Exmo Exchange Review – Fees, Supported Coins & Countries, Payment Methods
What you'll learn 👉
The labyrinth of cryptocurrency exchanges can be a daunting task, with each platform offering a unique blend of features, fees, and user experiences. Among these platforms, EXMO, a UK-based cryptocurrency exchange, has carved out a niche for itself. This EXMO review aims to provide a comprehensive analysis of the platform, shedding light on its key features, pros and cons, and how it stacks up against its competitors.
EXMO, founded in 2014, has established a solid reputation in the crypto space, offering over 50 cryptocurrencies for trading and boasting a user base of over 2 million. However, like any platform, it has its strengths and weaknesses. This EXMO exchange review will delve into the specifics, from the platform’s user-friendly interface to its competitive spot trading fees, and even its limitations such as a relatively limited product range and high fiat withdrawal fees.
So, what is EXMO exactly? It’s more than just a cryptocurrency exchange. It’s a platform that strives to cater to both beginners and seasoned traders alike, offering a range of services from spot trading to staking services. But does it deliver on its promises? And how does it fare when compared to other exchanges? This review aims to answer these questions and more, providing you with the information you need to decide if EXMO is the right exchange for your trading needs.
Exmo is an exciting crypto platform that allows its users to the online cryptocurrency exchange of a digital asset as well as the trading of cryptocurrencies. The headquarters of the company is in London, the UK.
Note: Keep in mind that these are only my opinions based on my thorough investigation of the Exmo cryptocurrency exchange. In any case, please do your own research before deciding whether you want to use it or not.
At this point, it is good to note that all opinions and suggestions written in this article are not considered financial advice.
Services & Features
Exmo supports a wide range of services such as buying and selling crypto, spot exchange, or cashback for traders. So, let me break each one.
Buy & sell crypto
Exmo offers a simple way to buy crypto. There is a “buy crypto” tab on the top of Exmo’s homepage. When you tap on it, you will be directed to a new window where you can buy various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, or Tether. You can buy crypto with fiat money (AUS, USD, EUR, and many others).
Keep in mind that you need to first verify your account before buying crypto for fiat money.
Exmo offers spot trading or as they name it on their website – “simple trading”. For those not familiar with the term, spot trading is the process of buying and selling tokens and coins at a spot price for immediate settlement.
When you tap on the “trade” button and then on the simple trade, you will be sent to a new window where you can buy and sell coins within literally a few clicks. You can list the coins as “gainers” and “losers” to see which ones have the best and the worst price movements in the last 24 hours.
Cashback for traders
Exmo allows its users to submit their votes on various decisions such as upcoming platform modification, or listing of new crypto assets, just as each professional crypto exchange. Furthermore, Exmo offers high-volume trailers to get as much as 70% cashback in trading fees.
Also, you can get additional cashback if you are an owner of EXM (Exmo’s native token – more about it in detail later in the article).
Exmo Gift Card
Yet another exciting feature of Exmo is their gift card. The feature was launched and since then, users can exchange funds between them quickly. If you are a token holder on Exmo, you can activate and generate the card, while fiat currency users can only activate it.
Exmo supported coins
Exmo supports a wide range of cryptocurrencies uch as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Ripple (XRP), Litecoin (LTC), Cardano (ADA), ZCash (ZEC), Bitcoin Cash (BCH), Tron (TRX), Ethereum Classic (ETC), Dogecoin (DOGE), Stellar (XLM), Bitcoin Gold (BTG), and many others.
Exmo deposits & withdrawals (fees, methods, limits)
When it comes to deposits and withdrawals, fees depend on payment methods and fiat currency, as shown below:
US Dollar: payment method, deposit fees, and withdrawal fees
|Payment method||Deposit Fee||Withdrawal Fee|
|EXMO Gift Card||Free||–|
Euro: payment method, deposit fees, and withdrawal fees
|Payment method||Deposit Fee||Withdrawal Fees|
|EXMO Gift Card||Free||–|
|Instant SEPA UAB EUR||–||1.5 EUR|
|CJ SEPA UAB EUR||–||1.5 EUR|
|EMBank UAB SEPA||0 EUR||2 EUR|
|EMBank UAB SWIFT||30 EUR||40 EUR|
|Payment method||Deposit Fee||Withdrawal Fee|
|EXMO Gift Card||Free||–|
|Visa/MasterCard||2.49%||4.99% + 60 RUB|
When it comes to crypto deposits – these are free of charge for all cryptocurrencies. However, crypto withdrawals vary from coin to coin which is the typical procedure on all exchanges. For example, it is 0.0005 BTC per BTC-withdrawal which is in line with the market’s average.
