There are a ton of Cryptocurrency trading platforms out there. Each has its ow
n pros and cons. Exmo is one such platform whose Pros and Cons would be discussed throughout this Exmo review.
Now as for all our Trading Exchange Reviews, we generally focus on the “anonymity” aspect of an exchange much more than the other features. Although obviously the other features too will be answered, such as:
- Does Exmo ask for KYC Verification?
- Is Exmo Safe?
- What are the Deposit/Withdrawal methods on Exmo?
- What are the Limits and Fee on Exmo?
- Which Trading Pairs are Available on Exmo?
- Is Exmo Available Globally?
I’d advise you to go through this entire Exmo review to get all the details right. but if you’d rather not, this overview should help you understand the overall features offered by the company:
- Primary URL: https://exmo.com
- KYC: Optional
- Centralized: Yes
- Supported trading pairs: 164
- Payment Methods: Fiats + Cryptocurrencies.
- Fee: 0.2% trading fee.
- Security: 2FA/IP-locks/Access-History.
Does Exmo Need KYC?
Exmo has a pretty flexible KYC policy. It’s a platform which doesn’t have a mandatory KYC requirement.
All Crypto trades, Deposit as well as Withdrawals are possible without any KYC verification.
Furthermore, some fiat-deposit/withdrawal methods too don’t require KYC. This is one of the very few trading exchanges which allows fiat transactions without KYC in the industry.
While KYC is available, and can be completed to unlock some other fiat-deposit/withdrawal methods.
The Exmo KYC, when opted for is divided into three segments:
- And Photo-verification.
The Identity verification requires documents such as a govt.-issues ID card, or Passport (both National and International accepted), Licenses etc.
The Address can be verified with a govt.-issued residential proof, utility bill, tax returns, and Bank statements.
And finally, the platform also asks for a photo of the user along with the Identity document.
All in all, the platform is pretty anonymous both for Crypto and Fiat traders. While not all fiat-deposit/withdrawals methods are available without KYC, it’s still possible.
Is Exmo Safe?
Well, I’m not entirely sure about the platform yet (personally). Although for starters the company is pretty old and established. It also boasts 40,427 active users currently, and a 24 hour trade volume of 1422 BTC (approx. 14 Million USD).
While this is impressive, we’ve seen exchanges with much higher volumes, you can glance at our Bitfinex review for one.
Although the marketplace doesn’t seem to have a Cold-storage, and infact advises users to use other wallets to keep their funds secure.
If we talk about the active security-features provided to user to secure their accounts, these are a lot more welcoming than the back-end security.
Currently it provides the following security measures:
- IP-based Access.
- 2-FA using SMS and Google Authenticator.
- Access history.
The IP-based authorization is a pretty advanced feature which lets users specify trusted IP Address(s). Once enabled, only the IP address(s) listed are allowed to access the accounts.
This ensures that even if your password, 2-FA and everything else is compromised, unless the user has access to your System/Internet, they can’t get it.
But then again, it’s pretty easy for users to lock themselves out of their accounts hence make sure you’re on a static IP, and understand this feature fully.
Then there’s 2-FA. Just like any other standard 2-FA it can either be enabled for cell-phone numbers or a less traditional method of Google Authenticator can be used.
In either case, a temporary, one-time password for each login is sent/displayed to the users. This needs to be used in addition to the password in order to login to the accounts.
And then finally there’s the Access history. Nothing too fancy, it just shows the date-time, IP address and country of some of the last logins made to an account. This can be used to identify any suspicious logins and change the credentials.
What are the Deposit and Withdrawal Methods on Exmo?
One of the most impressive aspects that can be mentioned in this Exmo review is its Deposit and Withdrawal methods.
The company supports both Crypto, as well as Fiat deposits/withdrawals. It supports the following Fiat currencies for now:
- USD, EUR, RUB, PLN, TRY, And UAH.
A number of ways for Fiat transitions are available, such as:
- WebMoney, Perfect Money, Visa/Mastercards, Ex-Code*, Payeer*, CryptoCapital* , Elecsnet*, AdvCash*, Yandex, Qiwi*, Wire Transfers, Terminal, Enfins, And SEPA.
*Note: All the methods listed above with a Star mark (*) next to them can be used without KYC verifications!
In a nutshell, this is one of the most extensive fiat-transaction lists I’ve ever compiled for an exchange.
What are the Fee and Limits on Exmo?
Naturally pertaining to the extensive list mentioned above, the fee and limits for the exchange would vary greatly, won’t they? Let’s talk about them in brief:
The most common fee for a trading exchange is without doubt its trading fee. Unlike most other exchanges, Exmo doesn’t charge a fee based on a user’s trading-volume.
Rather is uses a static-fee model, and charges a fixed 0.2% to both the maker and the taker for a trade.
The deposit fee depends on the Deposit method used, and the Currency. Most Crypto deposits are free, with the only exceptions being OMG, INK, and DXT which are charged at 0.1O MG, 10 INK and 20 DXT respectively.
