EXMO review: advantages, disadvantages and features

EXMO cryptocurrency exchange was created in 2013 when Bitcoin was not familiar to everybody and the daily turnover of trading platforms did not exceed hundreds of thousands of dollars. Nonetheless, the boom of the crypto industry has significantly increased the number of customers of such exchanges, and EXMO was no exception. According to statistics provided by the platform itself, about 50% of Russian-speaking crypto traders, several tens of thousands of which make up a pool of active traders, have already registered on EXMO.
The daily trading volume of the exchange is measured in hundreds of millions of dollars, which is not much compared to Binance or Bitfinex. However, as a project focused on the Russian-speaking audience, EXMO exchange is more than successful. At the same time, it is positioned as an international platform. No wonder the interface is translated into 12 languages, including Russian, English, and Chinese.

Features of the exchange

Even though a wide audience knows EXMO as a popular Russian-language cryptocurrency exchange, only a few are aware that the brand is engaged in different spheres. In particular, the exchange provides its users with an automatic exchanger. Its advantage is that the user does not need to create an order to sell coins and wait for its execution. The offered exchange rate is more profitable than the price of an instant counter-purchase. Any coin can be exchanged here. Besides, the funds are credited instantly.
Another important feature of EXMO is the presence of secure wallets. Not only professional but also small traders think about the safety of their funds. With EXMO one can use both built-in online wallet with round-the-clock access and the cold hardware storage. The first option is more suitable for those who want to have continuous online access to cryptocurrency. Hardware wallets are suitable for those who buy coins for medium or long-term investment purposes and want to ensure maximum safety of funds. At that, to earn customers’ trust, EXMO ensures all users’ funds and returns 100% of the amount in case of their loss.
Another distinctive feature of the project is the presence of EXM coin. In January 2019, the website launched the sale of its internal tokens. Their functional purpose is to implement margin lending to traders.

Registration and verification

To start trading with the EXMO exchange, one needs to register on exmo com, the official website (alternative mirror – exmo.me), and click the corresponding «Register» button at the top of the page. After that, you will be offered to enter your login, contact email address, and password. By checking the box and entering captcha, you agree to the Terms of use. After that you will only need to press the «Registration» button and, after confirming the account, enter your account using the login and password previously specified by you.
Once you have logged in to your account, you are recommended to change the security settings. In particular, you need to activate the receipt of transaction notification and then install two-factor authentication via Google Authenticator or SMS. Save these changes so they could come into operation.

Now let’s talk about account verification. Although on most cryptocurrency exchanges this procedure can come out difficult for a trader, on EXMO everything is quite simple. Verification is necessary if you are planning to:

• Withdraw funds to bank cards in dollars or euros;
• Use electronic payment systems Payza, Neteller, and Skrill;
• Deposit and withdraw funds via Wire Transfer or SEPA.

To start the verification procedure, you need to enter your name, date of birth, passport series and number, country of issue, and date of validity of the document, as well as attach a color scan copy. After that, you should wait until the data provided by you are checked by moderators.

Benefits and drawbacks of EXMO

To fully understand the specifics of the exchange, let’s talk about its main advantages and disadvantages. Among the advantages of EXMO are:

1. The presence of a British Business Registration License;
2. A large number of regular users;
3. Daily registration of 20,000 new users;
4. The largest daily trading volume;
5. The presence of an official office in Barcelona;
6. Stable improvement of the functionality;
7. Reliable protection against cyber attacks and elaborated authorization algorithms;
8. Insurance of all deposits and a money-back guarantee in case of loss of funds.

The fact that during its existence EXMO has not been hacked by hackers, says a lot about the reliability of the platform.

Conclusion

EXMO is one of the most popular crypto projects on the Internet, which has already been appreciated by hundreds of thousands of users. If you need a reliable and convenient exchange, you should go to EXMO. The project is quite interesting and promising, so if you plan to actively trade with cryptographic assets, take a look at this exchange.
If you have any questions about the functionality and operation of the EXMO exchange, leave a message in the comments, and we will try to give you comprehensive answers as soon as possible.