Exmo Trading Fees (Spot trading fees)
Maker and taker fees on Exmo are 0.3% respectively. However, fees can be significantly lower depending on your 30-day trading volume. Please see the table below:
|30-day Trade Volume ($)||Maker Fee||Taker Fee|
|0 – 5 000||0.3%||0.3%|
|5 000 – 10 000||0.22%||0.3%|
|10 000 – 25 000||0.2%||0.28%|
|25 000 – 50 000||0.16%||0.26%|
|50 000 – 100 000||0.14%||0.22%|
|100 000 – 250 000||0.1%||0.2%|
|250 000 – 500 000||0.08%||0.18%|
|500 000 – 1 000 000||0.06%||0.16%|
|1 000 000 – 2 500 000||0.04%||0.14%|
|2 500 000 – 5 000 000||0.02%||0.12%|
|5 000 000 – 20 000 000||0.02%||0.1%|
|20 000 000 +||-0.05%||0.05%|
When it comes to limits – it depends on the trading pair, as shown below:
You can check a complete guide on Exmo’s commissions and limits here.
Exmo supported countries
Exmo is available almost worldwide. However, there are notable exceptions since Exmo is not available in the US, China, Japan, and countries in the Middle East. Furthermore, Exmo is not available in North Korea and Syria either.
Are US investors allowed on Exmo?
US investors are not allowed on Exmo since there are law prohibitions that bar US traders from trading activity with regulated brokers outside the United States.
How to start with Exmo? (steps like registration, activation, verification, etc).
The registration process with Exmo is pretty much straightforward, but a bit longer than on other exchanges to be honest. You have to tap on the “sign-in” button and then fill out the necessary information:
- Login (username)
- Phone number
- Password is written twice
They will send you a code on your mobile phone via SMS so that you can verify it. Once you verified your phone, a confirmation email will be sent to your inbox and by clicking on the confirmation link you have successfully activated your account.
Does Exmo require KYC?
Yes, Exmo does require a mandatory KYC (Know Your Customer) verification process. Most of the time, users do not like when verification is mandatory and you can’t do anything on the platform until you verify your account. However, it does have some positive sides – this means there are not any scams on the exchange (since they will never go through the whole verification process).
As per Exmo’s website – verification is done with just “a few clicks”. You have to upload a copy or photo of your valid ID document, or you can use Exmo’s mobile app to scan your documents directly on the platform.
Does Exmo have a Native Token – What is the role of the EXMO coin?
Yes, Exmo does have a native token and it is called EXM (Exmo Coin). The purpose of the coin is to offer more rewards and benefits to the Exmo ecosystem. EXM offers you various additional services and benefits such as increased referral payments, reduced trading commissions, and EXMO exchange bonuses.
Besides the Exmo exchange, you can buy EXM on HitBTC exchange as well. The best way to buy it is via a currency pair. Once you choose the order type and the token, you just need to tap on the “buy” button.
Is Exmo legit and safe?
Well, this is probably one of the most important questions in these types of reviews. Since Exmo has been around since 2014 (which is a very long time in the crypto world) and has thousands of users around the world – we can safely say it is a legit and secure platform. However, it did have an attack in 2017 when the whole platform was shut down for a while.
However, the mandatory verification system definitely increases the security of the platform, and the hack in 2017 is most likely the main reason why the team around Exmo decided to make KYC a must. Moreover, there are additional security measures offered to users such as the 2FA (2-factor authentication) system.
Is Exmo Regulated?
Exmo is not a regulated exchange and this is probably the main reason why it is not available in countries like the US, China, or Japan. However, it is still considered a secure, transparent, and widely popular crypto platform.
Exmo offers almost everything every crypto investors like to see – available in more than 180 countries, supports a great number of cryptocurrencies, and has a beginner-friendly interface. When you take all of these into account, Exmo is definitely an exchange that is widely popular and legit. Moreover, the security seems to be on a high level since the platform offers various security measures such as mandatory verification and a 2FA system.
However, most users will not like a mandatory KYC process since they do not like to leave personal information and upload ID documents before trying out the platform. In fact, you can look into the platform, but you can’t make any trades until you verify your account.
One of the major drawbacks of Exmo is not its mandatory verification system, but the fact that it is restricted in some of the biggest crypto markets in the world such as the US, China, or Japan. Exmo would be an even more popular exchange if they managed to make themselves available in these big markets.
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Let’s look at some frequently asked questions when it comes to Exmo exchange.
- Great 24/7 customer support.
- Various payment methods are available.
- Support a wide range of cryptocurrencies.
- Simple, beginner-friendly way to buy and sell cryptocurrencies.
- Multilingual exchange - available in 12 languages (English, Russian, Spanish, Romain, German, Polish, etc.) .
- Margin trading available.
- Restricted in some countries such as the US, China, and Japan.
- High deposit fees for some payment methods.
- The withdrawals and deposits process might be sluggish.
- It is not regulated.
- KYC is mandatory.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com