Fiat USD deposits are charged at 4.5% for Simplex, 3.45% for AdvCash, 3.95% for Payeer and 3.45% for VISA.
Identical fee for EUR deposits are charged respectively for each deposit method/processor, with the only difference being a 6.95% fee for Wire Transfer and 20 EUR fee for SEPA deposits.
RUB deposits are charged at 3.95% for Payeer, Visa/Mastercard and Elecsnet, 4.45% for AdvCash, 2.95% for Yandex and 3.45% for Qiwi.
UAH can be deposited using Terminal (2.6%) , Enfins (free) and Visa/Mastercard (2.6%) deposits.
TRY and PLN can only be deposited using VISA and Mastercards, TRY is charged at 3.05% while PLN at 4.5%.
Withdrawing Crypto is charged, and depends on each currency being withdrawn. Fiat withdrawals have a fixed fee.
USD Withdrawals is possible via CryptoCapital (free), Ex-Code (0.2%), Perfect Money 0.5% and AdvCash 1.45%.
EUR withdrawals have the same prices as USD withdrawals, although SEPA is charged at 50 EUR/withdrawals
RUB can be withdrawn using Qiwi (2.95%), Visa/Mastercard (3.95% + 60RUB) ,Yandex (1.95%), AdvCash (0.45%), Elecsnet (2.45%), Ex-Code (0.2%), and WebMoney (2.5%).
PLN supports Cryptocapital and Ex-Code withdrawals, both charged at 0.2% and 0.45% respectively. Try can only be withdrawn using Ex-Code at 0.2%.
And finally, UAH is charged 0.2% for Ex-code, 2.95% for AdvCash, 3.95%+20 UAH for Visa/Mastercard and 1.95% for Enfins.
The minimum-maximum trading limits are again dependent upon the exact trading pairs being traded. They’re displayed at the time of the trade.
As for Fiat, USD has a min. deposit requirement of 10 USD and Max. Limit of 10,000USD via Advcash. A much smaller amount, i.e. 1 USD can be deposited via Payeer, while a maximum of 10,000 USD is supported.
USD Withdrawal via Perfect Money has a minimum-maximum requirement and limit of 10 USD and 10,000USD respectively, Advcash withdrawals are limited at 1min. -40,000USD max ,Cryptocapital offers limits from 100min. and 10,000 max. Withdrawals. Ex-Code doesn’t seem to have a min. limit however a maximum of 20,000 USD is allowed.
A minimum of 100 EUR and a maximum of 20,000 EUR can be withdrawn at a time using CryptoCapital. A maximum of 18,000 EUR can be withdrawn via Ex-code.
RUB deposit has a min. limit of 5,000 RUB and a maximum of 30,000 RUB via Qiwi, 25min. and 50,000 RUB max. Is possible via Payeer, 100 RUB min. and 15,000 RUB max. is what Elecsnet allows, AdvCash has a requirement of 20 RUB minimum and 50,000 RUB maximum.
Here are the RUB min-max withdrawal limits:
UAH requires atleast 150UAH deposit via Enfins, with the maximum being 100,000UAH. Visa/Mastercard limits are 300UAH min. -14,000UAH max.
And finally, 100UAH-15,000UAH min-max limits are allowed for Terminal.
As for withdrawals, 10UAH-30,000 UAH for Enfins, 10UAH- 15,000 UAH for AdvCash, and 10UAH-14,000 UAH for Visa/Mastercards are allowed as the minimum-maximum limits.
PLN can be withdrawn for the smallest amount of 30PLN or the highest amount of 10,000PLN via CryptoCapital.
That almost covers it, if a method/limit isn’t mentioned in this Exmo review it probably means that the method is only accessible after KYC verification and the limits would be displayed on the verification is done.
Which Trading Pairs are Available on Exmo?
This again is one of the more impressive features of Exmo. It currently supports exactly 164 trading pairs, including Crypto-Crypto and Crypto-fiat pairs.
At a first-glance, nearly all the major (and minor) pairs seemed available-
As for deposits, it supports exactly 53 Cryptocurrencies as of now.
Is Exmo Available Globally?
One of the final questions we should probably answer in this Exmo review is its presence.
Well fortunately, Exmo is available globally. Although it’s not available to U.S citizen/residents, and the citizen/residents of Japan.
Final Words on
So that’s a wrap as far as this Exmo review goes folks. I do hope it’s as detailed and explainatory as I wished it to be.
Anyway, my final verdict on the exchange is that its KYC policy is impressive for the most part for starters, although the security features are a bit of a pull-back for me personally for now.
Also, the fact that it’s not available in the U.S (and Japan) is a bit of a downer. But then again, its payment-methods and trading-pairs are more than impressive.
All in all, it’s something worth a peek. Do you, or don’t you agree with this Exmo review? Let us know in the comments.