Exmo Review – Cryptocurrency Exchange
Founded in 2013, Exmo is a small UK-based cryptocurrency exchange that claims to have team members and investors located around the world. While its trading volume is very low compared to major cryptocurrency exchanges such as Bitfinex, Exmo does have something to offer, with several advantages. There is good currency support, with four fiat currencies (USD, EUR, UAH, and RUB), Bitcoin, and a dozen of altcoins available.
Buying, selling, and exchanging on Exmo is incredibly easy since the platform is so simple to use. It’s, therefore, an ideal cryptocurrency exchange for beginners, who will appreciate the intuitive interface design. However, it doesn’t have many additional features, so those looking to do margin trading will probably want to look elsewhere. The website works well, though some comments found online suggest its servers haven’t always been the most reliable.
Exmo is easy to navigate and buying and selling crypto is quick and easy. While Exmo does offer a wallet for you to store your newly purchased cryptocurrency, it’s recommended you take your crypto off the exchange and store it in a secure wallet of your choosing.
There is good currency support on Exmo, with the US dollar (USD), euro (EUR), Ukrainian hryvnias (UAH), and Russian ruble (RUB) accepted. With these currencies, it’s possible to buy the following cryptocurrencies:
- Bitcoin (BTC)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Dash (DASH)
- Ethereum (ETH)
- Waves (WAVES)
- Zcash (ZEC)
- Tether (USDT)
- Monero (XMR)
- Ripple (XRP)
- KickCoin (KICK)
- Ethereum Classic (ETC)
- Bitcoin Cash (BCH)
There’s also an exchange service between USD and EUR. Overall, Exmo offers a good selection of altcoins. Making a deposit is easy since there are so many ways to fund an Exmo account. The exchange not only accepts bank transfers but also debit and credit cards. For withdrawals, you can also use PayPal. Deposits and withdrawals are generally quite quick, but this obviously depends on the method chosen
Because Exmo allows so many different payment methods, there are a lot of different transaction fees to consider. Let’s look at the main ones. When making a deposit or withdrawing, there’s a flat 0.2% fee regardless of the method chosen. Depositing most cryptocurrencies on Exmo incurs no additional charge except for KickCoin, for which there’s a fee of 50 KICK. Withdrawing cryptocurrency comes with their own specific fees
Exmo claims to offer 24/7 customer support. The support offered by Exmo is similar to many cryptocurrency exchanges in that it’s largely online and replies tend to take a few days. When it comes to contacting support, you have three similar options: One is submitting a support ticket via the online form. Another is sending a direct email. There’s also an online chat option, which is somewhat hit or miss. Upon testing it myself, I had a very quick initial response, but the replies could’ve been more professional—they tended to be very short, often consisting of just one or two words. It may come down to luck as to who you speak with.
Public Opinion and Online Reviews
As Exmo is a relatively small cryptocurrency exchange, there’s little in the way of opinion to be found online. What’s more, there are no other reviews on authoritative sites. The clear majority of Exmo reviews to be found appear to be paid reviews, which raises a certain degree of suspicion. As such, it’s important to approach the exchange with some degree of caution since it’s less established than the likes of Coinbase or Bittrex, for example. One source of information is this Bitcointalk forum thread, which features up-to-date comments.
Most of the comments consist of issues experienced by users, but this isn’t uncommon in a public forum. Conclusion Exmo is a valid option to consider, particularly if you’re seeking a smaller cryptocurrency exchange. The currency support is much better than many other crypto exchanges, and there’s a reasonable selection of altcoins to choose from. It’s also nice to see so many payment options, which allow more people from more locations to be able to use it. Despite these advantages, it’s important to be cautious when signing up to a cryptocurrency exchange, particularly when it’s less well known, as in this case.