EXMO Exchange Review

EXMO is a UK-based cryptocurrency exchange which launched in 2013 by its parent company, EXMO Finance LLP. It is one of the largest cryptocurrency exchanges in Europe, with an average monthly trading volume of $ 1.5 billion. Even though the EXMO exchange offers lower liquidity than others, such as BitMEX, it is a good choice for inexperienced traders to start their cryptocurrency trading or investment.

The exchange’s owner, EXMO Finance LLP, is a registered company and complies with the laws of England and Wales. While the exchange offers an online wallet to store its customers’ coins, it doesn’t provide any insurance, like Coinbase.

EXMO’s trading interface is so simple that even a novice trader can buy cryptocurrencies with ease, just moments after creating the account.

This EXMO review will cover the most important aspects of the exchange in order to provide you with an all-rounded detailed overview of its features and services. Although Cryptimi does its best to provide you with accurate information and updates its reviews on a regular basis, we strongly recommend that you to visit EXMO for any updates which might occur after the time of writing.

Is EXMO Exchange Safe?

EXMO exchange is considered a safe platform to buy or trade cryptocurrencies. Even though it fell victim to a DDoS attack in 2017, no users lost their funds. Like all other exchanges, EXMO also provides 2FA (two-factor authentication) to prevent unauthorized access. It also allows users to add the list of trusted IP addresses to their account for better protection. With this system, users will be notified immediately if a login attempt is made using another device.

EXMO Exchange

How does EXMO compare to other exchanges?

Today, apart from offering direct trading, EXMO operates an OTC trading facility, where trades are carried out by a professional broker. After creating the account, the users can buy cryptos either using fiat payment methods, including credit cards, wire transfer, SEPA etc, or by depositing Bitcoins or other Altcoins.

EXMO Wallet

As an EXMO user, you will have access to a web-based wallet where you can conveniently store your coins. Although suitable for short-term storage, this wallet is not as secure as hardware wallets, which offer a superior level of security and help prevent private key hacking. Since the exchange doesn’t offer insurance, users could potentially lose their funds in the unlikely event of a successful security breach. Hence, it is highly recommended to use hardware wallets like Ledger Nano S, Trezor etc for better security.

You could also try these other crypto wallets in addition to the wallet services that EXMO provides:

The Ledger Nano X is the latest hardware crypto wallet offered by Ledger and it is designed to be the Bluetooth enabled Ledger Nano S on the go. Visit Ledger Nano X Ledger Nano X Review Launched in 2015, KeepKey Wallet is one of the oldest and most secure hardware wallets. Today it is run by the ShapeShift Exchange and ranks as the third-best wallet brand in the world. Visit KeepKey KeepKey Review If you are looking for one of the most secure hardware wallets, capable of storing a wide variety of cryptocurrencies and offering increased functionality, Trezor is definitely your go-to wallet. Visit Trezor Trezor Review

EXMO OTC Services

The platform includes an Over The Counter (OTC) trading facility, where applications are executed by a professional broker. In order to qualify for this service, transactions need to be larger than $100k, making this a particularly exclusive service.

In addition, users considered to be VIP clients get access to special rates. The makeup of such users varies, but they tend to be ones who automate their own API trading, exchange offices, banks, mining companies, and hedge fund brokers.

EXMO Account

Any individual can create an account on EXMO and start trading immediately, depending on which payment method and currency is chosen to fund their account. The fees for different payment methods and cryptocurrencies are clearly detailed on the website.

If you need to recover or reset your password, EXMO exchange allows you to do this easily. All you need to do is click on “Reset my password” and follow the instructions you get in your inbox.

How to Sign Up on EXMO

To create an account on EXMO exchange, all you need to do is:

Navigate here and click ‘Sign up’ button on the top right of the page. Enter the username, email address, password and click ‘Register’ button after completing the captcha and agreeing to the terms.

Within a few minutes, you should receive a confirmation email from the EXMO team. Click the link on that email to activate your account. If you don’t receive your email check your Junk email as it might have landed there.

Congratulations! You have successfully created your account on the EXMO exchange.

How to Log in on EXMO

To log in to your EXMO account, follow the below steps:

Visit Exmo and click the ‘Sign In’ button on the top right of the page. Enter the email address, password and click ‘Sign In’ button after completing the captcha.

Verification Requirements

To deposit/exchange cryptocurrencies, you don’t have to submit any kind of documents. However, you will need to verify your identity by submitting relevant documents in order to buy cryptos using fiat currencies. In such a case, two documents are required, in order to confirm your:

Identity (passport, driving license or other government-issued ID)

Address (bank statement, utility bills, or other kinds of certificates issued by the government to verify the residency).

Apart from the above documents, you should also download the Agreement from the EXMO website, sign each page and upload it onto your account.

How to Deposit Funds on EXMO

In the EXMO exchange, users can deposit 6 different fiat currencies and 20+ cryptocurrencies. Follow the steps below to deposit funds on EXMO.

Depositing Fiat Currency

Log in to your EXMO account. Click the ‘Finance’ link located on the top of the page. Select the fiat currency and click the corresponding ‘Deposit’ button. In this example, EUR is chosen. Now, you will see all the payment methods for EUR on your screen. Select the desired payment method, click the link ‘Please pass the verification’ and follow the on-screen instructions to verify the payment method. Only then, can you deposit fiat currencies on EXMO.

