Ноябрь 16, 2018
Markets

Exmo

EXMO

The company was found in 2013, based on UK platform. Their engineers are from all over the world including Spain, Russia, India, Thailand, and their financial advisors are from England, USA, Lithuania, and Singapore. The website is well build you can see a very beautiful design with everything you need on the main page. EXMO offers an intuitive, easy-to-use platform through which clients can interact into two primary modes. Deposits and withdrawals are available through a wide range of methods, including, Okay Pay, MasterCard, Visa and now with PayPal. You can work with 13 different cryptocurrencies at EXMO with most popular ones being bitcoins, Ethereum, Bitcoin Cash and Litecoins. You can trade Bitcoin into fiat currencies like the USD, RUB, or EUR while also trading cryptocurrencies like DOGE, LTC, and DASH. A good thing about the platform is that they support many languages like English, Spanish, French, German, Italian, Russian, Chinese, and few more.

Registration

You can register on EXMO in a few steps. But providing your email, and setting a username, and password, you will be ready to go and no email verification is needed. You will be straight put in the finance to make your first deposit. They made it easier as possible, making users gain their trust. To make your account more secure when registering you can go through two-factor verification that includes Google authenticator and SMS authentication. To verify these two factors, for the first one you will need to scan the QR code, and for the second, after entering your phone number, you will get an SMS with a code for verification.

Verification

To verify your account on EXMO you need to provide much more information about your self. The full account verification process of the account on EXMO is possible after successfully passing three stages: identity verification, address verification and filling in the user agreement. In order to successfully pass the identity verification, the user is free to show one of the following types of documents: national passport (two-page spread with the photo), international passport (two-page spread with the photo), personal ID-card (both sides). In order to pass the stage of address verification, the user needs to submit the following types of documents: bank statement, utility bill, tax documents, proof of residence issued by the local authority. The final stage of passing the identity verification is filling the user agreement.
In order to fully pass the final stage of verification you should follow these steps: Download the user agreement into your personal computer, Print and sign the document with the signature identical to the one in your passport, Scan the signed document and upload it into the “Agreement” section of the site.

Make a deposit

EXMO is on a new level when it comes to deposits and withdrawals. When it comes to depositing, the offer the most options than any other exchange. You can make a fiat deposit through Perfect Money, CryptoCapital, Wire Transfer, Money Polo, AdvCash, OKPAY, Neteller, Debit or credit card, Payoneer, and Payza, just for US dollars, as for euros and rubles, there are more options. For some, you need to be verified. Reason for so many payment options is differences in minimal and maximal deposit limit and fees. The minimum deposit can be from $1 to $5, and the maximum is from $5000 to $15000 for not verified users. As for the fee it ranges from 0% to 7% depending on the payment option. When it comes to digital currencies, for depositing BTC fee is 0% and the minimum you can deposit is 0.001 BTC.

Withdrawal

When it comes to withdrawal, EXMO offers 5 options for the US dollar. To withdraw currency you want to go to the Finance page and pick which currency you would like to withdraw. If you are withdrawing euros, you can do it through AdvCast, Money Polo, SEPA, Payeer. For SEPA you need to verify your account and for the others, fees range from 0% to 5%. A minimal withdraw can be 1 EUR, and the maximum is 5000. For withdrawing Bitcoin, the fee is 0.001 BTC. Minimum to withdraw is 0.01, and the maximum is 350 BTC.

Pros

Their biggest advantage is that they have the most payment options, usually exchanges have 3 to 4 types of payment options. Their service is globally available, and their support in so many languages offer, the best user-friendly website. They offer 24/7 support team, but still, some questions get replied in few days. The website is newbie friendly and good-looking, so everyone can figure how to handle cryptocurrency exchange. They are licensed and registered in the UK.

Cons

They focused too much on the website and payment options, but user privacy isn’t on the level it should be. Having so much payment options, their fees can be too expensive, and that matters the most to the users. The number of trading pairs can be higher. One of the biggest disadvantages for them is that the US is excluded, focusing on other regions can be a good thing, but the US is the biggest trading market at the moment.

Customer feedback

It is quite easy and simple to start using the services on EXMO.com. Upon navigating to their home page, there is a direct message that urges you to either sign up or sign in. Should you choose the former, you will be redirected to a simple form. They had issues with withdrawal that made many users angry. When they have problems with linking with payment options, users get damaged, and that’s why we can see so many negative reviews on this theme. The support doesn’t like users who accuse them of being a scam, sometimes not even answering or removing them from the website.

Conclusion

They will have to improve more to be at the top for cryptocurrency exchanges. Support is always the issue with this types of exchanges. Many people will always be unsatisfied with the platform, but still, they need to stand out, and get lower fees, update trading, and get more professionals to work on support. They’ve also partnered with some of the biggest names in the world of cryptocurrencies (including CoinDesk, the Bitcoin Foundation, and Bitcoin Talk) as well as financial institutions outside the industry (like Raiffeisen Bank). Improving these issues they can become one of the top ten cryptocurrency exchange platforms.

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