMO
Is EXMO Reliable?
When it comes to trading cryptocurrencies, reliability is a top concern for traders. So, let’s take a closer look at EXMO’s reputation and security features to determine whether the platform is a reliable choice for trading.
EXMO has been in the market for over eight years and has established a solid reputation for being a reliable cryptocurrency exchange. Trustpilot reports that the platform has received positive reviews from its users and has a strong presence on social media platforms such as Twitter and Facebook. Additionally, the platform has won several awards for its services, including the Best Crypto Exchange in Europe award at the European Global Banking & Finance Awards in 2019.
One of EXMO’s main selling points is its security features. The platform uses industry-standard security measures such as two-factor authentication and encryption to ensure the safety of users’ funds and personal information. Additionally, EXMO has a 24/7 customer support team that can assist users with any security concerns or issues they may encounter while using the platform.
However, like any other cryptocurrency exchange, there is always a risk of hacking and security breaches. In the past, EXMO has experienced security breaches that have resulted in the loss of funds for some users. While the platform has since taken steps to improve its security measures and prevent similar incidents from occurring, it’s important for users to take necessary precautions such as using two-factor authentication and storing their cryptocurrencies in a cold wallet.
Is EXMO Wallet Safe?
EXMO has a built-in wallet that allows users to store their cryptocurrencies on the platform. The wallet is secured with two-factor authentication and encryption to ensure the safety and security of the user’s funds. However, it is always recommended to store your cryptocurrencies in a cold wallet, such as a hardware wallet, for maximum security.
Where Can I Buy EXMO Coins?
EXMO coins, also known as EXM, can be bought and sold on the EXMO platform. The coin can be traded against several cryptocurrencies, including BTC, ETH, USDT, and others.
Is EXMO a Regulated Exchange?
EXMO is not a regulated cryptocurrency exchange. However, the platform has implemented several security measures, including KYC and AML procedures, to ensure compliance with local laws and regulations.
How Do I Withdraw Money From EXMO?
To withdraw money from EXMO, you need to go to the “Wallets” section on the platform and select the cryptocurrency
you wish to withdraw. After selecting the cryptocurrency, you need to enter the withdrawal address and the amount you wish to withdraw. EXMO will charge a withdrawal fee depending on the cryptocurrency you’re withdrawing. Once you confirm the transaction, EXMO will process the withdrawal.