You can follow the above procedure to deposit any of the 6 fiat currencies using different payment methods.

Depositing Cryptocurrency

Follow Steps 1 and 2 mentioned in the above section. Select the digital currency and click the corresponding ‘Deposit’ button. In this example, BTC is chosen. Click the button ‘Create Address’. Now, you will be shown the wallet address to which you have to send your Bitcoins. Either you can copy the address or use the QR code on your personal wallet to send BTC.

Your Bitcoins will be deposited immediately after 1 network confirmation. Likewise, you can deposit any cryptocurrency you like by following the above procedure.

How to Buy Digital Currency on EXMO

EXMO exchange offers two modes: Trading and Exchange. The trading mode is intended for experienced traders whereas the Exchange mode is ideal for the novice traders who are buying cryptocurrencies for the first time.

The following examples show you how to buy different cryptocurrencies using VISA and the fiat currency is EUR. Before making your purchase you should ensure that you have verified your payment method and deposited the required funds into your account. Once the purchase has been completed the funds should reach your account within 30 minutes. For the below examples, the Exchange mode of EXMO is used.

How to Buy Bitcoin (BTC) on EXMO

Log in to your EXMO account and click ‘Exchange’ link located on the top left of the page. Select ‘EUR’ from the first drop-down box and enter the desired amount for which you would like to buy BTC. Then, it will show the number of Bitcoins you will receive. Click the ‘Exchange’ button.

How to Buy Ethereum (ETH) on EXMO

Log in to your EXMO account and click ‘Buy/Sell’ link located on the top left of the page. Click the ‘EUR’ on the top right of the page. Then, click the trading pair ETH/EUR. Below the trading graph, you will find two types of order: Limit order and Instant order. In this example, the Instant order is selected. Enter either the amount of EUR you would like to spend or simply enter the number of ETH you would like to buy and click ‘Buy ETH’ button.

How to Buy Litecoin (LTC) on EXMO

Log in to your EXMO account and click ‘Buy/Sell’ link located on the top left of the page. Click the ‘LTC’ on the top right of the page. Then, click the trading pair LTC/BTC. Below the trading graph, you will find two types of order: Limit order and Instant order. Enter the amount of BTC you would like to exchange and click the ‘Buy LTC’ button.

How to Buy Bitcoin Cash (BCH) on EXMO

Log in to your EXMO account and click ‘Buy/Sell’ link located on the top left of the page. Click the ‘BTC’ on the top right of the page. Then, click the trading pair BCH/BTC. Below the trading graph, you will find two types of order: Limit order and Instant order. Enter the amount of BTC you would like to exchange and click the ‘Buy BCH’ button.

How to Cash Out on EXMO

EXMO exchange supports withdrawal via both fiat currency and cryptocurrency.

Fiat Currency

Follow the below steps to withdraw your funds via fiat payment methods. Before placing your withdrawal request, you must ensure that the payment method is already verified.

Log in to your EXMO account and click the ‘Finance’ link located on the top of the page. Select the fiat currency for withdrawal and click the corresponding ‘Withdraw’ button. Choose the payment method for withdrawal and follow the on-screen instructions to place your withdrawal request.

Depending on the payment methods, your funds will be credited to your account within a few hours or days. If you would like to know the applicable fees, kindly visit the ‘Withdrawal Fees’ section of this review.

Cryptocurrency

Follow the steps below to transfer your funds to another crypto wallet. Before placing your withdrawal request, you must create a wallet account on exchanges like Coinbase or set up a cold storage wallet like Ledger Nano S or Trezor.

Log in to your EXMO account and click ‘Finance’ link located on the top of the page. Select the cryptocurrency to withdraw and click the corresponding ‘Withdraw’ button. Enter the withdrawal amount, a valid wallet address and click the ‘Withdraw’ button.

You should receive the coins in your wallet instantly, but depending on transaction volumes it may take up to an hour.

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Supported Cryptocurrencies

EXMO exchange allows users to buy a large number of altcoins and cryptocurrency tokens. It offers trading pairs in 6 fiat currencies (EUR, USD, RUB, PLN, TRY, UAH) and cryptocurrencies as well.

The cryptocurrencies listed on the exchange are given below:

Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Dash (DASH), Ripple (XRP), Tether USD (USDT), Monero (XMR), Cardano (ADA), NEM (XEM), Dogecoin (DOGE), Waves (WAVES), Zcash (ZEC), KickCoin (KICK), Bitcoin Gold (BTG), Helbiz (HBZ), BitcoinZ (BTCZ), Datawallet (DXT), Storiqa (STQ), Stellar (XLM), MinexCoin (MNX), OmiseGO (OMG), TRON (TRX), Ink (INK), NEO (NEO), Gas (GAS), 0x (ZRX), Golem (GNT), Gemini Dollar (GUSD)

Supported cryptocurrencies on EXMO change regularly, so you should always visit EXMO to ensure that the coin you are looking for is available.

Supported Countries

EXMO exchange accepts users from more than 170 countries all over the world.

Supported

EXMO accepts members from most countries including EU, UK, Australia, and Canada. US users, however, are not allowed to open an account with this exchange.

Excluded

On EXMO’s user agreement page you can find a list of exclusions, including territorial, under Section 2.2.